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Commodities Are Good for Traders, Bad for Investors; Trading Technologies appeals another Patent Board decision involving Interactive Brokers, TradeStation, IBFX; MarketAxess chooses Amsterdam as EU base after Brexit John Lothian Newsletter,Newsletter

First Read Hits & Takes We concluded our MarketsWiki Education series for the summer last week at Trading Technologies on Friday. Between three sessions in New York and four in Chicago over the previous two weeks, we had more than 500 attendees and 42 speakers from the industry. We will be posting videos of those presentations in the coming days. A thanks to all our sponsors for helping us make it happen – CME Group, CBOE, Nasdaq, IFM, Trading Technologies, IIT, Barchart, OCC, Thomson Reuters. ~JK Did you know “central counterparty clearing was invented in 1872 by the Minneapolis Grain…

NYSE, Former IEX Foe, Plans a Copycat Speed Bump of Its Own; MarketAxess breaks annual trading volume record; BlackRock jilts State Street, moves $1 trillion in custody assets to JPMorgan John Lothian Newsletter,Newsletter

First Read NYSE Outlines 2017 Equity Market Strategy: Intercontinental Exchange NYSE Group, part of Intercontinental Exchange, today detailed its equity markets strategy, which aims to deliver greater choice for corporate and ETF issuers and to investors by offering four unique exchange venues, including an exchange designed exclusively for small and mid-cap companies. /goo.gl/vBsDdR **** Some nice chess moves and some rebranding emphasizes the “American” aspect of NYSE’s markets. ++++ Veronica Augustsson nominated as CEO of the Year within Employer Branding Cinnober For her efforts to increase awareness of Cinnober as an employer, as well as for her commitment to various…

John Lothian Newsletter: MarketAxess muscles into US bond trading as banks retreat; Hedge Funds Face Most Difficult Era Julian Robertson’s Ever Seen; Brazil opens antitrust probe into BM&FBovespa bourse John Lothian Newsletter,Newsletter

First Read The mystery of high-frequency trading; How can you put a speed limit on something you can’t track? By ZACHARY WARMBRODT – Politico Something mysterious rattled one of the world’s most stable financial markets for 12 harrowing minutes on Oct. 15, 2014. During that brief window, the yield on the 10-year Treasury note—a benchmark security critical to funding the federal government—dropped dramatically and then surged, and no one could tell why. It was, said JPMorgan Chase CEO Jamie Dimon, “an event that is supposed to happen only once in every 3 billion years. “ /goo.gl/2lnCIx ***** Everyone one I…

John Lothian Newsletter: Client Margin Protections Should Be Recognized; CFTC Approves National Futures Association Rules Enhancing Protections for Retail Forex Customers; Welcome to a wild world of robot investing John Lothian Newsletter,Newsletter

First Read Bits & Pieces They call them the dog days of summer. We used to think that means sleepy and laid back. This month, it seems, it means we are working like dogs. Well, unless you are Jim Kharouf. Jim has been on holiday for the past two weeks, which added to the rest of our workloads. To be fair, though, Jim did put in a month of hard work before he left, finishing up three projects for John Lothian Productions, as well as a couple of editorial interviews. We will see him in the office for a few…

John Lothian Newsletter: Corzine, others settle MF Global lawsuit for $64.5 mln; JPMorgan to pay over $125 million to settle U.S. credit card debt probes; CFTC stays ICE’s plan to raise position limits in power contracts John Lothian Newsletter,Newsletter

First Read Bits & Pieces by JLN Staff MarketsWiki just passed the 65 million page view mark. A big thanks to all of our users. We have added John Kerin, the CEO of the Chicago Stock Exchange, to our list of speakers for the Chicago Summer Intern Education Series. We hope to add another tall speaker who will be spot on. In case you missed it, we added James Gellert of Rapid Ratings and technology entrepreneur John Edge to our list of speakers for the New York events. Here is the line up for New York. At 1 PM, we…

John Lothian Newsletter: KCG to sell forex trading platform Hotspot to BATS Global; GFI head makes last call for CME backing; ‘Wall Street Spy Ring’ Sought to Disrupt Financial Markets John Lothian Newsletter,Newsletter

First Read A Daughter’s Scouting Journey By John J. Lothian My daughter Katherine has joined the Boy Scouts of America. Yes, that is right, the Boy Scouts of America. She is a 17-year-old girl and joined a Venture Crew, a shooting focused unit. She now has a FOID (Firearms Owner Identification) card, is (somewhat) trained to shoot and has an attitude. Actually, it is a very sweet attitude. After years of my suggesting and prodding, Katherine decided to become a scout to attend the the 23rd World Scout Jamboree in Japan this summer. She is signed up and going as…

John Lothian Newsletter: Swiss Franc Shock Spurs CME to Change Rules on Emergency Halts; New York Prosecutor Expands ‘Dark Pool’ Complaint Against Barclays; Traders Once Starved for Volatility Now See Too Much John Lothian Newsletter,Newsletter

First Read The World Is Flat: ISE’s Boris Ilyevsky Talks PIM And New Flat Auction Pricing Sarah Rudolph – John Lothian News In October, seven options market making firms sent a letter to the SEC outlining their concerns about “the growing trend of exchanges imposing oversized transaction fees on market makers” competing in auction crosses. The firms said they were disadvantaged by the current structure in which internalization is encouraged by the use of a “breakup fee” that keeps market makers from competing with “initiators” of the auction. The International Securities Exchange (ISE) responded to the debate over price improvement…

Pipelines: Nick Solinger Talks Market Infrastructure for SEFs Regulation,Video

It’s been a historic year for swap execution facilities as more were launched in the wake of Dodd-Frank rulemaking by the Commodity Futures Trading Commission. Nick Solinger, head of product strategy and chief marketing officer of Traiana, said that its been a good year for firms getting connected to SEFs and for SEFs getting off the ground. The firm connected 16 FCMs to 16 SEFs with six more on the way. “The typical FCM has been able to clear, three, four, five, six different venues with that one connection to our hub,” Solinger said. “Buy-side firms can similarly trade across…

JLN Financials: German Court Refers OMT Decision to Europe’s Top Court; Comparing U.S. and Euro Area Unemployment Rates; Skating Close to the Edge, Again, on the Debt Ceiling Financials,Newsletter

First Impressions Rick Lane Q&A: How Trading Technologies plans to revolutionize tradingRick Lane has been looking into the future for some time now. The former co-founder of Tickit Trading, which was acquired by Trading Technologies in 2010, has quickly risen from chief technology officer in April 2012 to the new CEO of TT. As CTO, he’s also been busy overseeing a major rebuilding of TT’s technology, which is soon to be unveiled. Now he now succeeds industry legend Harris Brumfield, who has run the company for the past 11 years. Brumfield will take on the role of chairman of TT. John…