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Tabb Options Liquidity Matrix; Cliff Asness on equity volatility; The tasty nation adds an entree, tastyworks Newsletter,Options

Lead Stories US Options Volume Falls in December TABB Forum US listed options volume declined in December as traders pulled back after an active November propelled by the surprise election of Donald Trump. Volume totaled 327.5 million contracts in December 2016, a 14.5% decline from November’s 383.2 million contracts. jlne.ws/15F92GM Cliff Asness – 2016 Beyond Equities: Still Boring ValueWalk Writing my post titled “2016 Was Not a Particularly Volatile Year” on realized risk/variability turned out to be even more fun than usual as I got a lot of great comments on it. Of course, some didn’t buy it. Some said…

Volatility slump defies election shock; Independent US oil producers increase hedges for 2017; Profiles in Uncertainty – Election Night Lesson in Market Dynamics Newsletter,Options

Observations & Insight How we talk Jim Kharouf – JLN My column yesterday, What Just Happened about the election of Donald Trump as the next president of the United States struck a chord with readers. We received more reader feedback on this column than we have in some time, some negative, some supportive. Here are a few. “Thanks for this insightful OpEd. You articulated so many feelings I’m still trying to process.” And this: Wow, what an ignorant, cheap shot to smear nearly 60 million Americans that way. Deplorables, right? As a life-long New Yorker, I’ve watched Trump in action…

John Lothian Newsletter: Former LSE executive launches U.S. retail brokerage Ustocktrade; BGC Partners Completes Full Merger with GFI Group; U.S. Exports First Freely Traded Oil in 40 Years John Lothian Newsletter,Newsletter

First Read The Future of the Future in Asia Lewis Richardson – Derivatives Business Development Manager – Fidessa Asia continued to be front and centre on the world stage throughout last year, in futures terms at least. The Asian markets, bolstered by the entry of ICE and pending entry of Eurex, have become the only region in the world to see a growing number of Futures Commission Merchants setting up shop. Healthy volumes were helped by Chinese institutions looking to combat the decline in domestic markets by venturing further afield. The rise of the Asian superbroker, a trend we noticed…

JLN Financials: How David Bowie Changed Wall Street; Heed the fears of the financial markets; Could this be the new model for central banks? Financials,Newsletter

First Impressions Survey Says – Give the readers what they want! John Lothian News Today we are kicking off our 2016 survey campaign. Help us help you by giving us three minutes of your time and sharing your thoughts. You should have already received a special survey request email, but if not, you can take it by clicking below conta.cc/1On6MXh Sweet 16 Honorable Mention – Technology JohnLothianNews.com The John Lothian News Sweet 16 Series featured the 16 best ideas and thoughts about exchanges, regulation, economics and technology. But there are still more great ideas for 2016 that made our honorable…

John Lothian Newsletter: Hedge Fund Veterans Who Blew Themselves up Now Courting Chinese Investors; The Franc Problem with Switzerland; Britain begins first Euribor rate-rigging case John Lothian Newsletter,Newsletter

First Read Bits & Pieces, and RIP Doug Ashburn and Jim Kharouf – JLN If you opened the newsletter last week, you read about something new we are doing – a recap of the top-clicked stories from the previous newsletter. Friday’s tops are “How ‘Big Short’ Actor Jeffry Griffin Went From Day Trader to Ryan Gosling’s Sidekick” from Fortune, followed by TABB Group’s newest research summary, “Unintended Consequences: Tax Regulations and the US Listed Options Market”. Third prize goes to the WSJ story, Bonuses Get Squeezed on Wall Street. Entertainment, market structure and money – a nice cross-section of what…

John Lothian Newsletter: Speed Trading Heavyweight Allston Pulls Out of Stock Market; Borsa Istanbul in talks over stake sale; CME Starts Gold Futures in Hong Kong in Price-Benchmark Race John Lothian Newsletter,Newsletter

First Read On Voluntary Subscriptions By John Needham, Needham Consulting I am a believer that folks should use whatever free resources available to them, both professionally and personally. Facebook, Twitter, LinkedIn, and Instagram are examples of services that are free for ordinary users/consumers, and I use all of them, for personal or professional purposes. (Sometimes I use one or more of them for both.) My usage for each of these services is based on their cost to me – nothing! If one or more of these services started to charge for the servies, then I’d make a value judgement on…

John Lothian Newsletter: Regulator to Review Leverage Limits for Currency Trades; CFTC approves TOCOM as an FBOT; Banks Must Bear the Risk of Derivatives Losses, CME Paper Says John Lothian Newsletter,Newsletter

First Read SEC Announces Charges Against Standard & Poor’s for Fraudulent Ratings Misconduct SEC The Securities and Exchange Commission today announced a series of federal securities law violations by Standard & Poor’s Ratings Services involving fraudulent misconduct in its ratings of certain commercial mortgage-backed securities (CMBS). jlne.ws/1um1vFI ***** Charges come how many years later? ++++ NYSE Unveils New Trading Room By Kristen Scholer New year, new digs for traders at the New York Stock Exchange. The NYSE, a subsidiary of Intercontinental Exchange Inc.ICE -0.68%, debuted a brand new trading room Tuesday morning before the opening bell. The space, dubbed “The…

John Lothian Newsletter: Deutsche Börse takes step nearer Singapore clearing house; Big fund managers form new dark pool equity trading venue; Swiss franc fallout claims more casualties John Lothian Newsletter,Newsletter

First Read Focused: What The Industry Knows About Transparency (Part 2) JohnLothianNews.com Back in November, the industry gathered for the annual FIA Expo event in Chicago. There, John Lothian News used an exhibitor booth (Thanks Cinnober!) as its studio to ask industry participants key questions about transparency issues in today’s markets. Part 2: What solution would you suggest in order to improve transparency in the markets today? Watch the video » ++++ China funds become new force in global commodity trade By Henry Sanderson in London and Lucy Hornby in Beijing, FT China’s Shanghai Chaos investment fund is named after…

John Lothian Newsletter: Swiss franc rockets as currency ceiling scrapped; Nasdaq plans challenge to CME and ICE in energy derivatives; U.S. SEC adopts rules establishing regime for swap data warehouses John Lothian Newsletter,Newsletter

First Read Bits & Pieces By Doug Ashburn – John Lothian News When Jim Binder left his job at OCC three months ago, there was much speculation around the office as to where he would end up. Yesterday afternoon we saw this post on Jim’s Facebook page: “About this time 15 years ago I started working as an editor at Securities Week for Standard & Poor’s at 55 Water St in NYC. Ten years ago tomorrow I arrived back in Chicago so I could start working in PR at OCC on the day after MLK Day. Tomorrow I arrive in…