Posts written by Patrick Lothian

MWE SHORT: Joe Guinan – The Cycle of Life

MWE SHORT: Joe Guinan – The Cycle of Life

“It shocks me everyday at five o’clock when I see the race to the elevator, as if only the first few will make it out of the building. Just because you have to work till five at the beginning of your career, doesn't mean you can only work till five.” In this video...

MWE SHORT: Justin Schack – Making Modern Market Structure

MWE SHORT: Justin Schack – Making Modern Market Structure

“The whole point of Reg NMS was to deal with the 10 years of change that had already happened — that of course made things even more complex. And there are things about Regulation NMS that we’re dealing with today that some people find problematic. But it is not a new thing and it’s just another block in what I like to call the Jenga tower of market structure.”

MWE SHORT: Cathy Lyall – 30 Years of Change

MWE SHORT: Cathy Lyall – 30 Years of Change

Cathy Lyall’s first day in the markets was 1987’s Black Monday. She had planned on going into foreign affairs but snagged a job as a futures broker the Thursday before the crash from her boyfriend, a cash bond broker. She also signed her first mortgage in London the Friday before Lehman Brothers collapsed. Life events when synced with world events yield perspective.

MWE SHORT: Bill Harts – Modern Markets Initiative: How a Small Group of Traders Improved Markets for All

MWE SHORT: Bill Harts – Modern Markets Initiative: How a Small Group of Traders Improved Markets for All

“The most liquid stocks in the world used to trade at a minimum spread of one-eighth, but was quite often trading at a quarter spread. If you were an average retail investor buying 100 shares, you would have been paying an extra $25 for that stock, just in terms of the spread costs (putting commission aside). Today, that quarter spread is less than a penny.”

MWE SHORT: Walt Lukken – The New Normal and the Five Tips

MWE SHORT: Walt Lukken – The New Normal and the Five Tips

“We’re in a very exciting industry. Fundamentally, the demand for risk management in our financial markets to service the real economy is not going to disappear. It may change on the margins and people are going to leave the business, but it is going to be here and innovating for a long time to come.”

MWE SHORT: Tayloe Draughon – Futures Industry AI and Machine Learning

MWE SHORT: Tayloe Draughon – Futures Industry AI and Machine Learning

Recent advancements in technology have led to a monstrous spike in trades and trade messaging. Meanwhile, new regulations are requiring banks, brokers, dealers and futures commission merchants to not only store all of this new data, but also to conduct surveillance for trade infractions such as spoofing, layering or “banging the close.”

Patrick Lothian

Patrick Lothian

Head of Video Production

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Patrick Lothian is head of video production for John Lothian News and John Lothian Productions, both divisions of John J. Lothian & Company, Inc. He is also owner of True East Media, a freelance web design company.

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