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Tag Archives: Quants

Clearinghouses Push Back Against Worries Over Their Size; Two Sigma rapidly rises to top of quant hedge fund world John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff Bad news for Deutsche Boerse as the judge in the insider trading case against Carsten Kengeter declined to approve a settlement that was submitted by prosecutors. As reported by the FT, the case is crippling Deutsche Boerse at this time. It’s pretty hard to execute a strategy if you don’t know whether the CEO will remain. Nonetheless, Eurex has been posting some strong numbers in its interest rates complex this year. Brexit could open up more clearing opportunities for the exchange. Potential moves in other regions, say Asia, could open up some…

SEC’s Jay Clayton & China, Tom Ascher Speaks, Nasdaq and SIX Swiss Exchange Go Blockchain John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff John Hague of RSM has accepted the role of co-chairman of the LaSalle Trading Tech Awards of the Pathway to Adventure Council of the Boy Scouts of America. John Lothian is the other co-chair of the event. Hague replaces Matt Haraburda of XR Trading, who teamed with John Lothian last year to chair the event. The LaSalle Trading Tech Awards honor those firms who have participated in the Trading Tech 300 merit badge workshop program created by John Lothian and replaces the history LaSalle Street Dinner that had run for over 20…

Ex-Trader Linked to Deutsche Bank Is Aiding U.S. Spoof Probe; The Bloody Fight for ETF Scraps Is About to Get Even Worse; Quant Manager of $6 Billion Backs Stocks Hidden From Front Pages John Lothian Newsletter,Newsletter

First Read Newest Criminal Spoofing Case Features Coordinated Spoofing and Front Running Renato Mariotti, Thompson Coburn LLP On last Thursday, June 1st, the Justice Department entered into a plea agreement with a trader named David Liew, publicly revealing the existence of the third-ever criminal spoofing case, which had been filed under seal on January 3rd. In the plea agreement, Liew admitted that from December 2009 to February 2012 he conspired with other precious metal traders to engage in spoofing on hundreds of occasions and to commit fraud by misleading other market participants via his spoof trades. Liew’s former bank is…

The Cost of an Investment Conscience; Soc Gen clearing head joins Euronext as chief tech officer; T3 Securities, Inc. Partners with Matador Trading to Provide Mobile Technology that Offers Commission Free Trading with Social Networking John Lothian Newsletter,Newsletter

First Read Osaka Exchange of Japan Exchange Group Joins John Lothian News Sponsors; First Asian Exchange Sponsor of John Lothian News John Lothian News is pleased to announce that the Osaka Exchange has agreed to become a Contributor Level sponsor of John Lothian News. Osaka Exchange (OSE) is the derivatives arm of the Japan Exchange Group (JPX) and widely known as the mother market of Nikkei 225 Futures and Options. OSE renewed its trading platform in July 2016 and trading is now available nearly 24 hours a day in its markets, which are some of the most liquid in the…

The Quants Run Wall Street Now; Deutsche Boerse CEO seeks end to insider trading probe; Toyota, Merck Join Ethereum Group to Build Blockchain Network John Lothian Newsletter,Newsletter

First Read It’s all in the follow through Jim Kharouf, JLN This week, we are continuing our rollout of video interviews from the Options Industry Conference. Today we feature Gina McFadden, the first woman to receive the esteemed Joseph W. Sullivan Options Industry Achievement Award for her decades of education work at the Options Industry Council. We’ve also posted engaging interviews with industry leaders, Steve Crutchfield, head of market structure with CTC in Liquidity Providers Unduly Penalized By Capital Rules: CTC’s Crutchfield and got a state of the options industry review from Henry Schwartz, president of Trade Alert, The Yin…

Finding Money in the Margins; Carney Dials Guidance Way Down as BOE Sees Future Wide Open; Quant Wars Seen Whipping Up Stock Volatility as Election Nears John Lothian Newsletter,Newsletter

First Read In Honor of a Historic Victory JLN Staff The Chicago Cubs victory in the World Series over Cleveland was the beginning of a historic celebration. Since the Cubs nail-biting Game 7 victory came in Cleveland, Chicago Cubs fans have not had the opportunity to celebrate with the newly crowned champs. Today, there will be a huge parade starting at the Friendly Confines and winding its way to Grant Park. The crowd is likely to be mind boggling. City officials have not even released the full route, rather referring people to soak in the scene at three locations: Addison…

Guest Commentary: Quantitative Brokers’ Robert Almgren Commentary,Tech / HFT

Robert Almgren

Guest Commentary from Quantitative Brokers’ Robert Almgren Responding to Chicago Fed’s John McPartland’s White Paper: I would like to thank John McPartland for proposing what I think of as a “full employment act for quants.” As a quantitative analyst myself, I think that his proposals would provide an extremely rich set of opportunities for sophisticated traders to leverage their analytical capabilities to understand, better than other market participants, what is really happening in the market and how to profit from it. But as a market participant, I think that these proposals would complicate a trade match process whose main goals…