First Read

A Daughter’s Scouting Journey
By John J. Lothian

My daughter Katherine has joined the Boy Scouts of America. Yes, that is right, the Boy Scouts of America. She is a 17-year-old girl and joined a Venture Crew, a shooting focused unit. She now has a FOID (Firearms Owner Identification) card, is (somewhat) trained to shoot and has an attitude.

Actually, it is a very sweet attitude. After years of my suggesting and prodding, Katherine decided to become a scout to attend the the 23rd World Scout Jamboree in Japan this summer. She is signed up and going as a Venture Scout, a type of scout that is a boy or girl over 14 and less than 21 years old. She wants to travel the world and meet people from different countries, and this is a great opportunity to do just that.

Katherine is already an accomplished camper, having been on many Boy Scout weekend campouts as a young girl when my wife worked and I had the kids. She also picked up a lot from just being around a scoutmaster father, Eagle Scout brother, and pesky little (scout) brother.

While I am a proud father, this story is also about three other young men from my Boy Scout troop headed to the Japan event. I pledged to help these three outstanding young men with the $5,750 cost for each to attend the event at Kirara-hama, Yamaguchi, Japan. So far I have helped raise $10,000 of the $15,000 I pledged. I could use some more help with the rest, but I will get to that.

Read the rest of the story on JohnLothianNews.com

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Macquarie and FFK Support Leadership Through Sport Program
Press release
Leadership Through Sport – the social mobility charity that works with football clubs like West Ham United and Leyton Orient – is pleased to announce it has received major backing from the Macquarie Group Foundation and Futures For Kids (FFK). Macquarie is to become the charity’s Principal Corporate Funder after pledging to provide financial support over the next three years, which will help to fund Leadership Through Sport’s unique apprenticeship scheme. Futures For Kids, the charity that was founded by the futures industry, has also pledged to take part in a similar funding arrangement that will enable Leadership Through Sport (LTS) to build on its success at transforming lives. You can read more about Leadership Through Sport and see video interviews with the apprentices on the charity’s website below.
jlne.ws/1Cg5bAK

***** There are plenty of ways to help young people.

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Tone Grant, Refco Ex-President Serving 10 Years, Dies
By David Glovin
Former Refco Group Ltd. President Tone Grant, a decorated U.S. Marine Corps veteran who was serving a 10-year prison sentence for defrauding investors of $2.4 billion in an eight-year accounting scheme, has died. He was 70. Grant died Jan. 18 at the federal medical center in Rochester, Minnesota, according to Chris Burke, a spokesman for the U.S. Bureau of Prisons. Burke declined to comment on the cause of death. Grant was scheduled to be released from prison in July 2017.
jlne.ws/1tpOcJ9

***** This story ran on Bloomberg on January 20, but somehow we missed it.

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BGC Issues Letter To GFI Shareholders Dated January 28, 2015
Dear Fellow GFI Shareholders:

We urge you to protect the value of your investment in GFI Group by voting AGAINST all of the proposals at the special meeting of GFI shareholders scheduled for January 30th.

In a final desperate attempt to protect their conflicted and self-interested transaction, GFI management is asking you to accept $5.85 per share in cash and stock, which is $0.25 less than BGC’s $6.10 all-cash offer. They want you to accept this obviously lower value for your shares in order for GFI management to purchase the brokerage business and realize the tax benefits that we believe accrue almost entirely to them.

In contrast, BGC’s $6.10 per share fully financed, all-cash tender offer provides ALL GFI shareholders the opportunity to realize superior value and immediate liquidity at closing and is free of the conflicts of interest in the CME-GFI management buyout proposal. Read the rest of the letter

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Women in Listed Derivatives Elects New Members to North American Board; Selects 2015 Executive Committee
WILD
Women in Listed Derivatives (WILD), a group that promotes networking and relationship-building among women in listed and OTC derivatives, announced today the results of its second board of directors’ election and its 2015 executive committee. The North American chapter of WILD elected Nancy Kaplan, Neda Nabavi, Jennifer O’Rourke, Diane Saucier and Lisa Sterba to fill five open board seats. They join sitting board members Dorothy Ferlanti, Bethany Riesenberg, Mary Savoie and Leslie Sutphen
The following members were selected by the board to serve on the executive committee:
Diane Saucier – President
Leslie Sutphen – Vice President
Jennifer O’Rourke – Secretary
Bethany Riesenberg – Treasurer
(Via Email)

***** Congratulations to the new board members and officers. Best wishes to co-founder and former president Jessica Titlebaum as she works to build her presidential library.

