Nodal Exchange And IncubEx Collaborate To Launch First-Of-Their-Kind Environmental Futures & Options

Jun 8, 2022

Observations & Insight

SIFMA’s Ellen Greene Talks CAT, Regulation Surplus and Retail Trading in JLN OIC 2022 Interview

John Lothian News Interviewed Ellen Greene at the 2022 Options Conference in San Antonio, Texas, about what SIFMA is.

We asked Greene about the consolidated audit trail and how this data repository was doing since it started in 2020.

Greene spoke about how important protecting the data of the CAT is and how to do that.

Watch the video »


JJ Kinahan Talks Tastytrade, Growth Potential and Getting the Band Back Together

The last time JJ Kinahan attended the Options Conference he was with TD Ameritrade, which years before had bought the firm he worked for, Thinkorswim. Kinahan recently rejoined the owners of Thinkorswim in their new firm, tastytrade, as chief market strategist and vice president.

JLN interviewed Kinahan at the 2022 Options Conference about tastytrade. We also asked him about the impact of IG Group buying tastytrade.

Watch the video »

Lead Stories

Nodal Exchange And IncubEx Collaborate To Launch First-Of-Their-Kind Environmental Futures & Options
Nodal Exchange and IncubEx announced today the planned launch of new environmental products including several first-of-their-kind futures contracts in renewable energy credits, renewable natural gas certificates (renewable thermal certificates) and voluntary carbon offsets. The new Nodal Exchange products further expand the world’s largest exchange listed suite of environmental products.

Central Banks to Increase Gold Holdings Over Crisis Concerns
Yvonne Yue Li – Bloomberg
Central banks see gold as a reserve asset and will likely increase their holdings of the metal in the next twelve months, according to a survey by the World Gold Council.
That’s mainly due to increasing concerns about a possible global financial crisis, with central banks in emerging market and developing economies, or about a quarter of survey respondents, intending to add more bullion to their reserves. That’s an uptick from 21% in 2021.

Retail investors are at their most bullish ever on gold despite the strength of the dollar this year as inflation pressures built
Zahra Tayeb – Business Insider
Retail investors are more bullish towards gold than ever at the moment, even though the dollar is holding strong, as concerns about US inflation ramps up, according to data from European derivatives trading platform Spectrum Markets released on Wednesday.

Watch Does a Margin Meltdown Mean a Crash Landing for Stocks?
Bloomberg (Video)
Does a margin meltdown mean a crash landing for stocks? That was Tuesday’s question of the day posed to Kara Murphy, Kestra Holdings Chief Investment Officer, by Alix Steel and Guy Johnson on “Bloomberg Markets: Americas”.

Yellen Says Inflation Is Here to Stay While Target Is Cutting Prices. They’re Not at Odds.
Brian Swint – Barron’s
Treasury Secretary Janet Yellen is raising the White House’s forecast for inflation and says she expects it to “remain high.”
At the same time, Target said on Tuesday it will have to cut prices to shift inventory, further hurting profitability this year.

Billionaire Tom Siebel Warns of Inflation, Choppy Markets, Recession
Theron Mohamed – Markets Insider
Tom Siebel warned volatile markets are here to stay, underscored the inflation threat, and emphasized investors are facing a slew of challenges during Robert W Baird’s consumer, technology, and services conference this week.

Oil prices face big volatility as spare capacity dries up
Ahmad Ghaddar – Reuters
After more than a year of pressure from the United States and other top oil consuming countries, OPEC+ finally agreed to accelerate oil supply increases last week to tame runaway fuel prices and slow inflation.
But that will leave producers with very little spare capacity, and almost no room to compensate for a major supply outage.


Miami International Holdings and Lukka Enter into Strategic Alliance to Jointly Develop and Launch Crypto Derivatives
Miami International Holdings, Inc. (MIH), owner of Miami International Securities Exchange, LLC (MIAX ), MIAX PEARL, LLC (MIAX Pearl ), MIAX Emerald, LLC (MIAX Emerald ), Minneapolis Grain Exchange, LLC (MGEX™), and Bermuda Stock Exchange (BSX™), and Lukka Inc. (Lukka™) announced today that they have entered into a strategic alliance to jointly develop and launch a suite of proprietary crypto derivatives on MIH exchange platforms based on Lukka-supplied crypto data.

LME CEO Defends Cancellation of Nickel Contracts
Shanny Basar – MarketsMedia
Matthew Chamberlain, chief executive of LME, defended cancelling trades in nickel contracts in March despite lawsuits being filed against the London metal exchange’s decision.
The LME CEO spoke to Walt Lukken, president and chief executive of FIA, at the IDX conference hosted by the trade organization for futures, options and centrally cleared derivatives in London on 7 June.
Chamberlain said: “We fully understand the impact that these incidents have had on a broad spectrum of participants. I wouldn’t be sitting here unless I can put my hand on my heart and say we believe that the decisions that we made are in the interest of the market.”

