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NASDAQ Outage Should Spur Competition Commentary,Regulation,Tech / HFT

John Lothian

Yesterday’s NASDAQ outage was perplexing to me as someone who is completely befuddled by the complex securities trading market structure. I am still waiting to find someone who can completely explain to me how the securities markets work. In detail. Down to the order type. If this outage had happened at a futures exchange, especially one with a contract listed by other exchanges, we would have seen the volume move to the exchanges that were still trading. There would have likely also been a decline in overall volume, much like we saw yesterday, but traders would have still had a…

JLN Options: Investors Show Confidence That New Stock Market Calm Will Linger Newsletter,Options

Lead Stories Investors Show Confidence That New Stock Market Calm Will Linger Kaitlyn Kiernan – The Wall Street Journal With the stock market resuming its rally after a bout of indigestion caused by worries about the outlook for Federal Reserve policy, options investors appear to be thinking the calm will last. As stocks have pushed back into record territory and the Chicago Board Options Exchange’s Volatility Index has declined over the last three weeks, far fewer investors are placing bets that the quiet will be short-lived and the VIX will spike higher. http://jlne.ws/1dF8kJD **At last glance the VIX was down…

JLN Options: Court Rules TOM May Continue To Offer Options Based On The AEX Newsletter,Options

Commentary & Insight A Look at Forensic Accounting and Financial FraudMarketsWiki.tv In the aftermath of the Peregrine Financial Group fraud, many wondered how it could have happened and how forensic accounting works after a fraud occurs. On June 20, John Lothian News president and editor-in-chief Jim Kharouf moderated a panel at the Women In Listed Derivatives (WILD) event on forensic accounting with John Hague, financial services industry leader with McGladrey and Christen Morand, senior manager, Ernst & Young. He sat down with both separately to ask about the accounting space today and how forensic accounting digs into fraudulent cases. Watch…

JLN Options: Thomson Reuters to buy FX option business from Tradeweb Newsletter,Options

Commentary & Insight John Lothian Announces Summer Intern Industry-wide Education Program in ChicagoJohn Lothian – JLNJohn J. Lothian & Company, Inc. is pleased to announce today the creation of a Chicago-based industry-wide summer intern education series to introduce the history, innovation, key leaders and future opportunities to participating interns, summer workers, new employees and those interested in careers in the trading and markets.  The series, which kicks off on July 16,  features presentations from a select group of industry leaders, innovators, entrepreneurs, attorneys, technologists, investors, traders and other industry participants.Click here for more information and/or to purchase tickets. Lead Stories…

JLN Options: FOA and FIA Announce Agreement to Combine Organisations under Global Structure Newsletter,Options

Lead Stories FOA and FIA Announce Agreement to Combine Organisations under Global StructurePress Release (FOA and FIA)The Futures and Options Association and the Futures Industry Association today announced an agreement in principle to combine their two organisations under one global structure and brand called FIA Global.Under this agreement, FIA—with its affiliate FIA Asia—will form a confederation with FOA under FIA Global.http://jlne.ws/147xCfD (PDF)FAQs on FOA and FIA Affiliation: http://jlne.ws/13VRMKS (PDF) Equity Volatility Surges Globally Amid Record Futures: OptionsCecile Vannucci and Nikolaj Gammeltoft, BloombergBusinessweekStock volatility jumped around the world, with the U.S. benchmark gauge surging the most in two months, after speculation…

JLN Options: As Investors Pour Money Into Stocks, Volatility Drops Newsletter,Options

Lead Stories As Investors Pour Money Into Stocks, Volatility DropsScott Gamm – FortuneThe start of 2013 was welcomed by the fiscal cliff drama turning out to be just that: drama. Stocks reacted well, as the S&P 500 jumped 5% in January. As a result, investors started pouring money into equities, but not for all of the right reasons.http://jlne.ws/19Srk9X CME Rally Signals Volatility as Tapering Mulled: Credit MarketsMatthew Leising – BloombergThe surge in bond market volatility and trading volumes stemming from the prospect of rising interest rates, which JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon called “scary,” has…

JLN Options: Exclusive: ICE to win EU approval for $8.2 billion NYSE bid – sources Newsletter,Options

Commentary & Insight Jack Schwager on Market Wizards and How the CTA Space is ChangingMarketsWiki.tv Jack Schwager is a well-known name in the financial market community today, as author of trading classics such as: Market Wizards in 1989, The New Market Wizards in 1992 and Stock Market Wizards in 2001. He’s added to the series in May 2012, with Hedge Fund Market Wizards, and more recently released book Market Sense and Nonsense, where he explores investment models and the theories of how markets work. He spoke with JLN editor-in-chief Jim Kharouf about hedge fund managers and how the CTA space…

JLN Options: Stock-Market Volatility Bets at Record Amid Fed Concern: Options Newsletter,Options

Commentary & Insight Justin Llewellyn-Jones of Fidessa Talks ISVs, Regulation & TechnologyMarketsWiki.tv Justin Llewellyn-Jones, chief operating officer of Fidessa, thinks globally and well, acts globally too. Llewellyn-Jones spoke with JLN editor-in-chief Jim Kharouf about how Fidessa is adapting to the new global marketplace and the demand for multi-asset class platforms and networks. Watch the video » Lead Stories Stock-Market Volatility Bets at Record Amid Fed Concern: OptionsCecile Vannucci & Nikolaj Gammeltoft, BloombergWidening swings in U.S. shares have prompted options (VXX) traders to make unprecedented bets on equity volatility, pushing bullish and bearish contracts to records amid concern the Federal Reserve…

John Lothian Newsletter: SEC to propose money-fund reform next week; LME traders back HKEx’s Asia-centric plans; The SEC’s Play-by-Play of Nasdaq’s Facebook Disaster John Lothian Newsletter,Newsletter

The SEC intends to announce its first ideas for reform in the money market sector next week. Even as the focus for the London Metal Exchange shifts toward Asia and its new parent, traders there are supportive of the new direction. The SEC’s anticipated fine and decision arrives for Nasdaq’s substandard handling of last year’s Facebook IPO.