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Oppenheimer to Pay SEC, EU Financial Tax: Compliance
by Carla Main, Bloomberg
Oppenheimer Holdings Inc. will pay $20 million to settle U.S. regulatory claims that it improperly sold billions of shares of penny stocks on behalf of customers.
jlne.ws/1CMb6MV

***** Oppenheimer gets whacked for unregistered penny stocks? Really?

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Understanding Investment Risks In The Financial Markets
by Goal Investor, Value Walk
Do you go without health or homeowner’s insurance in order to save money? Do you go to casinos and play the slot machines? Ride a motorcycle without a helmet? Most of us understand that these are frivolous, high-risk practices that can cause grave harm. But do you know the risks involved in investing?
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***** Understanding risk in everything you do is important and why a lot of people spend a lot of time safely on their couches.

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CFTC’s Giancarlo attacks Dodd-Frank
Futures & Options World
US Commodity Futures Trading Commissioner Chris Giancarlo has criticised the Dodd-Frank Act and highlighted five key problems with the controversial market reform. Giancarlo, a former senior manager at broker GFI Group before being sworn in as CFTC commissioner in June, said he supports the three principles of Dodd-Frank: central clearing, swaps reporting and regulated swaps execution
jlne.ws/1BjnQ9x

***** If a Republican Commissioner shouts in the wilderness, does anyone hear him?

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SEC allows marijuana dealer to register stock
By Gregory J. Millman, MarketWatch
The U.S. Securities and Exchange Commission has allowed a share registration to proceed for a company whose business model includes cultivation and sale of marijuana, which are both illegal under federal law, though legal under some state laws.
jlne.ws/1K3vycs

****** I am sure there are some investors who want to go long pot.

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Portland Brewery Puts Low-Carbon Beer On Tap
By Cassandra Profita – OPB
Some people ride a bike instead of driving a car to reduce their contributions to climate change. Others shrink their carbon footprint by installing solar panels on their rooftops. Now, a Portland brewery has another suggestion: Drink low-carbon beer.
jlne.ws/1Cxw7ul

***** If they are going to sell flat beer, they may as well sell cold pizza too.

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Commit to removing legal barriers to data-sharing
Larry Thompson, Managing Director and General Counsel, Depository Trust and Clearing FT
Sir, Regulators are right to point out that a common financial language is essential to addressing some of the failings that were made apparent during the financial crisis (“We need a common language for data to prevent next Lehman”, Insight, January 15). However, agreeing on a common language, while an important step, will have limited impact if we do not address a number of practical and legal barriers that make cross-border data sharing difficult, if not outright impossible.
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***DA: Appropriately placed plug for our recent video series on transparency HERE

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MarketsWiki

MarketsWiki Page of the Day
ISDAFIX

MarketsWiki Recent Updates

People

Tone Grant; Alan Bush

Companies, Organizations and Groups

Rosenthal Collins Group LLC; OpenBondX; COMEX

Products

ISDAFIX; COMEX Gold Kilo Futures

Statistics

StatsGoOnThisLine
MarketsWiki Statistics

Lead Stories

KCG to sell forex trading platform Hotspot to BATS Global
CNBC
Financial services provider KCG Holdings Inc said it will sell its foreign exchange trading platform, KCG Hotspot, to BATS Global Markets for $365 million in cash.
jlne.ws/18u4aJ9

