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Tag Archives: UBS

Inside Danske’s EUR200bn ‘dirty money’ scandal John Lothian Newsletter,Newsletter

First Read Build or Buy? Exchanges Continue to Branch Out For Revenues Through Acquisition Jim Kharouf – JLN Exchanges are continuing to look at two areas for revenue growth – consolidation and acquisition of non-exchange service firms, according to a new report from Burton Taylor. – The report, presented at the World Federation of Exchange’s General Assembly and Annual Meeting in Athens and authored by Andy Nybo, shows that ICE topped exchanges in revenue in 2017 with $4.6 billion, followed by CME with $3.6 million, Deutsche Boerse with $2.7 billion, LSE Group with $2.5 billion and Nasdaq with $2.4 billion….

The Trader Who Shattered UBS Now Faces His Own Reckoning John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff FinTank now has its own YouTube channel and has posted video from their numerous events.~JJL American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American financial institutions, is looking for interns for the fall, spring and summer. They are looking for motivated undergraduate and graduate students in economics, business, finance and other related fields who wish to spend a semester working in the marketing or research departments of the exchange. The internships are based in Chicago. For further information, please contact Rafael Marques at AFX Internship Program: rmarques@theafex.com.~JJL Good…

Turn Yourself In, It’ll Be Easier: Bank Cooperation On Spoofing Charges Saves Millions Commentary,Feature

Over the past several months, there has been a fair amount of talk about the Commodity Futures Trading Commission’s push on the so-called “self-reporting” initiative launched last September and aimed at taking it easier on firms that come forward with wrongdoing. Yesterday’s announced spoofing charges and fines include one of the first such self-reporting cases, with HSBC Securities settling for $1.6 million, Deutsche Bank for $30 million and UBS for $15 million. Each was noted for their self reporting by James McDonald, the CFTC’s director of enforcement, who said in a statement: “Today’s enforcement action demonstrates that the commission will…

Mifid II launch overshadowed by futures delay; Ex-UBS Trader Says Bank ‘Mandated’ Conduct That Led to Libor Ban John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff OCC announced that 2017 volume reached the third highest total cleared contract volume ever.~JJL Jessica Darmoni will be moderating a panel at #STAC’s MidWinter Meeting on Artificial Intelligence and how it will influence future traders and analysts.~JJL Want a job with the NFA? Click here to learn more.~JJL CME Group averaged 16.3 million contracts per day in 2017, up 4% from 2016.~JJL John Sodergreen’s Risk Desk has an interview with CFTC Chairman Giancarlo on page 11 of the latest edition.~JJL Nasdaq PHLX LLC has given “Notice of Withdrawal of a Proposed Rule…

CBOE After Hours Liquidity; OCC on Data; Point72 algo trader hired from Citadel Newsletter,Options

Lead Stories ETH Liquidity Continues to Improve Matt McFarland – CBOE Options Blog CBOE’s Extended Trading Hours (ETH) offers trading in the Exchange’s flagship SPX, SPXW, and VIX option products beginning at 8:00 a.m. London time. CBOE made ETH available in March 2015 and has seen significant growth in 2017. Liquidity has continued to improve and has most recently dramatically increased with the entrance of two London-based dealers willing and able to commit capital to trades. Average daily volume has jumped from 4,400 contracts in 2016 to 7,500 in 2017, a 70% increase. August is on pace to be the…

UBS, BNP, RBS Get Subpoenas in U.S. Treasuries Probe; Brussels set for power grab on London’s euro-clearing market; Tradeweb Launches All-to-All Corporate Bond Trading John Lothian Newsletter,Newsletter

First Read You Look Mahvelous Dahling: “Mad Men” Ready to Walk the Exchange Red Carpet with Nasdaq Spencer Doar – JLN Fintech and regtech are firmly entrenched in the financial industry’s lexicon — if a new exchange has its way, “adtech” will be the next addition. The New York Interactive Advertising Exchange (NYIAX) plans to offer a guaranteed contract for digital advertising space on Nasdaq’s latest blockchain-enabled technology platform in Q4. “The advertising world is … becoming more sophisticated with how it buys and sells inventory and there are a lot of challenges around trust and transparency — knowing the…

Options Market Says China Risks Are Underpriced; This firm is competing with banks to hire data analysts, developers and even ex-traders; The monopoly aspirations of exchanges and the CFD rulings Newsletter,Options

Observations & Insight Predictive Bits & Pieces Spencer Doar – JLN Last Friday the CBOE hosted an event on predictive analytics. Some 50-plus people were in attendance to hear from Joe Gits of Social Market Analytics (SMA), Koleman Strumpf of the University of Kansas and Wachi Bandara of Pluribus Labs. While a range of topics were mentioned, much of the focus was on harnessing Twitter sentiment for actionable trade intelligence. The following are a few takeaways: Strumpf, who studies predictive markets — think of sites like Betfair — says that the days of their effectiveness as prognosticators is done. Don’t…

WILD to Hold 5th Annual Symposium Blog,Investing & Trading

“THIS IS OUR MOMENT” is the theme Women in Listed Derivatives, or WILD, is holding their fifth annual symposium on Tuesday, November 1 from 3 to 7 PM at the UBS Building in Chicago. This year’s program will feature opening remarks by OCC Executive Chairman and CEO Craig Donohue and an interview with longtime CME Board member and financial journalist Terry Savage. Mr. Donohune will be conducting the interview of Ms. Savage. There will also be a panel discussion that will focus on diversity in board and executive committees. Lynn Marek of Crain’s will moderate, something I have not seen before….

John Lothian Newsletter: Regulators Point to Risks From Rapid-Fire Trading, Clearing; UBS to Pay Over $500 Million in Fines for Manipulating Currencies and Libor; CME sees more contracts after June power launch John Lothian Newsletter,Newsletter

On the mend John Lothian reported in yesterday. He had a rough night before last, which happens when you pull out the IVs that pipe in the pain medicine. So he thought he would stay another day in the hospital, watch some more “Live with Kelly and Michael,” eat some more hospital food and ponder what else surgeons might work on next. ++++ Under New Management: Alan Campbell Looks To Expand Interest In Bloomberg Commodity Index Jim Kharouf – JLN Sometimes you just need a change of scenery. The Bloomberg Commodity Index, or BCOM, was taken on by Bloomberg in…