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Tag Archives: Virtu Financial

Vela to acquire Object Trading complementing its recent acquisition of OptionsCity; They’re The World’s Fastest Traders. Why Aren’t They Thriving?; Why Everyone’s Trading Volatility Newsletter,Options

Lead Stories Vela to acquire Object Trading complementing its recent acquisition of OptionsCity; Acquisition enables Vela to offer a comprehensive software and managed services solution across the entire electronic trading workflow Vela Trading Technologies LLC (Vela), an award-winning global leader in high performance trading, market data, and analytics technology, has signed a definitive agreement to acquire Object Trading, a global provider of a fully-managed Direct Market Access (DMA) platform, pre-trade risk controls, and analytics applications. /goo.gl/qzVNsV ****SD: Who’s going to be number three? My Spidey sense is tingling a bit. When Brian Cassin, Vela’s head of product strategy, spoke at…

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…

HKEX and LME Announce New LME Chief Executive and Leadership Structure; Deutsche Bank Is First Bank Busted for Breaking Volcker Rule; Deutsche Boerse Boss Admits Mistakes in Failed LSE Deal John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian David Setters is turning 60 this weekend and of course some friends are gathering to celebrate this happy occasion. What they are also doing is giving gifts of donations to support MND research, the disease that is afflicting David. Would you help David celebrate birthday with a gift to the MND Association? David and his friends have raised £47,725.50 to date through various activities and fundraisers. How about we help David get that amount to £60K? Congratulations to Matt Chamberlain on being named CEO of the London Metal Exchange. I can…

Trading firm Virtu Financial to buy KCG for about $1.4 billion; Mystery trader ’50 Cent’ can’t stop betting on a stock market shock; Euro, currency volatility jump ahead of French election first round Newsletter,Options

Observations & Insight World Federation of Exchanges publishes Annual IOMA Derivatives Report WFE The World Federation of Exchanges (“WFE”), which represents more than 200 market infrastructure providers including exchanges and CCPs, has today published its annual report into the global derivatives market. Highlights of the report are as follows: 1) Derivatives volumes continued to grow in 2016 – increasing by 2.2% on 2015 – reaching a total number of 24.9 billion derivatives contracts. 2) This was made up of 9.4 billion options (38%) and 15.5 billion futures (62%) traded. /goo.gl/XGB4dP Lead Stories Trading firm Virtu Financial to buy KCG for…

The Great US Options Octopus; The 2017 Short Trade That’s Getting Pummelled This Week; Options Traders’ `Butterfly’ Bets Signal Oil Rally Not Over Newsletter,Options

Lead Stories The Great US Options Octopus The Trade Derivatives – Spring 2017 The US options market is a conundrum. Although volumes have remained flat over the past five years, the number of exchanges has expanded to 14, with the potential of another opening just around the corner. During this time the number of market-makers has dropped dramatically, from about 60 market-makers quoting on multiple exchanges five years ago to only 15 today. /goo.gl/I8jV9V ****SD: This is a link to the page 46 of the magazine where the story starts. Nice encapsulation of the issues although due to production turnaround…

CME Group to shutter London exchange, clearing house; CME Group Intends to Close CME Europe and CME Clearing Europe by Year-End; Chi-X Australia boss John Fildes steps down John Lothian Newsletter,Newsletter

First Read How Blockchain Is Changing Gold Markets Peter Shadbolt – CME Group The Royal Mint and CME Group team up to create a new digital gold product; The RMG blockchain and trading platform are in live testing with major financial institutions; An open source blockchain aims to give more transparency to gold settlement One of the great promises of blockchain technology is that it could transform the way we conduct transactions. From banking to smart contracts to recording land titles, the promise of blockchain technology to make a whole range of functions more efficient is being tested in proofs…

Virtu Financial Makes Bid to Acquire KCG Holdings; Ovation for new CFTC chief reflects hopes, raises risks; US regulator reveals broad push to revamp derivatives rules John Lothian Newsletter,Newsletter

First Read How do we make American markets great again? Keep it simple, stupid. Spencer Doar – JLN CFTC Commissioner Christopher Giancarlo detailed his plan for the agency after being nominated by President Trump as chairman of the Commodity Futures Trading Commission on Wednesday at FIA Boca. Gene Simmons would be proud — the new initiative is called Project KISS (Keep It Simple, Stupid). KISS has three key goals: fostering U.S. economic growth, enhancing markets and “rightsizing” the agency’s footprint. All of these tie into Giancarlo’s overarching point about the agency — it has lost sight of its regulatory goals….

CME Group bids for LSE’s French clearing business; The Royal Mint and CME Group to Launch Royal Mint Gold; Joint Deutsche Bundesbank and Deutsche Borse blockchain prototype John Lothian Newsletter,Newsletter

First Read Smile When You Buy Just Like You Do When You Give By John J. Lothian Today is GivingTuesday. I can only suspect this new holiday was created to give some balance to Black Friday and Cyber Monday shopping extravaganzas. Today we are supposed to pause from our excessive consumerism and give something back to worthy charities. Thanks to our friends at Amazon, you can turn every day into GivingTuesday through the Amazon Smile program (smile.amazon.com). When you buy items from Amazon, and click on the Smile URL, you can select a charity to which Amazon will give .05…