MarketAxess Reports Fourth Quarter 2014 Record Revenues of $70.2 Million
Press Release
MarketAxess Reports Fourth Quarter 2014 Record Revenues of $70.2 Million, Record Pre-Tax Income of $33.5 Million and Record Diluted EPS From Continuing Operations of $0.57
Company Announces 25% Increase in Regular Quarterly Dividend to $0.20 Per Share, Up From $0.16
jlne.ws/18tZtiw

‘Wall Street Spy Ring’ Sought to Disrupt Financial Markets
By Damien Sharkov, Newsweek
The Russian spy ring, which the U.S. Federal Bureau of Investigation (FBI) announced it had busted in New York earlier this week, had allegedly been tasked with looking into U.S. trading patterns, in a possible bid to destabilise the US stock market, according to a court document made public today.
jlne.ws/1BnWFug

GFI head makes last call for CME backing
Philip Stafford, FT
The executive chairman, founder and main shareholder of interdealer broker GFI Group has made a last-ditch effort to muster support for a takeover by CME Group by disclosing that he and his ex-wife will take a reduced price for their shares.
jlne.ws/1BnTnai

FXCM to Forgive Majority of Clients Who Incurred Negative Balances
Bloomberg
FXCM Inc., the currency brokerage that almost failed due to trading losses, said it would seek repayment of about 60 percent of the money it lost as a result of the Swiss central bank’s decision to drop its currency controls.
jlne.ws/1yNaMMu

Why did the Swiss franc spike? Blame the locals
Matthew C Klein, FT
There is a straightforward answer to the question in the headline: more money has been trying to get into Switzerland than get out, which didn’t affect the exchange rate as long as the Swiss National Bank bought foreign currency. As soon as they stopped, the exchange rate adjusted to balance the new set of flows. But a detailed look at the gross flows in and out of the country provides a more nuanced and interesting picture.
jlne.ws/1y4RJJy

S.E.C. Faces Challenges Over the Constitutionality of Some of Its Court Proceedings
By Peter J. Henning, NY Times
It is probably not a stretch to say that the Securities and Exchange Commission likes to win every case that it decides to bring.
jlne.ws/1Dd3OzS

Renminbi joins top five most-used currencies
Josh Noble in Hong Kong, FT
China’s renminbi has clocked up another major milestone on its march towards internationalisation by breaking into the top five most-used global payment currencies.
According to data from Swift, the international currency clearing system, 2.2 per cent of the world’s payments were conducted using the Chinese currency in December, putting it above both the Canadian and Australian dollars for the first time.
jlne.ws/1D9rLb6

Qatar wins battle to take over Canary Wharf
Kate Allen, FT
The Qatar Investment Authority and Canadian property investor Brookfield have won their £2.6bn battle to take over east London business district Canary Wharf, after its owner failed to find an alternative buyer.
jlne.ws/1tprReF

Chicago trading firm Teza looks to Texas for talent
By Lynne Marek, Crain’s Chicago Business
Teza Technologies, one of Chicago’s top high-speed trading firms, is seeking to expand its business by opening an outpost in Texas and adding a hedge fund operation. raising money from outside sources to create two funds that used a quantitative analysis strategy. Like other proprietary trading firms, or “prop shops,” Teza has in the past traded for the benefit of its owners, and not for clients. Proprietary firms are secretive and don’t reveal their trading or financial performance.
jlne.ws/1ywEkcn

JPX and SGX launch JPX-SGX Co-Location Direct Service
SGX
Japan Exchange Group (JPX) and Singapore Exchange (SGX) are pleased to launch the JPX-SGX Co-Location Direct service which will commence in April 2015. This follows the Letter of Intent (LOI) signed between JPX and SGX in December 2014.
jlne.ws/1EPhQsG

Stock Swings Unsettle Investors; Dow’s Drop of 291.49 Is Fueled by Companies’ Downbeat Earnings, Outlooks
By Saumya Vaishampayan, WSJ
When the blizzard blew past Wall Street on Tuesday, the stock market kicked up a storm of its own.
jlne.ws/1D9uQYJ

