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Tag Archives: LME

HKEX and LME Announce New LME Chief Executive and Leadership Structure; Deutsche Bank Is First Bank Busted for Breaking Volcker Rule; Deutsche Boerse Boss Admits Mistakes in Failed LSE Deal John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian David Setters is turning 60 this weekend and of course some friends are gathering to celebrate this happy occasion. What they are also doing is giving gifts of donations to support MND research, the disease that is afflicting David. Would you help David celebrate birthday with a gift to the MND Association? David and his friends have raised £47,725.50 to date through various activities and fundraisers. How about we help David get that amount to £60K? Congratulations to Matt Chamberlain on being named CEO of the London Metal Exchange. I can…

JLN Exchange Leader Series 2017: LME’s Chamberlain on Ambitious Deployment Schedule Feature,Video,video

The London Metal Exchange is in flux after the departure of CEO Garry Jones at the beginning of the year. That leaves interim CEO Matt Chamberlain with structural problems to address and a “hugely ambitious” deployment plan for 2017. In this JLN Exchange Leader Video, Chamberlain outlines these plans and the existential issues facing the exchange. The highlight for LME in 2016 was LME’s steel scrap and rebar contracts. Introduced in late 2015, the contracts picked up traction in 2016.  LME wanted to avoid shoehorning new products into their preexisting contract format. The steel contracts were a departure from the…

Oil volatility migrates from flat prices to spreads; Hedging is about to make a comeback on global crude oil markets; Hedging risk at peak levels through 2016 Newsletter,Options

Lead Stories Oil volatility migrates from flat prices to spreads John Kemp – Reuters “Volatility can be neither created nor destroyed, rather it transforms from one form into another,” is a pretty fair summary of how the oil market works (with apologies to physicists). The benchmark price of Brent crude has been unusually stable since the middle of December, but there has been plenty of movement in the futures strip and crack spreads. Hedge funds have amassed an unusually large net long position in crude futures and options betting on a further increase in benchmark prices, but the position has…

Data centres help London retain cachet; CME Group Interest Rate Contracts Shatter Records On Feb. 22; Reinstitute Choice and Civility – ‘Tis Time for Retail FX in the U.S. to Have a Regulator, Not an Executioner John Lothian Newsletter,Newsletter

First Read Cinnober Going Big On Clearing JLN The Cinnober recap of its annual meeting revealed just how serious the company is about developing and investing in a new back office, real time clearing business. This space is ripe for change and competition, and Cinnober reported that it aims to raise about $20 million via a stock sale for the new entity. Over the next two years, Cinnober will launch a new realtime back office clearing system which will be spun off from the company. It’s a bold move from Cinnober’s CEO Veronica Augustsson and another indication that the back…

Now Even the Fed’s Worried That Stock Volatility Is Too Low; Growth in U.S. Listed Options Volumes Hinges on Sustained Market Volatility in 2017; Only ‘Blind Faith’ Could Cause Me to Be Long This Market Newsletter,Options

Observations & Insight Bits & Pieces By John J. Lothian William “Bill” Hagerty, Jr., former chairman of the Chicago Board of Trade and one of the industry’s great gentlemen, has passed away at the age of 87. Bill was the head of what was once the longest tenured member firm of the CBOT, Hagerty Grain, and was a customer of mine when I was a broker. From that relationship I had the opportunity to get to know Bill and came to respect him greatly. When I ran for the NFA Board of Directors back in the early 2000s as an…

Investors Look Past Headlines as Bull Market Roars Ahead; Wall Street’s Trading Revival Risks Relapse as Volatility Ebbs; Why the VIX Has Been Acting So Weird Newsletter,Options

Observations & Insight Bits & Pieces By John J. Lothian We have added Johan Toll of Nasdaq to our March 1 Stockholm MarketsWiki Education World of Opportunity event. He will speak about blockchain. Unfortunately, Patrick Thornton-Smith of Duco had a conflict come up and will not be able to present. We hope to get PTS in the fall in London. John Damgard has agreed to speak at our July 21 event in Chicago. We are beginning work on lining up speakers for this summer’s series. Chicago is scheduled for July 17, 19 and 21. New York is set for July…

Republican plan would ease Wall Street rules, as party embraces deregulation; How the Flash Crash Trader’s $50 Million Fortune Vanished; LME’s Chamberlain favourite to take wheel of metals juggernaut John Lothian Newsletter,Newsletter

First Read CME CEO Duffy isn’t worried about Trump Lynn Marek – Crain’s Chicago Business Terry Duffy’s executive suite at CME Group, a few floors above the Chicago River, is lined with shelves of photos picturing him with politicians from both sides of the aisle. In one, the CME chief exec is flanked by former Republican President George W. Bush and his brother Jeb Bush on a Florida golf course last year. Shots of Democrats, President Barack Obama and presidential nominee Hillary Clinton, have perches too. Noticeably absent: newly elected Republican President Donald Trump. jlne.ws/2lveEPX **JK: Bullish on derivatives. ++++…

At 34, the LME’s Newest Leader Ranks as One of the Youngest CEOs; Banks’ AI plans pose threat to thousands of jobs; Eris Exchange hires Bloomberg LP head of global markets John Lothian Newsletter,Newsletter

First Read Save the Dates For Chicago MarketsWiki Education World of Opportunity Series By John J. Lothian The Chicago MarketsWiki Education World of Opportunity dates are set for July. We are returning to the Illinois Institute of Technology’s Stuart School of Business the week of July 17 to 21. IIT is also known simply as Illinois Tech. We are seeking speakers and sponsors for the series in Chicago, New York and London. We are hoping to announce a date for a Stockholm event soon. We are pushing back plans for a Frankfurt event for the time being. We are looking…

LME CEO Jones Exits After 3 Years of Leading Metals Bourse; Deutsche Borse presents a block-chip concept for the risk-free transfer of funds; Nasdaq backs trading illiquid stocks only on listing exchange John Lothian Newsletter,Newsletter

First Read More Turnover At The Top: Garry Jones Out At LME Jim Kharouf, JLN Garry Jones is out as CEO of the London Metal Exchange, perhaps marking a new path for the metals bourse. From a personal perspective, Jones is among the CEO set with deep knowledge of the derivatives and exchange space, with stints at NYSE LIFFE/NYSE Euronext, ICAP and BrokerTec. His insight into the derivatives space was usually thoughtful and on target. He inherited an exchange that was due for major changes and he implemented them. Switching the LME from its prior member-owned culture to one that…