First Read

CNBC Debate Stills NYSE Trading Floor
By John J. Lothian

The best financial news television in years happened yesterday on CNBC when author Michael Lewis, IEX’s Brad Katsuyama and BATS’ Bill O’Brien faced off in a hexabox along with Bob Pisani, Tyler Mathisen and Sue Herera.

O’Brien was aggressive and combative in his manner, taking exception to Katsuyama and Lewis saying the U.S. equities markets were “rigged.” O’Brien ripped apart Lewis’ contention that he had visited BATS on February 5, 2013, asking, “Were you in Kansas City? Because that is where we are located.”

Lewis said he had visited the BATS data center in New York. O’Brien said he did not talk to anyone at BATS. Lewis said he had wanted to talk to BATS founder Dave Cummings. Pisani later reported that he had been messaged by Cummings and that Cummings had never talked to Lewis.

You get the picture.

For the rest of the commentary, go to: http://jlne.ws/1ebVtzo

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Exchange CEO Series – Big Crowd: ISE’s Gary Katz says crowded options field to get larger
JohnLothianNews.com

In the derivatives space, there has been a consolidation or a proliferation of exchanges, depending on how you see it.

While the number of futures exchanges in the US has shrunk to two major players, International Securities Exchange president and CEO Gary Katz has seen the opposite happen in the US options marketplace. And there is good reason for it.

Watch the video »

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Flash Boys Recap

‘Shame on You’ Is Bats Executive’s Rebuttal of Michael Lewis
By Nick Baker and Matthew Leising
Bloomberg
Author Michael Lewis’s argument that U.S. stock trading is rigged reflects a misunderstanding of how the market operates and its history, said Bill O’Brien, the president of exchange operator Bats Global Markets Inc.
jlne.ws/1hzH5p6

***** Bill O’Brien was right to say this to Katsuyama.

Did Someone Front Run Michael Lewis?
By STEVEN M. SEARS | MORE ARTICLES BY AUTHOR
Unusual trading in shares of the Nasdaq suggests investors foresaw “Flash Boys” controversy.
The new Michael Lewis book, Flash Boys, focuses on high-frequency trading, which, Lewis contends, amounts to high-tech front running. Unusual action in the options market late last week suggests a bit of trading ahead of the 60 Minutes segment that effectively launched Lewis’ book.
jlne.ws/1ebN2nM

***** Of course someone did. If they had time to shoot and edit the 60 minutes piece, I am sure there were lots of people who knew about this.

Highlights from the Brawl Over High-Frequency Trading
By Steven Russolillo
WSJ
The manic debate over high-speed trading and “rigged” markets jumped to yet another level Tuesday afternoon. Brad Katsuyama, president and CEO of upstart trading platform IEX Group and a prominent figure in Michael Lewis’s new book, “Flash Boys,” duked it out in a 23-minute interview on CNBC with William O’Brien, president of exchange operator BATS, with Mr. Lewis himself weighing in from another set.
jlne.ws/1dR45k9

***** If you have not wached it, go to http://jlne.ws/1fMGXi0 to see the whole 23 minute debate.

What Michael Lewis Gets Wrong About High-Frequency Trading
By Matthew Philips
Bloomberg
Michael Lewis spent the first half of Tuesday promoting his book about high-frequency trading on NBC. In the morning, he went on NBC’s Today show. By midday he was on CNBC, taking in part in a battle royal over the merits of HFT. Lewis’s TV publicity tour started on Sunday night with an appearance on 60 Minutes.
jlne.ws/1i1YVgS

***** How many articles like this will we see?

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FBI Seeks Help From High-Frequency Traders to Find Abuses
By Keri Geiger and Patricia Hurtado
Bloomberg
Federal agents are making an unusual public plea for the financial industry to bare its secrets. The Federal Bureau of Investigation has openly solicited traders and stock-exchange workers to blow the whistle on possible front-running and manipulation via high-speed computers.
jlne.ws/1lmYstP

****** That smoke the FBI sees and thinks is coming from a fire is just a bunch of hot air.

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Billy Salomon Turns 100 as Flash Trades Replace Handshake
By Dakin Campbell
Bloomberg
When William “Billy” Salomon started on Wall Street more than 80 years ago at his family firm, trades were often closed with a gentleman’s clasp. Now, with computers completing transactions in microseconds, he says the industry is worse off.
jlne.ws/1opA5Am

***** The handshake worked in earlier more simple times.

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Chris’s Royal Parks Half Marathon 2014 page
The FT’s Chris Adams is running a half marathon for World Child Cancer because it’s a great cause and he loves running in the parks
jlne.ws/Phvwbl

***** I have contributed. Please consider supporting this FT reporter’s charitable efforts.

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Trading Technologies got me yesterday with their PITT trading video
jlne.ws/Ob8134

***** Lesson learned. Don’t retweet without first watching the video. Second lesson learned: beware of sneaky PR people on April 1.

