Your guide to the happenings in derivatives markets and trading since 2000
John Lothian Newsletter
Today's Newsletter
ECB scraps clearing powers request in EU tussle; Europe’s bourses say report refutes data profiteering claims
Get a FREE 90 day trial of John Lothian Newsletter First ReadHits & TakesJLN StaffThe FIA is looking for a new VP of Global Industry Operations and Execution to oversee FIA's Operations and market Technology Divisions. Here is a link for...
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JLN Options Newsletter
Today's Newsletter
Dead Calm as Fed Vows No Action; No-Deal Brexit Possibility Comes Alive; Short and Distort?
Get a FREE 90 day trial of John Lothian Newsletter Lead StoriesDead calm in markets unsettles Wall Street as Fed vows no actionPeter Wells and Robin Wigglesworth - Financial Times (SUBSCRIPTION)Volatility across several major asset classes has...
Everything you need to know about Options Today
Lead Stories
Go Small or Go Home: CME’s Micro Launch
Smaller contract means more flexibility There are anywhere from 50,000 to 200,000 active retail users of futures. Meanwhile, there are some 13 million retail accounts trading other parts of the market that do not trade futures. CME Group wants...
Saving Big Money: How a small fintech firm figured out how to save banks billions with DLT
There’s a lot of chatter these days about the viability, perhaps even the legitimacy, of distributed ledger systems for the financial markets. Lost in the “blockchain is dead” noise are some interesting cases that show just how DLT technologies can be used effectively in key pain points in the market.
MarketsWiki
Page of the day
European Central Bank
The European Central Bank has withdrawn a request it made in 2017 for greater powers to tackle financial stability risks in the euro-denominated derivatives market. The bank said the way its request had been handled by the European Parliament and EU national governments had led to a result that risked limiting its freedom of action more than empowering the ECB to act, the Financial Times reported.
CryptoMarketsWiki
Page of the day
Copper
Copper Technologies, a cryptocurrency custody and brokerage firm based in London, has begun using technology known as "air-gapping," a cybersecurity method used by high-security military facilities, to protect its customer's digital assets.
Lead Stories
Go Small or Go Home: CME’s Micro Launch
Smaller contract means more flexibility There are anywhere from 50,000 to 200,000 active retail users of futures. Meanwhile, there are some 13 million retail accounts trading other parts of the market that do not trade futures. CME Group wants...
Saving Big Money: How a small fintech firm figured out how to save banks billions with DLT
There’s a lot of chatter these days about the viability, perhaps even the legitimacy, of distributed ledger systems for the financial markets. Lost in the “blockchain is dead” noise are some interesting cases that show just how DLT technologies can be used effectively in key pain points in the market.
Ex-CFTC chairman calls for SEC to regulate cryptocurrencies
Economic Studies at Brookings yesterday dropped a call for better regulation of the cryptocurrency and digital assets industries by none other than Tim Massad, the former chairman of the CFTC. As befits the former head of an agency that embraced principles-based regulation, Massad’s paper is long on analysis of the industries and the regulatory issues that seem to afflict business conditions.
Chicago Mayor Emanuel addresses FinTank meeting, makes case for Chicago as crypto and fintech hub
In what might prove to be a seminal moment in the development of the cryptocurrency and blockchain community in Chicago, Chicago Mayor Rahm Emanuel addressed an audience of nearly 150 on Monday. Extolling the virtues that Chicago possesses, Emanuel made the case that the city has the opportunity to become a preeminent global fintech center.
The Spread – There Goes the Sun – 3/18
Last year we filmed our FIA Boca edition of "The Spread" in a pool. However, we were at a different Airbnb this time, so you are not in for a repeat treat. The following are the stories referenced in this week's episode: -CME Group -> CME...
The Small Exchange: Building a new ecosystem for the little fish
It's about time this industry got smaller. It's no secret futures markets have been built largely for the average multinational commercial operation, well capitalized market markers, hedge funds, CTAs and proprietary trading groups. Retail...
