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Tag Archives: MIFID

SEC to give MiFID reprieve; Big exchanges ask SEC to hold off on fee cap plan; Capital rules and clearing risks John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff FIA EXPO is opening in Chicago today after some opening parties last night. We look forward to a great week of conducting interviews in the Cinnober booth on the EXPO exhibit hall, attending the sessions and seeing too many readers and industry friends to be counted. Feel free to stop us and say hello if you see any of the JLN team.~JJL One year ago the Dow sat at 18,086. Yesterday, the index touched the 23,000 mark for the first time. Give it another 13,000 points and Kevin Hassett and James Glassman…

Dark Trading Could Triple in Europe; SEC Defends CAT Plan After Hack; Regulatory ‘false choice; John Lothian Newsletter,Newsletter

First Read Hits & Takes A KISS Goodbye In case, you missed it, (and we did), the deadline for Project KISS from the CFTC ended on September 30th. If you want to see who said what about whatever can be improved on Dodd-Frank, all comment letters can be found here.. Among the names included on the KISSing contest were CME Group, which had a number of proposed rules it found problematic, including the Reg AT and position limits rule, not to mention liquidity resources which somehow do not count US Treasuries. Good reading, and only 37 pages for Christopher Kirkpatrick,…

Equity volatility schemes seen widely used; Volatility risk endures; Laszlo Birinyi’s calls Newsletter,Options

Observations & Insight Crypto Developments of the Week – There Were a Lot Spencer Doar – JLN The news just won’t stop in the crypto space and with the big exchanges making moves, new platforms seemingly launched every day, ETFs trying to get off the ground and regulatory concerns, it is worth reviewing some of the week’s news. Most of the developments were setbacks. Reuters has an expose out today about how chaos and hackers stalk investors on cryptocurrency exchanges. Plus, there are ongoing concerns about about transaction and transfer costs in bitcoin as Bloomberg laid out in today’s Paying…

Regulatory Preparedness: Are We There Yet? Feature,Video,video

“The nature of what firms want to buy in this space has changed dramatically. They don’t want an integration project, they don’t want a problem.  They are really looking for suppliers who can deliver everything in one place — kind of a one stop shop. Trade once, report it everywhere is the ideal.”  – Collin Coleman, CEO of Abide Financial As MiFID II implementation looms, firms can take some solace in knowing the general pathway forward, though there are still Q & A’s floating around and standards yet to be released. In this video, Christian Voigt, senior regulatory adviser with…

CBOE Holdings Announces First Stages of Technology Integration Plan; MiFID unbundling and best ex set to have global impact; Fed’s Evans says he supports one or two more rate hikes this year Newsletter,Options

Observations & Insight Trigger pulled! A collection of UK news Not only was Brexit “triggered” since our last newsletter, the European Commission put the final nail in the proposed LSE-Deutsche Boerse merger. There’s a ton out there on the two subjects. I’ve cobbled together an array of stories about the two events so you can pick and choose. For a one stop shop, check out The Guardian as it has a live updates page that covers both the failed merger and Brexit proceedings. LSE-Deutsche Boerse stories Financial Times – Brussels blocks London Stock Exchange-Deutsche Börse merger Financial News – LSE-Deutsche…

Regulation as a Main Driver of Change in the Sell Side Industry – Karl Hagerman, SEB MarketsWiki Education,MWEd,Video,video

“Technology is really becoming an enabler to stay compliant because you can understand the huge amount of data in these complex networks that you have to store, structure and provide to the authorities if requested. That is lot of big data management.” Karl Hagerman works in the engineering team for the Sweden-based corporate bank SEB. He witnessed the regulations and financial innovations that have shaped the Nordic markets over the past thirty years and will “radically change” markets in 2018. Before 2007 and after some early exchange consolidation, all the trading in Sweden was done at one exchange, OMX, in…

Solidifying an American foothold: LSEG’s UnaVista and MTS platforms look to expand Blog,Commentary,Feature,Fintech,Investing & Trading,Mwiki,Regulation

The London Stock Exchange Group has plenty of reasons to be in the news due to its pending merger with Deutsche Boerse, but while all of those discussions take place, parts of the LSEG family are making moves of their own. The two arms in motion are MTS, a bond trading platform, and UnaVista, a back and middle office platform for reconciliation, reporting, matching and validation. Both are in a similar situation — they have a large presence in Europe but not so much in the United States. For example, MTS is dominant in EU sovereign bond trading and UnaVista…

Scott O’Malia, ISDA – The Financial Crisis and Its Aftermath Feature,MWEd,Regulation,Video,video

“When I first took the job, people said, ‘Scott, you know, it hasn’t been all that busy. You might want to think about getting a hobby.’ Well, the financial crisis hit. We had to implement Dodd-Frank. I had no need for hobbies. I had no time for hobbies.” In this MarketsWiki Education video, Scott O’Malia, CEO of ISDA and a former CFTC commissioner, breaks the aftermath of the great financial crisis into a three act play that parallels his career. First, O’Malia worked for a senator with a prominent role on the budget committee and helped with the initial legislative…

Volatility slump defies election shock; Independent US oil producers increase hedges for 2017; Profiles in Uncertainty – Election Night Lesson in Market Dynamics Newsletter,Options

Observations & Insight How we talk Jim Kharouf – JLN My column yesterday, What Just Happened about the election of Donald Trump as the next president of the United States struck a chord with readers. We received more reader feedback on this column than we have in some time, some negative, some supportive. Here are a few. “Thanks for this insightful OpEd. You articulated so many feelings I’m still trying to process.” And this: Wow, what an ignorant, cheap shot to smear nearly 60 million Americans that way. Deplorables, right? As a life-long New Yorker, I’ve watched Trump in action…