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‘Social Finance’: Doing Good by Doing Well
By Chris Farrell
Bloomberg
Americans celebrate innovation, a term that the dictionary says stems from the Latin verb innovare—to “make new.” We all sense that a wave of innovations—mobile internet, robots, artificial intelligence, driverless cars—will transform the way we live and work. Innovators are admired for their game-changing insights that upend old ways of doing business, and create economic opportunities.
jlne.ws/1ksaL6Y

***** Doing Good by Doing Well should be the motto for our times.

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OCC Statement on Fee Increase
Effective April 1, 2014, OCC eliminated its discounted fee schedule and returned to its previously approved fee schedule. This action was unanimously approved by OCC’s Board of Directors at its March meeting in order to provide OCC with the additional resources necessary to meet heightened regulatory requirements. OCC’s management and Board will closely monitor performance during the remainder of the year and the Board will determine prior to year-end whether to modify or suspend OCC’s refund policy. Throughout OCC’s 40 years of operation, OCC has routinely refunded fees paid in excess of operating expenses and surplus requirements. It is anticipated that any refund for 2014 would likely be significantly lower. The Board and OCC management will also continue to evaluate projected expenses and surplus requirements and determine, prior to year-end, a fee schedule for 2015. Please note the previously approved 2013 refund will not be affected by these changes and will be paid prior to September 15, 2014.
To see the OCC fee schedule, go to http://jlne.ws/1oq0G0c

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JLN/MarketsWiki 2014 Annual Survey – Please Give us 30 Seconds of Your Time
John Lothian News
You still have time to fill out our quick demographic survey and get in the running for your choice of an iPad Mini or a pair of Bose Quiet Comfort Noise-Canceling Headphones. The cost is a mere 30 seconds of your time. Answers will be kept confidential.
jlne.ws/1bOrYYC

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Exchange CEO Series – Singaporean shift: SGX’s Magnus Böcker says region is primed for growth
JohnLothianNews.com
SGX CEO Magnus Böcker has seen tremendous growth at his exchange over the past year and the Singapore market is poised to expand further in the coming year.

Bocker, who sat down with JLN editor-in-chief Jim Kharouf at the FIA Boca Conference this month, said SGX has increased its derivatives volume 40 percent in 2013 and is exploring a host of new partnerships and initiating new product launches.

Watch the video »

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MarketsWiki

MarketsWiki Page of the Day
Michael Lewis

MarketsWiki Recent Updates

People

William O’Brien; Satish Nandapurkar; Yesenia Duran; Bradley Katsuyama; Rachel Koning Beals; Eric Schneiderman

Companies, Organizations and Groups

BATS Global Markets; Sentinel Management Group; Virtu Financial LLC; CME Group, Inc.

Miscellaneous

High Frequency Trading

Statistics

Page views: 47,986,922, Pages: 20,436, Articles: 7,906, Edits: 181,429
MarketsWiki Statistics

Lead Stories

Virtu Financial delays IPO amid Flash Boys furore
By Arash Massoudi in New York, FT
Virtu Financial, a high-frequency trading company, has delayed a planned US initial public offering after its bankers advised it to hold fire as this week’s publication of Flash Boys thrust the business of lightning fast trading into the spotlight.
jlne.ws/PhLC4Y

Virtu Said to Delay IPO Amid Furor Spurred by Michael Lewis Book
By Leslie Picker and Sam Mamudi
Bloomberg
Virtu Financial Inc., the high-frequency trader that announced plans last month to sell shares, has delayed the deal, two people with knowledge of the matter said.
jlne.ws/1hhbKD1

