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Tag Archives: SEC

Post-Bitcoin Technology Has Geeks, Giants, and Hackers Excited; Acting SEC chair plans test to lower exchange fees; Cowen Group in talks to buy brokerage Convergex John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian John Lothian News has learned that OCC President and COO Mike McClain has resigned and left the organization. His last day was two days ago when the OCC held a goodbye event in Chicago. The official narrative is that he left for personal reasons, including the continued attention to his wife, who is battling illness. Other sources have cited the high turnover the OCC has seen in recent years and some of the pressures at the core of that for McClain’s departure. McClain had been with the OCC for 15 years…

US Options Volume Slips in February as Volatility Retreats Further ; ‘Crisis fatigue’ on show as hedging absent in face of stock shock; Suddenly, stock-market investors fear Trump will drop the fiscal-policy baton Newsletter,Options

Observations & Insight Getting The View From the Top By Jim Kharouf, JLN Today we begin our annual Exchange Leaders Series – video interviews shot at the FIA Boca 2017 conference last week. We unofficially led off with CME’s Terry Duffy before the conference (part 1 here and part 2 here). ICE Chairman and CEO Jeff Sprecher leads off our series with his thoughts about where the industry is going in terms of data and analytics. This is a company that has invested billions into the data and analytic space in the past few years, culminating with the $5.2 billion…

SEC Shortens Settlement Window for Stock, Bond Trades; Banks Trimming Compliance Staff as $321 Billion in Fines Abate; EU to formally veto Deutsche Boerse LSE merger shortly – sources John Lothian Newsletter,Newsletter

SEC

First Read Getting The View From the Top By Jim Kharouf, JLN Today we begin our annual Exchange Leaders Series — video interviews shot at the FIA Boca 2017 conference last week. We unofficially led off with CME’s Terry Duffy before the conference (part 1 here and part 2 here). ICE Chairman and CEO Jeff Sprecher leads off our series with his thoughts about where the industry is going in terms of data and analytics. This is a company that has invested billions into the data and analytic space in the past few years, culminating with the $5.2 billion purchase…

Mystery of Russian Crime Gang, ADM Brokers Solved in U.K. Court; SEC poised to shorten settlement cycle for securities trades; The Banker-Turned-Seminarian Trying to Save Citigroup’s Soul John Lothian Newsletter,Newsletter

First Read Boca Bits JLN Staff During the exchange leaders panel, panelists were asked what company and city would dominate swaps clearing in 5 years. During CME Group CEO Terry Duffy‘s response, he (again) raised the spectre of the CME Group moving out of Chicago by refusing to say where CME would be headquartered in a half decade. The consensus from the Washington Outlook panel was it will be extremely difficult for any reforms (read Dodd-Frank) to make it through Congress, so significant regulatory shifts will emerge from the agency level. Chris Giancarlo got a standing ovation at FIA Boca,…

My Picks for CFTC and SEC Commissioners Blog,Commentary,Mwiki,Politics,Regulation

Despite repeated inquiries to knowledgeable industry players, there is little buzz about prospective new CFTC and SEC Commissioners outside of the chairmen. So if there is no buzz, then let’s create some of our own in time for the FIA Boca Raton International Conference.  I am going to give you my top ten potential candidates for each commission in alphabetical order. That they are on the list does not mean they would be willing to serve, but it does mean I believe they are eminently qualified to serve. I am also going to share with you honorable mentions. These are others…

Cursed affair – How LSE and Deutsche Börse’s merger unravelled; Deutsche Bank to raise 8 billion euros, plans major reorganization; Wall Street Cops Reined In as SEC Braces for Trump Budget Cuts John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian Sorry to start with the sad, but former CME President & CEO Clayton Yeutter has passed away at the age of 86. Yeutter was CME CEO when I started my post-collegiate career and I was lucky enough to cover a speech he gave about the Farm Bill of 1984 and the impact that would have on commodity prices. In happier news, I turned 56 on Saturday and my neighbors threw a parade a couple of blocks from my home in Elmhurst that attracted thousands of people wearing my favorite color, green….

Credit Suisse Probe Opens Old Wounds; Trump Wants a Pro-Business SEC. That Has Some Investors Worried; Goldman warns Federal Reserve over commodity trading rules fallout John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian William “Bill” Hagerty, Jr., former Chairman of the Chicago Board of Trade and one of the industry’s great gentlemen, has passed away at the age of 87. Bill was the head of what was once the longest tenured member firm of the CBOT, Hagerty Grain, and was a customer of mine when I was a broker. From that relationship I had the opportunity to get to know Bill and came to respect him greatly. When I ran for the NFA Board of Directors back in the early 2000s as an Introducing…

Euro Hedging Costs Surge as Traders Respond to Political Risk; Understanding the Trump Rally; Taxes more than gains? Yes, if you don’t exit your options in time Newsletter,Options

Observations & Insight Take Our Survey – Again By Jim Kharouf, JLN Editor-in-Chief & CEO Sometimes these things happen. The link we provided yesterday only allowed one person to take the survey. We know there are more than one of you willing and able to take it. Here’s the link. Please take a few minutes to help us out about what you like and what you don’t like about our publications and websites. The questions are supposed to be fun, funny and for us, enlightening. It’s also a great place to leave us comments and suggestions for future content and…

NYSE Told Major Outage in 2015 May Have Broken Securities Rules; The Race to the Speed of Light Is Accelerating; Rolling Back the Fiduciary Rule – a Primer on Making (and Unmaking) a Regulation John Lothian Newsletter,Newsletter

First Read Solidifying an American foothold: LSEG’s UnaVista and MTS platforms look to expand Spencer Doar – JLN The London Stock Exchange Group has plenty of reasons to be in the news due to its pending merger with Deutsche Boerse, but while all of those discussions take place, parts of the LSEG family are making moves of their own. The two arms in motion are MTS, a bond trading platform, and UnaVista, a back and middle office platform for reconciliation, reporting, matching and validation. Both are in a similar situation — they have a large presence in Europe but not…