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Tag Archives: Paul Volcker

FlexTrade unveils augmented reality trading technology; M&A playbook – how to get the EU to approve a takeover; U.K.’s Theresa May Calls Early Election, Seeking Brexit Leverage John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian Tomorrow I participate in a panel discussion at the Chicago Federal Reserve in a program put on by the Chicago Civic Federation. I will be talking about the history of this industry and its impact on jobs. I will also be sharing some of my thoughts on the importance of STEM for Chicago financial markets and the rest of the economy. I believe I have the right audience to share some of my ideas for making Chicago the STEM capital of the world. The title of the program is the uplifting…

Your Guide to the Volcker Rule Blog,Regulation

Paul Volcker

After a three year wait (over a year beyond the deadline mandated by the Dodd-Frank Act), a consortium of U.S. regulators released the final Volcker Rule.  Under the rule, banks will be prohibited from engaging in proprietary trading and from owning more than a three percent stake in hedge funds and other private funds. The rule does allow banks to engage in underwriting of securities, market-making for their customers and hedging for “risk mitigation.” A good chunk of the 881 pages and 2833 footnotes is devoted to spelling out the specifics of these exemptions. The rule becomes effective April 1,…

John Lothian Newsletter: Bats IPO Makes Exchange Built by Wall Street Public; CFTC rule sounds death knell for FIA-Isda trilateral give-ups; Volcker Says U.S. Needs Reforms in Finance, Government John Lothian Newsletter,Newsletter

BATS exchange issues its IPO today. Recent CFTC rules prevent dealers and clients from using a standardized clearing model proposed by the FIA and ISDA. Paul Volcker, in a speech yesterday, reiterated calls to reform financial and governmental systems. It was a sleepy news day, but the top box today is bursting with fresh content: commentary by Sarah Rudolph of JLN Options exploring the value of CBOE’s new VIX of VIX; a MarketsWiki.TV interview with Tom Callahan of NYSE Liffe US; an interview from HFT Review with Leo Melamed; and a sharp analysis of Dodd-Frank by Merton-Sholes via OpenMarkets.

John Lothian Newsletter: Deal Size Becoming A Bigger Deal In Investment-Grade Bond Issues; Canada Examines How Benchmark Rates Get Set; Foreign outcry over ‘Volcker rule’ plans John Lothian Newsletter,Newsletter

Corporate bond investors find themselves managing liquidity issues as bank trading partners shed their holdings in advance of tighter regulations. Canada joins in the LIBOR price-fixing hunt. The US hears strident objections from overseas regarding the impending Volcker Rule, along with strident objections and support inside the country as well. Paul Volcker tells offshore worriers, “Seriously, dudes, chill,” using a somewhat more complete vocabulary.

John Lothian News Top Stories of 2011 Blog,Environmental/Energy,Financials,Managed Futures,Metals,Options,Regulation,Tech / HFT

John Lothian

We’ve created a list of the five most influential stories of 2011 for each of our newsletters, as well as from MarketsReformWiki, to help define what was a very eventful year across almost every market and industry sector. The year was punctuated by one major story inside another. The bankruptcy of MF Global, which requires its own top five list, became tied to another top story, the European sovereign debt crisis sequel – Greece and Italy. Of course, the downgrade of U.S. debt in August and assorted European states raised the ire of politicians and regulators who called for more…