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Wall Street banks push back on launch of bitcoin futures; Traders Want to Know What Exchanges Earn From Market Data; Blockchain Scores Major Win as Aussie Exchange Plans Shift John Lothian Newsletter,Newsletter

First Read Hits & Takes Wedbush’s margin policy for bitcoin trading found its way to my inbox. In order to trade the Cboe bitcoin futures, a trader must have a minimum equity of $10K in their account. For accounts under $1 million in total equity, the margins are two times the exchange minimums. For the CME’s bitcoin futures, the account size is $50K minimum and if less than $5 million, you get double exchange margins. ~JJL STA Chicago’s marketing material for the 92nd Annual Mid-Winter Meeting – held Jan 10 through 12 – is Game of Thrones themed. *tips cap*…

LSE’s Rolet quits; Regulators look to shine more light on Treasury market; City closes ranks over Rolet John Lothian Newsletter,Newsletter

First Read Jim Kharouf Resigns as CEO of John J. Lothian & Company, Inc.; Will Continue Work with Company in Freelance Role Jim Kharouf is stepping down as CEO of John J. Lothian & Company, Inc. at the end of the year after having assumed the role on January 1, 2017. Kharouf is leaving the company as an employee, but will continue to work with John Lothian News and John Lothian Productions as an independent contributor. He will also be exploring his own bespoke initiatives, including in the Fintech sector. Despite accomplishing much during his tenure at the company and…

Bitcoin issues; No CAT Delay; Goldman ready for vol Newsletter,Options

Observations & Insight The Bitcoin Exchange That CME Plans to Use for Futures Is Down Camila Russo – Bloomberg This is exactly what the bitcoin futures naysayers have been warning about: One of the exchanges which CME Group Inc. would use to price the contracts is having serious issues. jlne.ws/2AIefQY ****SD: Not good. But this is partially why CME gathers pricing data from multiple other trading platforms – GDAX, itBit and Bitstamp. Here’s the methodology for CME’s CF Bitcoin Reference Rate (BRR) and CME CF Bitcoin Real Time Index (BRTI). To understand how a “down exchange” dynamic can play out,…

Deutsche Boerse Said to Favor UniCredit’s Weimer for CEO; Junk Bond Sell-off; Virtu’s Viola warns of clearing house risk John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff ICE announced a number of management team promotions today, including: Charles A. Vice has been named vice chairman, with continued responsibility for ICE’s global technology, information security and operations. He was previously president and chief operating officer, and has been with ICE and its predecessor company for more than 23 years. Press release here.~SR Click here for yesterday’s JLN Options newsletter.~SD See the latest thought leadership piece from Steve Grob of Fidessa, titled “Loophole lunacy” HERE.~JJL Asia Pacific Financial News from John Lothian News – November 14, 2017~JJL It appears there has…

Spot Trading cuts headcount; Wall Street Fines Fall in Trump’s First Year; J.P. Morgan’s Mobile Payments Struggle John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff Exchange Analytics has released a new Market Conduct Training Course.~JJL The World Gold Council reports that gold-backed ETF holdings increased by 3.3 in October to 2,347.6 tonnes. Europe led inflows, as investors added 11.2t of gold through funds; North America had outflows of 8t, reversing some September gains; funds in Asia gained 0.8t, but ETFs in other regions lost -0.7t in October. This is amid a year-on-year 9% drop in general demand for gold to 915 tonnes.~SR The CME’s Blu Putnam and Erik Norland have another piece out comparing the characteristics of…

Potential CAT Delay; Whistleblowers Blow Whistle on SEC Watchdog; EU ICO Warning John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff CME Group’s October Options Review included the fact that a record 57% of Natural Gas options (LN) traded electronically last month, with record electronic ADV of 64K contracts/day. Other highlights included record open interest in Treasury options, E-mini Russell 2000 Index options are gaining significant traction, relationship-based trading is expanding to all Ag options effective January 8, 2018, copper options continue to reach new records of open interest and Wednesday Weekly FX options are now trading!~JJL Asia Pacific Financial News for November 10, 2017.~JJL @JohnLothian has not tweeted more than 70,000 times.~JJL…

Could the ‘Intellicator’ Spill the Market’s Secrets?; 2 Chinese investors drop out of bid for Chicago Stock Exchange John Lothian Newsletter,Newsletter

First Read Hits & Takes This evening is the LaSalle Street Trading Tech Awards at the Chicago Board of Trade Building supporting the Pathway to Adventure Council of the Boy Scouts of America. John Hague of RSM and I are the co-chairs of the event. I would like to thank John for his leadership and also the management of the CBOT Building, Glenstar Properties, for helping make this event happen. This event is the reincarnation of the LaSalle Street Dinner Dance where the who’s who of the Chicago financial community would party under a circus tent in front of the…

Rolet’s LSE Exit Gets Complicated; Saudi Purge; Paradise Papers John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff CME is pleased to sponsor the Women in Listed Derivatives Annual Symposium in Chicago. This year’s symposium will feature Holly Glowaty, co-founder of K + H Connection, a Fintech partnership company, followed by a panel of distinguished financial advisors taking an in depth look at “Women and Personal Investing.” The panelist are:  Carolyn Leonard, CEO and Co-Founder of Dymynd (moderator) Patricia DeChant, Vice President at CIBC Atlantic Trust Private Wealth Management Mary DiChristafano, Graystone Consulting/Morgan Stanley Private Wealth Management Julie Shechtman, Senior Vice President at Morgan Stanley Wealth Management KhloÈ Karova, Owner…

Talk of CAT Delay; Bond vol shows signs of life; Investors fearless Newsletter,Options

Lead Stories Exchanges in talks with U.S. SEC to delay new audit system: sources John McCrank – Reuters Stock exchanges are in talks with the U.S. Securities and Exchange Commission to possibly delay the rollout of a new system aimed at helping the regulator better police the markets, sources familiar with matter the told Reuters. /goo.gl/WCiMXs ****SD: They’re going to have to make a decision shortly. SROs are scheduled to start reporting data to the central repository on November 15. Bond Volatility Shows Signs of Life as Rates Divergence Widens Cormac Mullen – Bloomberg As U.S. Treasury yields climb to…