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JLN Options: Options Week in Review March 7, 2013 Newsletter,Options

Bank of America bought 150,000 shares of Constellation Brands, a wine and beer seller, a few days before Constellation announced an acquisition in which the bank was the lead lender, The Wall Street Journal reported.  The bank made a big profit from the trade, which helped push the volume in the beverage maker’s options to more than 13 times the average volume of the previous 30 days. Bank of America said that in addition to the call position, it also bought put options on 133,100 Constellation shares as part of a directionally neutral strategy. However, the bank’s loss from the…

JLN Options: ISE Files With SEC to Start Topaz as 12th U.S. Options Exchange Newsletter,Options

Lead Stories ISE Files With SEC to Start Topaz as 12th U.S. Options ExchangeNina Mehta, BloombergBusinessweekInternational Securities Exchange Holdings Inc. plans to start an options market called Topaz Exchange. If approved it will be the twelfth U.S. exchange for equity derivatives.http://jlne.ws/XFYzVO***Can we stop at 12? Because we can’t have 13 exchanges sitting down to dinner.  — SR NZX to launch equity derivatives marketJustin Lee, Risk.netNew Zealand Stock Exchange to launch equity derivatives to meet demand for hedging instrumentsThe New Zealand stock exchange (NZX) will launch an equity derivatives market in May, following consultation with market participants, says the exchange.http://jlne.ws/XFZ6aw As…

JLN Options: Options Week in Review Feb. 7, 2013 Newsletter,Options

A “major investor” bought about 100,000 puts on the Financial Select Sector SPDR on Tuesday, which led to an explosion in bearish trading. The puts expire in April and will increase if the fund goes below $16. The bearish bet was a mystery but some speculated that the unknown trader might believe investors are too assured ahead of the sequestration set to take effect March 1, when $1 trillion in spending will be cut from the U.S. budget, Barron’s reported. The wave of trading in SPDR was being reported as put spreads or put buying, but Barron’s pointed out that…

JLN Options: VIX Has Its Biggest Two-Day Fall – 35.4%; Record Futures Volume Newsletter,Options

Lead Stories VIX Has Its Biggest Two-Day Fall – 35.4%; Record Futures VolumeMatt Moran, VIX ViewsOver the past six trading days the VIX has had a roller-coaster ride as investor sentiment shifted in regard to perceived prospects for a near-term solution to the U.S. fiscal cliff situation.http://jlne.ws/ZX3ypq Vix Futures Set Another New Single-Day Volume Record Today: 221,323 ContractsPress ReleaseThe CBOE Futures Exchange, LLC (CFE®) announced today that CBOE Volatility Index® (VIX® index) futures set a new single-day volume record of 221,323 contracts (estimated), the second consecutive daily VIX futures record this week.Today’s daily record eclipsed the previous VIX futures single-day…

JLN Options: MIAX Receives Approval Order from the United States Securities and Exchange Commission to Become Newest Equity Options Exchange; Trading to Commence on December 7, 2012 Newsletter,Options

Lead Stories MIAX Receives Approval Order from the United States Securities and Exchange Commission to Become Newest Equity Options Exchange; Trading to Commence on December 7, 2012Press ReleaseMIAX Options Exchange (“MIAX”) announced today that on December 3, 2012, it received an Approval Order from the United States Securities and Exchange Commission (“SEC”) of its Application for Registration as a National Securities Exchange, and thus MIAX will act as its own self-regulatory organization. [Release No. 34-68341; File No.10-207.]  Trading on MIAX, a fully electronic options trading exchange, is scheduled to commence on December 7, 2012.http://jlne.ws/SKjbtw PowerShares Readies ‘Downside Hedged’ ETFTom Lydon,…

John Lothian Newsletter: CME To Introduce Futures That Deliver Swaps; LSE makes play for collateral management market; Fed warns high-frequency trading firms John Lothian Newsletter,Newsletter

CME Group announces new deliverable interest-rate swap futures contracts.  The London Stock Exchange plans to begin offering collateral management services from its Monte Titoli settlement house in Italy. The Chicago Fed warns that the majority of algo traders and trading venues are relying on “others” to handle exceptions and errors in order flow.

Five Minutes with Cliff Weber Financials,Interview

Cliff Weber

In May 2009, NYSE Liffe U.S. signed a license agreement with MSCI Barra to offer a broad suite of domestic and international index futures products built on a range of MSCI equity indices. It’s been a over a year since NYSE Liffe U.S. became the only listing venue for MSCI Index-based products. This week, which featured a record trading day of 75,876 contracts in its MSCI Emerging Market futures contract, the exchange expanded its suite of MSCI products with the launch of Mini MSCI Canada Index Futures (MCL), Mini MSCI World Index Futures (MWL), and Mini MSCI Emerging Markets Latin…

John Lothian Newsletter: Public Exchanges Duel With Newcomers Over Trade Transparency; Derivatives Rules Have Swaps Users Eyeing Shift To Futures; HKEx COO Sees Need For Closing Auction Revival John Lothian Newsletter,Newsletter

As exchanges seek volume to stay growing and profitable, both NYSE Euronext and Nasdaq are seeking to compete in the dark pool arena. In response to the regulatory push for more control over derivatives, many swaps participants are reviewing their business models with an eye to shifting to less onerous solutions like futures transactions. HKEx is considering the reinstatement of a stock price closing auction as a way to smooth price volatility.

Special Report: Chicago Financial Community Readies For NATO Special Report

NATO

On May 20-21 the NATO summit will take place in Chicago. Financial industry firms and exchanges have braced themselves for potential protests and traffic snarls, and even cyber attacks. While the vast majority of entities will conduct business as usual, off site work plans and contingency and disaster recovery maps have been put into place to ensure it’s business uninterrupted.