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CME pursuit of Nex reflects shift in US money markets; SEC fine of radio presenter puts watchdog on the line; Bloomberg and Reuters see market share in data slip John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Yesterday my six foot six inch tall son Robby was diagnosed with a partially collapsed lung, or spontaneous pneumothorax, which is common in tall, thin youth. As a result, I had to miss the Ken Heath Awards presentation where Leo Melamed was one of the winners of the award. I also missed the open house for the new offices of Gate39 Media. Robby is doing well, though he is in a pediatric ICU unit. He is more used to visiting me sitting in a hospital bed than the other way around.~JJL ICE has…

Cryptocoin Market Met Its Match?; Blackstone, Thomson Reuters Said to Weigh Tradeweb IPO, Sale John Lothian Newsletter,Newsletter

First Read More Questions Than Answers For A Potential CryptoMarketsWiki ICO John Lothian – JLN In the announcement of CryptoMarketsWiki last week, I mentioned that the project would explore the initial coin offering process from an editorial and strategic perspective. If our due diligence works out, we may go ahead and conduct an ICO and use the token in our business operations. But there are lots of questions to answer before we get there. In fact, there are lots of questions we don’t even know yet, let alone know the answers. However, if we are going to build the central…

Financial fragility rising; Clayton “not happy” with CAT delay; VIX action Newsletter,Options

Lead Stories Goldman Sees ‘Financial Fragility’ Rising in Markets Joanna Ossinger – Bloomberg Early-February VIX spike might be a symptom of a larger issue; There are reasons to believe ‘liquidity is the new leverage’ Markets are becoming their own worst enemies, according to Goldman Sachs Group Inc. The stock-market rout in early February that caused a spike in the Cboe Volatility Index is a symptom of growing “financial fragility,” or big swings in prices caused by breakdowns in markets themselves as opposed to changes in fundamentals, an economist at the bank wrote Monday in a note to clients. To make…

SEC Urges End to CAT standoff; Deutsche Boerse plans FX expansion; HKEX working with ASX on blockchain John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Our Page Of The Day yesterday was industry legend Robert J. O’Brien, who turned 100 years old yesterday. His contributions to the industry and interviews with Mr. O’Brien were documented in the RJO O’Brien Centennial Video about the firm’s own 100 year anniversary in 2014, a video produced by John Lothian Productions.~JK Longtime accounting and back office professional Mark Connelly has left the futures industry. He started a new position as senior vice president – operations for All Clean Services responsible for running the Midwest Region. His responsibilities include managing and growing the…

What’s the Biggest Trade on the New York Stock Exchange? The Last One John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff CFTC Chairman Chris Giancarlo opened his speech to the FIA International Conference in Boca Raton by honoring Leo Melamed and his contributions to the industry upon which all market participants benefit. Leo is the giant “upon whose shoulders we all stand,” Giancarlo said, noting Leo had announced his retirement from the CME Group’s board. It was a classy display from the popular CFTC Chairman. Kudos Mr. Chairman!~JJL During the lunch at the FIA Conference, before the presentation by the journalist and author Walter Isaacson, a tribute video was shown honoring Mike Dawley, who…

HKEx May Have Reached Its Peak; Crypto Could Be Lifeline for CHX; Hundreds of European stocks barred from dark pools John Lothian Newsletter,Newsletter

First Read Statement on Potentially Unlawful Online Platforms for Trading Digital Assets Divisions of Enforcement and Trading and Markets SEC Online trading platforms have become a popular way investors can buy and sell digital assets, including coins and tokens offered and sold in so-called Initial Coin Offerings (“ICOs”). The platforms often claim to give investors the ability to quickly buy and sell digital assets. A number of these platforms provide a mechanism for trading assets that meet the definition of a “security” under the federal securities laws. If a platform offers trading of digital assets that are securities and operates…

BOE’s Carney Calls for Rules to End Cryptocurrency Anarchy John Lothian Newsletter,Newsletter

anarchy

First Read Don’t Blink, The Markets Are Changing Right In Front of Your Eyes; Eighteen Years Later, Another Inflection Point By John Lothian – JLN Eighteen years after the start of this newsletter, the markets and its participants face new challenges that make reading JLN today even more important, relevant and necessary to keep abreast of the latest disruptive challenges. Today we find ourselves at an inflection point in the markets, with a new generation of digital natives discovering whole new opportunities in the markets, billions of dollars pouring into potentially disintermediating fintech and intense global interest in all things…

As SEC Subpoenas to Tech Companies in Digital Tokens Market Increase, What Issuers Need to Know Blog,Commentary,Exchanges, OTC & Clearing,Feature,Fintech,Investing & Trading,Mwiki,ReformWiki,Regulation

  The Securities and Exchange Commission (“SEC”) reportedly has revved up its focus and issued a significant number of subpoenas targeting technology companies in the digital token space, following on earlier pronouncements from the agency that it would expand its focus on ICOs and cryptocurrencies. The subpoena process is one of the primary weapons in the SEC’s enforcement arsenal, and ICO issuers will need to understand what they can expect over the next few weeks.  What is a subpoena? A subpoena is a formal request from the SEC staff for documents or testimony, which can be enforced with a court…

Stock exchanges cast wary eye at threat from big tech; Cryptocurrency Firms Targeted in SEC Probe John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff From today’s Bloomberg piece This $1 Trillion Money Manager Just Joined the Crypto Frenzy, “shares in Taiwan Semiconductor Manufacturing Co., which manufactures chips for Nvidia Corp. and Advanced Micro Devices Inc., have climbed 34 percent since the beginning of 2017 and surged to a record in January.”~JK Did you know that Temenos Group AG, the Geneva-based banking technology company that has bid for Fidessa, is the fourth largest software firm in Europe? That, what “Temenos” means and more HERE~JK JPX reported that in February 2018, total derivatives trading volume was 40,059,157 contracts, a…