JLN Options: CBOE May Retire From Police Beat

Apr 23, 2013

Lead Stories CBOE May Retire From Police Beat  
Jacob Bunge, The Wall Street Journal
The 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 Hacked
Brendan Conway, Barron’s
The 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 Participants
Matthew Leising, Bloomberg
CME Group Inc. (CME), the world’s largest futures exchange, mistakenly disclosed energy and agricultural swap trade details to market participants, the company said.
http://jlne.ws/15EHAcS VIX Continues Its Retreat
Wall Street Sector Selector
The VIX resumed its decline on Monday.  Friday was a bad day for the VIX after it hit 18.20 on Thursday.  Monday’s high of 16.00 was not much better than Friday’s low of 14.87 and it continues to close in on its 50-day moving average of 13.71.
http://jlne.ws/15ELwtW  OPTIONS REPORT: Raymond James Grabs 12 from Knight
Peter Chapman, Traders Magazine
Raymond James has hired away a dozen options traders and salespeople from Knight Capital Group in a bid to break into the institutional options trading business.
http://jlne.ws/15EIPsw Yuan options business picking up: FX heads
Anirban Nag, Nia Williams and Jessica Mortimer, Reuters
The options business in the Chinese offshore yuan market is picking up significantly as China lets its currency trade more freely, global heads of foreign exchange said on Monday.
http://jlne.ws/15EI8iX Trading Volume Raises Concerns  
Steven Russolillo, The Wall Street Journal
Add trading volume to the growing list of evidence suggesting the market’s rally has run its course.
http://jlne.ws/15EL4fn Exchange order types prompt fears of HFT conspiracy
Laurie Carver, Risk Magazine
High-frequency traders have been viewed with suspicion for some time. Now critics claim exchanges are conspiring with the traders to develop tools that benefit them and disadvantage ordinary investors. Is the threat real?


ICE Gets Cold Feet on Swaps Clearing
Tom Steinert-Threlkeld, Traders Magazine
Intercontinental Exchange is delaying plans to clear foreign exchange swaps. Citigroup named James Bibbey to be its head of electronic foreign exchange services. Tradition has launched a new foreign exchange trading system called ParFX. Standard Chartered has promoted Chris Allington to be its global head of foreign exchange trading.
http://jlne.ws/15EIhCR Liffe Sues Dutch Options Market TOM Over AEX Products
Nandini Sukumar & Cecile Vannucci, Bloomberg
NYSE Euronext (NYX)’s Liffe derivatives market sued The Order Machine, saying the Dutch alternative trading system that’s 25 percent owned by Nasdaq OMX Group Inc. (NDAQ) introduced equity-index options without a license.


Strategies for the S&P and VIX
Jared Woodard, The Street
From early March through last Friday, there were really only a few ways to make any profits in the S&P 500 Index (SPX), and looking at which strategies have been working gives us a good sense for the character of this market. First, let’s take a look at price action over this period. SPX went basically nowhere:

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