Regulation & Enforcement
ICE’s Chris Edmonds Expands on Crypto Commentary in JLN Video Interview
Last Friday John Lothian News interviewed ICE Chief Development Officer Chris Edmonds about the commentary he wrote that JLN published and why he wrote it and what he was trying to accomplish.
We asked him what lessons were learned from the BAKKT experience and what was ICE trying to accomplish with the exchange and clearing offering and what didn’t work?
Edmonds said the lesson learned was that the market did not want a physically delivered bitcoin contract.
David Weild Speaks to JLN About the JOBS Act and What it Accomplished and the Challenges We Still Face
David Weild, chairman of Weild & Co., Inc., played a significant role in helping create the environment for and passing of the JOBS Act, which transformed the way companies can raise money in U.S. markets. John Lothian News interviewed Weild for a podcast about...
Josh Sterling of Jones Day talks with John Lothian News about NFTs, DeFi, and the role banks play related to climate change
Josh Sterling, a partner with Jones Day specializing in commodities and derivatives law, spoke with John Lothian News about his work helping trading platforms address strategic enforcement, regulatory, and transactional matters.
CFTC Chairman Behnam Speaks to JLN at FIA Boca
John Lothian News interviewed CFTC Chairman Rostin Behnam at the FIA Boca conference.
Exchange Analytics’ Joe Adamczyk Interviewed by John Lothian On the Road in Sarasota
During my recent trip to Florida, I met up with Joe Adamczyk, the owner of Exchange Analytics, to talk about the firm, its history and future.
Adamczyk relocated to Sarasota, Florida to get away from the harsh winters of Chicago. I met up with him in a Panera on the south side of Sarasota. I asked him just six questions and let him talk. He told me about the history of the firm, why it was started and how he got involved.
Is the era of the traditional FCM model coming to an end?
No, at Abaxx Exchange we don’t believe the era of the traditional FCM model is coming to an end, nor should it be. However, the recent Risk.net article “Brokers slam CME over ‘conflict of interest’ in FCM plan’ made us realize that not everyone may feel the same way, and we need to make our case for the raditional FCM model.
Some exchange groups ranging from the largest that date back more than a century to the digital asset focused upstarts have asserted that risk mutualization processes — currently favored and handled by FCMs — can and should be disintermediated.
SEC Rule to Promote Order Competition the Focus of Hitesh Mittal JLN Interview
Hitesh Mittal, the CEO and founder of BestEx Research, talked with JLN in a video interview over Zoom, reflecting on the recent comments by SEC Chairman Gary Gensler about promoting more competition in the market.
CFTC Chairman Rostin Behnam Gears Up for Full CFTC
Rostin Behnam had the advantage of being a CFTC commissioner since 2017 before being confirmed as chairman in December of 2021, giving him insight into the organization and good working relationships with its staffers.
JLN spoke to Behnam at the International Futures Industry Conference in Boca Raton, Fla., about the start of his chairmanship and what he hopes to accomplish.
John Damgard – The History of Financial Futures
Longtime Washington Hand Who Led FIA, Reflects on the Start of CFTC, FIA and NFA as Financial Futures Began
John Damgard spoke in 2019 to John Lothian News for The History of Financial Futures video series, when he was attending the FIA conference in Boca Raton.
John Damgard was a key player in creating the Commodity Futures Trading Commission (CFTC) in the 1970s. Many reasons pointed to the need for a regulator with greater capabilities than those of the Department of Agriculture, which had meager resources available for overseeing the agricultural futures of the day.
Book “Regtech, Suptech and Beyond” Looks at Technological Solutions for Regulatory Oversight
There is a new book out from Risk Books titled “Regtech, Suptech and Beyond.”
The book is a compendium of chapters addressing technology and innovation in regulatory and supervisory oversight in financial services. Different authors explore the emerging best practices in regulatory oversight and financial services that leverage technological solutions.
SEC Special Counsel Laura Harper Powell collaborated with the former President of ICE Trade Vault and current President and Founder of CoinReg Tech Bruce Tupper on a chapter in the book focusing on CFTC regtech implications for virtual currency trading.
FIA Expo 2021 Video: CFTC’s Stump Corrects Misperceptions, Talks Politics
CFTC Commissioner Dawn Stump rolled her eyes when asked who regulates cash cryptocurrency markets.
Speaking to John Lothian in a video interview following her keynote address last week at the FIA Expo, Stump said the question is “an unfortunate example” of what she sees as an ongoing mission to correct confusion over what agency regulates what entity.
The History of Financial Futures: Doug Harris Provides an Insider’s Look at Industry Innovation
Douglas E. Harris not only can talk about the History of Financial Futures, he was a part of its development.
In this video interview with John Lothian, Harris traces his beginnings in the industry back to 1975, when he began work as an associate for the then-small law firm Baer Marks & Upham and was assigned helping exchanges including Comex determine what rules it would need to file to the Commodity Futures Trading Commission, then in its infancy.
Analysis: What Can We Learn From the DOJ’s Latest Spoofing Conviction?
“I know how to game this stuff.” “One can definitely manipulate if you’re aggressive.” “If you spoof this it really moves.” These excerpts from online chats among traders and hedge fund managers more than a decade ago played a key role in the Justice Department’s successful prosecution of two Wall Street traders in the latest trial to take on ”spoofing,” a form of market manipulation that was criminalized in the 2010 Dodd-Frank Act.
SEC Commissioner Allison Herren Lee Addresses PFOF, Retail Trading and Crypto at STA Conference
In an interview Wednesday at the 88th Annual Security Traders Association Conference, SEC Commissioner Allison Herren Lee said she appreciated Gary Gensler, who testified Tuesday at the House Financial Services Committee oversight hearing, for “rolling up his sleeves” to address the complex issues facing the financial industry, such as payment for order flow (PFOF) and exchange for rebates.
Higher Bond Yields, Energy Fuel Continued Market Volatility at Quarter End; John’s Take Looks at Recent CFTC Action; Why VVIX Matters – The Spread – October 1, 2021
– Stock market volatility continues to chug higher; Energy prices are hot;
– John’s Take walks us through the CFTC’s filing against 14 crypto options businesses;
– A timely look at the VVIX, the volatility of volatility with Russell Rhoads in the Term of the Week.
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Gold Bars and Tokyo Apartments: How Money Is Flowing Out of China
First Read Hits & Takes John Lothian & JLN Staff Today is GivingTuesday. According to the official GivingTuesday website, "GivingTuesday was created in 2012 as a simple idea: a day that encourages people to do good." I encourage you to make a donation to your...
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The Spread
A Deeper Dive into 0DTE Options trading: Jonathan Zaionz, Senior Derivatives Analyst at Cboe Global Markets and Author of “The Rise of SPX & 0DTE Options,” Discusses 0DTE and More in this Options Discovery Full Interview
In this Options Discovery full interview, Asma Awass speaks with Jonthan Zaionz, a senior derivatives analyst at Cboe Global Markets who recently had his paper, “The Rise of SPX & 0DTE Options” published.
Goldman Says Sharp Drop in Volatility Is Opportunity for Hedging
Observations & Insight Nasdaq's Kevin Kennedy Discusses GEMX Launch on AWS Cloud, Highlights Latency Improvements and Future Cloud Migration Plans JohnLothianNews.com Nasdaq has been moving its markets to the cloud, and it recently announced GEMX had moved to its...