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Tag Archives: mutual funds

Basel III sparks trader retreat from listed derivatives John Lothian Newsletter,Newsletter

First Read AI is changing this industry. Now what? Jim Kharouf – JLN I spent last week listening to experts in artificial intelligence talk about what AI can and will bring to the markets and the broader world. What is patently clear is that AI is here now and is only going to expand. As Jay Biondo, product manager, surveillance at Trading Technologies told me, it’s everywhere already – from Amazon’s Echo (usually called Alexa) to Netflix’s suggested picks. It’s part of Charles Schwab’s brokerage service which will allow its brokers to service thousands instead of hundreds of customers, according…

John Lothian Newsletter: Nasdaq to Buy International Securities Exchange; Here’s Why Fintech Companies Are Opting to Stay Private; Why Citadel opposes IEX’s stock exchange application John Lothian Newsletter,Newsletter

First Read The Curious (or Not So Curious) Case of Our Current Regulatory Environment Carl Gilmore, President, Integritas Financial Consulting In the old days on the exchange trading floors there used to be a saying – “No matter what you did the night before, you have to make the bell.” The clear implication being that a hangover was no excuse for not showing up and doing your job. In some ways the current regulatory environment is like a big hangover. It shouldn’t surprise anyone that after the credit crisis, MF Global, Peregrine, Lehman and Sentinel, etc. that the regulatory community…

John Lothian Newsletter: FXCM Has Tripled in December; China Said to Suspend Foreign Banks’ Cross-Border Yuan Business; Private Tax System That Saves Them Billions John Lothian Newsletter,Newsletter

First Read Haim Bodek, Decimus Capital Markets – A Flash Course on Market Structure “In the market there are edges that are permissible, and edges that are impermissible. It is the impermissible ones that you should care about. If it doesn’t smell right, leave.” The 2014 publication of Michael Lewis’ Flash Boys ignited a firestorm of accusations and lawsuits regarding the tactics used by certain trading firms. It has also led to a robust national debate on market structure. Haim Bodek, a former algorithmic trader who now assists the Securities and Exchange Commission in whistleblower cases, frames this debate…

Peeling back the layers of the European regulatory onion with Finex’s Andrew Gebhardt Managed Futures,Regulation,Video

As regulatory bodies implement sweeping new rules for the financial industry in the wake of the ‘08 crisis, an increasing problem lies in navigating these always complex and occasionally differing rules and regs across international boundaries.   JLN sat down with Andrew Gebhardt, managing partner at Finex LLP, to see how the situation is playing out for investment funds in Europe. The short answer is not well. The disconnect between U.S. and European regulators is so severe, Gebhardt advocates that small firms looking to expand to Europe should consider joining forces with an entity already licensed to created funds —…

Ethan Kahn, Principal, Wolverine Trading, LLC – Exploring ETF’s Tech / HFT,Video

“It’s a very competitive market out there. Constantly innovating and constantly adapting is what makes opportunities occur.” Ethan Kahn, principal at Wolverine Trading, gives an explanation of ETF’s and shows why the product has become popular over the years. Kahn discusses the differences between ETF’s and mutual funds, breaking down how much lower the costs of ETF’s are and how there is more buying and selling flexibility compared to mutual funds. Finally, Kahn explains the importance of innovation and adapting in the financial industry, telling his audience that constantly changing with the industry is key to staying competitive.

JLN Options: Dividend Trades Cease at Three Options Exchanges Newsletter,Options

Lead Stories Dividend Trades Cease at Three Options ExchangesPeter Chapman, Traders MagazineThe controversial practice of dividend-capture options trading has ground to a halt at three of the four floor-based exchanges that have offered it. According to data published by the International Securities Exchange, dividend trade volume disappeared at NYSE Arca, NYSE Amex and Chicago Board Options Exchange in November.**A victory for Gary Katz and the ISE — SR Hedge Funds Think the Fed Will Smother Market VolatilityBrendan Conway, Barron’sHedge funds are perfectly willing to take the other side of your bet on market volatility. In fact, Societe Generale’s strategists are…

Dan Hart of Cortland Fund Services Discusses Series Trusts Interview,Managed Futures,Video

Dan Hart

As the push into managed futures mutual funds continues, we sat down with Dan Hart, managing director with Cortland Fund Services to talk about his firm’s entrance into the series trust space. Cortland is launching its first series trust called the Cortland Cottonwood Series Trust. Hart spoke with JLN Managed Futures editor Jim Kharouf about why Cortland has moved into the series trust arena, how it works and why institutions and CTAs are showing interest.

John Lothian Newsletter: State Street plans OTC derivatives platform; NYSE, Deutsche Boerse Set To Vie For Technology Business; CBOE to List Futures on Brazil, Oil Volatility Indexes John Lothian Newsletter,Newsletter

State Street announces that they plan to start up an OTC swaps trading platform, to go along with a previously-announced swap clearing facility.  NYSE-E and DB, no longer trying to live under the same roof, re-engage as competitors with a focus on trading technology and services.  CBOE announces plans to list volatility index products for Brazilian stocks and oil.  In ongoing stories, the dig into LIBOR-fixing continues to produce results; Volcker is still a household word; and MF Global’s bankruptcy trustee agrees to share nicely with others. In the top box, John Lothian unveils his latest plans for world travel,…

John Lothian Newsletter: CFTC Requires Registration by Mutual Funds With Commodities; NYSE Euronext Chief Faces Up To Standalone Challenges; Eurozone dismisses Greek budget deal John Lothian Newsletter,Newsletter

The CFTC votes 4-1 to require commodity-including mutual funds to register with the agency. NYSE-E’s Duncan Niederauer faces a DB-less future, and surveys the coming challenges. In the latest episode of, “There Will Be Greece,” the Eurozone turns its back to the Mediterranean country’s latest budget cut package, calling it incomplete. In the top box, JLN Editor-in-Chief Jim Kharouf takes a swing at JLN Boss-of-All John Lothian’s opinion of CME Group’s CBOT Building deal; and John bids adieu to Jeremy Grant of the Financial Times (who is only moving to Singapore, not offworld).