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Tag Archives: spoofing

Never Been So Many Almost Junk Bonds; Court ruling poses threat to retail brokerage industry John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff From FIA: FIA is a recruiting a new member of the team in its London office to oversee clearing policy and operations issues. The new hire will replace Declan Ward who is retiring from his role as Vice President of Clearing Policy and Operations in November after three decades in the industry. Declan joined FIA in February 2014 from NYSE Euronext, where he had spent 26 years in various roles at the London Traded Options Market (LTOM) and then Liffe, most recently as Executive Director NYSE Liffe Clearing. FIA President and Chief Executive…

Illinois Court refuses to dismiss indictment against software developer in spoofing conspiracy case John Lothian Newsletter,Newsletter

legal gavel

First Read Hits & Takes By JLN Staff On Wednesday, Matthew Kelly of the CME Group taught the law merit badge to a group of scouts as part of the Trading Tech 300 program for the 3rd year in a row. Thank you to Matt and his associates who helped, and to the CME Group for hosting this workshop. I greatly appreciate the CME Group’s historical support for Scouting.~JJL Yesterday, our friends at US Bank held a personal finance merit badge clinic as part of Trading Tech 300. Thank you to US Bank for the incredible experience you gave the…

SEC votes to improve oversight of dark pools; Powell’s Crypto Comments John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff ICE‘s Data and Listings segment generated revenues of $2.5 billion in 2017 and accounted for 54 percent of its consolidated revenue of $4.6 billion in 2017, according to its annual 10-K filing.~JK The Security Traders Association of New York, Investment Traders Association of Philadelphia and Security Traders Association of Chicago are all holding golf outings in the next month or so. Join the links – for more info.~SD EEX set a daily trading record for potato futures. The 1,239 contract record is the physical equivalent of more than 30 tonnes of taters.~SD Cheers…

TT’s Biondo Says AI Can Tackle Spoofing And More Feature,Mwiki,Video,video

It’s been eight months since Trading Technologies purchased AI-driven regulatory software firm Neurensic. Since then the firm has integrated the software into the TT platform and rebranded the service as TT Score. Jay Biondo, product manager, surveillance at Trading Technologies, spoke with John Lothian News at the FIA IDX 2018 conference about how the technology can be adapted to multiple market users from trading firms to regulators. The software is designed to find and alert firms of trading patterns that may be questionable or potentially illegal. Biondo said the firm is looking to ramp up alerting with a method called…

CFTC Division of Enforcement Trends Blog,Regulation

This piece was co-authored by Elizabeth Lan Davis, a former chief trial attorney at the Commodity Futures Trading Commission (CFTC), who joined Murphy & McGonigle a few weeks ago, and another lawyer at the Firm, Brian Walsh. On November 22, 2017, the Division of Enforcement (“Division”) of the Commodity Futures Trading Commission (“CFTC”) released its annual enforcement results, announcing that it had filed 49 enforcement actions for Fiscal Year 2017.  Despite the unexpected decrease to the CFTC’s budget, the agency’s enforcement program is on pace to markedly improve upon the number of filings made during Fiscal Year 2017. Since announcing…

Amazon and Google’s Cloud for Big Banks; Bold goals from Korean meeting John Lothian Newsletter,Newsletter

First Read Lessons From the “Not Guilty” Verdict in This Week’s Criminal Spoofing Trial Renato Mariotti Mariotti is a former federal prosecutor who spent almost 10 years investigating and prosecuting hundreds of cases in a wide variety of areas and is now a defense attorney. He is a former candidate for the Democratic nomination for Attorney General in Illinois. Wednesday’s stunning “not guilty” verdict in United States v. Andre Flotron, only the second spoofing case ever taken to trial, is a reminder that it is extremely difficult for prosecutors to prove a defendant’s intent beyond a reasonable doubt in the…

Lessons From the “Not Guilty” Verdict in This Week’s Criminal Spoofing Trial Feature,Regulation & Enforcement

Wednesday’s stunning “not guilty” verdict in United States v. Andre Flotron, only the second spoofing case ever taken to trial, is a reminder that it is extremely difficult for prosecutors to prove a defendant’s intent beyond a reasonable doubt in the absence of direct evidence. We should expect the DOJ and CFTC to reevaluate their charging practices in the wake of this significant defense victory. The seeds of the “not guilty” verdict were sown when the DOJ drafted an initial indictment charging Flotron in the District of Connecticut with a single count of conspiring with others to “drive prices” up…

Swaps Rules Due for Overhaul – CFTC; Ex-UBS Trader Beats Spoofing Charge John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Andreas Preuss and Jeffrey Tessler have been replaced on the Deutsche Boerse AG Executive Board. Thomas Book, Christoph Bohm and Stephan Leithner have been appointed to the board.~JJL Yesterday’s Fintech Exchange, hosted by Barchart, kicked off with with the Startup Exchange Competition – 16 start-ups introducing their innovative companies. PanXchange won the competition, for its technology and approach to raw commodities. The company listed frac sand in October 2017. Second went to Coinifide, a start-up that is building a trading education and trading platform for cryptocurrency markets. Third place went to Freight Exchange,…

Renato Mariotti for Illinois Attorney General: A Former Prosecutor and Current JLN Reader Americas,Blog,Commentary,Mwiki,Politics,Regions

A Former Prosecutor and Current JLN Reader Is The Best Choice For Illinois AG Democratic Attorney General candidate  Renato Mariotti stopped by the John Lothian News offices in the Chicago Board of Trade Building on Tuesday, March 6 for a sit down video interview. He has been a John Lothian Newsletter reader since 2012, and he used the market and industry knowledge he gained from reading the newsletter to bolster his success as a federal prosecutor. Mariotti is a former prosecutor in the US Attorney’s office in Illinois who is seeking election to a public office for the first time and…