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Tag Archives: Michael Spencer

Japan’s dying shareholders; The high price of short attention spans John Lothian Newsletter,Newsletter

First Read World’s Largest Bitcoin Mining Manufacturer Earned $742.7 Million in Six Months Thom Thompson – JLN This article is a follow-up to Thompson’s earlier article, “Introducing Bitmain,” which you can find here BitMain Technologies Holding Company, the world’s largest provider of bitcoin mining equipment, filed its draft prospectus for an IPO on the Stock Exchange of Hong Kong in late September. The document indicated that the company had generated more than $742.7 of net profit (about $1 billion EBITDA – earnings before interest, taxes, depreciation and amortization) on sales of $2.8 billion in just the first half of 2018….

CME pursuit of Nex reflects shift in US money markets; SEC fine of radio presenter puts watchdog on the line; Bloomberg and Reuters see market share in data slip John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Yesterday my six foot six inch tall son Robby was diagnosed with a partially collapsed lung, or spontaneous pneumothorax, which is common in tall, thin youth. As a result, I had to miss the Ken Heath Awards presentation where Leo Melamed was one of the winners of the award. I also missed the open house for the new offices of Gate39 Media. Robby is doing well, though he is in a pediatric ICU unit. He is more used to visiting me sitting in a hospital bed than the other way around.~JJL ICE has…

Bear Stearns Meltdown Wreck; Decision time for Michael Spencer; Deductive Reasoning or Insider Trading? John Lothian Newsletter,Newsletter

First Read Potential CME-NEX Deal Is Full of History, Dilemma, Risk and Reward John J. Lothian – JLN For many years, the Chicago Board of Trade had cash treasuries envy, wanting to add the trading of cash treasury bonds and notes to its offerings. For many years, the CME has had cash currency trading envy. Both exchanges, now part of the CME Group, have tried to compete in cash Treasury and FX through various collaborations and initiatives. None of them succeeded. Chicago Board Brokerage and FXMarketSpace are long gone, but the desire to add treasuries and cash FX trading has…

Potential CME-NEX Deal Is Full of History, Dilemma, Risk and Reward Blog,Commentary,Exchanges, OTC & Clearing,Fintech,Investing & Trading,Mwiki

For many years, the Chicago Board of Trade had cash treasuries envy, wanting to add the trading of cash treasury bonds and notes to its offerings. For many years, the CME has had cash currency trading envy. Both exchanges, now part of the CME Group, have tried to compete in cash Treasury and FX through various collaborations and initiatives. None of them succeeded. Chicago Board Brokerage and FXMarketSpace are long gone, but the desire to add treasuries and cash FX trading has never disappeared. Now, if CME Group’s confirmed interest in NEX Group becomes a deal, it can add both…

CME Considers Bidding for Michael Spencer’s NEX Group John Lothian Newsletter,Newsletter

NEX

First Read Hits & Takes JLN Staff Wednesday night I was about to head home when I ran into a friend outside the Bar Luna at the Boca Raton Resort and Club. He told me about a rumor the CME was going to buy NEX and some other details about potential counter-bids or the sale of parts of NEX that CME may not want. That news caused me to stay at the bar until 1 PM in search of other sources, but I found none. I did find sources yesterday who confirmed the CME was having an emergency board meeting,…

Spot Trading cuts headcount; Wall Street Fines Fall in Trump’s First Year; J.P. Morgan’s Mobile Payments Struggle John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff Exchange Analytics has released a new Market Conduct Training Course.~JJL The World Gold Council reports that gold-backed ETF holdings increased by 3.3 in October to 2,347.6 tonnes. Europe led inflows, as investors added 11.2t of gold through funds; North America had outflows of 8t, reversing some September gains; funds in Asia gained 0.8t, but ETFs in other regions lost -0.7t in October. This is amid a year-on-year 9% drop in general demand for gold to 915 tonnes.~SR The CME’s Blu Putnam and Erik Norland have another piece out comparing the characteristics of…

The market’s risky bet on stability; Bets on a stock market rally using options just hit record levels; Euro Is Suddenly Everyone’s Favorite After First Round of French Election Newsletter,Options

Observations & Insight Did you know? Jim Kharouf and Spencer Doar – JLN Moscow, OneChicago, MexDer, Fear Gauge and Trump Street with an Irish twist. No, they are not connected. One of the interesting things about updating annual volume figures on our MarketsWiki site is the snapshot of how a particular exchange has been doing over a number of years. The FIA Annual Volume Survey shows a couple of unusual suspects in the top 5 in 2016 with the National Stock Exchange of India coming in second and the Moscow Exchange at number four in terms of derivatives volumes. At…

Big Banks Poised to Scoop Up Fintech Startups, Report Finds; Frankfurt-London Truce Died Along With Deutsche Boerse Deal; Data Clash Heats Up Between Banks and New York Stock Exchange John Lothian Newsletter,Newsletter

First Read NEX Stop, The Future Of Markets Jim Kharouf – JLN Sometimes the machine needs a reboot. Such is the case with NEX Group, the former ICAP group minus the ICAP voice brokerage business. By now, we know that NEX’s CEO Michael Spencer looked to the future and decided that voice brokering wasn’t it. That doesn’t mean it isn’t valuable. But it just isn’t what he wants to do with his time or shareholder money. So what’s left? Plenty actually, although it took me a while to figure it out. In a simplistic sense, the company is rolling all…

NEX Stop, The Future Of Markets Blog,Commentary,Feature

Sometimes the machine needs a reboot. Such is the case with NEX Group, the former ICAP group minus the ICAP voice brokerage business. By now, we know that NEX’s CEO Michael Spencer looked to the future and decided that voice brokering wasn’t it. That doesn’t mean it isn’t valuable. But it just isn’t what he wants to do with his time or shareholder money. So what’s left? Plenty actually, although it took me a while to figure it out. In a simplistic sense, the company is rolling all of its trading platforms, technology companies and venture capital arm into one…