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How to be a Successful Trader – Jennifer Wilson Feature,MarketsWiki Education,MWEd,Mwiki,Video,video

“People who do well, they stick around. They invest more money and make the markets more efficient. People who don’t do well generally move on pretty quickly to other opportunities.” In this video from MarketsWiki Education’s World of Opportunity event in Chicago, Jennifer Wilson, partner at DRW, discusses what it takes to be a successful trader in today’s markets. When Wilson was starting out in the late ‘90s, the floor was a microcosm of pure commerce. Traders were doing what was best for their book which created a steady balance of supply and demand. In today’s electronic markets, things operate…

Chicago’s Newest Trading Floor Will Be Staffed by Humans; Standard Chartered eyes New York energy trading, bucks Wall Street trend: sources; Complex short Vix products draw fire as vol plumbs lows Newsletter,Options

Observations & Insight BOXing: Let the Bodies Hit the (Options) Floor Spencer Doar – JLN Golly, there’s been a ton of action in options markets lately. First, the surge of crypto news. Last week, MIAX’s investment in LedgerX received airtime as LedgerX was approved as a derivatives clearing organization (DCO), paving the way for bitcoin options. Then CBOE got into the fray with its announcement yesterday that it has partnered with Gemini, the cryptocurrency endeavor backed by the Winklevoss twins, to use its market data to create bitcoin futures. (I expressed my skepticism of the timeline laid out by CBOE…

BOXing: Let the Bodies Hit the (Options) Floor Feature,Options

Golly, there’s been a ton of action in options markets lately. First, the surge of crypto news. Last week, MIAX’s investment in LedgerX received airtime as LedgerX was approved as a derivatives clearing organization (DCO), paving the way for bitcoin options. Then CBOE got into the fray with its announcement yesterday that it has partnered with Gemini, the cryptocurrency endeavor backed by the Winklevoss twins, to use its market data to create bitcoin futures. (I expressed my skepticism of the timeline laid out by CBOE yesterday, as they mentioned a possible Q4 launch or early 2018. I am dubious of…

Chicago’s Newest Trading Floor Will Be Staffed by Humans; NYSE on Track to Lose More ETF Listings; Big asset managers struggle to meet Mifid II deadline John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff BOX gets SEC approval for a trading floor, the CBOE picks the Winklevoss twins for bitcoin futures and earnings news from ICE and LSEG is among today’s top headlines. ICE and LSEG came out with earnings today. Check it out in Exchange News. ~JJL I like context. Morgan Housel has a blog – An Honest Business News Update – with a lovely reminder humanity is more than the sum of what gets the publicity. ~SD We have added a Hello Bar to the bottom of the MarketsWiki Education website] and to the…

Steve Hamilton, CurveGlobal – Demystifying the Current Trading Environment Feature,MWEd,Video,video

Steve Hamilton, COO of CurveGlobal, doesn’t buy the over-the-top headlines about the state of trading. To him, the evolution of the market has been logical, and not as drastic as some would have you believe. The bottom line is that people still make trading decisions based upon risk taking and risk mitigation, and then discover price in order to execute their strategy. The change has been the venue where this occurs — a screen rather than a pit.    In this video from JLN’s MarketsWiki Education event in London, Hamilton runs through the shift from the pits to the screen,…

John Lothian Newsletter: SunGard Is Said to Be in Sale Talks With Fidelity National Information; China watchdog extends pursuit of short sellers to HK, Singapore; China targets high-frequency traders in ‘spoofing’ probe John Lothian Newsletter,Newsletter

First Read It’s a MAD MiFID II world now, and US firms should prepare By Erik Donelson, special contribution to John Lothian News Note: Erik has been working as a regulatory intern at John Lothian News since April 2015. On the last day of his internship, he attended an FIA event in Chicago – “What Every Market Participant Should Know about MiFID II.” Below are his thoughts and observations from the event. MiFID II enforcement is coming, and it’s going to affect all market participants, including those in the United States. As ESMA and the European Commission finalize the technical…

John Lothian Newsletter: Nasdaq Launches ‘NFX’ to Trade Energy Derivatives; Deutsche Boerse, CME final bidders for FX platform 360T; CFTC plans more scrutiny over algorithmic trading John Lothian Newsletter,Newsletter

First Read Scooped: What The Nikkei Deal Means For The Derivatives Industry Jim Kharouf – John Lothian News Nikkei got the scoop of the year. It purchased the Financial Times at the 11th hour from FT parent Pearson for £844 million ($1.3 billion). The big surprise was that Hong Kong Exchange and Clearing’s Charles Li, CEO and former journalist, didn’t buy it, a seeming bargain compared to the LME price tag of £1.39 billion. The media world will care much more about this deal than the rest of the globe. The journalist handwringing over Rupert Murdoch’s buyout of the Wall…

John Lothian Newsletter: Libor Reform Has Not Gone Far Enough, Says Regulator; China Targets Short Sellers in Stock-Index Futures Contracts; Banks team up to resolve OTC swaps margin disputes John Lothian Newsletter,Newsletter

First Read MarketsWiki Education World of Opportunity Summer Intern Education Series Don’t forget to sign up your interns, newer employees or anyone who would be interested in or find value in the series. We are in New York on July 15 at the NYSE and in Chicago on August 4, 5, & 7. Find details on our newly redesigned www.marketswikieducation.com website. ++++ Court throws out former Goldman programmer’s conviction Ben McLannahan in New York, FT A former Goldman Sachs programmer has had his conviction for stealing code tossed out for a second time — the latest twist in a long-running…

Dear CFTC: Give Us 90 Days Blog,Commentary,Tech / HFT

CFTC

Some representatives from the CME Group trading floor at the Chicago Board of Trade don’t believe they are being heard by exchange leaders or regulators. More importantly, they don’t believe the interests of their customers are being heard. To rectify that, they are asking the U.S. Commodity Futures Trading Commission to delay the closing of the pits and to conduct a 90-day public comment period for the rule change the CME Group seeks to allow closure of the futures trading pits. The issue they are concerned about is something called “user-defined spreads.” There are customers across various trading pits and…