Deutsche Börse’s Clearstream arm faces US criminal probe
By Philip Stafford in London
Deutsche Börse’s Clearstream Banking unit is facing a US criminal investigation over alleged violations of money laundering laws and sanctions against Iran.
jlne.ws/1pKr6XH

ICAP chief sees customer base shift as regulation hits revenues
By Philip Stafford, FT
ICAP, the world’s largest interdealer broker, said more fund managers were becoming its customers as financial regulation creates what Michael Spencer, chief executive, called “a permanent change in the industrial landscape”.
jlne.ws/1lBQtfe

End of Goldman era on the NYSE floor
By Arash Massoudi and Tracy Alloway in New York
FT.com
Goldman Sachs is leaving the floor of the New York Stock Exchange. The investment bank, whose history has been intertwined with that of the downtown Manhattan exchange since 1896, is in the process of selling its “designated market-maker” unit, according to people familiar with the matter.
jlne.ws/1iadZdV

Trading Technologies to Offer High-performance Link to HKEx’s Futures Exchange
CHICAGO & HONG KONG–(BUSINESS WIRE)–Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, today announced that it will introduce connectivity to the Hong Kong Futures Exchange Limited (HKFE) in the second quarter of 2014. One of the largest derivatives exchanges in Asia by volume and a wholly owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), HKFE is home to futures and options on the benchmark Hang Seng and Hang Seng China Enterprises, or H-shares, indexes, a wide range of stock options and Renminbi Currency Futures.
jlne.ws/1igv6un

Senate Panel to Meet on CFTC Nominees as Early as Next Week
Agriculture Committee Expected to Approve Three Nominations
By Andrew Ackerman
WSJ
WASHINGTON—The Senate Agriculture Committee plans to meet as early as next week to vote on President Barack Obama’s three nominees to the Commodity Futures Trading Commission, according to Senate aides.
jlne.ws/OdfeiY

MGEX Posts Record-Breaking March Volume
MINNEAPOLIS – MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today announces the best March volume in the Exchange’s 133-year history. Total Hard Red Spring Wheat (HRSW) and Apple Juice
Concentrate (AJC) futures and options contracts traded totaled 170,400, surpassing the previous March record set in 2011 by nearly ten percent. This places March 2014 at number 22 on the total Exchange monthly volume records.
www.mgex.com/documents/March2014monthend.pdf

Wall Street in derivatives spring clean to buoy capital
By Michael Mackenzie and Tracy Alloway in New York
FT
In an unusual example of co-operation on Wall Street, the biggest banks are working together to tear up billions of dollars worth of derivatives trades as they seek to reduce their use of precious regulatory capital.
jlne.ws/1ksbJ32

Wall Street Cuts Swaps Exposure
By Justin Baer
WSJ
It is Wall Street’s equivalent of a potluck party. Several times a week, the world’s biggest banks get together, each bringing something for the rest of the group. But instead of casseroles and cookies, the firms come with swaps and other derivatives they aim to pair with offsetting trades held by another bank
jlne.ws/1fsdu08

Spot Trading Elevates Three to Partner: McInerney, Penley and Nakagawa
CHICAGO, April 2, 2014 –Spot Trading LLC, a leading proprietary trading firm, announced today the addition of three executives to the firm’s partnership. Robin McInerney, Daniel Penley and Aki Nakagawa have now joined Spot’s existing group of 10 partners.
(by email)

TradeKing Elevates Kevin Delo to CIO
Delo to Lead Brokerage’s Mission to Deliver Outstanding Client Trading Experience
FORT LAUDERDALE, Fla.–(BUSINESS WIRE)– TradeKing Group, Inc. today announced Kevin Delo has been promoted to the role of Chief Information Officer. Formerly TradeKing’s senior vice president of product, Delo now will lead the strategic development and execution of TradeKing’s overall technology and product programs.
jlne.ws/PirVdx

More Flash Boys Recap

The Fame-Ready Cast of the Michael Lewis Publicity Blitz
By Felix Gillette
Bloomberg
Michael Lewis’s recent books—including Moneyball and The Blind Side—have kicked up so much media attention that he’s managed to create a secondary market of opportunities in Hollywood, reality TV, and publishing for the people who appear in his stories. Last year, Jessica Pressler of New York magazine dubbed this the “Michael Lewis Effect.” It’s a recurring phenomenon, she noted, in which “the author makes his subjects into celebrities just by writing about them, endowing obscure figures with major profiles, intellectual prestige, even earning power.”
http://jlne.ws/1pPHKU9

