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JLN Options: CBOE Working to Resolve Incorrectly Sent Trades – Exchange Newsletter,Options

Lead Stories CBOE Working to Resolve Incorrectly Sent Trades – Exchange Jacob Bunge, The Wall Street JournalThe Chicago Board Options Exchange said “numerous” trades from Thursday appeared in its system after Friday’s market close, potentially leaving customers with incorrect positions.http://jlne.ws/ZLV5EM About that Friday Turnaround in the Price of GoldBrendan Conway, Barron’sGold’s price is rising Monday and has reached as high as $1,478, a peak since April 12.Friday, the metal’s price took a turn lower for no obvious fundamental reason. Here’s more color on the midsession turnabout from Susquehanna Financial Group – specifically on the alleged role of options-market activity:http://jlne.ws/Zgs4N3 Twitter…

JLN Options: Options leaders opposing tax reforms and transaction tax Newsletter,Options

Commentary & Insight Options leaders opposing tax reforms and transaction taxBy Jim Kharouf Options exchange leaders at the Options Industry Conference in Las Vegas voiced strong opposition to proposed tax reform and transaction tax proposals. Steve Crutchfield, who heads NYSE Arca and NYSE AMEX, said that the proposal at tax reform would issue a tax on regular retail investors who are looking to cover their stock positions. The 60/40 tax treatment is also under fire, under the proposal. Crutchfield said that the proposal is “a severe deterrent to investors to manage their risks.” “Just buying some downside protection while I…

JLN Options: CBOE Reopens After Malfunction Shuts Options Exchange Newsletter,Options

Lead Stories CBOE Reopens After Malfunction Shuts Options ExchangeNikolaj Gammeltoft, Nina Mehta & Lu Wang, BloombergThe Chicago Board Options Exchange opened for trading three-and-a-half hours late today after a software malfunction shut the derivatives market as its top executives were away at an industry event in Las Vegas.http://jlne.ws/14T3jyj CBOE Holdings Statement on Today’s Trading Issue Press Release (CBOE – full text)CHICAGO, IL, April 25, 2013 — CBOE Holdings, Inc. (NASDAQ: CBOE) statement regarding this morning’s trading issue: This morning, a system issue delayed the opening of options trading at Chicago Board Options Exchange (CBOE) from 8:30 a.m. until 11:50 a.m….

JLN Options: CME Group data flap shuts down regulator’s research program Newsletter,Options

Lead Stories CME Group data flap shuts down regulator’s research programSarah N. Lynch, ReutersThe world’s largest futures exchange has accused the top U.S. derivatives regulator of illegally sharing sensitive market data with outside researchers who then used the information to publish academic papers about high-frequency trading.http://jlne.ws/ZrJP0l Fake tweet erasing $136 billion shows markets still need humansLu Wang, Whitney Kisling & Eric Lam, BloombergA false report of explosions at the White House that wiped out $136 billion from the Standard & Poor’s 500 Index in about two minutes highlighted the risks of the computerized trading that dominates the $18 trillion market.http://jlne.ws/ZrK7Ew…

JLN Options: CBOE May Retire From Police Beat Newsletter,Options

Lead Stories CBOE May Retire From Police Beat  Jacob Bunge, The Wall Street JournalThe parent of the Chicago Board Options Exchange is considering whether to separate out its regulatory division in the wake of a continuing federal probe into potential conflicts of interest, people close to the discussions said.http://jlne.ws/11i2yIx What a ‘Global’ Market Does When AP’s Twitter Account is HackedBrendan Conway, Barron’sThe AP’s hacked Twitter account erroneously reports an explosion at the White House. The Dow drops more than 100 points instantly. Then it swiftly recovers after people realize nothing bad has happened:http://jlne.ws/15EHgec CME Group Mistakenly Revealed Swap Trades to Market…

JLN Options: Volatility’s Biggest Week of 2013 Was Not Very Big Newsletter,Options

Lead Stories Volatility’s Biggest Week of 2013 Was Not Very BigBrendan Conway, Barron’sThe “fear gauge” climbed 24% last week, the most in nearly four months. But these days it takes more than a commodity selloff and weak data in China to get investors genuinely worried.http://jlne.ws/109CywD VIX Has Biggest Weekly Increase of 2013 as Stocks DropNikolaj Gammeltoft and Cecile Vannucci, BloombergBusinessweekU.S. equity volatility rose the most in almost four months last week after unexpectedly slow growth in China and a selloff in commodities triggered the biggest stock-market drop since November.http://jlne.ws/109Auoh Bloomberg lawsuit will not stem swap futuresThe TradeBloomberg’s legal action against…

JLN Options: Options volume on expiration light due to Boston lockdown Newsletter,Options

Lead Stories Options volume on expiration light due to Boston lockdownAngela Moon and Doris Frankel, ReutersOptions trading volume on Friday was unusually light as much of Boston, a major U.S. financial center, was under lockdown as police hunted for a suspect in Monday’s Boston Marathon bombings.http://jlne.ws/12t3yfE**Obviously, the options volume was not the tragedy here. A very sad time for Boston and for all of us. — SR Credit Suisse Embraces the Dark Side of TradingNathaniel Popper, DealbookThe debate over dark pools — private, electronic stock trading platforms — may get more murky.Credit Suisse, the operator of the nation’s largest dark…

JLN Options: ‘Fear Index’ Surging? This Chart Says It’s a Speed Bump Newsletter,Options

Lead Stories ‘Fear Index’ Surging? This Chart Says It’s a Speed BumpBrendan Conway, Barron’sThe “fear index,” which jumped 18% on Wednesday, is up 30% this month. But dig a little deeper to see the way the market prices S&P 500 (SPY) volatility has barely budged.http://jlne.ws/13kP7t6 Quantitative easing is like a ‘huge glass of warm milk’ for VIXTom Bemis, MarketWatchNicholas Colas, chief market strategist at ConvergEx, argues Wednesday that if these were normal times, the fear index would be double where it is.http://jlne.ws/XTCqai Volatility Readings Signaling Systemic Changes for Stock, Gold, FX?John Kicklighter, Daily FXVolatility is used by many as a…

JLN Options: VIX Bets Post Biggest Rally in 7 Weeks as S&P 500 Drops Newsletter,Options

Commentary & Insight Raj Mahajan, Allston Trading CEO, Talks HFT and the Business of Prop TradingMarketsWiki.tv Raj Mahajan took the reins at Allston Trading as CEO in September 2012 and has spent a good deal of his time looking at the issue of high frequency trading (HFT). Allston has been one of the proprietary trading firms who has been willing to publicly discuss HFT, regulation and the future of that form of trading. Mahajan spoke with JLN’s editor-in-chief Jim Kharouf about HFT as well as the business challenges and opportunities for prop firms. Watch the video » Lead Stories VIX…