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Tag Archives: SEC

The 30 minutes that have an outsized role in US stock trading John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Two noteworthy items about the two firms bidding for Fidessa. ION and rival bidder SS&C Technologies both claim the Carlyle Group or affiliates as investors. Both companies have grown dramatically via acquisition. SS&C has made dozens of deals – the latest a $5.4 billion purchase of DST Systems. Privately-held ION has made nine acquisitions since 2008 and has a bid of $2.09 billion for Fidessa.~JK CBOE Chairman & CEO Ed Tilly and President Chris Concannon sent a customer letter about VIX pricing and recent erroneous claims in academic paper.~JJL Category: So I got…

A Former Top Wall Street Regulator Turns to the Blockchain John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff JLN Readers interested in the Crypto Evolved event in New York on June 27 from Viable Markets may receive a 10% discount when they register using THIS LINK  before April 30th. Limit of 50 tickets at that price.~JJL The SEC tracks the number of cyber actions it has taken since 2012. To date, it has opened 15 digital currency/ICO cases, 13 trading suspension cases, 4 hacking/insider trading cases, 4 market manipulation cases, 3 account intrusion cases and 2 customer information safeguard cases.~JK Business Insider reported “Being outside can improve memory, fight depression, and…

New SEC broker-dealer rule proposal; Challengers to Libor; VIX-rigging? John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Cboe Global Markets announced the settlement of its April expiry bitcoin futures, the fourth contract settlement conducted since the product’s launch on December 10, 2017. The settlement price was $8,055.68.~SR Quote of the day: “I quite understand at the end of the day everybody evolves and changes. China was a developing market that has developed in part because they needed to — they had an economy based on export at all costs…when you have to grow at 10 percent because you have to accommodate a population moving from villages to cities — and…

LSE Hires Goldman’s Schwimmer as CEO, Ending Long Search John Lothian Newsletter,Newsletter

LSE London Stock Exchange

First Read Hits & Takes JLN Staff The London Stock Exchange Group has appointed the American Goldman Sachs banker David Schwimmer as chief executive officer.~JJL The World Federation of Exchanges’ IOMA Conference 2018 in Chicago is the organization’s 35th such event, with exchanges, clearinghouses and market participants from around the world attending. OCC is the event host. Yesterday’s sessions included a panel hosted by JLN’s Jim Kharouf on Brexit, which featured Judith Hardt, from the Swiss Finance Council, Stephen Fischer from Blackrock and Erik Müller of Eurex Clearing. Erik seemed the most happy about Brexit. Judith was neutral.~JK OCC CEO…

How a volatility virus infected Wall Street John Lothian Newsletter,Newsletter

virus

First Read Hits & Takes JLN Staff At yesterday’s IFM Smart Financial Regulation Roundtable: Implications of Cryptocurrencies in Washington DC, Rostin Behnam, commissioner, Commodity Futures Trading Commission, was asked if he could change one thing about the crypto markets what would it be? He said it would be regulation of the cash crypto markets, although not necessarily by the CFTC.~JK Also, Angela Walch, associate professor, St. Mary’s University School of Law made one of the more stunning comments about the crypto markets, which she said feature several powerful so-called miners, dispelling the notion that these markets are decentralized and uncontrolled…

Widespread Fraud in ICOs and Penny Stocks Shocked SEC’s Jay Clayton John Lothian Newsletter,Newsletter

fraud

First Read Hits & Takes JLN Staff Thank you to all who donated to the Gofundme campaigns mentioned in the newsletter yesterday. I could not be more proud of you all for your outpouring of support and generous response. The goal for Anthony Di Benedetto has nearly been reached and the goal for the Burns family has been exceeded even more.~JJL As heart-pulling as the stories in JLN were, yesterday was a somber day for me as I attended a wake for a childhood friend who made the ultimate decision. His brother asked all of us in attendance to reach…

Wall Street Is About to Answer the Good/Bad Volatility Question John Lothian Newsletter,Newsletter

good bad

First Read Hits & Takes JLN Staff Readers, we have an industry colleague, Tony DiBenedetto, who needs our help. Tony is a 35-year industry veteran who spent his entire career at NYMEX. After leaving the NYMEX six years ago he has had trouble finding full-time work. His wife is battling cancer and he is facing foreclosure on their home. A Go-Fund-Me effort has been started to raise $25,000 to help him. So far $18,980 has been raised. Please consider helping Tony. Click HERE to go to his Go-Fund-Me page.~JJL Additionally, a Go-Fund-Me page has been created for the family of…

Deutsche Bank ousts John Cryan and names Christian Sewing as chief John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff JLN Contributing Global Markets Editor Jim Kharouf will be in Washington, DC representing us at the IFM “Smart Financial Regulation Roundtable: Implications of Cryptocurrencies” event on April 11. Later in the week, Kharouf and other members of the JLN team will be at the “IOMA – The WFE’s Clearing & Derivatives Conference” in Chicago.~JJL The CME Group’s market cap on Friday was $53.8 billion. NEX Group’s was $3.7 billion. ICE came in at $41 billion.~JK Don’t forget you have a week (well, eight days) to get in your taxes, which are due April…

Regulatory Crypto Crackdown; CME grain pushback John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Intercontinental Exchange Group’s market cap was $42.2 billion yesterday. Last August, it was $38.8 billion. In 2005, after its IPO, it was $2 billion.~JK Yesterday marked the 228th birthday of the Philadelphia Stock Exchange (PHLX). The following comes from Daniel Carrigan, president of Nasdaq Futures, Inc.: “PHLX was formed to support a fledgling U.S. government which borrowed $77 million from citizens to wage freedom from Britain. The first private debt offering was listed for trading in 1795 for The Penn and Lancaster Turnpike. The certificate contained the first picture imprint on a certificate…