Commodities and currencies: the uneven link
Gregory Meyer in Miami, FT
Testing the Wall St maxim: When the dollar strengthens, commodity prices soften
It’s a common assertion on Wall Street: when the dollar strengthens, commodity prices soften.
The logic makes sense. Most internationally traded commodities are priced in US dollars, as are benchmark futures such as Brent crude oil. So, a rise in the dollar increases the value of the same number of tonnes, barrels or bushels, all else equal.
jlne.ws/1ywzvjj

Beware of Greeks remitting cash overseas
FT
Shares in all four of the big Greek banks lost more than 10 per cent for a second day running
jlne.ws/1tpst45

New FX trading standard sees slow adoption
Euromoney magazine
jlne.ws/1tl9F68

Regulatory

SEC to Hold Roundtable on Proxy Voting
SEBI
The Securities and Exchange Commission today announced that it will host a roundtable on February 19 to explore ways to improve the proxy voting process. The roundtable, which will be held at the SEC’s Washington, D.C. headquarters, will focus on universal proxy ballots and retail participation in the proxy process.
Proxy voting is important to both investors and companies. The ability to vote allow
jlne.ws/15SQwhv

How Houston wealth managers are violating regulations and paying the price
Suzanne Edwards, Houston Business Journal
Rules were not made to be broken, and yet wealth management firms across the country are repeatedly violating regulations from the Financial Industry Regulatory Authority.
jlne.ws/1Cyju28

“Reconciling Regulatory Requirements in Cross-Border Derivatives Takes Center Stage”
by Cyrus Amir-Mokri, Patrick Brandt, Maureen A. Donley, Mark D. Young, JD Supra
As the Commodity Futures Trading Commission (CFTC) completes the derivatives regulations mandated by the Dodd-Frank Act, the European Union continues to develop its own derivatives rules.
jlne.ws/1Dgqcsb

EU says near deal with Washington on derivatives rules
By Huw Jones, Reuters
The European Union and the United States are poised to accept each other’s rules on financial derivatives trading in a bid to prevent a global market that supports economic growth from fragmenting, a senior EU official said on Tuesday.
jlne.ws/1Lh3G88

CFTC aims to approve new position limits by year’s end: staffer
By Tom Polansek, Reuters
The U.S. Commodity Futures Trading Commission aims to approve by the end of this year proposed rules to crack down on speculation in energy, grain and metals markets, the agency’s chief of staff said on Tuesday.
jlne.ws/1BxblJT

What’s New on the SEC Website
SEC
Self-Regulatory Organization (SRO) Rulemaking and National Market System (NMS) Plans
C2: Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Fees Schedule (Release No. 34-74135; File No. SR-C2-2015-001; January 26, 2015); see also Exhibit 5
CBOE: Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Fees Schedule (Release No. 34-74134; File No. SR-CBOE-2015-005; January 26, 2015); see also Exhibit 5
FICC: Order Approving Proposed Rule Change to Amend the Government Securities Division Rulebook and the Mortgage Backed Securities Clearing Rules In Order to Move the Time of Novation with Respect to Certain Trades, Include Rules to Reflect Existing Processes, and Clarify Certain Rules to Reflect Current Practices (Release No. 34-74132; File No. SR-FICC-2014-11; January 26, 2015)
ICEEU: Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change Related to New Haircuts (Release No. 34-74133; File No. SR-ICEEU-2015-003; January 26, 2015)
MIAX: Notice of Filing of a Proposed Rule Change to Amend MIAX Rule 402 (Release No. 34-74131; File No. SR-MIAX-2015-04; January 26, 2015); see also Exhibit 5
NASDAQ: Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Regarding the Short Term Option Series Program (Release No. 34-74146; File No. SR-NASDAQ-2015-005; January 27, 2015); see also Exhibit 5
NASDAQ: Order Approving a Proposed Rule Change Relating to the NASDAQ Opening and Halt Cross (Release No. 34-74096; File No. SR-NASDAQ-2014-116; January 20, 2015)
NASDAQ OMX BX: Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Regarding the Short Term Option Series Program (Release No. 34-74147; File No. SR-BX-2015-006; January 27, 2015); see also Exhibit 5
OCC: Notice of Filing of a Proposed Rule Change Concerning a Proposed Capital Plan for Raising Additional Capital That Would Support The Options Clearing Corporation’s Function as a Systemically Important Financial Market Utility (Release No. 34-74136; File No. SR-OCC-2015-02; January 26, 2015)
jlne.ws/1eCTnOv

