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JLN Options: Investors Seek More Transparency on Corporate Hedging, Derivatives Exposures Newsletter,Options

LEAD STORIES Investors Seek More Transparency on Corporate Hedging, Derivatives ExposuresEmily Chasan, The Wall Street JournalCorporate disclosures on hedge accounting and derivatives trading are so opaque that investors are often unable to see the true risks companies face from engaging in those activities, according to a new report from the CFA Institute, which is recommending companies improve disclosures in those areas. S&P 500 Advances to Five-Year High on Economic ReportsBy Rita Nazareth & Sarah Pringle, BloombergU.S. stocks rose, sending the Standard & Poor’s 500 Index to a five-year high, amid better- than-forecast initial jobless claims and housing data. GFI announces…

John Lothian Newsletter: Nasdaq plan to offer algorithmic trading denied by U.S. regulator; CFTC Follows SEC in Permitting Offsets for Cleared CDS at ICE; Traders warn Germany on HFT licensing John Lothian Newsletter,Newsletter

Nasdaq’s plan to offer algorithmic benchmark trading skids off the rails as the SEC gives a thumbs-down, citing competition and other concerns. The CFTC stamps approval on a permit for ICE to offset cleared swaps for individual investors. In Europe, exchange operators and high-frequency traders warn Germany that proposals to require HFT entities to seek approval to trade could cause more trouble than they save. The next installment of JLN’s Restoring Customer Confidence series has arrived in First Read today; be sure to take a look.

JLN Options: Options Traders Discard Safety Net as Stocks Rise Newsletter,Options

Lead Stories Options Traders Discard Safety Net as Stocks RiseKaitlyn Kiernan, The Wall Street JournalIn the new year, options traders seem to have settled on a resolution: no more hedging for the worst.**TD Ameritrade’s Joe Kinahan: “What we know about the government is that they like to push everything to the last minute.”   Uh huh. — SR FX options clearing analysis in final stagesJoel Clark, Risk MagazineThe GFMA’s global forex division is understood to be close to completion of its analysis of five years of options trading data – a project that is intended to lead to a…

JLN Options: New Lows for Volatility ETFs as VIX Drops to 2007 Levels Newsletter,Options

Lead Stories New Lows for Volatility ETFs as VIX Drops to 2007 LevelsJohn Spence, ETF TrendsAnother day, another all-time low for volatility-linked exchange traded products such as iPath S&P 500 VIX Short Term Futures ETN (NYSEArca: VXX) and VelocityShares Daily 2x VIX Short-Term ETN (NYSEArca: TVIX). What’s really going on in VIXChris McKhann, optionMONSTERIn the last few days, a steady stream of guests on financial TV have pontificated about the CBOE Volatility Index and what it means. Most of them apparently don’t know what they are talking about, but the fiscal-cliff volatility and subsequent record drop in the VIX have…

JLN Options: No Nervousness on ‘Fiscal Cliff,’ but It’s a Headwind Newsletter,Options

Lead Stories No Nervousness on ‘Fiscal Cliff,’ but It’s a HeadwindBob Pisani, CNBCSo the spread between the cash VIX (roughly 16) and the most active front month contract (February, at roughly 17) is about 100 basis points. The normal spread is at least 200 basis points. Not only is there no worry, but there is less demand for protection than might be expected. The Biggest Waste of Money in 2012Dan Caplinger, The Motley FoolSmart investors understand that in order to earn healthy returns, you have to be willing to take on risk. But along the way, some investors decided that…

JLN Options: NYSE Arca Options announces Mini Options Launch Date of March 18, 2013 Newsletter,Options

New Restoring Customer Confidence Video The second video in our Restoring Customer Confidence series deals with customer segregation. Each week we will post a new idea answering the question – how do you restore customer confidence and bring traders back? Restoring Customer Confidence More ideas» Customer Segregation: A Clear View Moving excess customer funds to a clearing house is one way to reduce the amount of capital at risk. Byron Baldwin, SVP, Buyside Relations at Eurex, says his exchange developed segregated account services that can be as wide or granular as needed. Watch the video » This video is…

JLN Options: High-Yield Bond ETF Implied Volatility Skyrockets Newsletter,Options

Lead Stories High-Yield Bond ETF Implied Volatility SkyrocketsJohn Spence, ETF TrendsWall Street’s fear gauge, the CBOE Volatility Index, has remained quiet despite the market’s recent choppiness on fiscal cliff fears and Europe’s debt crisis flaring up again. However, popular high-yield bond ETFs are telling a different story.The VIX fell 7% during Monday’s stock rally and is hovering near multiyear lows. Why is the VIX So Low?Teeka Tiwari, NASDAQ The VIX, also known as the “fear indicator” in a measure of the amount of people buying downside protection options (Puts) on the S&P 500.  When the market is getting clobbered (like…

John Lothian Newsletter: Nasdaq Opens Danish Bond Exchange in Loan Drought; CFTC to Appeal Ruling Rejecting Dodd-Frank Trading Limits; ICAP closes a US trading division John Lothian Newsletter,Newsletter

Nasdaq rolls back the tarp on a new trading platform in the hopes of matching investors to Scandinavian bonds. The CFTC votes to appeal the recent court decision rejecting its position limit proposal. Broker ICAP decides to shut down NYSE floor trading operations as it works to weather the global low-volume storm. If you haven’t already, take a look at JLN’s first video in the new Restoring Customer Confidence series, as Ron Filler of New York Law School examines how gross margining can improve the risk to customer accounts.

John Lothian Newsletter: ICE push into Europe with Dutch purchase; Exchanges Face SEC Scrutiny on New Products; Nasdaq pushes into post-trade monitoring John Lothian Newsletter,Newsletter

IntercontinentalExchange hops on the bus to Europe, preparing to take a majority interest in a Dutch energy exchange. The SEC begins to target and investigate exchanges and the way that high-frequency trading customers and processes are handled relative to the rest of the trading population.  As brokers search for better ways to manage trade risk, Nasdaq signals its entry into the post-trade risk arena.