What It’s Like to Star in a Michael Lewis Book
By Kevin Roose
New York Magazine
In January of last year, Ronan Ryan and Brad Katsuyama got a dinner invitation that would change their lives. The call came from a client who wanted to introduce the pair to Michael Lewis, the best-selling author of Moneyball and Liar’s Poker
http://jlne.ws/PhMJ4F

Taking On Flash Trading
By SYDNEY EMBER
New York Times
In his new book, “Flash Boys,” Michael Lewis describes how high-frequency trading works, highlighting a system on Wall Street that has allowed certain professional investors to pay hundreds of millions of dollars a year to locate their computer servers close to stock exchanges so they can make trades milliseconds ahead of everyone else. “There is only one problem with Mr. Lewis’s tale: He reserves blame for the wrong villains,” Andrew Ross Sorkin writes in the DealBook column.
http://jlne.ws/1ebKzcO

Maybe markets are unfair, but are they rigged?
Posted by Steve Grob
Fidessa
The publication of Michael Lewis’s new book Flash Boys has reignited the whole HFT/dark pool debate (actually, maybe it’s never really gone away). The point people seem to continually miss in this debate is the distinction between “unfair” and “rigged”.
To me the term rigged implies some malevolent conspiracy between certain members of an ecosystem aimed at taking advantage of an identified target. In this instance, the ‘patsy’ in question is supposed to be the retail punter and the ‘conspirators’ are the electronic trading firms that exploit the little guys’ inability to act as quickly as they can. Isn’t this just part of the natural world order of winners and losers, especially in a free market economy? Firms that invest their own money in technology to exploit the fragmented nature of markets deserve to make a profit just as much as anyone else.
http://jlne.ws/1jA03N4

Regulatory

DERIVATIVES: CFTC nears cross-border clearing framework
IFR
The CFTC is close to reaching a decision to adopt a substituted compliance framework for derivatives clearing organisations operating overseas, according to comments from the agency’s acting chairman and non-US clearers close to the regulatory discussions.
jlne.ws/1opP9hv

SEC chair discusses probes into high-speed trading
Reuters
By Sarah N. Lynch and Karen Freifeld 13 hours ago
WASHINGTON/NEW YORK (Reuters) – The U.S. Securities and Exchange Commission has several active investigations into possible wrongdoing by high-frequency stock traders and other equity market structure issues, SEC Chair Mary Jo White said Tuesday.
jlne.ws/1dQYgmJ

Canada Regulator Takes Pulse of its Market, Looks at Five Key Areas
Traders Magazine
By John D’Antona Jr.
Canada’s leading securities regulator just took the pulse of its marketplace to see how its participating broker-dealers conduct business.
jlne.ws/1hzUGwx

Exchanges & Trading Facilities

ISE Holdings Reports Business Activity for March 2014
ISE and ISE Gemini™ combined represent 16.2% of equity options market share, excluding dividend trades.
ISE and ISE Gemini reported a combined ADV of 2.4 million contracts.
Trading of multi-legged strategy orders on ISE through Implied Order functionality exceeded 26 million contracts.
Dividend trades made up 1.4% of industry volume in March 2014.
jlne.ws/1igqjJv

Eurex: Average daily volume of 9.4 million contracts at Eurex Group in March
New monthly all-time highs in Eurex KOSPI Product, dividend-based derivatives and RDX futures and options
In March, the international derivatives exchanges of Eurex Group recorded an average daily volume of 9.4 million contracts (March 2013: 9.7 million). Of those, 7.0 million were Eurex Exchange contracts (March 2013: 7.3 million), and 2.4 million contracts (March 2013: 2.4 million) were traded at the U.S.-based International Securities Exchange (ISE). In total, 199.4 million contracts were traded, thereof 148.0 million at Eurex Exchange and 51.4 million at the ISE.
jlne.ws/1ebIjSV