Exchanges & Trading Facilities

KCG to sell forex trading platform Hotspot to BATS Global
Reuters
Financial services provider KCG Holdings Inc said it will sell its foreign exchange trading platform, KCG Hotspot, to BATS Global Markets for $365 million in cash.
jlne.ws/1uAEWx5

London Metal Exchange to Occupy New Site in Finsbury Square
by Agnieszka De Sousa & Laura Clarke, Bloomberg
The London Metal Exchange, once located above a hat shop in the city’s financial district, will move Europe’s last trading floor to a new building by next year.
jlne.ws/1ywwpf1

New Trader Update and Market Status Notification System
NYSE
This is a reminder that effective Monday, February 2, 2015, Trader Update and Market Status notices for the NYSE, NYSE MKT, NYSE Arca Equities, NYSE Arca Options, NYSE Amex Options and NYSE Bonds markets will be migrated to a new platform.
jlne.ws/1y3zgNy

BATS SUCCESSFULLY COMPLETES DIRECT EDGE INTEGRATION;
BATS Global Markets (BATS), a leading operator of securities markets in the U.S. and Europe, today reported the successful and complete migration of the legacy Direct Edge stock exchanges, EDGX and EDGA, to the proprietary BATS technology.
jlne.ws/1yJz6Pm

Postponed: CME ConfirmHub Production Environment Migration
CME Group
The launch of the new CME ConfirmHub production environment scheduled for Sunday, February 1 (trade date Monday, February 2), has been rescheduled to Q2 2015.
jlne.ws/1Eq0DIM

GMEX may face slight delay in launch date – CEO
Futures & Options World
GMEX may be facing a slight delay in its launch date after it emerged the nascent European swaps exchange may need additional approval from shareholder Eurex before launch. GMEX chief executive Hirander Misra told FOW the exchange’s launch may require an additional level of sign-off from the Eurex Clearing Supervisory board which does not meet until the end of April, a requirement that could postpone launch by a few weeks.
jlne.ws/18tTcmU

Earnings Increase Expected for Nasdaq OMX Group
Forbes
Analysts expect higher profit for Nasdaq OMX Group when the company reports its fourth quarter results on Thursday, January 29, 2015. The consensus estimate is calling for profit of 74 cents a share, reflecting a rise from 69 cents per share a year ago.
jlne.ws/1ywZbMt

Hedge Funds & Managed Futures

Former Billionaire Wyly Sued by Ex-Wife Over Stock Holdings
by Erik Larson, Bloomberg
Former billionaire Samuel Wyly was sued by his ex-wife over claims he hid stock in companies he controlled during their 1991 divorce.
jlne.ws/1zXwQ8R

Point72’s Braunstein Said to Leave Cohen’s Family Office
by Saijel Kishan, Bloomberg
Scott Braunstein, the former JPMorgan Chase & Co. money manager hired by Steven A. Cohen last year, left after less than four months working for the billionaire, according to a person with knowledge of the matter.
jlne.ws/1Cypvfh

The case for buying negative yield bonds
Leslie Shaffer, CNBC
Buying negative-yield bonds — or paying for the privilege of lending money — might look like a sucker’s game, but some analysts see the opportunity for profits.
jlne.ws/1wAGzum

Jeff Gundlach reveals his biggest mistake — and how you can avoid it
By Victor Reklaitis, MarketWatch
While many investing experts advise always sticking to your game plan, Jeffrey Gundlach suggests you can take that too far.
jlne.ws/1D9wgCr

