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Tag Archives: OCC

Bringing Nasdaq’s Derivatives Franchises Together Blog,Feature

Kevin Kennedy now has two jobs. Formerly just the head of U.S. options for Nasdaq, he’s now also the head of the Nasdaq Futures Exchange (NFX), a post left open by the departure of Rick Beaman.   Kennedy inherits a still nascent endeavor – it was formed in 2015 – that is largely focused on energy products. Despite its youth, NFX has hit some home runs. NFX’s natural gas options have plenty of traction and the exchange’s open interest in energy products represents 11.5 percent of overall U.S. energy product open interest. The challenge now is to grow NFX’s participatory…

Virtu aims for new revenue mix; War stories from the trading desk; Liquidity risk JLN Options Newsletter,Newsletter,Options

Observations & Insight Bits and Pieces Spencer Doar – JLN SIFMA’s Listed Options Symposium is next Thursday, November 15, in New York. If you’re like me and can’t attend, SIFMA is offering a webinar, too. Register here. John pointed out in this morning’s newsletter that NYSE’s FANG+ Index Futures posted record ADV in October of 3,100 contracts. But NYSE’s options on that index are not getting much volume – each time I check it’s a handful or two of contracts. As of this writing, today 11 contracts have changed hands. Today is Molly McGregor’s last day with Hanweck. The firm…

The Options Scheme Targeting a German Soccer Team; MIH and OneTick Newsletter,Options

Observations & Insight The Spread – Believe in Ghosts? – 10/26 JohnLothianNews.com What’s the deal with October? Watch the video and see the stories referenced here » ****SD: Mike Forrester, JLN’s jack-of-all-video-trades, got to play with some different effects when producing this episode of “The Spread.” Lead Stories The Get-Rich-Quick Scheme That Almost Killed a German Soccer Team; An electrician’s odd plot to make $607,933.50. Thomas Rogers – Bloomberg (SUBSCRIPTION) The bombs were ready to detonate when the black-and-yellow bus pulled into L’Arrivée Hotel & Spa, on the outskirts of Dortmund, Germany, on April 11, 2017. The driver, Christian Schulz,…

Listless VIX and “Dumb Money”; OCC’s Fennell; What is Bill Gross’ Fund Doing? JLN Options Newsletter,Newsletter,Options

Observations & Insight Are Lessons from the Financial Crisis Being Heeded? with OCC’s John Davidson JohnLothianNews.com “Forgetting the lessons of the past – not focusing on fat tails, not focusing on liquidity – is going to lead us down a primrose path that actually has a big pothole in the middle of it.” No financial crisis is the same, but they often share common themes. In this video, OCC President and COO John Davidson talks about what lessons he took away from 2008 and what might still get markets into trouble. Watch the video and read the rest » Lead…

Are Lessons from the Financial Crisis Being Heeded? Feature,Video,video

“Forgetting the lessons of the past – not focusing on fat tails, not focusing on liquidity – is going to lead us down a primrose path that actually has a big pothole in the middle of it.” No financial crisis is the same, but they often share common themes. In this video, OCC President and COO John Davidson talks about what lessons he took away from 2008 and what might still get markets into trouble.   Produced by Mike Forrester

OCC’s new tech must be blockchain compatible; TT and TradeStation on OOFs JLN Options Newsletter,Newsletter,Options

Lead Stories OCC says new tech must be compatible with blockchain Louisa Chender – Global Investor Group (SUBSCRIPTION) “We want to make sure we have technology that is easily compatible with blockchain,” John Davidson, president and chief operating officer of the OCC, told FOW. Nevertheless blockchain is about an environment where participants do not know or trust each other, which is not the case in the clearing space. “Clearing is a trusted counterparty environment and doesn’t necessarily really need the overhead with regards to blockchain,” Davidson said. He added: “However, there is a need with regards to securities lending which…

Investment fund K2 accused of manipulative order ‘spoofing’ by OSC staff Newsletter,Options

Lead Stories Investment fund K2 accused of manipulative order ‘spoofing’ by OSC staff Barbara Shecter – Financial Post OSC staff allege there were about 60 incidents of ‘impugned trading’ involving derivatives between October and December of 2016 bit.ly/2EA9G1W ****SD: A Canadian options spoofing story! Apparently, folks at K2 would place a small electronic order on the Montreal Exchange via direct electronic access to distort the bid ask spread, initiate chats with bank desks to execute an order on the other side and then cancel the electronic order. In an example given by the OSC, K2 was able to bring down…

The OCC Capital Plan; LME’s Copper Dominance Tested; VIX Surge JLN Options Newsletter,Newsletter,Options

Observations & Insight Tuesday’s Tidbits Spencer Doar – JLN Yes, the VIX has been on the rise, but VIX activity pales in comparison to that of Cboe’s Brazilian volatility gauge (VXEWZ), which is the VIX methodology applied to the iShares MSCI Brazil Index Fund (EWZ) instead of the S&P 500. It averages much higher readings than the VIX, spending most of 2017 between the high 20s and mid 30s. In light of the results of Brazil’s general election – in which Jair Bolsonaro dominated 12 opponents (46 percent of the vote compared to the 29 percent of his closest opponent)…

OCC default fund shrinks $3 billion; EU fights over prop trader rules; Iranian derivatives JLN Options Newsletter,Newsletter,Options

Observations & Insight Build or Buy? Exchanges Continue to Branch Out For Revenues Through Acquisition Jim Kharouf – JLN Exchanges are continuing to look at two areas for revenue growth – consolidation and acquisition of non-exchange service firms, according to a new report from Burton Taylor. – The report, presented at the World Federation of Exchange’s General Assembly and Annual Meeting in Athens and authored by Andy Nybo, shows that ICE topped exchanges in revenue in 2017 with $4.6 billion, followed by CME with $3.6 million, Deutsche Boerse with $2.7 billion, LSE Group with $2.5 billion and Nasdaq with $2.4…