2 successful years for RDX® derivatives – an interview with Tobias Ehinger
Eurex
We spoke to Tobias Ehinger, Senior Vice President, Eurex Exchange, about futures and options contracts on the RDX® USD index, launched on 19 March 2012. Only two years after their launch, Eurex Exchange’s RDX® USD index derivatives have already become very attractive products. The derivatives are based on the Vienna Stock Exchange’s RDX® USD Index, which tracks the price performance of the most liquid depositary receipts (DRs) on Russian shares listed on the London Stock Exchange.
jlne.ws/1dQZ6zZ

CBOE Holdings Reports March Volume
March ADV up 14% from a year ago; year-to-date ADV up 29%
CHICAGO, April 1, 2014 /PRNewswire/ — CBOE Holdings, Inc. (CBOE) reported today that March trading volume for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options ExchangeSM (C2SM) and futures contracts on CBOE Futures ExchangeSM (CFE®) totaled 107.86 million contracts. Average daily volume (ADV) was 5.14 million contracts, a 14-percent increase from March 2013 and a 14-percent decrease from February 2014.
jlne.ws/1opFo30

Vix Futures March Trading Volume Up 20% Over Year Ago
CHICAGO, April 1, 2014 /PRNewswire/ –The CBOE Futures Exchange, LLC (CFE®) today reported that March 2014 average daily volume (ADV) and total monthly volume in futures on the CBOE Volatility Index® (VIX® Index) and total exchange-wide at CFE posted increases over year ago levels. In addition, new quarterly volume records were set in exchange-wide and VIX futures total volume and average daily volume during the first quarter of 2014.
jlne.ws/1dMPKFI

CME Group Volume Averaged 14.1 Million Contracts per Day in March 2014, Up 13 Percent from March 2013
– Interest rate volume rose 35 percent
– Eurodollar futures volume increased 47 percent and Eurodollar options volume increased 132 percent
– Agricultural commodities volume rose 12 percent
– First-quarter 2014 volume averaged 13.7 million contracts per day, up 9 percent from first-quarter 2013
CHICAGO, April 2, 2014 /PRNewswire/ — CME Group, the world’s leading and most diverse derivatives marketplace, today announced that March 2014 volume averaged 14.1 million contracts per day, up 13 percent compared with March 2013. Total volume for March 2014 was more than 295 million contracts, of which 86 percent was traded electronically.
jlne.ws/1frR0ME

OneChicago Announces March 2014 Trading Volume Increase of 68% Year-Over-Year
– EFP Q1 2014 Volume Up 673% compared with Q1 2013
Press Release: OneChicago
CHICAGO, April 1, 2014 /PRNewswire/ — OneChicago, LLC (OCX), an equity finance exchange, today announced its March 2014 volume of 1,261,340, a 68% increase year-over-year. Exchange Futures for Physicals (EFP) quarterly volume grew significantly, reaching a 673% increase compared to Q1 2013. OneChicago is a CFTC and SEC regulated exchange offering Single Stock Futures (SSF), a Delta One product, on approximately 1,500 equities, including ADRs and ETFs.
jlne.ws/1lBML5h

Boerse Stuttgart turnover around EUR 8.2 billion in March
Strong growth in equities and securitised derivatives // Brisk trading in emerging market bonds
Boerse Stuttgart generated turnover of just under EUR 8.2 billion in March 2014, according to its order book statistics. This represented a slight increase in the trading volume in comparison with February.
www.boerse-stuttgart.de

Investor Activity On WSE Markets: March 2014
The value of session trading in equities on the Main Market was PLN 22.6 billion (EUR 5.4 billion) in March 2014, the highest since August 2011 when session trading stood at PLN 26.8 billion. Compared to March 2013, session trading increased by 20.6% year on year. The stronger activity of investors is also reflected in a high increase in the number of transactions per session (by 43.7% year on year) to 1.5 million.
www.gpw.pl

Aequitas OK with TSX Private Markets Formation, Looks to Open Senior Exchange
Traders Magazine
By John D’Antona Jr.
It looks one town is big enough for two of them. That is, there is enough room for two private market exchanges in Canada, according to the chief executive of Aequitas. This comes in response to last week’s announcement by TMX Group, operator of the Toronto and TSX Venture marketplaces, that it was planning to open an exchange devoted to helping small and mid-size companies raise capital while remaining private.
jlne.ws/1dMVLlR