Pardon our dust: Crypto markets still have some building to do
The institutionalization of the crypto market is going to take some time – be patient.
Panelists on the cryptocurrency panel at FIA Boca said there is still infrastructure building that needs to be done before the asset class becomes mainstream.
How Chris Giancarlo Helped The Futures Industry Get Its Groove Back
Chris Giancarlo will go down as perhaps the most popular regulator in industry history. The CFTC chairman, who will step down this year after joining the agency in January 2017, gave his farewell address at the FIA Boca conference this year with a focus on the agency’s achievements during his term.
Chinese Day Traders Manipulating US Markets
Chinese-based day traders are taking increasingly sophisticated steps to manipulate stocks traded on US markets, according to a surveillance firm executive.
Research and analysis conducted by Eventus Systems, a compliance, surveillance, and risk management firm, has detected regular instances of manipulation by Chinese-based traders trading predominantly Chinese companies listed on US stock exchanges.
China’s Night Traders Are Moving U.S. Stocks
Get a FREE 90 day trial of John Lothian Newsletter First Read Hits & Takes JLN Staff The JLN staff arrived safely in Boca Raton for the FIA International Conference at the Boca Resort. Our plans for renting a Chevrolet Suburban to transport...
New York’s New West Coast Digs
New trading floor just a part of NYSE's new San Francisco facility NYSE is set to have new digs in San Francisco when its NYSE West facility opens Monday, March 11. Obviously, New York is the area most thought of when it comes to all things...
The Spread – Wild West – 3/8
A judge’s comparison of FX options trading to the Wild West, MIAX’s news-making tear, and a little bit of Simon and Garfunkel awaits viewers of this week’s episode of “The Spread.” The following are stories referenced in this week's episode: -...
Ex-CFTC chairman calls for SEC to regulate cryptocurrencies
Economic Studies at Brookings yesterday dropped a call for better regulation of the cryptocurrency and digital assets industries by none other than Tim Massad, the former chairman of the CFTC. As befits the former head of an agency that embraced principles-based regulation, Massad’s paper is long on analysis of the industries and the regulatory issues that seem to afflict business conditions.
Chicago Mayor Emanuel addresses FinTank meeting, makes case for Chicago as crypto and fintech hub
In what might prove to be a seminal moment in the development of the cryptocurrency and blockchain community in Chicago, Chicago Mayor Rahm Emanuel addressed an audience of nearly 150 on Monday. Extolling the virtues that Chicago possesses, Emanuel made the case that the city has the opportunity to become a preeminent global fintech center.
The Spread – There Goes the Sun – 3/18
Last year we filmed our FIA Boca edition of "The Spread" in a pool. However, we were at a different Airbnb this time, so you are not in for a repeat treat. The following are the stories referenced in this week's episode: -CME Group -> CME...
The Small Exchange: Building a new ecosystem for the little fish
It's about time this industry got smaller. It's no secret futures markets have been built largely for the average multinational commercial operation, well capitalized market markers, hedge funds, CTAs and proprietary trading groups. Retail...
Pardon our dust: Crypto markets still have some building to do
The institutionalization of the crypto market is going to take some time – be patient.
Panelists on the cryptocurrency panel at FIA Boca said there is still infrastructure building that needs to be done before the asset class becomes mainstream.
How Chris Giancarlo Helped The Futures Industry Get Its Groove Back
Chris Giancarlo will go down as perhaps the most popular regulator in industry history. The CFTC chairman, who will step down this year after joining the agency in January 2017, gave his farewell address at the FIA Boca conference this year with a focus on the agency’s achievements during his term.
Chinese Day Traders Manipulating US Markets
Chinese-based day traders are taking increasingly sophisticated steps to manipulate stocks traded on US markets, according to a surveillance firm executive.
Research and analysis conducted by Eventus Systems, a compliance, surveillance, and risk management firm, has detected regular instances of manipulation by Chinese-based traders trading predominantly Chinese companies listed on US stock exchanges.