Opinion: Bitcoin has no place in any portfolio; The vast majority of investors should not give bitcoin the time of day.
By Jeff Reeves, MarketWatch
Bitcoin, the digital currency that took the world by storm about a year ago, is back in the news in a big way lately.
jlne.ws/1zb75Px

Typhon and Meritage form Strategic Relationship to Launch the Metis Momentum Macro Program
Typhon Capital
Typhon Capital Management announced today that it has reached an agreement with Meritage Capital. Under this agreement, Mark Aune will join Typhon as a Principal Trader and will solely manage the Metis Momentum Macro Program, which he developed in conjunction with Meritage, for Typhon. All three parties will share Metis’s economics.
(No Link)

Hedge Funds, Private Equity Win Big at TARP Auctions; Funds Profit by Reselling Shares to Banks
By Ryan Tracy, Julie Steinberg and Rob Copeland, WSJ
A government program to rid itself of TARP investments in small banks has proved a boon to hedge funds, private-equity and other private investors, according to a new watchdog report.
jlne.ws/1CyyTQ0

Banks & Brokers

Jain’s Global Plans for Deutsche Bank Falter as Trading Lags
by Nicholas Comfort, Bloomberg
The global investment bank Anshu Jain pledged to build has probably become Deutsche Bank AG’s weakest business — and investor pressure is mounting on him to cut it back.
jlne.ws/1Cg4UOi

Icap to offer Chinese data in latest Asia deal
Futures & Options World
Icap Information Services (IIS) has partnered with financial data provider Wind Information Co to provide offshore Chinese renminbi (CNH) and US Treasury data to the Chinese market, marking the British broker’s latest deal in Asia. The agreement will see the companies launch new currency derivatives and has been established to strengthen the liquidity in the foreign exchange over-the-counter and futures markets in Asia.
jlne.ws/1JYlilL

JPMorgan profited from soaring Swiss franc – Bloomberg
Reuters
JPMorgan Chase & Co’s currency traders made a profit of as much as $300 million when the Swiss central bank shocked markets by scrapping its cap on the franc this month, Bloomberg reported, citing two people with knowledge of the matter.
jlne.ws/1Cg59sO

BNY Mellon may face bribery charges over sovereign wealth funds -filing
By Nate Raymond and Aruna Viswanatha, Reuters
Bank of New York Mellon Corp has disclosed in a filing that U.S. regulators are considering charging it with violating U.S. foreign bribery laws after an investigation into internships it gave to relatives of sovereign wealth fund officials.
jlne.ws/1zyoKDZ

Israeli brokers seek regulatory changes to compete with banks
By Tova Cohen, Reuters
Israeli brokers, struggling to compete with the country’s powerful banks when it comes to trading in securities on the Tel Aviv market, are seeking regulatory changes that they hope will boost their falling share of trade.
jlne.ws/1zXJZyR

Clearing & Settlement

GMEX Group takes stake in Avenir Technology
Automated Trader
Global Markets Exchange Group International has announced that it has taken a strategic stake, through its GMEX Technologies subsidiary, in the UK based post-trade software firm Avenir Technology. Avenir has developed a suite of systems for post-trade processing for exchanges, clearing houses, central securities depositories (CSDs) and share registrars across multiple assets classes including securities, derivatives and physical commodities.
jlne.ws/18tPDwZ

IMN: CCPs gain speed
Securities Lending Times
Some of beneficial owners’ biggest questions about central counterparties (CCPs) for securities lending are yet to be answered, but there are proven benefits that they should take note of right now. CCPs returned to the agenda at the Beneficial Owners’ International Securities Lending and Collateral Management Conference in San Francisco.
jlne.ws/1Bo13cG

ISDA Proposes CCP Recovery and Continuity Framework
Traders Magazine
In the paper, “CCP Default Management, Recovery and Continuity,” ISDA wrote clearing houses have become vital to derivatives market infrastructure following the implementation of new regulations that require standardized over-the-counter derivatives to be cleared. As a result of their systemic importance, CCPs are required to develop recovery plans to avert a threat to their viability and ensure they can maintain the continuity of critical services without requiring the intervention of resolution authorities or resorting to public money.
jlne.ws/1Bo1eo9

