JPMorgan Chase & Co. CEO Jamie Dimon remains an active naysayer on the subject of cryptocurrencies. He reportedly told CBS Boston last week that cryptocurrencies have no intrinsic value, and while people have a right to invest in them, he would stay out.
Timing is everything in the derivatives industry. In the case of IncubEx, which develops financial products in environmental, climate risk and related commodity markets, the company appears to be right on time.
In an interview with John Lothian News at FIA Expo, Dan Scarbrough, the founder, president and COO of IncubEx, described his start in the industry with the Chicago Climate Exchange more than 15 years ago. The Intercontinental Exchange bought the Chicago Climate Exchange and its parent company, the Climate Exchange, in 2010.
The intense market volatility seen during the beginning of the global pandemic, particularly in April and May, underscored both the interconnectedness of the markets and the fact that not every participant is at the same level, said Chris Edmonds, global head of closing and risk at the Intercontinental Exchange, Inc.
In a video interview with John Lothian News at FIA Expo 2021 following a roundtable on operational efficiencies, Edmonds said it became clear during COVID-19 and the abrupt move to working at home that more efficient ways to share information sooner are needed.
It was nearly a week after Trading Technologies announced it would be acquired by the private equity firm 7RIDGE, along with its limited partners Cboe Global Markets, Inc. and the Singapore Exchange, but the company’s top executives were still celebrating.
Interviewed together at the FIA Expo last week, Tim Geannopulos, chairman and CEO of Trading Technologies, and Keith Todd, incoming CEO of TT and current chairman and CEO of KRM22, were positively giddy with excitement about the deal.
The LSE Group today said it is developing a capital markets initiative to promote investment in global carbon mitigation projects. It plans to list funds that provide capital for projects that reduce greenhouse gas emissions and remove CO2 from the atmosphere.
Although the five speakers at a Thursday FIA Expo panel titled “Sustainability/ESG and Markets” agreed that the ESG sector is one of the biggest growth areas in the marketplace, they said it can be difficult to define exactly what ESG encompasses.
The “E” (for environmental) is self-evident, but the “social and governance components are much more challenging,” said Elizabeth Turner, Qontigo’s director of index product management.
In a keynote address at the FIA Expo on Wednesday, CFTC Commissioner Dawn Stump urged the industry, and regulators, to go back to the basics in their discussions of who should oversee digital assets and how they should be overseen before “engaging in a jurisdictional power-grab.”
“Out of a crisis comes innovation,” noted the moderator of a Wednesday FIA exchange leader panel, Jacqueline Mesa, who also is FIA chief operating officer and senior vice president of global policy.
She then asked the three panelists on the Wednesday FIA Expo panel, Terry Duffy, chairman and CEO of CME Group, Ed Tilly, chairman, CEO and president of Cboe Global Markets, and Jeff Sprecher, chairman and CEO of Intercontinental Exchange, what big trends came out of the pandemic.
It’s been two years since an in-person FIA Expo in Chicago and judging from the effusive mood of the crowd, there was a lot of pent-up demand.
Kicking off two days of panels and fireside chats on Wednesday was FIA President and CEO Walt Lukken, who noted that while the industry adapted and was highly productive during those gap years, “there are certain synergies and intangibles that can’t be replicated.”
-Texas regulators take a startling turn against delta-8
At first glance, the October PanXchange Hemp: Benchmark & Analysis report looks like more of the same when compared with September’s, but a closer look shows several issues have intensified: price pressures in the hemp biomass sector from newly harvested supply, the continued controversy over (and demand for) for delta-8 and the use of hemp in animal feed.
With the 26th U.N. Climate Change Conference set to start October 31 in Glasgow, headlines on climate change are front and center. Watch to see which countries agree to take concrete action on climate change and implement the Paris Agreement.
In confirmation hearings Wednesday, CFTC Acting Chairman Rostin Behman told the Senate Agriculture Committee that crypto sector misdeeds already cited by the CFTC are “the tip of the iceberg,” and the agency needs more oversight power.
Cboe Global Markets’ Dave Howson took over as EVP and president, Europe and Asia Pacific in January 2020, a time marked by the challenges of Brexit and shutdowns related to the global pandemic.
In the second part of a two-part video interview, Howson talks about the timing of the September 2021 debut of Cboe Europe Derivatives, Cboe’s EU-based derivatives exchange. Customers had been requesting that Cboe start one for years, especially after its acquisition of Bats in 2017, he said, but the pieces finally aligned this year with Cboe’s purchase of EuroCCP, its clearing house in Amsterdam.