Lead Stories

OCC eyes rebate cuts for members
Philip Stafford in Boca Raton – FT.com
The Options Clearing Corporation, which clears for all US options exchanges, is considering reducing the rebates it pays members as it examines ways to raise its working capital requirements to meet new rules.

ETF Money Back to Betting VIX Will Pop Higher
Chris Dieterich – The Wall Street Journal
While the Chicago Board Options Exchange Volatility Index remains low by historical standards even amid turmoil in Ukraine and worries about China, markets are seeing renewed interest in bets that volatility is likely to pop higher.

CBOE Announces April 10 Launch Date For CBOE Short-Term VIX Options With Weekly Expirations
Press Release
Chicago Board Options Exchange (CBOE) today announced that it plans to launch trading of options with weekly expirations on the CBOE Short-Term Volatility IndexSM (ticker symbol: VXSTSM) on Thursday, April 10, pending regulatory approval.

Low Volatility and Market Fear
Raul Elizalde  – Morningstar
After recent market gyrations, investors remain nervous, as if the market took a more serious hit than it did. Many think that another bout of weakness is around the corner. But one indicator – showing low market volatility – suggests that such fears are overblown.

Do You REALLY Want That 10% Correction?
Bob Lang – CBOE
Many have been calling or looking for that big drop as an opportunity to get on board.  But as we know, markets rarely accommodate, adding to the frustration of those who continue to miss out.  Of course, the longer term market trend has always been up (we’re talking since the beginning of time), but the trickier part is when to get in.  Market timers claim to have an advantage of jumping in/out at exactly the right time, but that has consistently proven wrong.  They will be right sometimes, but like a broken clock that is always right twice a day.

VIX Points to a Pause, Not a Correction
Sam Collins – InvestorPlace
A pause in the advance of small- and mid-cap stocks continued Tuesday. And the impact of the lesser-quality stocks has resulted in lower prices for the S&P 500 and even the Dow 30.
Trading was light, but the major indices headed lower early in the session following a decline in the price of copper. The metal is a gauge of how global industry is doing and is considered a barometer of the future health of industry.

OCC Announces Board Appointments and Nominations Adopts Governance Enhancements
Press Release
OCC announced today the appointment of new Board Officers and Board committee chairs for 2014:
Felix Davidson, President, TD Ameritrade Clearing, Inc., was appointed Member Vice Chair and Chair of OCC’s Performance Committee
Craig Donohue was reappointed OCC Executive Chairman
Michael Cahill was reappointed OCC President and Chief Executive Officer
Richard Lindsey was reappointed as Chair of OCC’s Risk Committee
Pat White was reappointed as Chair of OCC’s Audit Committee
Matthew Gelber was appointed as Chair of OCC’s Governance Committee

Options traders warm to energy stocks
Eric Lam, Bloomberg News
Expanding pipelines and railroads are helping Canada’s biggest energy companies get higher prices for oil, leaving bulls in command in the options market.

Videocast: Early March expiration

Meet the Best ETF Since the 2009 Market Bottom
Todd Shriber – ETF Trends
Since the March 9, 2009 market bottom, the S&P 500 has gained a tidy 181%. Some major mid- and small-cap exchange traded funds have more than tripled.
Forgive the baseball jargon, but hitting doubles and triples is certainly effective, but not as effective as collecting six bases. Or in the case of the Guggenheim S&P 500 Pure Value ETF (NYSEArca: RPV), rising 515% since March 10, 2009, according to Investor’s Business Daily.


Futures Options Markets: Ready, Set, Grow
Matt Simon – TabbFORUM
Futures options volumes are poised for steady growth as volatility, rising interest rates, and regulation drive demand for the products and electronification streamlines access to the market.

CBOE Plans To Invest In Tradelegs
Software uses proprietary analytics to assist institutional investors in developing options strategies
Press Release
CBOE Holdings, Inc. (NASDAQ: CBOE) announced today that it plans to invest in Tradelegs, the developer of advanced decision-support software that institutional investors can employ to optimize investment performance.

CBOE plans nearly non-stop VIX futures trading this year -CEO
CBOE Holdings Inc , operator of the largest options exchange by trading volume, will implement nearly non-stop trading for futures on the its Volatility Index by the end of the year to capture more Asian trading, its chief executive said on Wednesday.

Regulation and Enforcement

Chilton Says He’ll Leave U.S. Swaps Overseer Next Week
Silla Brush – Bloomberg
Bart Chilton says he’ll leave the U.S. Commodity Futures Trading Commission next week after almost seven years of pushing for limits on oil and natural gas speculation, as well as curbs on algorithmic and high-frequency trading.
Chilton, who said in November that he was planning to leave the derivatives regulator, said in an interview yesterday that he will leave the CFTC by March 22. He said he is writing a book titled “Theft” about the relationship of Wall Street and Washington.
***JB: Why didn’t Wall Street like this guy again?


Trading Technologies Introduces Next-Generation Trading Platform and Unveils New Brand Identity
Trading Technologies International, Inc. (TT), the independent provider of high-performance trading software to a wide spectrum of end users, unveiled its new software-as-a-service trading platform, which TT is calling Nextrader, and new brand identity at a press event at the 39th Annual International Futures Industry Conference.

NASDAQ OMX to Launch eSpeed-ITCH Data Feed
NASDAQ OMX will be introducing a new eSpeed-ITCH data feed in Mid- 2014. The eSpeed-ITCH feed will bring full depth, lower latency and better performance to the NASDAQ OMX eSpeed U.S. Treasury Market.
NASDAQ OMX will continue to offer the eSpeed Multicast and eSpeed API data feeds for the foreseeable future.


CBOE Seminar: Simply for Women
Who Should Attend:  Women investors
# of Days: .5
Time:      9:00am-12:00pm CT
Phone: 1-877-THE-CBOE
Price:     $149.00
Do you want to learn the basics of options trading, but you’re not exactly sure where to begin?
Simply for Women is the next step in CBOE’s program series for women with leading professionals in the financial industry. Designed as a half-day seminar by The Options Institute at CBOE, Simply for Women will help you understand the basic concepts of options.

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