China’s Night Traders Are Moving U.S. Stocks
Get a FREE 90 day trial of John Lothian Newsletter First Read Hits & Takes JLN Staff The JLN staff arrived safely in Boca Raton for the FIA International Conference at the Boca Resort. Our plans for renting a Chevrolet Suburban to transport...
New York’s New West Coast Digs
New trading floor just a part of NYSE's new San Francisco facility NYSE is set to have new digs in San Francisco when its NYSE West facility opens Monday, March 11. Obviously, New York is the area most thought of when it comes to all things...
The Spread – Wild West – 3/8
A judge’s comparison of FX options trading to the Wild West, MIAX’s news-making tear, and a little bit of Simon and Garfunkel awaits viewers of this week’s episode of “The Spread.” The following are stories referenced in this week's episode: -...
Open Outcry Traders History Project Announced by John Lothian
John J. Lothian & Company, Inc., MarketsWiki Education and John Lothian Productions are pleased to announce plans for a large scale video project to collect the history of the open outcry era and traders’ personal stories. Additionally, John Lothian Productions plans to develop video documentaries about specific themes and subjects emerging from the collected personal histories.
Robots Conquered Stock Markets. Now They’re Coming for Bonds and Currencies
Get a FREE 90 day trial of John Lothian Newsletter First Read Open Outcry Traders History Project Announced by John Lothian Large Scale Video Project Seeks to Capture the History of Open Outcry Traders and Era John J. Lothian & Company,...
Europe’s Dirty Money Scandals Highlight Absence of Credible Cops
Get a FREE 90 day trial of John Lothian Newsletter First Read Hits & Takes JLN Staff Just in time for Women's History Month, the FIA elevated two women in their organization to new heights. Jacqueline Mesa was named as Chief Operating Officer...
State Street brings Fearless Girl statue to London
Get a FREE 90 day trial of John Lothian Newsletter First Read Hits & Takes JLN Staff The new list of members of the FIA Futures Hall of Fame has been announced. The list includes Robert T. Cox, Paul Davies, Mitch R. Fulscher, Anthony George...
2018 MarketsWiki Education Series
our series of talks featuring top professionals from the financial industry aimed at students, interns and first year professionals.
The Chicago Ecosystem For Crypto Assets And Blockchain Technology – Colleen Sullivan, CMT Digital
"In order to have a healthy ecosystem for a new industry you really need four components. One is government involvement/regulatory clarity, two is academic institution involvement, three is trade associations and other advocacy...
Rules for CEOs, Senior Managers, Interns and Bob’s Kids – Bob Fitzsimmons, Wedbush
"Understand the implications, the ramifications of what you do - what it does downstream and what it does upstream. Understand the whole process." What do "Patton," "The Right Stuff" and "Goodfellas" have in common? They're all used...
The Growing Value of Data – Oliver Albers, Nasdaq
"When I started in this business, data was very, very uncool. Trust me." Data is not uncool any longer. Consider that every minute there are more than 12 million texts sent and more than 4.3 million YouTube videos watched. It is...
Lessons from My Crypto Career Risk – Tim McCourt, CME Group
"[In July 2000, my boss] said, 'Tim, tomorrow, you're going to start on the equity derivatives desk at JP Morgan.' I was like, 'Fantastic. I'm super excited.' I go home, no one really has a laptop, I got my first cell phone two...
Avoiding Spoofing Shortfalls – Renato Mariotti, Thompson Coburn
Renato Mariotti prosecuted Michael Coscia for spoofing as a federal prosecutor, ran for Illinois attorney general and can frequently be seen on cable television commenting on current events. So when he talks about spoofing and markets,...
Cognitive Flexibility in Finance – Kevin Darby, Blue Trading Systems
"Don't over-engineer it. There's a huge tendency, especially for technical people, to make up complexity." The problems Kevin Darby, managing partner at Blue Trading Systems, encounters as a fintech vendor are very different from...
Discussing “InfoSec” – Mike Phillips, VSEC
"How many small or medium business can survive a $3.5 million hit? When small and medium business get hit, they typically go out of business. When the big ones get hit, know what they do? They change their names." If it is connected...
