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Tag Archives: regulation

Controversial US derivatives rules resurface; Options transparency problems Newsletter,Options

Observations & Insight Tuesday’s Miscellany Spencer Doar – JLN Via Jim Kharouf – Longtime options industry executive Kevin Murphy has written a new book, The Three Rooms, which focuses on helping increase awareness of your own thoughts and emotions. Can’t wait to read it. E*TRADE reported its July activity. DARTs were down 8 percent from June but up 20 percent from a year ago. Derivatives represented 34 percent of DARTs. A PowerPoint presentation from the CAT NMS, LLC Operating Committee covering recent Consolidated Audit Trail updates can be found here. Employee stock options are not normal fodder for this newsletter,…

Are We Reliving History? – Dave Weisberger, ViableMkts Feature,MWEd,Mwiki,Video,video

“The important thing to understand about crypto is it’s polymorphic… meaning that the same thing can be an investment,… it can be a commodity… or it can be a currency.” Did you know that when bitcoin was trading at its highs in December 2017, one could regularly purchase it for $1,000-$2,000 less than the “highs” being reported in the news? In this video from MarketsWiki Education’s World of Opportunity event in New York, Dave Weisberger, head of equities at ViableMkts, compares the current state of crypto trading infrastructure to previous market structure issues.   Produced by Mike Forrester

Market Structure: Why You Should Care – Kevin McPartland, Greenwich Associates Feature,MWEd,Mwiki,Video,video

“I’m not a particularly good investor. I don’t know if my own portfolio is set up the way it should be. But I can certainly explain to you exactly how an equity trade comes from a pension fund and makes its way all the way down through the market and settles and all the other pipes and plumbing that come with it.” In this video from MarketsWiki Education’s World of Opportunity event in New York, Kevin McPartland, managing director, market structure and technology with Greenwich Associates, takes a step back from the minutiae of markets to talk about the big…

Timely Capital Relief Comments From Fed Chair Powell or: The Options Market Stability Act Was On TV! Blog,Options

During Federal Reserve Chairman Jerome Powell’s testimony on Capitol Hill, Rep. Randy Hultgren asked Chairman Powell about targeted capital relief for bank-affiliated clearers of options liquidity providers. Recall that Rep. Hultgren authored legislation – the Options Market Stability Act – that just passed the House. That legislation seeks to provide relief for clearers by directing banking regulators “to consider a number of items including the availability of liquidity, the economic value of delta weighting and netting of positions, safety and soundness of financial institutions and overall financial stability. The legislation also requires the Federal Reserve to submit a report to…

The Spread – Week of 3/19 to 3/23 Commentary,Video,video

The JLN team is back in Chicago  to bring you a more conventional episode of The Spread. Thank heavens our teleprompter was back in action – ad libbing a poolside chat was wicked difficult. You are likely up to date on the potential Biden v. Trump title fight that was in the headlines this week, but are you up to date on the week’s happenings in options? The following are stories referenced in this week’s episode: Reuters – CFTC ‘astounded’ as Congress prepares to cut budget WSJ – SEC Urges Exchanges to End Standoff on Trading Data Bloomberg – Volcker…

Top Regulator Worries About Crypto Market Manipulation; CFTC ‘astounded’ as Congress prepares to cut budget John Lothian Newsletter,Newsletter

First Read Congressional CFTC Budget Decision Lacks Vision and Reason John Lothian – JLN A reasonable person could see that the U.S. Commodity Futures Trading Commission needs an increase in its budget to address the growing responsibility it has acquired over US markets in recent years and the dramatic development and investment in fintech and cryptomarkets. A reasonable person, Democrat or Republican, would vote for the modest increase the CFTC requested unless they suffer from a chronic case of market myopia. But alas, the budget passed by the U.S. House of Representatives cuts the CFTC’s funding by $1 million to…

Grasp Your Opportunities and Adapt – Tom Sexton Feature,MarketsWiki Education,MWEd,video

“Our markets here are the envy of the world because they are regulated in a very fair and orderly manner.” In this video from MarketsWiki Education’s World of Opportunity event in Chicago, Tom Sexton, president and CEO of the National Futures Association, discusses what opportunities lie in the regulatory arena. Sexton asks that when you look at all the different areas of finance, think about regulation and how important it is to not only the U.S. markets, but markets all around the world.

Trillions in Stock and Derivative Trades at Risk Over New EU Rules; LME chief plots evolution not revolution at metal exchange; Regulators’ Penalties Against Wall Street Are Down Sharply in 2017 John Lothian Newsletter,Newsletter

First Read Hits & Takes By John J. Lothian Gary Flagler has a new job. He is now Head of International Business Development, Derivatives consulting for Bolsa Mexicana de Valores, S.A.B. de C.V. (BMV), also known as Grupo BMV, a 122-year-old company and one of Mexico’s premier financial institutions, headquartered in Mexico City, Mexico. He will be working with Mexder and Asigna, Compensación y Liquidación F/30430 Fiso Bancomer SA, MexDer‘s local scale rating AAA–rated clearinghouse. Gary will give them the presence in the U.S. they greatly needed. ~JJL The latest Financial Data for FCMs from the CFTC is available. ~JJL…

The State of Today’s Markets: Issues and Opportunities – Larry Tabb Feature,MWEd,Video,video

“This industry is a meritocracy. If you can do a better job than the next guy, then you’ll get rewarded more than the next guy. That’s a good thing.” In this video from MarketsWiki Education’s World of Opportunity event in New York, Larry Tabb, founder and research chairman of the TABB Group, gives a comprehensive view of the state of markets today with an eye toward the future. Tabb covers everything from the dangers markets face when quantitative easing ends; the decrease in IPOs; the prospect of the regulatory pendulum swinging back to less regulation; and how difficult it will…