Before the FTX implosion, FTX had created quite a regulatory stir in the futures industry with a proposal before the CFTC for a clearing model that eliminated the need for FCMs. Abaxx Exchange Chief Commercial Officer Joe Raia has been outspoken in his support for FCMs. John Lothian News caught up with Raia at the recent FIA EXPO 2022 in Chicago to discuss his views.
John Palmer is the head of Cboe Digital, the rebranded ErisX. JLN caught up with Palmer at the recent FIA EXPO 2022 in Chicago to ask him about Cboe Digital and the general state of the crypto markets and industry, which were rocked by the implosion of FTX and related companies.
JLN interviewed Contango CEO Clive Furness at FIA EXPO 2022 about the innovative new way to hedge commodities that he recently released in a white paper, to which he gave the moniker “The Contango Hedge.”
2022 is the 50th anniversary of financial futures and the birth of the modern exchange traded derivatives markets. In this video, John Lothian News discusses the birth of the financial futures industry in 1972 and how it has evolved into a market that traded $53.9 billion contracts this year.
Trading of futures and options is on track to a record year, with higher levels of trading activity in many sectors, notably interest rate and equity index contracts, according to the FIA’s Will Acworth, who went over the volume numbers for the first nine months of 2022 in a FIA webinar titled, “Q3 2022 Trends in Futures and Options Trading” Wednesday.
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.
Rosenblatt Securities held its Global Exchange Leader Conference this past September, and John Lothian News spoke with Justin Schack, managing director and partner at Rosenblatt Securities, about who attended, what the big topics were and what was different about the conference in 2022.
No, at Abaxx Exchange we don’t believe the era of the traditional FCM model is coming to an end, nor should it be. However, the recent Risk.net article “Brokers slam CME over ‘conflict of interest’ in FCM plan’ made us realize that not everyone may feel the same way, and we need to make our case for the raditional FCM model.
Some exchange groups ranging from the largest that date back more than a century to the digital asset focused upstarts have asserted that risk mutualization processes — currently favored and handled by FCMs — can and should be disintermediated.
In Part Two of Otto Nageli’s interview with JLN for the History of Financial Futures series, Nageli talked about the part DTB, the forerunner of Eurex, played in repatriating the bund contract and the establishment of Eurex.
In part two of the interview with Wolfgang Eholzer for The History of Financial Futures video series from John Lothian News and MarketsWiki Education, Eholzer explains where the names of Eurex’s trade matching engine and other technology came from. Eurex wanted a short name that could be easily copyrighted and easily reproduced for other products.
In 1997, Wolfgang Eholzer decided there were not enough students studying physics and mathematics in Germany to make a career in academia and that maybe finding a job would be a good thing. The question was where was there enough going on. That question led him to Deutsche Boerse, which was starting a new electronic derivatives exchange and hiring like mad. He has been there since.