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How a volatility virus infected Wall Street Newsletter,Options

virus

Lead Stories How a volatility virus infected Wall Street; The collapse of a few small funds in February helped fuel a terrifying stock-market slide. Why? Robin Wigglesworth – Financial Times Music teacher Chris Pomrink was driving between two lessons outside Philadelphia, when a friend called with some distressing news: “Hey Chris, XIV is in trouble.” Pomrink, 30, checked his trading account. It was February 2 and XIV — an arcane, fiendishly complex financial security that he had sunk $2,500 into earlier that week — had indeed taken a beating. The “exchange-traded note”, or ETN, which allowed traders to bet on…

Senate votes to confirm slate of three CFTC commissioners; Bats fires up debate over NYSE and Nasdaq closing auctions; LSE’s New Brexit Plan to Protect London Financial-Hub Status John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff The U.S. Senate has unanimously confirmed Chris Giancarlo as Chairman, Quintenz and Behnam as Commissioners.~JJL The latest in Asia Pacific Financial News from John Lothian News for August 3, 2017 is available here Trade Alert President Henry Schwartz‘s talk is today’s video from MarketsWiki Education. The other videos we have released so far are Everyone Can’t Be the Best from former NYSE Euronext CEO Duncan Niederauer, The Concept of Basis from Gregg Doud, president of the Commodity Markets Council, and The State of Today’s Markets: Issues and Opportunities from Tabb Group founder…

VIX Owner Plots New Fear Gauge to Help Measure European Fright; Two Exchange Whizzes Try to Tackle CBOE’s Challenges; Dutch alternative derivatives platform TOM to be wound up Newsletter,Options

Observations & Insight JLN Exchange Leader Series 2017: SGX’s Syn Says Trade Barriers Mean Opportunities for Offshore Exchanges JohnLothianNews.com Singapore Exchange’s Michael Syn says that when economic barriers to open trade come down, offshore jurisdictions like SGX can benefit by showing their worth for hedging exposure. The “big three” Asian markets – India, Japan and China – taken together account for about 25 percent of world GDP and 40 percent of world population. But each is regulated very differently and therefore the elements of risk in those countries will not be proxies for each other, Syn said. Each will behave…

Chicago retains role as capital of derivatives industry; Fintech Firm Could Help Unravel Mysteries Behind Flash Crashes; Who Cares About the Fed? Not the World’s Biggest Bond Fund John Lothian Newsletter,Newsletter

First Read Philip Stafford, Financial Times – “The Most Valuable Commodity I Know of is Information” MarketsWikiEducation.com “A market without information doesn’t trade, doesn’t move anywhere. It’s illiquid. Nothing happens and everybody goes away — [that’s] the last thing anyone wants. So information ends up being the most critical thing of all.” Philip Stafford of the Financial Times is both an insider and an outsider in the financial world. He does not make markets, code risk management software or hawk new share offerings to prospective clients. On the other hand, he speaks with people from all corners of the the…

CME’s Duffy will get big pay raise as CEO; Speediest Traders Are Becoming Less Welcome in Currency Markets; Why Goldman Sachs Could Again Rule Wall Street John Lothian Newsletter,Newsletter

First Read Bits & Pieces of Carpet By John J. Lothian I hope you are all recovered from weekend holiday parties so that you can enjoy more work holiday parties this week. We will be taking a break from holiday parties to take apart our office and prepare for the construction and rehab of our space. Employees of John Lothian News will be working from home starting next Monday, through to January 9th when the offices are scheduled to be done. It is best to just reach us by email if you need us. We had input from the whole…

JPMorgan Hit Hardest as EU Fines Euribor Trio $521 Million; Citi trader deepened October’s pound ‘flash crash’; NSE May Put IPO Plan on Ice as Top Execs Quit and Sebi Says No to Self-listing John Lothian Newsletter,Newsletter

First Read David Norman, Essex University – What Sets Graduates Apart? MarketsWikiEducation.com “The industry feels like it has lost its way.” In this video from MarketsWiki Education’s London Event, David Norman, a lecturer at Essex University and Queen Mary University of London, discusses the current landscape of the industry and how to stand out from the competition during a job search. Every year he sees hundreds of students and found that there is no shortage of ‘doers’ — those who can successfully adapt to structure and learn a skill set. To Norman, the industry needs more people willing to think…

Biggest Indian Exchange’s CEO Resigns Just Months Before IPO; DRW Judge Is Told by CFTC That Firm ‘Banged the Close’ Daily; Deutsche Boerse offers gamers place to trade virtual goods John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian The shocking news of NSE CEO Chitra Ramkrishna stepping down right before the long anticipated IPO has implications for the World Federation of Exchanges, where she had just been named chairperson. This type of thing is not unprecedented in the industry organization world. It has happened a couple of times I can think of to the FIA The @JohnLothian twitter handle was knocked from the top spot of Streeteye.com’s Twitter Leaderboard yesterday by @Memorandum. The new leader says it is “the latest political news and opinion from left to right and…

Women Rising To The Top: Chitra Ramkrishna, Adena Friedman Take Top Roles In The Exchange Space Commentary,Exchanges, OTC & Clearing,Feature

There was another historic election this month, this one at the World Federation of Exchanges’ annual meeting in Cartagena, Colombia. The WFE elected the first female chair in its 56-year history. Chitra Ramkrishna, managing director and CEO of the National Stock Exchange of India, will serve as WFE chairperson for the next two years. She succeeds Juan Pablo Cordoba, CEO of the Bolsa de Valores de Colombia. She is also the first woman to head up an exchange in India, beginning in 2013, and has been a pioneer in helping develop India’s capital markets. Neither is a small feat. Ramkrishna…

2016 Exchange CEO Series: SGX’s Boon Chye Expanding With New Products, New Platform in 2016 Video

Loh Boon Chye took over the Singapore Exchange CEO post in July 2015 with a focus on growing the overall business in derivatives, clearing and equities. But he faces headwinds across the asset classes as China’s economy slows. Boon Chye, however, believes the exchange is well positioned to move forward in 2016. SGX has made a name for itself by introducing equity index futures with the Nikkei 225 futures, among others. The exchange now is broadening its China product suite with the introduction of a series of equity derivatives based on MSCI indexes including the MSCI China Free Index. The…