Observations & Insight

Katie Burgoon, Trading Technologies – Gone But Not Forgotten: How The Floor Trader Mentality Can Prepare Everyone For Success
JohnLothianNews.com

“You would never have met a floor trader who did not live and breathe the markets every day. They literally could not wait for the alarm clock to go off every morning.”

Though the open outcry system of order execution has been relegated (mostly) to the history books, the trading floor mentality lives on in the hearts and minds of the thousands of former floor participants. And any one of them would say that the things that defined a floor trader – passion, a strong voice and even a confident swagger – can prepare anyone for a successful career. Katie Burgoon, who spent many years on the Chicago Board of Trade floor, now sits on the other side of the hiring line in her role as VP of global human resources at Trading Technologies. She says that, regardless of gender, years of service or role within a company, one should aim to channel the inner floor trader to find success.

Watch the video at MarketsWikiEducation.com »

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ALTSO Event Rocks City Winery
JLN Staff
There was much fun to be had at last night’s Rocktoberfest at City Winery, benefitting A Leg To Stand On, a non-profit organization that provides free orthopedic care to children with limb disabilities in the developing world. Industry players became guitar and saxophone players in a great lineup of bands that belted out classic rock and roll to a packed house and a full dance floor. ALTSO also raised money by auctioning off a variety of items, including autographed posters and baseball memorabilia as well as dream vacations. It was a great event for a great cause. Thanks to the co-chairs of the Chicago event, Chuck Mackie, Ray McKenzie and Michelle Giunti.

Lead Stories

All-Night News Cycle Turns Up Stress on U.S. Megacap Stocks
Dani Burger – Bloomberg
While the U.S. sleeps, anxiety levels are rising for the biggest U.S. stocks.
Thanks to an almost doubling in volatility from 2014, shares in the Standard & Poor’s 500 Index are swinging more during off hours than their small-cap brethren for the first time in at least 15 years. Data compiled by Credit Suisse Group AG measured the difference in price between when exchanges close at 4 p.m. in New York and reopen the next day at 9:30 a.m.
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Why it’s all downhill for traders after 30
Paul Clarke – efinancialcareers
Trading is a young man’s game. At UBS, most people on the trading floor are under 30, and this is making CEO Andrea Orcel nervous. All the central figures spectacular recent scandals – rogue traders, flash crashes, Libor fixing – have been men in the comparatively early stages of their career.
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STOXX launches new indexes to capture volatility of VSTOXX indices
Mike Fox – LeapRate
STOXX Limited, a leading provider of innovative, tradable and global index concepts, today announced the launch of the V-VSTOXX indices, which measure the implied volatility of the corresponding VSTOXX indices.
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Oklahoma Earthquakes Are a National Security Threat
Matthew Philips – Bloomberg
In the months after Sept. 11, 2001, as U.S. security officials assessed the top targets for potential terrorist attacks, the small town of Cushing, Okla., received special attention. Even though it is home to fewer than 10,000 people, Cushing is the largest commercial oil storage hub in North America, second only in size to the U.S. government’s Strategic Petroleum Reserve. The small town’s giant tanks, some big enough to fit a Boeing 747 jet inside, were filled with around 10 million barrels of crude at the time, an obvious target for someone looking to disrupt America’s economy and energy supply.
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Exchanges

Opening Up Of Middle East Markets At Mondo Visione Exchange Forum 2015
Press Release
For the first time, chief executives of leading Middle East exchanges are coming together to discuss foreign investment opportunities, at the Mondo Visione Exchange Forum 2015.
Tuncay Dinç, Chief Executive Officer, Borsa Istanbul will also address the key exchanges and trading conference, about developments in Turkish markets and the preparations for a successful public listing of Borsa Istanbul in 2016. The Mondo Visione Exchange Forum is taking place on Thursday 12 November at the Barber Surgeon’s Hall in London.
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Russell Investments contributes to LSE Group’s strong third quarter results
Digitallook.com
The London Stock Exchange Group has seen an 85% jump in revenue for the third quarter, driven by income from Russell Investment Management
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DGCX Collaborates With Pakistan Mercantile Exchange Ltd.
Press Release
The Dubai Gold & Commodities Exchange (DGCX), UAE’s leading derivatives bourse, and the Pakistan Mercantile Exchange Limited (PMEX), a pre-eminent derivatives exchange in Pakistan, today announced that they have agreed to create a forum to work together, share information, and bridge connections between the financial markets of Pakistan and UAE.
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Dalian Commodity Exchange And Borsa Istanbul Sign MoU
Press Release
Dalian Commodity Exchange (DCE) and Borsa Istanbul signed a memorandum of understanding (MoU) on October 23 in Istanbul, Turkey, with an aim to seek to cooperate in information sharing, product promotion and staff exchange.
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Regulation & Enforcement

