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SocGen executives ordered Libor rigging, US prosecutors believed John Lothian Newsletter,Newsletter

SocGen

First Read Hits & Takes JLN Staff On Monday, the NYSE will launch a new equity option contract on the NYSE FANG+ Index – a new product that offers exposure to a select group of highly-traded next generation technology and tech-enabled companies. Yesterday, 2899 contracts of the FANG+ futures traded on ICE.~JJL Invest Or Wait When The Stock Market Is At An All-Time-High? The short answer always seems to be, don’t try to time the market and invest when you can.~JB As AI research continues in a myriad of fields, including finance, this should be worrying. I guess it’s like…

Goldman exits options market making; Historic volatility; SocGen struggles Newsletter,Options

Lead Stories Goldman Sachs to Withdraw From Part of U.S. Options Market Brian Louis – Bloomberg Will stop serving as a market maker on U.S. exchanges; Traders struggling with high costs, low volatility in options Goldman Sachs Group Inc. will stop serving as a market maker on U.S. options exchanges, following others in exiting that business amid high costs, sluggish volume and low volatility. /goo.gl/hxa23m ****SD: WSJ here. What’s the tech angle? More bronze than gold? Other “Goldman struggles” news from Reuters – Goldman taps energy execs in bid to turn around commodities unit Historic Volatility Recently Dropped Below 1.7…

The Cost of an Investment Conscience; Soc Gen clearing head joins Euronext as chief tech officer; T3 Securities, Inc. Partners with Matador Trading to Provide Mobile Technology that Offers Commission Free Trading with Social Networking John Lothian Newsletter,Newsletter

First Read Osaka Exchange of Japan Exchange Group Joins John Lothian News Sponsors; First Asian Exchange Sponsor of John Lothian News John Lothian News is pleased to announce that the Osaka Exchange has agreed to become a Contributor Level sponsor of John Lothian News. Osaka Exchange (OSE) is the derivatives arm of the Japan Exchange Group (JPX) and widely known as the mother market of Nikkei 225 Futures and Options. OSE renewed its trading platform in July 2016 and trading is now available nearly 24 hours a day in its markets, which are some of the most liquid in the…

Deutsche Bank walks away from US swaps clearing; Soc Gen sees fixed income trading boom; Crunch time for increasingly brittle London Metal Exchange John Lothian Newsletter,Newsletter

First Read Trump Preparing to Nominate Commodity Futures Trading Commission’s Giancarlo as Chair; The former brokerage executive is currently serving as acting chairman Andrew Ackerman – WSJ The Trump administration is preparing to nominate J. Christopher Giancarlo as chairman of the Commodity Futures Trading Commission, according to people familiar with the matter, elevating the former brokerage executive to the full-time head of the top U.S. derivatives regulator. /goo.gl/XFy2Wg ***** This would be a terrific outcome. Acting Chairman Giancarlo is widely respected and very knowledgeable. All we need now is some other commissioners. ++++ Nasdaq’s Black Belt CEO on IPOs, Unicorns,…

Yes, Precious: World Gold Council, LME and Banks to Launch New Gold, Silver Contracts Commentary

Doug Ashburn

Sometimes the best ideas are worth waiting 139 years for. On August 9, 2016, the World Gold Council and the London Metal Exchange, together with a consortium of banks, announced a planned launch of LMEprecious, a new platform for spot, daily and monthly futures, options and calendar spread contracts for gold and silver, with platinum and palladium planned for down the road. This will mark the second attempt at a gold futures contract at the 139-year-old LME. The previous one, London Gold Futures Market, launched in 1982 and never really caught on. It was shuttered three years later. In an early-morning interview…

John Lothian Newsletter: Deutsche Börse suggests dual holding company after LSE merger; German stock market sold Market News International; London’s financial district urges fast action on EU trade terms John Lothian Newsletter,Newsletter

First Read Bits & PiecesBy John J. Lothian First things first. Have you signed up your interns yet for our Chicago or New York MarketsWiki Education World of Opportunity series? Today is the day. Go here to sign them up. We have added John Rapa, chief executive officer at Tellefsen and Company, as a speaker for our MarketsWiki Education World of Opportunity New York events. He joins Nasdaq president and COO Adena Friedman, veteran equity strategist and CNBC personality Kenny Polcari, Gary DeWaal, arguably the most entertaining derivatives lawyer on the planet, and an additional half dozen financial luminaries in…

John Lothian Newsletter: Deutsche Börse suggests dual holding company after LSE merger; German stock market sold Market News International; London’s financial district urges fast action on EU trade terms John Lothian Newsletter,Newsletter

First Read Bits & PiecesBy John J. Lothian First things first. Have you signed up your interns yet for our Chicago or New York MarketsWiki Education World of Opportunity series? Today is the day. Go here to sign them up. We have added John Rapa, chief executive officer at Tellefsen and Company, as a speaker for our MarketsWiki Education World of Opportunity New York events. He joins Nasdaq president and COO Adena Friedman, veteran equity strategist and CNBC personality Kenny Polcari, Gary DeWaal, arguably the most entertaining derivatives lawyer on the planet, and an additional half dozen financial luminaries in…

John Lothian Newsletter: CFTC Too Broke to Properly Police Flash Traders, Massad Says; SocGen shares tumble 13% as sector sell-off resumes; Bond Trading Desks Get a Hand From Algorithmic, Equity Veterans John Lothian Newsletter,Newsletter

First Read A Fortune Built on the Back of Prayers John Lothian – John Lothian News Last week I announced on Facebook to my family and friends that I was headed to surgery again on my back. More about that later, but the response I received on Facebook made me realize why Mark Zuckerberg has become the fourth richest man in the world. My list of Facebook friends responded to news with best wishes, but more importantly with promises of prayers for my healing and well-being. This is not an uncommon experience on Facebook when people share challenges such as…

John Lothian Newsletter: SEC Set to Approve CEO Pay-Gap Disclosure Rule; An Exchange in Australia Woos Listings From China; China Hopes to Defy History of Market Bailouts John Lothian Newsletter,Newsletter

First Read ++++ MarketsWiki Education Summer Intern Series – Day One By Sarah Rudolph, Managing Editor, JLN Our Chicago Summer Intern Series kicked off with a packed auditorium at IIT and five lively speakers, who all spoke about their passion for the trading industry. Scott Gordon, the CEO of Rosenthal Collins Group, was up first with some tips for interns on success and balance in work and life. These included checking out the view from 30,000 feet – looking beyond your particular job to know the major players, products, drivers and interactions in your industry; asking questions rather than knowing…