When he was young, Kenny Polcari wanted to be in politics – preferably to eventually be president of the United States. But, he said, “Thank God none of that came true.”
When he was 19, he interned on the floor of the New York Stock Exchange. He knew nothing about the business and was from Boston rather than New York. At first he thought, “Who wants to move to New York City in the summer as a 19 year old kid?” He was going to go back to Cape Cod and be a lifeguard. But he thought about it and did his homework and said, “What’s the worst that can happen?”
FIA Tech is trying to solve a problem for options brokers with a solution that’s worked for futures brokers and exchange-traded derivatives. That problem is improving the efficiency of give-ups and take-ins reconciliation, settlement and payments.
In July, FIA Tech announced the expansion of its Atlantis service to help options brokers settle give-up trades faster and get paid sooner, while freeing up human resources thrown at this complex problem. One hundred million contracts a month are processed via Atlantis, which is expanding into options in a two-part process.
– Equity options volatility ebbs as markets resume rally, fixated on upbeat earnings;
– John’s Take looks at FIA Tech’s expanded Atlantis service for options brokers;
– Why use Covered Calls? The options Term of the Week with Jermal Chandler.
Investor interest in sustainable investments is expanding rapidly. A survey of 179 global asset owners published by FTSE Russell on October 7 found that more than 84% are implementing or evaluating sustainable investments in 2021, up from 53% in 2018. But with uniform criteria of those investments’ “green” attributes a work in progress, CME Group has jumped into the fray with its Sustainable Clearing Project.
The index business is dominated by three big companies: Dow Jones Indexes, FTSE Russell, and MSCI; but there is a Chicago index company that has big plans to advance and scale up its business to bring more value to index clients and leave more money in the pockets of investors. Former FTSE Russell executive and now Morningstar Indexes Managing Director Ron Bundy is charged with the evolution and growth of Morningstar Indexes.
SGX learned much from the experience a year ago when their equity index products switched from MSCI to FTSE Russell. Those lessons are being utilized as they contemplate growing their equity index offerings by increasing the number of stocks in the A50.
“I know how to game this stuff.” “One can definitely manipulate if you’re aggressive.” “If you spoof this it really moves.” These excerpts from online chats among traders and hedge fund managers more than a decade ago played a key role in the Justice Department’s successful prosecution of two Wall Street traders in the latest trial to take on ”spoofing,” a form of market manipulation that was criminalized in the 2010 Dodd-Frank Act.
In an interview Wednesday at the 88th Annual Security Traders Association Conference, SEC Commissioner Allison Herren Lee said she appreciated Gary Gensler, who testified Tuesday at the House Financial Services Committee oversight hearing, for “rolling up his sleeves” to address the complex issues facing the financial industry, such as payment for order flow (PFOF) and exchange for rebates.
https://vimeo.com/619128176 Gordon Bennett, the U.K.-based managing director of utility markets at the Intercontinental Exchange, recently sat down with John Lothian to talk about ESG initiatives, including pricing the cost of carbon and...
Although market competition and structure are hot topics in the securities industry, a Wednesday fireside chat at the STA 2021 conference on the competitive landscape between brokers and exchanges with Jonathan Kellner, CEO of MEMEX, and Joe Mecane, head of execution services at Citadel Securities, focused more on agreement than on discord.
Mid-range prices of hemp biomass were bobbing in a sea of red in the September PanXchange Hemp: Benchmark & Analysis report, but the exchange said it was standing by its forecast that prices for “quality 2021” biomass will rally after the current harvest.
– Stock market volatility continues to chug higher; Energy prices are hot;
– John’s Take walks us through the CFTC’s filing against 14 crypto options businesses;
– A timely look at the VVIX, the volatility of volatility with Russell Rhoads in the Term of the Week.
Environmental markets are “transitioning to an asset class in their own right,“ said Gordon Bennett, managing director of utility markets for ICE and a panelist at a FIA IDX’s Tuesday presentation, “Exchanges and the Roll Out of New Sustainability Products.”
“They’ve changed a lot in the last two to three years” and are not just about carbon markets anymore, Bennett said. “Clearly, more people are getting involved” in ESG-related markets, Bennett added, noting that data in the CFTC’s Commitments of Traders Reports are starting to reflect a wider diversity of market participants.
The FIA’s IDX panel of executives from U.S. and EU derivatives exchanges on Tuesday quickly turned to a discussion of meeting the challenges of several of the new products currently demanded by investors and traders.
With the U.K. and EU having recently separated, concerns about cross-border equivalence for trading and clearing venues have come to the fore. The clock is ticking down, since a temporary 18-month equivalence for U.K. clearing houses will end in June 2022. People are worried that the European Commission in Brussels may try to force banks to move all clearing of euro-denominated derivatives from London to the Eurozone, which would be too much for EU clearing houses to process.
First Read $53,806/$300,000 (17.9%) ++++ FIA Tech's Atlantis Ready for More Options Brokers John Lothian - John Lothian News Give-up Settlement and Payment System Improves Efficiency, Speeds up Payments FIA Tech is trying to solve a problem for options brokers with a...
Observations & Insight FIA Tech's Atlantis Ready for More Options Brokers John Lothian - John Lothian News Give-up Settlement and Payment System Improves Efficiency, Speeds up Payments FIA Tech is trying to solve a problem for options brokers with a solution...