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Tag Archives: OIC

Thesys Technologies vs. Goliath; OIC Outreach to Advisers; Vol bets and the VIX Newsletter,Options

Observations & Insight Thesys vs. Goliath: That’s One Big CAT Spencer Doar – JLN FINRA, FIS, Cinnober, Thomson Reuters – what do they have in common? They are just a few of the 30 bidders who lost out on developing the Consolidated Audit Trail (CAT) to Thesys Technologies LLC, a subsidiary of the proprietary trading firm Tradeworx, founded in 2009. To develop and implement the CAT, Thesys partnered with IBM (which was a bidder on its own, too), as well Rosenblatt Securities and law firm Latham & Watkins. “You had some big tech companies that really understand tech but maybe…

Big FX bets bunched around Jackson Hole meeting; Options trader gets 1.5 years in prison; VIX Options Volume Record Newsletter,Options

Observations & Insight No, Not the VIX – the VSTOXX Sarah Rudolph – JLN Even your dog has heard of the VIX, the Chicago Board Options Exchange‘s benchmark volatility index, but the VSTOXX, the benchmark for volatility in European stocks, is less of a household name in the U.S. Eurex has been trying to change that by adding more and more functionality to their VSTOXX products, starting out with spot prices and futures contracts on the index and then more recently moving into options on futures and ETNs. Yesterday, Eurex and Rival teamed up for a meetup in Chicago at…

2017 Sullivan Award Winner Gina McFadden Looks Back at a Long and Lively Career Exchanges, OTC & Clearing,Interview,Mwiki,Video,video

At this year’s Options Industry Conference in Scottsdale, Arizona, Gina McFadden received the 2017 Joseph W. Sullivan Options Industry Achievement Award, the first woman to do so since the award began in May 2002. McFadden, the former president of the OIC, joined the company about a year after it first got off the ground, so she was involved with its early growth, developing the organization’s first advertising campaign. “It was marketing and education, and it was for a great reason. But it was work to get it off the ground,” she said. The options exchanges were of course competitors, but…

The Yin and Yang of Options Markets Options,Video,video

Henry Schwartz, president of Trade Alert, thinks the options industry is doing well given current market conditions, but is quick to acknowledge its much publicized struggles. In this video from the Options Industry Conference in Scottsdale, Ariz., Schwartz talks about the interrelated forces at work in options markets today and how they are both hurting and helping the industry. For more on Schwartz’ take on the industry, see Not as Bad as it Seems: Schwartz Addresses the State of the Options Industry.

All Together Now: Exchange Leaders Call For Cooperative Approach To Changing Market Structure Blog,Commentary,Feature,Options

U.S. equity options leaders said today’s market structure needs fixing and vowed to work together to address it at the Options Industry Conference in Scottsdale, Arizona. Among some of the structural problems are a perceived lack of liquidity, a rigid regulatory structure that has supported the fragmentation of markets, and a concentration of volume on a relatively small number of listings. Kevin Kennedy, who serves as senior vice president, head of U.S. options at Nasdaq, called for the exchanges and participants to work together to upgrade the market structure so it works better and more efficiently in the coming years….

Not as Bad as it Seems: Schwartz Addresses the State of the Options Industry Blog,Commentary,Feature,Options

Henry Schwartz, president of Trade Alert, gave his annual “State of the Options Industry” address at the Options Industry Conference in Scottsdale, Arizona, and painted a more optimistic picture than recent portrayals in the press.   Yes, options volumes for 2017 are predicted to be flat to slightly up, a bit more than 4 billion contracts, but to Schwartz, that is a good number given the lack of volatility. Another positive is that more institutional users are appearing in the options market. According to his calculations based on regulatory filings, some 100 institutions enter options markets annually while 85-90 drop…

There’s one big trading company that’s loving all this uncertainty (CBOE); Buying Into the Turmoil: Investors Embrace the Risks; The VIX Is Broken, But Does It Matter? Newsletter,Options

Observations & Insight Options Industry Conference Update: Congress Continues To Push For Avoiding Unintended Consequences in Tax and Dodd-Frank reforms By Jim Kharouf and Jeff Bergstrom, JLN The 35th Annual Options Industry Conference kicked off on Wednesday with a major focus on Washington, especially on a host of new proposals on tax and Dodd-Frank reforms. The conference, hosted by Intercontinental Exchange’s NYSE in Scottsdale, Arizona, led with an interview with Congressman Tom Reed (R-NY 23rd District) who outlined initiatives to address tax reform in 2017. Reed told OCC’s Executive Chairman and CEO Craig Donohue that the tax reform may have…

OCC to require members to test default process; Soymeal leads China charge into commodities derivatives; Trouble at Tradebook? Newsletter,Options

Observations & Insight JLN Exchange Leader Series 2017: LSEG’s Hackett on a Clear Path Forward JohnLothianNews.com In just a few years, London Stock Exchange Group has doubled its U.S. headcount to nearly 500 employees. That’s just one indicator that this division of that LSEG is doing well across a variety of its operations. Ali Hackett, USA Country Head for London Stock Exchange Group, spoke to JLN about the importance of the customer in continuing LCH’s expansion. Since the financial crisis, regulators have adopted rules that have pushed clearing and trading onto exchanges. But there is still a demand from clientele…

Freakish Peace Envelops Bull Market as Eighth Year Rolls By; While Donald Trump may have stocks up, some hedge funds managers are bracing for a selloff; Fed Takes Fear Out of Markets as Volatility Plunges in Bonds, FX Newsletter,Options

Observations & Insight Long-Time Options Industry Leader Gina McFadden is First Woman to Receive 2017 Sullivan Award OCC OCC, The Options Industry Council (OIC) today announced that Gina McFadden, a long-time leader in the U.S. listed equity options industry, will be the first woman to receive the 2017 Joseph W. Sullivan Options Industry Achievement Award. This award is given to individuals in recognition of outstanding contributions to the U.S. options industry. The award will be presented at the 35th Annual Options Industry Conference on May 12 in Scottsdale, Arizona. jlne.ws/2mYvRoO ****SD: Congratulations! She is also our MarketsWiki Page of the…