BOX Options Market: Upcoming Enhancements To Complex Orders
Effective June 13, 2022, BOX Options Market LLC (“BOX”) will offer enhanced functionality for Complex Orders trading on BOX. Specifically, Participants will now have the ability to create Complex Orders with up to 16 legs.

Product Modification Summary: Expansion of Listing Schedule for all Cryptocurrency Futures and Monthly Options Contracts and Amendments to the Strike Price Listing Schedule for all Cryptocurrency Options Contracts – Effective June 27, 2022
CME Group
Expansion of Listing Schedule for all Cryptocurrency Futures and Monthly Options Contracts and Amendments to the Strike Price Listing Schedule for all Cryptocurrency Options Contracts

Cboe Global Markets Announces Date of Second-Quarter 2022 Earnings Release and Conference Call
Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, today said it will announce its financial results for the second quarter of 2022 before the market opens on Friday, July 29, 2022. A conference call with remarks by the company’s senior management will begin at 7:30 a.m. Central Time (CT), 8:30 a.m. Eastern Time (ET).

Regulation & Enforcement

SEC’s Gary Gensler Taking Aim at Payment-for-Order Flow With New Rules
Lydia Beyoud and Katherine Doherty – Bloomberg
Wall Street’s top regulator previewed a set of sweeping changes to rules underpinning the US stock market, setting up a major clash with some of the biggest names in equity trading.
Securities and Exchange Commission Chair Gary Gensler said he’d asked the agency’s staff to weigh the moves with the aim of making the $45 trillion US equities market more transparent and fair for retail investors. His plans could directly impact how firms including Citadel Securities, Virtu Financial Inc. and Robinhood Markets Inc. process many retail trade orders.

Robinhood Executive Attacks SEC’s Plans to Shake Up Stock-Trading Rules
Alexander Osipovich – WSJ
A top executive with Robinhood Markets Inc. blasted the Securities and Exchange Commission over its efforts to shake up the rules that govern U.S. stock trading, saying the market was functioning well for ordinary investors.
The comments from Robinhood Chief Legal Officer Dan Gallagher suggest that SEC Chairman Gary Gensler could have a tough time pushing through its plans, which grew out of last year’s frenzied trading in GameStop Corp. and other meme stocks.


Bear Market Rally Or Emerging Bullish Trend?
John Kosar – Forbes
The May 26th bullish shift in stock market internals, according to The Asbury 6, combined with too bearish investor sentiment, suggest that at least a Tactical (monthly) bottom and potentially a Strategic (one to several quarter) bottom is in place in the S&P 500 at its May 20th low. However, a sustained rise above S&P 500 4157, which is currently being tested, amid a sustained decline below 24.00 in the CBOE Volatility Index (VIX), would be necessary to help confirm the current US stock market rebound is not just a temporary bear market rally.

Stocks Rise As The Implied Volatility Melt Continues
Michael Kramer –
Tuesday was the opposite of Monday, with the S&P 500 dropping to start the day and rallying to end the day higher by 1ish%.
At this point, this has turned into one giant period of nothingness, and sideways consolidation, with the index, basically stuck between 4,090 and 4,160.

Will Ignoring Fundamentals Take Revenge On Bullish Traders?
While the Fed strives to tame inflation, short-term investors continue to ruin its efforts with bullish actions. Will their love of risk pay off?
With the S&P 500 enjoying a mid-day rally on Jun. 7 and the VanEck Junior Gold Miners ETF (NYSE:GDXJ) (proxy for junior gold and silver mining stocks) following suit, the bulls warmed up to the idea of a “soft landing.” However, with a much higher U.S. federal funds rate needed to cool inflation, the short-term optimism should be short-lived.

Investment Strategies Amid Volatile Markets (Radio)
Bloomberg (Audio)
Leo Kelly, founder, CEO, and partner of Verdence Capital Advisers, talks about investing and the economy in 2022. Hosted by Paul Sweeney and Matt Miller.


World’s richest families invest more in private equity amid volatile markets – UBS
The world’s wealthiest families put more money into private equity than in traditional asset classes like fixed income and stocks in 2021 as they sought to boost investment returns, an annual report by Swiss bank UBS (UBSG.S) shows.
Private equity posted stellar returns last year as trillions of dollars in pandemic-related stimulus prompted a record surge in deal-making with overall deal value in 2021 doubling from previous years, according to industry estimates.

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