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Tag Archives: Vincent Viola

Deutsche Boerse Said to Favor UniCredit’s Weimer for CEO; Junk Bond Sell-off; Virtu’s Viola warns of clearing house risk John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff ICE announced a number of management team promotions today, including: Charles A. Vice has been named vice chairman, with continued responsibility for ICE’s global technology, information security and operations. He was previously president and chief operating officer, and has been with ICE and its predecessor company for more than 23 years. Press release here.~SR Click here for yesterday’s JLN Options newsletter.~SD See the latest thought leadership piece from Steve Grob of Fidessa, titled “Loophole lunacy” HERE.~JJL Asia Pacific Financial News from John Lothian News – November 14, 2017~JJL It appears there has…

Anxiety Dissipates After First Ballot; Expectations for euro-dollar, US stock volatility plummet; The Downside of Managing Downside Risk Newsletter,Options

Observations & Insight Last week’s notables A lot happened last week in the options space. If anybody didn’t follow the week’s developments, here’s a little recap. Big trends are continuing in the market making world. I wouldn’t say they are good. First, Interactive Brokers revealed in its earnings that the firm’s market making operations lost $22 million in Q1. (Remember that the company revealed a bit ago that they were shuttering their options market making operations — some of this loss is restructuring costs.) Second, the KCG/Virtu deal was agreed upon for $1.4 billion. It’s getting hard out there and…

Here’s What Analysts Are Saying About the First Round of French Elections; Charts Show Traders Writing Down Chances of a Le Pen Presidency; OCC seeks leverage ratio relief as liquidity shrinks John Lothian Newsletter,Newsletter

First Read The future of futures markets: Exchanges looking to fail fast By Jim Kharouf, JLN Andreas Preuss, deputy CEO, Deutsche Boerse had a show stopper. At the IOMA: World Federation Exchanges conference in Frankfurt on Friday, he said his exchange will have to speed up its business processes exponentially in the next two to three years in order to thrive. Implementing products and services from beginning to release will go from today’s 18 months to 4 days. Yes, you read that correctly. And no, no one in the audience was laughing. “The old way was seven months of iterations…

CME Group to broaden rules against wrongdoing after CFTC request; Republicans Get Ready to Roll Back Dodd-Frank Law; German minister calls for LSE-Deutsche Boerse HQ in Frankfurt John Lothian Newsletter,Newsletter

First Read Deep Breath Jim Kharouf, JLN Upon our return from Washington DC last week, there was the unanswered question still hanging in the air: “What will become of Dodd-Frank?” Of course, no one really knows just yet. All the hyperbole from politicians in DC make for big headlines. But as the Wall Street Journal piece Republicans Get Ready to Roll Back Dodd-Frank Law pointed out, passage of new laws in the Senate will require 60 votes, and Replublicans hold 52 seats. Will we see a rollback of Dodd-Frank? A rollback at Walmart means that dish detergent that was priced…

New China options to pave way for open commodities trading; Amsterdamtrader stops; “Open outcry” is in retreat but futures and options trading-volumes surge Newsletter,Options

Lead Stories New China options to pave way for open commodities trading Lucy Hornby – Financial Times As China prepares to introduce its first options contracts for commodities trading, the head of one of the country’s leading bourses for raw materials has shrugged off fears that the move will add to the extreme volatility in commodities seen in 2016. “We [in China] are behind international markets because we have too few tools, too few products,” says Li Zhengqiang, chairman of the Dalian Commodity Exchange, adding that introducing more products and new instruments like options will help hedge risk, not add…