CFTC to finish position limits rule in 2016, Massad says
Alexander Osipovich – Risk.net (Subscription)
Controversial rule on commodity derivatives set to miss year-end target A long-awaited rule from the US Commodity Futures Trading Commission (CFTC) that would impose speculative position limits on commodity derivatives will not be ready this year.
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Technology

How humans can wrest control of the markets back from computers
Gillian Tett – Financial Times
Investors have had plenty of reasons to worry about oil prices this year. Now there is another: Timothy Massad, chairman of the US Commodity Futures Trading Commission, revealed on Wednesday that there have been 35 bizarre “flash crashes” in American oil markets this year.
Yes, you read that right: according to CFTC researchers, on three dozen occasions prices for West Texas Intermediate crude have gyrated so dramatically that they have been defined as flash crashes. This means prices swung 200 basis points in less than an hour, before recovering at least 75 basis points.
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Wall Street Awaits Big Data’s Big Payoff
marketsmedia.com
Capital markets may lead other sectors in low-latency network messaging, but they are laggards in leveraging ‘big data’ analysis.
“Retailers are light years ahead of Wall Street in analyzing their data to find out what their customers want,” said to Peter Giordano, managing director at Oppenheimer & Co. “Instead of analyzing customer data, the industry still relies on salespeople, relationships and actual trades to tell us what clients want.”
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Continuum Extends Connectivity Provision to MarketDelta Cloud
Jeff Patterson – Finance Magnates
Continuum, CQG’s enterprise API division, has launched a strategic partnership with MarketDelta to help bolster the group’s trading and order management application, MarketDelta Cloud, according to a Continuum statement.
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Euronext to tap Portugal, equity indices with AtomX
Alice Attwood – Futures & Options World
European exchange Euronext said it is set to launch its new AtomX service in Portugal next year and is already eyeing new markets for the technology, including equities indices, ahead of its Monday launch for the system.
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Strategy

How to Trade on U.K. Exit from EU Stress Before Market Tunes In
Simon Kennedy – Bloomberg
It’s not too soon for investors to take out insurance against the U.K. fleeing the European Union.
As Commerzbank AG to UBS Group AG advise clients to pay more attention to the so-called Brexit debate and warn sterling may eventually slide when talks heat up, Royal Bank of Scotland Group Plc is going one step further.
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The Pitfalls of Mobile Trading
Thomas H. Kee Jr – Stock Traders Daily
Connected handheld devices have brought a degree of flexibility to the investment community; we are now able to place trades from virtually anywhere in the world, by simply using our phone. That power is awesome, and I certainly appreciate it too, but some investors have pushed it too far.
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High Dividend ETFs That Help Limit Volatility
Tom Lydon – ETF Trends
After the recent market swings, many are wary of volatility ahead. Nevertheless, investors who still want high dividends but are also concerned about ongoing risks may turn to low-volatility, high dividend ETF strategies.
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Education

The Commodities Boom Is Dead. Long Live the Commodities Boom.
David Fickling – Bloomberg
What’s going on with BHP Billiton? The world’s biggest miner bid for a share in a Chilean copper mine this year and is exploring for offshore petroleum in Australia and the Gulf of Mexico. Isn’t the commodities super-cycle meant to be over?
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Events

Space is filling up – register today for FIA Expo 2015!
With over 30 sessions and 100 speakers, FIA Expo 2015 covers all aspects of current industry trends today and where the industry is headed tomorrow.
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