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“Alex Perry's Optionstopia” takes a look at this week’s options news highlights: Crackdown on Crypto Ads; Biden Nominates William Brodsky; Greenwood Project Expanding Outreach | John Lothian News

“Alex Perry’s Optionstopia” takes a look at this week’s options news highlights: Crackdown on Crypto Ads; Biden Nominates William Brodsky; Greenwood Project Expanding Outreach

Alex Perry Author John Lothian News

ALEX PERRY

 Associate Editor

Alex Perry is an Associate Editor with John Lothian News with a primary portfolio of contributing to the options-centric video series The Spread and options related news.

Alex Perry’s Optionstopia 

“Alex Perry’s Optionstopia” takes a look at this week’s options news highlights: Crackdown on Crypto Ads; Biden Nominates William Brodsky; Greenwood Project Expanding Outreach

Options News Script

This week… The markets were closed for MLK Day, Regulators are cracking down on crypto ads, President Biden nominates William Brodsky, and the Greenwood Project is expanding its outreach.

This is Alex with John Lothian News, and this is your recap of options news from the week. Here’s some of the week’s top stories, starting with:

1– UK, Spain, Singapore to crack down on ‘misleading’ crypto ads as prices remain under pressure

Anna Golubova

https://www.kitco.com/news/2022-01-18/UK-Spain-Singapore-to-crack-down-on-misleading-crypto-ads-as-prices-remain-under-pressure.html

[Crypto] Regulators are cracking down on cryptocurrency advertisements across the globe to protect investors. Britain, Spain, and Singapore are some of the countries taking action to curb misleading advertisements. With the ever-growing popularity of cryptocurrency… comes increased ad campaigns, and regulators are wanting to ensure that the ads are also warning investors of the risks involved. Last week, celebrities Kim Kardashian, Floyd Mayweather, and others were sued for alleged cryptocurrency-related fraud, including making alleged misleading statements about EthereumMax through social media. In light of this, the news site Kitco reports that for any social media influencers in Spain, ads that can reach over 100,000 people should first be run by the country’s National Securities Market Commission (CNMV), which is Spain’s version of the SEC. Meanwhile, The Monetary Authority of Singapore will also set limitations for public ad appearances in newspapers and social media. As for the United Kingdom, Kitco says that the Finance Ministry will start holding crypto ads to the same regulatory levels…as stocks and insurance products

2– Biden nominates William Brodsky

William Brodsky, Nominee for Member of the Securities Investor Protection Corporation

In the midst of setting limitations, the U.S. government is casting nominations. This week, President Biden named former CEO of the CBOE and the CME William Brodsky as a nominee for Member of the Securities Investor Protection Corporation. Brodsky is currently the chairman of the company Options Solutions, a specialized asset management firm that uses option-based strategies. Not only is he chairman of Cedar Street Asset Management and a Trustee of Syracuse University…but he’s also Biden’s old law school classmate.

3– Exegy Announces Record Sales Growth in 2021

https://www.exegy.com/2022/01/exegy-sales-growth/

In other news, the financial service company Exegy saw lots of growth in the past year, as they reported an addition of “15 new clients in the fourth quarter, delivering 48% growth from Q3 and 55% revenue bookings growth compared to the same period last year.” JLN sat down with Exegy late last year to discuss the company’s merger with the software company, Vela Trading Systems.

4– MIAX Exchange Group Sets Multiple Volume and Market Share Records; MGEX Sets Annual Futures and Options Volume Records 

MIAX/ MGEX

/bit.ly/2EDZmG7

https://mgex.com/documents/MGEX2021Year-EndVolumeRelease.pdf

The MIAX Exchange Group also got in on the record-setting when it announced that it collectively traded 1.34 billion multi-listed options contracts in 2021,  a whopping 61.8% increase from 2020. The news doesn’t end there, because the Minneapolis Grain Exchange (MGEX) -which is also owned by MIAX- reported an options volume of over 123,000 contracts in 2021, which MGEX says is a 246% increase from 2020, and the highest annual volume total ever.

5– The Greenwood Project Partners with Citadel and Citadel Securities to Expand High School FinTech Program 

Greenwood Project

/prn.to/3A7JK6Q

Finally, the Chicago-based nonprofit The Greenwood Project is expanding its outreach, efforts, and partnerships after announcing a collaboration with Citadel and Citadel Securities this week. The nonprofit strives to help young students of color in their professional journeys by placing them in internships and other environments within the finance industry. PR Newswire says that the summer FinTech Institute will serve 60 high school students in 2022… while  “teaching financial literacy through coding with exposure to both the stock market as well as the coding languages Python and R.” Greenwood Project Scholars will work directly with Citadel and Citadel Securities teams to provide exposure to the Financial Technology sectors.

That’s all for now over here, but tune in for this week’s edition of John’s Take. Also, be sure to check out a previous “Options Term of the Week”, where TASTYTRADE’S JERMAL CHANDLER EXPLAINS WHY YOU SHOULD KEEP A CLOSE WATCH ON GAMMA.

 

THIS HAS BEEN ALEX PERRY FOR JLN. THANKS, AND WE’LL SEE YOU NEXT TIME. 

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THIS WEEK’S VIDEOS

John Vaile Saw the Potential of Financial Futures and Helped Make Them A Success

John Vaile Saw the Potential of Financial Futures and Helped Make Them A Success

John Vaile had an aunt who invested in the stock market who bought Vaile some stock when he was 10 years old and that experience caused him to want to be a stockbroker. As a result, Vaile became a student of the market.

He went to a couple of different colleges in Illinois, then ended up in a program at Wharton for students who did not graduate from college. 

Vaile was working for Morgan Stanley and living in Lake Geneva, WI, surrounded by friends in the futures markets and he wanted to get involved with what was happening. He said he badgered Morgan Stanley to get involved. They gave him permission, but he said he could see how long it would take for them to truly become involved and he did not have the patience for that.

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