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Tag Archives: OCC

A Chat with Boris Ilyevsky on ISE’s New Options Exchange, ISE Gemini Interview,Options

ISE Gemini

The International Securities Exchange launched a second options exchange, ISE Gemini, on August 5, its latest effort to gain an edge in the hyper-competitive equity options field. JLN editor Sarah Rudolph spoke with Boris Ilyevsky, managing director of ISE’s options exchanges, about the Gemini’s pricing structure and first offerings, the difference between ISE’s two venues and the equity options landscape. ISE Gemini traded 400 contracts on its first day, according to the OCC. Q: What is the rationale behind ISE Gemini’s pricing structure?  A: Gemini will have a maker-taker style fee schedule where resting orders and market maker quotes earn…

Changing of the guard: Mike Cahill talks about new CEO post at OCC, and how things aren’t really changing Interview,Options

Michael E. Cahill

Changing of the guard: Mike Cahill talks about new CEO post at OCC, and how things aren’t really changing Yesterday, Mike Cahill was named as the next CEO of the OCC, (formerly Options Clearing Corporation. The move marks a historical changing of the guard at OCC.  Cahill, currently president and COO at OCC, will take the post on January 1, 2014 and succeeds Wayne Luthringshausen, who has held the chairman and CEO posts for 40 years and is retiring at year end. The executive chairman’s position will be separated from the CEO post, and a search is still ongoing for…

JLN Options: ISE Shelves Plan to Bring Pari-Mutuel Settlements to Options Market Newsletter,Options

Lead Stories ISE Shelves Plan to Bring Pari-Mutuel Settlements to Options Market  Katy Burne – The Wall Street JournalAll bets are off on one firm’s bid to make playing the options market a bit more like going to the track.The International Securities Exchange has shelved plans for an options contract using technology also known in the world of horse races — so-called pari-mutuel settlement, in which all bets are pooled upfront and the winners’ take comes out of the pool.http://jlne.ws/1azr690 Big Rally — So the Market Defies Gravity?Andrew Giovinazzi – The Options InsiderWhat a difference a day makes.  The relatively subdued…

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: Sprecher Has Tough Task Killing PFOF Newsletter,Options

Lead Stories Sprecher Has Tough Task Killing PFOFDan Collins – Dan Collins ReportIn doing research for an upcoming post—on one of the previous periods trend following was declared dead—I came across a story in an old issue of Futures that relates to Intercontinental Exchange Chairman and CEO Jeff Sprecher’s recent declaration to end payment-for-order-flow (PFOF) on the exchanges he is acquiring.http://jlne.ws/1aans4l Options Traders See Junk Bonds Falling Further  Kaitlyn Kiernan – The Wall Street JournalHigh-yield bonds have taken a big hit in recent sessions, in a selloff that some options traders think will continue.http://jlne.ws/11YymkC S&P 50-day MA Key LevelDan Collins –…

JLN Options: NYSE Euronext Shareholders Approve Acquisition by IntercontinentalExchange Newsletter,Options

Lead Stories NYSE Euronext Shareholders Approve Acquisition by IntercontinentalExchange  Press Release (NYSE Euronext)NYSE Euronext (NYSE: NYX) today announced that its shareholders have approved the acquisition of the Company by IntercontinentalExchange (NYSE: ICE), a combination that joins two of the world’s leading operators of markets and exchanges to create the premier global exchange operator.http://jlne.ws/11mOi3F The Options Industry Council Announces May Options Volume Increased 2 PercentPress Release (OIC)The Options Industry Council (OIC) announced today that 386,428,255 total options contracts traded in May, which is up 2.35 percent compared to last year when 377,539,997 contracts were traded.Average daily volume in May came in at…

JLN Options: Potential Tax Change Could ‘Decimate’ Options Trading Volume Newsletter,Options

Lead Stories Potential Tax Change Could ‘Decimate’ Options Trading Volume  Kaitlyn Kiernan, The Wall Street JournalTabb Group’s Andy Nybo weighed in Thursday and on a proposed tax change that could “decimate trading volumes” in the options industry.http://jlne.ws/Z5D5DR U.S. options clearer moves to end trade type dominated by NasdaqAnn Saphir, ReutersThe clearinghouse for all stock options said Thursday it will adopt a policy aimed at abolishing a dividend-linked trading strategy that critics say could destabilize markets if left unchecked.http://jlne.ws/Z5E2MB New CBOE CEO Aims to Take Volatility Franchise Global  Jacob Bunge, The Wall Street JournalThe new chief executive of the Chicago Board Options Exchange…

John Lothian Newsletter: LSE Offers Single-Stock Options Trading; U.S. options clearer moves to end trade type dominated by Nasdaq; EnterNext, NYSE Euronext’s new SME marketplace, goes live John Lothian Newsletter,Newsletter

London Stock Exchange plans to begin single-stock options trading next month. Options clearinghouse OCC plans to undo dividend-linked options trading, something that has been popular on Nasdaq’s option-trading platform. NYSE Euronext opens the door and turns on the lights at Enternext, its new small-to-medium company trading venue.

JLN Options: Big Hedge Funds Suddenly Bullish Newsletter,Options

Lead Stories Big Hedge Funds Suddenly Bullish  Steven M. Sears, Barron’sA tectonic shift in the options market suggests that big money is now chasing the rally higher. Now bears get a discount.http://jlne.ws/12K47kL Equity options rebound in AprilFOWUS market growth has driven the most active April in US equity options history, indicating a possible upturn after a lack-lustre first quarter’s trading writes Jonathan Watkins.http://jlne.ws/14O5SNZ The VIX: It Could Get Ugly Soon  Adam Warner, Schaeffer’s Investment ResearchNow, there’s no law that says VIX has to move anywhere. Way back before anyone paid attention to VIX — like in the 90s — volatility didn’t fluctuate…