JLN News
ICE Mortgage Fixed Rate Lock Index Futures Seek to Solve A Problem As Old As Interest Rate Futures
ICE is trying to solve a problem as old as interest rate futures, but is bringing to bear new resources and businesses it has acquired and grown over the last several years. That problem is how to hedge mortgage rates.
John Lothian News talked to David Farrell, chief operating officer of ICE Futures US, about ICE Mortgage Rate Lock Index futures, which are to launch on June 13, 2022, subject to regulatory approval.
Institutional Trading, Options Growth Among Q1 2022 Trends, say FIA Webinar Participants
The trend for the first quarter of 2022 is a revival of institutional trading – along with continued rapid growth in the options space, according to an FIA webinar Thursday morning hosted by Will Acworth, senior vice president of publications, data & research, FIA, with Morgan Stanley’s Reed Staub, executive director, head of US interest rate futures, and Erin Perzov, head of futures content.
Qontigo CEO Sebastian Ceria Talks ESG, Thematic Indices & The Future of the Indexing World
Qontigo’s chief executive officer Sebastian Ceria sat down with John Lothian News at FIA Boca 2022, where he discussed the inner workings of creating an index, Qontigo’s role in the ecosystem, and emerging trends within the industry.
Citadel Securities’ Troy Kane discusses the growth of retail trading, Citadel’s wade into Crypto, and its growth in Asian markets
Troy Kane got his start when he was 14 years old working on the trading floors of the Chicago Board of Trade for his mother’s company and clerking for locals. “My first job was to collect the trading cards every 15 minutes and tally up positions,” Kane said. “So if you were wrong, you were usually fired that day, so you better not be wrong. I did that every summer in high school and learned the business from the ground up.”
ICE’s Chris Edmonds Dishes on Risk, Messaging and Systemically Important Financial Institutions at Boca 2022
ICE’s Chris Edmonds took on an even bigger role at the exchange group in December when he was named chief development officer in addition to his role as head of clearing and risk for Intercontinental Exchange. He already had responsibility for six clearinghouses around the globe and was asked to add marketing and communications.
Eventus CEO Travis Schwab on Regulation, Transformation and Crypto at Boca 2022
Eventus Systems’ CEO Travis Schwab has been coming to the FIA conference in Boca Raton for 20 years and said it was great to be back to seeing clients in person again this year. Schwab spoke with John Lothian News at the conference about Eventus’ marketing, regulatory and volatility challenges, and the burgeoning crypto field.
John’s Take: Four New Women CFTC Commissioners Was More Historic Than I Thought
When four women were confirmed by the U.S. Senate for the U.S. Commodity Futures Trading Commission and it was heralded as a historic event, I decided to look into the history of the commission and the number of women who have served and who they served with. At no...
CFTC Chairman Rostin Behnam Gears Up for Full CFTC
Rostin Behnam had the advantage of being a CFTC commissioner since 2017 before being confirmed as chairman in December of 2021, giving him insight into the organization and good working relationships with its staffers.
JLN spoke to Behnam at the International Futures Industry Conference in Boca Raton, Fla., about the start of his chairmanship and what he hopes to accomplish.
John’s Take: Why I hate Chuck Mackie and Thoughts on FTX’s CFTC Request
I have a love/hate relationship with Chuck Mackie. I love him because he is a great guy, good citizen and cheerful practitioner of solving the world’s problems with market based solutions. I hate him because he really knows how to make me work, and work hard. Don’t worry, there are others on this list too (Hello Barbara).
On Thursday Chuck emailed me and asked when I was going to write a comment letter for the FTX request to the CFTC for LedgerX LLC, doing business as FTX US Derivatives, “to amend its order of registration as a DCO to allow it to modify its existing non-intermediated model.”
John Fildes’ Down Under View From FIA Boca 2022
John Lothian News interviewed John Fildes of Bain & Company, Inc. of Australia at FIA Boca 2022 about the crypto space, exchange consolidation, payment for order flow and his perspective from down under. Fildes, who was formerly the CEO of Chi-X Australia, is now the capital markets practice lead and expert partner with Bain & Company.
Fildes weighed in on Jump Trading and the wormhole hack, Citadel’s getting into crypto and the 24/7 nature of the crypto business and its impact.
Lukken Happy to Be Back at Boca; Hails Conference a Success
Walt Lukken was not the last interview JLN conducted during Boca, but he was the second to last. The JLN team interviewed the FIA president & CEO on the back patio of the Mizner Conference Center on the last day of the conference minutes before he offered his closing words.
All that was left of the conference was the golf and the closing cocktail party later, which, like the rest of the conference, would be moved indoors. We interviewed Lukken tucked under the arched portico of the conference center, as our regular interview space was being disassembled to ready the area for the next event.
Doug Engmann – Part Two – Open Outcry Traders History Project – John Lothian News
When Doug Engmann, chairman of Sage Brokerage Holdings, chose to expand his business to other exchanges, it was the late Jack Wing, Chairman Emeritus of Chicago Corporation, who helped him make the decision. Sage, unlike other clearing firms at the time, Engmann...
John’s Take – Hitesh Mittal of BestEx Research on Payment for Order Flow
This week comedian and TV star Jon Stewart shined a big bright light on the subject of payment for order flow in equities trading on an episode of his show, The Problem with Jon Stewart. While his take is always entertaining and sometimes impactful, I wanted to share with you another source that has also looked at the subject.
Hitesh Mittal and Kathryn Berkow of BestEx Research released a paper last year titled “The Good, The Bad & The Ugly of Payment for Order Flow” that looked at the impact of the practice on institutional investors.
The Trade’s New Editor Brings a World of Experience to the Job
Laurie McAughtry, the new editor of The Trade, had a plan for her education and career. She studied at all the right schools in the UK and U.S. and then took a job in banking. However, after getting married to a man who is half Malaysian and moving to Malaysia, she...
John McPartland – The History of Financial Futures – JLN
Longtime Banker Played Key Role During Early Days of IMM Currency Deliveries John McPartland joined Continental Bank in 1973 after leaving the Air Force. He worked two years in the internal audit department where he learned about secured financing. He was honing his...
LSEG to buy market data solutions provider MayStreet
First Read Hits & Takes John Lothian & JLN Staff The CFTC has assigned advisory committee sponsorships amid the commissions new commissioners. Commissioner Kristin N. Johnson will sponsor the Market Risk Advisory Committee; Commissioner Christy Goldsmith...
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The Spread
Cboe Completes Acquisition of ErisX; CME Group to Launch options on Micro WTI Crude Oil futures; Cboe FX Markets’ Trading Volume Drops
ALEX PERRY’S OPTIONSTOPIA: “Alex Perry’s Optionstopia” takes a look at this week’s options news highlights: Cboe Completes Acquisition of ErisX; CME Group to Launch options on Micro WTI Crude Oil futures; Cboe FX Markets’ Trading Volume Drops
TERM OF THE WEEK: Euronext presents “Options Term of the Week”. Exposure on The Full Underlying Value
Buying Calls Is New Stock Hedge for Traders Eyeing a Big Bounce
Observations & Insight FIA's International Derivatives Expo is returning to The Brewery in London this coming 6-8 June. Standing still is not an option in today's evolving cleared derivatives environment. Without adapting to new products, processes, technologies...
