Lead Stories

The Others and the VXEEM
Andrew Giovinazzi – The Options Insider
The EEM has been in the dustbin since mid-spring when the first hints went down that the Fed might take the foot off the gas pedal.  Mechanical Panic ensued.  I wrote about it in late June and I think it is time to take another look.  Why do you ask?  Well timing and opportunity and lower IV.

Land Mines in the Derivatives ‘Path Forward’  
Hal Scott – The Wall Street Journal
The U.S. and EU will coordinate trading rules, but the clearinghouses are a potential danger.

Global Execution Brokers joins Fidessa community
Automated Traders
Fidessa group has announced that Global Execution Brokers, a member of the Susquehanna International Group of Companies, has joined the Fidessa community to offer options execution capabilities to its members. This means that all 750 brokers on the Fidessa network can now route order flow to Susquehanna directly through their existing Fidessa connection.

Videocast: VIX settles tomorrow

On Wall Street, a Culture of Greed Won’t Let Go
Andrew Ross Sorkin – Dealbook
Ethics. Values. Integrity.
Wall Street firms spend a lot of time using those catchwords when talking about developing the right culture.

R.J. O’Brien Further Expands Chicago Institutional Brokerage Operation
Press Release (R.J. O’Brien)
R.J. O’Brien & Associates (RJO), the oldest and largest independent futures brokerage and clearing firm in the United States, announced that the firm has set the stage for further expansion of its Chicago institutional brokerage operation.


Tokyo Exchange Merges With Osaka to Form World’s No. 3
Masaaki Iwamoto and Toshiro Hasegawa – BloombergBusinessweek
The Tokyo Stock Exchange (TPX) became the world’s third-biggest bourse by listed companies today, adding 1,100 stocks from the Osaka Securities Exchange as the two merged their cash-equity trading platforms.

Overnight futures trading suspended due to system failure
Kang Yoon-seung – Global Post
South Korea’s overnight futures market closed two hours earlier than usual due to a system failure, the bourse operator said Tuesday.

SGX launches ‘Born to Trade’ initiative
Automated Trader
Singapore Exchange has launched its “Born to Trade” initiative. Intended to support the futures trading profession and expand its community, the initiative also highlights the contributions of former and current traders towards the development of the Singapore derivatives market.


The “F” Word; Fiction vs. Futures  
Former CFTC chairman Philip McBride Johnson on why swap market participants should have been more careful in their early lobbying on Dodd-Frank.

CME wants out of U.S. SEC’s plan to reduce trading glitches
Sarah N. Lynch – Reuters
CME Group Inc, the world’s largest futures exchange, is asking U.S. securities regulators to be excluded from proposed rules that would require exchanges and clearing agencies to conduct testing and be better prepared to handle trading glitches or natural disasters.

Glass-Steagall II: If It’s Not Fixed, Break It
Jeff Macke – Yahoo Finance
Mega-banks have a grotesque amount of control over the financial system and no real control over themselves. As evidenced by the mortgage meltdown, the London Whale and far too many near-crisis events to count, America and indeed the entire world would be well-served by the enforcement of coherent and practicable regulations.

Ex-RP Martin Brokers Farr, Gilmour Charged in Libor Probe
Lindsay Fortado – Bloomberg
Two former RP Martin Holdings Ltd. employees in London today became the first brokers to face criminal prosecution in the global probe into manipulation of the London interbank offered rate. 


OpenGamma upgrades platform
Press Release (via FinExtra)
OpenGamma, creators of the first open-source analytics and risk management platform for the financial services industry, today announced availability of the OpenGamma Platform 2.0.

Options Education

How to Spot Risk Early
Bill Luby – Barron’s
Market volatility often first appears halfway around the globe—here’s how to use it as an early warning signal or even as a profitable ETF trade.

Taking the Temperature of Weather Futures
Adam Warner – Schaeffer’s Investment Research
Tired of trading the same old, same old? I’m watching Bloomberg yesterday and they have a feature on something I can’t say I’ve ever heard of: weather futures.
I’m clearly behind the times. Weather futures have apparently traded over-the-counter forever, and in various forms on the CME since 1999. And they have options, too!

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