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John Lothian News Special Report: Unchained: How Blockchain And Bitcoin Are Going Mainstream Special Report

Adam Honoré, CEO of the fintech consulting firm MarketsTech, keeps a stock certificate on his wall of a dot com bust called Broadvision. While it’s a painful reminder that he is a much better technologist than stock picker, that certificate is now emblematic of a new technology – blockchain – that could ultimately change the structure and infrastructure of financial markets. Blockchain technology, defined as a ledger of all Bitcoin transactions that have been executed, both threatens and offers a unique opportunity for the financial markets. Because blockchain technology is able to hold critical information on the ownership of a…

John Lothian Newsletter: China’s stock index futures unseat S&P to become world’s most traded; A Bitcoin Technology Gets Nasdaq Test; Big Sugar Order Gives Prices a Jolt John Lothian Newsletter,Newsletter

First Read Keeping Tabbs on the Options Industry Sarah Rudolph – John Lothian News The outlook for the options industry is a lot less sunny than the skies in Miami Beach, if you listen to the Tabb Group’s Andy Nybo. The industry faces major challenges right now, including a lessening of liquidity, widening bid-ask spreads, and market fragmentation, Nybo told the audience Thursday morning at the Options Industry Conference in Miami Beach. A recent Tabb study found that these are particular problems for institutional traders, he said. Overall spreads have widened, but the tiering of liquidity has created a bifurcated…

John Lothian Newsletter: Liquidity storm could throw UK into chaos, Bank of England warns; TT gets $16m as court finds against CQG in patent trial; London Stock Exchange shares slide as Borse Dubai sells 17% stake John Lothian Newsletter,Newsletter

First Read East and West: CME’s Gill Looks For Growth in Asia and Europe JohnLothianNews.com Forget the doom and gloom of years past in the markets. CME Group had a great year in 2014, even with the ongoing headwinds from the Fed’s ongoing freeze on interest rates and more regulation hitting the market-base, said Phupinder Gill, CME’s CEO, at the FIA Boca conference. “We saw double digit growth in fourth quarter across all six of the asset classes,” Gill said, adding that the exchange ended up handling about 13.7 million contracts per day for the year. “I’m very pleased to…

New Energy: Nasdaq’s Greifeld Looks To Shake Up Energy Space Interview,Video

Nasdaq’s CEO Bob Greifeld shook things up at the FIA Boca Conference with the announcement it plans to launch a new futures exchange that will focus on energies, bringing new competition to the Intercontinental Exchange and CME Group. Greifeld spoke with John Lothian News editor-in-chief Jim Kharouf about the new pricing and clearing model, as well as his views on regulation, technology and how Nasdaq is positioned going forward. “The statement of the problem is this, we do not have a single customer who says ‘I would prefer to be in a vertical monopoly, I prefer to be in a…

John Lothian Newsletter: S.E.C. Wants the Sinners to Own Up; US swaps market resists futures model; Dodd-Frank reforms face new assault John Lothian Newsletter,Newsletter

First Read A Boca Oversight Doug Ashburn – JLN If you read last week’s newsletters, you know that we were publishing remotely from the FIA conference in sunny Boca Raton, Florida. Though I would say we, in general, did an admirable job pumping out the content amid all of the panels, side meetings and “extracurriculars,” a few few items may have slipped through the cracks. One big news item we missed, due to a communications glitch, is the announcement Thursday that Société Générale Prime Services (formerly Newedge) is taking an equity stake in Eris Exchange. This move, aside from the…

Boca Bits & Pieces, Day Two Blog,Commentary

Wednesday’s big news came from Nasdaq, which announced plans to enter the energy futures market, challenging the dominance of the CME and ICE. Named Nasdaq Futures (NFX), the new market will launch around midyear with support from leading energy companies. “What do the CME, ICE and Hillary Clinton have in common?” Nasdaq’s CEO Bob Greifeld asked reporters. His answer? “All seem to have a monopoly on their exchanges.”   “We’re here to disabuse you of that idea,” he added. “Monopolies are against the natural order of competitive forces.” Not one of Nasdaq’s customers wanted the new exchange to be a…

Charlotte Crosswell, CEO, Nasdaq NLX – Startups Aren’t Just Found in Garages Video

“When people are sitting there talking about you and criticizing you or doing something against you, that means they’re taking notice.” Charlotte Crosswell, CEO of Nasdaq NLX, talks about her introduction into the financial industry and how she found herself in her current role. Beginning with a temporary position at Goldman Sachs, Crosswell assisted a salesperson who needed someone who understood French. She later moved on to the London Stock Exchange and has been in the exchange world ever since. Because of her own experiences, Crosswell emphasizes the importance of work experience versus just having a degree. Crosswell also discusses…

Another Day, Another Glitch Commentary,Options

SEC

Actually, there were two unrelated glitches in the options market today, and one yesterday. First, ISE had a technical issue in a software configuration interrupted its price feed into OPRA this morning. Around this same time, the CBOE’s benchmark volatility index experienced erratic price gyrations on three separate occasions. Yesterday’s data feed disruptions at NASDAQ, it turns out, resulted from a “human error” related to an operational function. Coincidentally, yesterday morning WSJ’s Paul Vigna commented on how common such technical failures are, and how little impact they have on the markets. (See: “Exchange ‘Glitches’ Are a Feature of the System,…

JLN Options: ICE postpones date of purchase of NYSE, Options Market Hit With Data Disruptions as VIX Lurches Newsletter,Options

Observations & Insight Another Day, Another GlitchJohn Lothian News Actually, there were two unrelated glitches in the options market today, and one yesterday. First, ISE had a technical issue in a software configuration interrupted its price feed into OPRA this morning. Around this same time, the CBOE’s benchmark volatility index experienced erratic price gyrations on three separate occasions. Yesterday’s data feed disruptions at NASDAQ, it turns out, resulted from a “human error” related to an operational function. Coincidentally, yesterday morning WSJ’s Paul Vigna commented on how common such technical failures are, and how little impact they have on the markets….