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Tag Archives: proprietary trading

‘Tyrannical Coup’ at Quantlab; Northern Trust Looks at Crypto Custody Business John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Thank you to the Stuart School of Business at Illinois Tech for hosting the first two sessions of the MarketsWiki Education World of Opportunity series in Chicago this week. The series is off today, but on again Thursday in the offices of Trading Technologies.~JJL Thank you to our speakers for the first two days. We had some great presentations and stories shared.~JJL The American Financial Exchange (AFX) posted a record trading day of $1.043 billion notional across all interest rate products on July 30. Last week was also a record week, with $4.66…

New Cboe VIX case; Market maker tech spend; Virtu in Japan Newsletter,Options

Observations & Insight 10 Years of PHLX @ Nasdaq Spencer Doar – JLN The oldest stock exchange in the United States hit another milestone – the Philadelphia Stock Exchange (PHLX) celebrated its 10-year anniversary as a part of the Nasdaq family on July 24. While the ’07-’08 timeframe is best remembered in financial circles as the time of “bailout this” and “subprime that,” it was a transformational period for non-crisis reasons at Nasdaq. Nasdaq purchased PHLX – founded in 1790 as a venue for bond trading – for $652 million in 2008. At the time PHLX was the third largest…

Jump Moving to Amsterdam; Trade Deadline Bets; Arbitrage Is No Fun Newsletter,Options

Observations & Insight Miscellany for Wednesday SD John is at the Crypto Evolved conference in New York currently. According to social media coverage of the event, Coinbase is building a low latency matching engine in Chicago. In case you missed it, Jim Kharouf had a great piece about Coinbase last week. In a stunner, Germany lost to South Korea in the World Cup this morning and was eliminated from the competition. It is the first time in living memory the winner of the previous tourney has been eliminated in the first round of play. Apparently that flies in the face…

Spot Trading Closes; EU Fintech Regulatory Roadmap; EU probes UK derivatives tax treatment John Lothian Newsletter,Newsletter

First Read Renato Mariotti for Illinois Attorney General; A Former Prosecutor and Current JLN Reader Is The Best Choice For Illinois AG John Lothian – JLN Democratic Attorney General candidate Renato Mariotti stopped by the John Lothian News offices in the Chicago Board of Trade Building on Tuesday, March 6 for a sit down video interview. He has been a John Lothian Newsletter reader since 2012, and he used the market and industry knowledge he gained from reading the newsletter to bolster his success as a federal prosecutor. Mariotti is a former prosecutor in the US Attorney’s office in Illinois…

Top Options Stories of 2017 Countdown Feature,Video,video

Correction: SROs did NOT begin reporting to the Consolidated Audit Trail in November – the deadline for implementation was indeed delayed.  For a CAT update, see our January 2018 video with Thesys CAT Chief Compliance Officer Shane Swanson.  Listicles are occasionally the butt of jokes – Buzzfeed knows – but what about listideos? With 2017 in the bag, we at JLN thought we’d recap the year in options with a list of the big stories and trends – and there were a number. Below are links to stories referenced in the countdown. When a theme is addressed, the linked story…

Oil Signals to Watch in 2018; 2018, the year of the active fund manager?; Chicago firms gear up for MiFID Newsletter,Options

Observations & Insight Editor’s Note There will not be an edition of JLN Options tomorrow – we will be back January 2, 2018. So, this marks our last email (on a pretty thin options news day) of an extremely eventful year, yet one historically devoid of volatility. Here’s to 2018! Maybe the VIX will hit 30, the short vol trade will get busted up, market makers will proliferate, fees will decrease, capital rules will make sense, roses will smell better and a whole bunch of other stuff. See you then. Lead Stories Five Oil Signals to Watch in 2018 Alex…

Chicago firms gear up for MiFID II; EU exchanges clash with customers over fees; South Korea Considers Closing Bitcoin Exchanges John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff This is the second to last edition of the John Lothian Newsletter for 2017. Tomorrow we will publish JLN, but not JLN Options or JLN Asia Pacific News.~JJL Eurex‘s trading calendar for the new year can be found HERE.~JJL There were a couple of commodity related explosions this week. First, a Libyan crude oil pipeline was blown up by suspected terrorists, helping move prices. It is believed it will take a week to get the pipeline back online. Then there was an explosion at an Argentinian grain terminal owned by COFCO that killed…

Volatility Is Low But Ambiguity Is Sky High; Clearing forex options; War on Dutch prop shops Newsletter,Options

Observations & Insight (Click for larger image) Lead Stories Volatility Is Low But Ambiguity Is Sky High Ben Eisen – WSJ Two academics are rolling out a new measure of market fear that suggests investors aren’t nearly as complacent as they seem. The gauge of so-called ambiguity, meant to chronicle the degree of uncertainty investors have in the probabilities they use to make decisions, has been at all-time highs in recent months, indicating that there’s more fear built into the stock market than common measures of volatility suggest. The Cboe Volatility Index, a popular metric for tracking fear in the…

Bond wolves; Hedging for the shale boom; Jump Trading shakeup; More BTC Newsletter,Options

Observations & Insight Jim Kharouf Resigns as CEO of John J. Lothian & Company, Inc.; Will Continue Work with Company in Freelance Role Jim Kharouf is stepping down as CEO of John J. Lothian & Company, Inc. at the end of the year after having assumed the role on January 1, 2017. Kharouf is leaving the company as an employee, but will continue to work with John Lothian News and John Lothian Productions as an independent contributor. He will also be exploring his own bespoke initiatives, including in the Fintech sector. Despite accomplishing much during his tenure at the company…