Notice to Members 2014-3: OneChicago Market Data Feeds Effective Date: July 1, 2014
As of July 1, 2014, OneChicago will discontinue the legacy Basic (ONE) Market Data feed. Following the discontinuance of these legacy market data feeds, all firms and others wishing to receive ONE market data from ONE BD or ONE CQ/LS MUST receive data from the ONE Enhanced (CSM) and the Enhanced Book Depth (ONE L2) market data feeds.
jlne.ws/QFhEZU

OSE: Terms for Calendar Spreads
jlne.ws/1jA9Gvd

OSE: Arrival of Last Trading Day for Futures & Options
jlne.ws/PiitH2

Hedge Funds & Managed Futures

Dow Theory Suspense Builds as Stocks Near 1880s Crucible
By Michael P. Regan
Bloomberg
Technical analysts have any number of computer-driven tricks to attempt to read the tea leaves of the stock market, yet a theory developed by Charles Dow in 1884 still captivates them 130 years later.
jlne.ws/1jA2TSf

To Curtail Departures, SAC Pursues 2-Year Pacts
By MATTHEW GOLDSTEIN
New York Times
The billionaire investor Steven A. Cohen is putting pressure on his traders to try to keep his investment firm together, as the once-powerful hedge fund awaits a judge’s decision next week on its guilty plea to securities fraud charges.
jlne.ws/1jAkitW

StockViews Brings Crowdfunding Concept to New Equity Research Platform
Traders Magazine
By John D’Antona Jr
StockViews launched a service, dubbed the “Research Room”, which offers users both institutional and retail, the ability to source and vet research for equity trading.
jlne.ws/1dR79fX

VC fund backs bitcoin derivatives trader
By Brett Cole
WSJ
Bitcoin venture capital fund Seedcoin has invested 500 bitcoin, or about $US240,000 at the cyrpto currency’s current prices, in the bitcoin-only derivatives trading platform created in Australia, BTC.sx
jlne.ws/1ebOEh9

Banks & Brokers

Icap trading slumps amid ‘challenging’ outlook
Anish Puaar
Financial News
Icap has become the latest interdealer broker to report a slump in trading activity, providing further evidence that the first-quarter reporting season will be a bleak one for banks’ markets operations.
jlne.ws/1jAeJM5

JPMorgan Assailed by Russian Ministry for Blocking Transaction
By Hugh Son
Bloomberg
JPMorgan Chase & Co.’s decision to block a payment involving a Russian embassy was called “illegal and absurd” by the Foreign Ministry in Moscow.
jlne.ws/1gNPwgX

UBS Said Poised to Receive EU Immunity in Currency Rigging Probe
Bloomberg
UBS AG is poised to receive immunity from European Union currency-rigging fines after it was the first to approach regulators in the probe, according to a person with knowledge of the case.
jlne.ws/1gnCWjz

Clearing & Settlement

Union Investment new user of EurexOTC Clear
Eurex Clearing: Union Investment, one of the largest German asset managers for private and institutional investors, is a new user of EurexOTC Clear for Interest Rate Swaps (IRS). The company has been connected as an individually segregated client since end of March and has cleared the first transactions using EurexOTC Clear via its clearing member Deutsche Bank. Union Investment is the first major asset manager to have fully concluded onboarding using the German clearing framework agreement. More than 120 further buy-side firms are currently in the connection process to use Eurex Clearing’s OTC service.
jlne.ws/1i1Ykfk

OCC Announces Cleared Contract Volume Increased 14% In March
OCC announced today that total cleared contract volume in March reached 362,379,835 contracts, representing a 14 percent increase from March 2013. OCC’s year-to-date cleared contract volume is up 10 percent with 1,108,482,532 contracts in the first quarter of 2014.
jlne.ws/1hzJVKR

THE OPTIONS INDUSTRY COUNCIL ANNOUNCES INVESTOR EDUCATION DAY IN NEW YORK CITY APRIL 12
CHICAGO (April 1, 2014) – The Options Industry Council (OIC) today announced that its second Investor Education Day (IED) for 2014 is taking place in New York City, NY on April 12.
Options are an ideal tool for a variety of investors and market conditions. The popular, and free, all day options education program is taught by experienced instructors from the various options exchanges and OIC professionals. This event is the second of two IED’s hosted by OIC this spring to help investors develop their knowledge and ability to responsibly trade options.
optionseducation.us4.list-manage.com/track/click?u=ef0a0edaa371bf2e3a68c9368&id=4b1cb2fb56&e=f11ece7f00