Outsource Clearing House: Banks Fear Clearing House Risks
GroundReport.com
Outsource Clearing House, a Beijing-based clearing facility for the China market, believes that clearing houses must be able to demonstrate that their systems can withstand issues on both sides of a trade and that the first step in addressing the concerns of their members is moving to ensure the availability of capital rather than relying on taxpayer-funded bailouts.
jlne.ws/1Bo1GmC

Indexes & Products

S&P Dow Jones unveils fixed income indices – InvestorDaily
US-based index provider S&P Dow Jones Indices has launched a new range of fixed income products covering over 20,000 individual securities. The S&P US Aggregate Bond Index is a market value-weighted index designed to measure the performance of the investment grade US fixed income market, according to a statement released yesterday.
jlne.ws/1BocoJH

CSOP Asset Management Licenses New MSCI China and USA Internet Index
MSCI Inc. (NYSE: MSCI), a leading provider of investment decision support tools worldwide, announced today that CSOP Asset Management, one of the largest Chinese asset management firms in Hong Kong with over USD 8 billion in assets under management, has licensed the MSCI China and USA Internet Top 50 Equal Weighted Index* for a new ETF to be launched shortly.
jlne.ws/1BociBW

Smart Beta Diversification: Long-Term Performance of Russell 1000(R) Equal Weight Index Relative to Its Market Cap Weighted Counterpart the Russell 1000(R) Index Illustrates Potential Benefits of Utilizing a Non Market Cap-Weighted Index Approach
The U.S. large cap Russell 1000 Equal Weight Index outperformed its market capitalization weighted counterpart the U.S. large cap Russell 1000 Index for the five- and ten-year periods (annualized) ended January 20, 2015. And, while past performance is no guarantee of future performance, relative historical returns for these two indexes help illustrate the potential benefits to investors in blending an alternatively weighted and market capitalization weighted approach to market indexes when measuring market performance.
jlne.ws/1BoczVe

Technology

Cointerra, Bitcoin Company, Files to Liquidate in Bankruptcy
by Dawn McCarty, Bloomberg
The bitcoin mining company Cointerra Inc. filed to liquidate its assets under Chapter 7 of the U.S. Bankruptcy Code, following the bitcoin exchange Mt. Gox in declaring insolvency as the virtual currency falls in value.
jlne.ws/15IkT9T

A Good SWIFT Kick
StreetWise Professor
They say a foolish consistency is the hobgoblin of little minds, so it must be that Russians have truly expansive minds indeed. On the one hand, by May they will have established a payments system that will eliminate dependence on the international payments system called SWIFT. The Russians have also been boasting about how deals with China and Iran to conduct business using their own currencies rather than the dollar will immunize them from American financial measures. Do your worst, stupid Americans!
jlne.ws/d2dUZ5

‘Staggering’ iPhone Demand Helps Lift Apple’s Quarterly Profit by 38%; Profit Hits $18 Billion as 74.5 Million iPhones Are Sold
By Daisuke Wakabayashi, WSJ
Apple Inc. surpassed even the most bullish Wall Street expectations for its holiday quarter with an improbable trifecta: selling more iPhones at higher prices—and earning more on each sale.
jlne.ws/1EP9qBI

Oceasoft Lists On Alternext
Mondovisione
EnterNext, the Euronext subsidiary dedicated to promoting and growing the market for SMEs[1], today announced the successful listing of Oceasoft, developer of smart and connected sensors for the industry, on Alternext in Paris.
jlne.ws/18tU2QC

Enforcement

Ex-UBS Broker Owes $4M in FINRA Arbitration
by Suleman Din, onwallstreet
A former UBS broker was ordered to pay the firm more than $4 million by a FINRA arbitration panel, a claim representing more than half of the total awards handed out by the regulator against advisors this month.
jlne.ws/1uAtgdO

