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SEC Approves Chicago Stock Exchange’s ‘Speed Bump’ for Trading; Trading Firms Fear Mutiny on MiFID Passport Data John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN ICE has made the inaugural Fortune Future 50 list, their ranking of companies best positioned for breakout growth.~JJL The FIA Expo panel on the geography of fintech was a draw regarding which city is best – London, Frankfurt/Berlin, Chicago, Boston or New York. But noted places of envy were the fintech sandboxes in Ontario and London.~JK Quote of the day comes from Kyle Zasky, partner at the investment bank SennaHill Partners, who said large banking institutions are at risk of being disrupted by fintech start-ups if they do not embrace and invest in…

LSE CEO to step down by end of 2018; SEC Names J.P. Morgan Executive as Top Regulator of Exchanges John Lothian Newsletter,Newsletter

First Read Derivatives Industry Joins Forces to Launch Futuresfundamentals.org Education Resource CME Group Today at FIA Expo, the largest gathering of futures market participants in the world, futuresfundamentals.org was launched to provide information and curriculum for learners of all levels to understand the role that derivatives markets play in the global economy and our everyday lives. /goo.gl/SAjgAm ***** This is big news for the industry and holds great potential to help it tell its story to new potential customers and professionals. It could be a great growth driver for the years to come if done well.~JJL ++++ Hits & Takes…

SEC to give MiFID reprieve; Big exchanges ask SEC to hold off on fee cap plan; Capital rules and clearing risks John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff FIA EXPO is opening in Chicago today after some opening parties last night. We look forward to a great week of conducting interviews in the Cinnober booth on the EXPO exhibit hall, attending the sessions and seeing too many readers and industry friends to be counted. Feel free to stop us and say hello if you see any of the JLN team.~JJL One year ago the Dow sat at 18,086. Yesterday, the index touched the 23,000 mark for the first time. Give it another 13,000 points and Kevin Hassett and James Glassman…

CBOE Holdings Becomes Cboe Global Markets; Clearing Stress Tests; SGX Chicago Office John Lothian Newsletter,Newsletter

First Read Hits & Takes Welcome to Deep Dive, our new show that features in depth conversations with key professionals in the industry. Our first two shows include key professionals from Trading Technologies. Today, Brian Mehta, chief marketing officer, is joined by Doug Moneison, partner in Hyde Park Angels, along with Jim Kharouf, who hosts the show. The first episode delves into the topic of where the industry is going to get the next generation of talent, what we have to offer and the rise of new firms that aim to attract new traders. You can watch the show in…

Push for MiFID II Delay; Libor settlement; Bond volatility Newsletter,Options

Observations & Insight The Kooky News for Friday the 13th Spencer Doar – JLN Befitting the day, there are indeed some weird happenings in our markets. First, recall the release in Observations yesterday – TradingScreen Majority Shareholders Initiate Criminal Legal Action Against Giampiero Grandi, Board Chairman, For Misappropriation Of Corporate Assets. TradingScreen responded to that release with a statement, saying the allegations made were: “false, baseless, and meritless, and has been propagated by the company’s disgruntled former CEO [Philippe Buhannic], who was fired by the Board for cause last year after intentionally hitting an employee in front of numerous witnesses…

“Unwarranted” G-SIB reqs; Scared of the CAT; Vol comeback welcome Newsletter,Options

Observations & Insight   Bitcoin rockets above $5,000 to all-time high Jemima Kelly – Reuters Bitcoin smashed through the $5,000 barrier for the first time on Thursday, jumping as much as 8 percent on the day as investors shrugged off the latest warnings on the risks of buying into the booming cryptocurrency market. jlne.ws/2yjA2jC ****SD: There will be plenty of crypto talk at FIA Expo next week, especially as exchanges progress with their nascent endeavors to launch crypto products. However, I still am not certain what percentage of people who talk about digital currencies/blockchain actually know what the heck makes…

CAT to boost cybersecurity threat?; FX markets stuck in low-volatility; Light trading volume in banks’ results Newsletter,Options

Lead Stories Audit Trail Could Boost Cybersecurity Threat, Exchanges Say Benjamin Bain – Bloomberg CBOE’s Concannon sees little benefit gained for greater risk; SEC facing calls to delay CAT until security can be ensured Stock exchanges could become more exposed to cyberattacks through a trade database being built to help U.S. regulators police markets, industry executives said Tuesday. jlne.ws/2ygTyNx ****SD: Not to be lost in this ongoing discussion: SROs helped write the requirements for the CAT. FX Markets Are Stuck in Low-Volatility Quicksand With No Escape Dani Burger – Bloomberg Currency markets are trapped by low volatility and only a…

Record low VIX close; CAT delay?; Swaptions clearing Newsletter,Options

Lead Stories VIX Closes at Another Record Low Gunjan Banerji – WSJ The CBOE Volatility Index, or VIX, hit a record low on Thursday, extending an historic calm streak as stocks reached new highs. The stock volatility index fell to 9.19, closing below 10 for the seventh consecutive day. The VIX’s prior low was 9.31 in December 1993. jlne.ws/2fUBvGn ****SD: CBOE started offering the 8.5 strike on the VIX on Tuesday. Woof. CNBC on the VIX action here. Trading Database Could Be Delayed Due to Data-Security Hitches Dave Michaels – WSJ U.S. exchanges overseeing the creation of a vast database…

Moves to seize HFT code “dead”; Complex Math Could Make Blockchain Work for Wall Street; SEC’s CAT John Lothian Newsletter,Newsletter

First Read Hits & Takes Over the last quarter Eris Exchange hit an all-time high of 200,000 contracts ($20bn) of open interest (OI) in their IRS swap futures contracts cleared by CME Group.~JJL On November 3, 2017, Chicago-Kent College of Law will host the 9th Annual Conference on Futures and Derivatives. This is a full day program covering important topics for compliance officers, in house counsel, regulators, accountants and attorneys who work within the Futures industry. Register HERE.~JJL Rosenblatt Securities in their Trading Talk Market Structure Analysis reported year-to-date equities average daily volume is down 11.57 percent y/y and off…