Indexes & Products

 

Technology

OptionsCity Named a Finalist in the 2014 Technical Analyst Awards
OptionsCity Software, a global provider of electronic trading solutions for professional futures and options traders, today announced that it is a finalist in two categories of The 2014 Technical Analyst Awards. OptionsCity Freeway and Freeway Analytics are finalists for “Best Automated Trading Platform: Execution” and “Best Automated Trading Platform: Strategy Development,” respectively.
jlne.ws/1e9KwhT

Enforcement

Goldman fined €37m by EU over subsea cable investment
By Alex Barker in Brussels, FT
Goldman Sachs was fined €37m on Wednesday as part of an EU cartel probe on subsea power cables that underlines the legal risks faced by buyout groups.
jlne.ws/1ln1Vsy

HSBC Faces ‘Much Work’ in Money-Laundering Accord, U.S. Says
By Erik Larson
HSBC Holdings Plc (HSBA) has “much work” to do as part of a $1.9 billion agreement with the Justice Department to avoid prosecution for money laundering, the U.S. said in a status report on the U.K.-based bank’s performance.
jlne.ws/1ln0QRj

Two Britons Charged in Deutsche Bank-Related CO2 Tax Probe
By Karin Matussek
Bloomberg
Frankfurt prosecutors charged two U.K. citizens in a tax-evasion probe that also ensnared two of the highest-ranking officials at Deutsche Bank AG. (DBK)
jlne.ws/1gnDd5Z

Environmental & Energy

McDonald’s honors Cargill with seven “Best of Sustainable Supply” awards
Awards recognize leadership in improving food security and in operating responsible supply chains
MINNEAPOLIS, April 1, 2014 /PRNewswire/ — McDonald’s, one of Cargill’s largest global customers, honored Cargill today with seven “Best of Sustainable Supply” awards, including two category winners for community impact and economics. McDonald’s bestows the awards to recognize outstanding supplier leadership in helping provide a safe, sustainable and assured supply of food and products for its customers, and to encourage the sharing of best practices in sustainability.
jlne.ws/1myL0mI

Asia-Pacific

Cargill helps raise standards of education in West Kalimantan to give children a brighter future
01 Apr 2014
Cargill is embarking on a landmark move to bring higher education to West Kalimantan through a distance learning program, as part of its push to provide access to education to rural areas. Cargill will be working with Yayasan Harapan Masa Depan Cerah (YHMDC) – ‘Hope For A Bright Future Foundation’ and Universitas Terbuka (UT) to allow a total of 58 primary school teachers to undertake their Bachelor in Education degrees at the Cargill Tropical Palm (CTP) Learning Academy in Manis Mata.
jlne.ws/1s7cjZm

Frontier Markets

Billionaire Amazon Bet Vindicated on Apple Tin Demand
Bloomberg
As metal prices plunged on the eve of the financial crisis in September 2008, Peru’s billionaire Brescia family paid about $400 million to buy the world’s largest tin deposit in the Amazon jungle.
jlne.ws/1lmYkdZ

BRICs Casualty Seen in ETFs New Confidence Without China
By Ye Xie and Alexandria Baca
Bloomberg
Investors flocking to exchange-traded funds to chase the longest emerging-market stock rally since January 2013 are bypassing China.
jlne.ws/1lmYgLl

ADVANTAGE FUTURES JOINS DME AS CLEARING MEMBER
Advantage Futures, a leading futures brokerage firm, today announced that it has been approved as a Clearing Member of DME, the Middle East’s premier energy futures exchange.
(by email)

Miscellaneous

Former Rothstein Ponzi investors sue Bank of America
By Paula McMahon, Sun Sentinel
Dozens of former investors — who lost more than $385 million in convicted Ponzi schemer Scott Rothstein’s massive fraud — filed a pair of civil lawsuits against Bank of America and four current or former employees on Monday.
jlne.ws/QFoxu9

Bitcoin derivatives platform BTC gets funding from Seedcoin
By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) – Bitcoin derivatives trading platform BTC.sx has secured funding from Seedcoin Fund, BTC.sx Chief Operating Officer George Samman told Reuters on Tuesday.
jlne.ws/OdfQFc

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