SEC Charges Oppenheimer With Securities Law Violations Related to Improper Penny Stock Sales
SEC
The Securities and Exchange Commission today charged Oppenheimer & Co. with violating federal securities laws while improperly selling penny stocks in unregistered offerings on behalf of customers.
jlne.ws/1y4PIx3

Environmental & Energy

Analysts predict global renewable energy capacity to double by 2025
By James Murray – BusinessGreen
Frost & Sullivan has become the latest analyst firm to highlight the growing importance of the renewable energy industry, with the publication of a new report suggesting global renewable energy capacity will more than double over the next 10 years.
jlne.ws/1Hawcsr

Obama’s pivot on oil draws fire from left
By Laura Barron-Lopez – The Hill
President Obama unveiled plans Tuesday to open swaths of the Atlantic and Arctic oceans to new oil and gas exploration, enraging Democrats and environmentalists who had cheered him just two days earlier for blocking drilling elsewhere.
jlne.ws/1CLsp0O

“Yes, we can live well and avoid climate disaster, says UK government
By Fiona Harvey – The Guardian
The world can enjoy higher standards of living and more travel, while drastically cutting emissions to avoid dangerous climate change – but only with sweeping changes to our infrastructure, the natural world and agriculture, a new analysis has found.
jlne.ws/1EOIiCK

Big Oil Faces Time of Reckoning; Shell, BP and Others to Report Earnings, Reveal What Role Lower Crude Prices Played On Results
By Justin Scheck, WSJ
In the coming days, the world’s biggest publicly traded oil companies will report fourth-quarter earnings, offering the best look yet at the bite lower crude prices have taken out of Big Oil.
jlne.ws/1yN1LTD

Asia-Pacific

NZX and Financial Markets Authority team up
Business Day
The NZX and the Financial Markets Authority have agreed measures to improve their working relationship in the interests of investors and market development.
jlne.ws/1JGpfgI

Sieren’s China: Shanghai exchange inches nervously toward options rollout
DW
The Shanghai Stock Exchange is counting down to next month’s launch of the mainland’s first stock option market. It will be an acid test for the capital markets, says DW columnist Frank Sieren.
jlne.ws/1LeGkjm

HKFE Announces Revised Margins for Futures Contracts
HKEx
jlne.ws/18u66kP

Frontier Markets

BSE offers whistleblower platform
Business Standard
Asia’s oldest stock exchange has launched a platform where whistleblowers can provide information about any wrong-doing. They can do so without disclosing their identity through a link on the bourse’s web page.
jlne.ws/1Hc8E6u

Bloomberg: Will India beat China on the long run?
Eurex
The economic growth race between India and China started in the late 1940s. Given the sheer size of their populations, each has the potential to dominate the global economy but until recently, it’s been no contest: In 2013, China’s per capita gross domestic product was 4.5 times larger than India’s. The latest forecast of the World Bank suggests that the tide may be turning in India’s favour, and by 2017, it will be growing faster than China.
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Securities and Exchange Board of India Notices
SEBI
Settlement Order in respect of Vishal K Mahadevia in the matter of M/s Tak Machinery and Leasing Limited (Now Known as “M/s Mangal Credit & Fincorp Limited”)
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Regional bourses’ investors breathe easy with extension
By: Jash Kriplan, The Financial Express
Over 2 lakh retail investors, who have shares in the exiting regional stock exchanges, got a breather last week. The Securities and Exchange Board of India (Sebi) gave another 18 months to the companies exclusively listed on the exiting regional stock exchanges to migrate to the nation-wide stock exchanges.
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Miscellaneous

Cargill likely to stay private, commits to Ukraine: CEO
By Tom Polansek, Reuters
Cargill Inc [CARG.UL], one of the world’s largest privately held corporations and a top commodities trader, will likely remain private for at least another decade, the chief executive said on Tuesday as he assessed challenges facing the 150-year old company.
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