Everyone is asking about bitcoin. A journalist called and asked to interview me. A magazine called and asked me to write something. A brokerage firm chief risk manager called to ask me my opinion about bitcoin and bitcoin futures. Two weeks...
futures commission merchants
Tayloe Draughon, Neurensic – Futures Industry AI and Machine Learning
"As you seek worlds of opportunity, look for areas in which there are problems, because if somebody is having problems, there are going to be opportunities." Recent advancements in technology have led to a monstrous spike in trades and trade messaging. Meanwhile, new...
Utility Player: FIS’ John Avery Sees the Derivatives Utility as a Driver of Innovation
In June of 2015, SunGard, now part of FIS Global, launched its post-trade derivatives utility, which aims to standardize back and middle office operations and technology, with Barclays as its first customer. According to FIS' John Avery, it is not about...
Getting Squeezed: Introducing Brokers Numbers Waning, Growth Wanting, Future Questioned
New Introducing Broker numbers hit historical low; IB Numbers Shrink 17 percent Since Financial Crisis There is a funny story about former MF Global CEO Jon Corzine, when he held his first all company conference call with employees. He said he was impressed with how...
It Ain’t Broke, but We Fixed it Anyway: A Letter to the Editor
Dear Sirs,Last week in this column, Jim Kharouf, one of my friends in the industry, referred to the “broken” FCM model. Having had a front row seat to the travails of operating an FCM over the past 10 years, I take exception to the word “broken.” While the FCM model...
Pipelines: Nick Solinger Talks Market Infrastructure for SEFs
It's been a historic year for swap execution facilities as more were launched in the wake of Dodd-Frank rulemaking by the Commodity Futures Trading Commission. Nick Solinger, head of product strategy and chief marketing officer of Traiana, said that its been a good...
Extreme Makeover: Gary DeWaal Says FCM Landscape has to Change
The futures commission merchant (FCM) space is likely to change dramatically in the coming years. How is the question. John Lothian News sat down with Gary DeWaal, of Gary Dewaal Associates, for his views on the shape of the brokerage industry in the coming years....
Residual Interest Rule Cometh
The Commodity Futures Trading Commission took up the issue of enhanced customer protections today, finalizing a rule that would require futures commission merchants (FCMs) to adopt new risk management programs that relate to operations, capital and customers fund...
John Lothian Newsletter: SEC Proposes New Exchange Tests to Curb Computer Breakdowns; Swaps Trade Group Hires Consultant Amid Probe; New clearing rules have already been broken, FCMs say
The SEC proposes a new testing regime to evaluate the ability of exchanges and brokerages to recover from natural and terrorism-related disasters. As regulatory scrutiny of the ISDAfix swap rate increases, the ISDA brings in a consultant to evaluate whether there’s a...
NFA Chairman Chris Hehmeyer Talks Bankruptcy Reform
One of the issues that emerged from the MF Global collapse was the complex and often frustrating US bankruptcy process. In the case of MF Global, futures customers’ claims were lumped in with other creditors. As such, it took more than a year for customers with...
Ratings: How Does Your Broker Rate?
If you knew the financial health of your futures broker, would that help you decide which firm to work with? James Gellert, President and CEO of Rapid Ratings, says futures broker ratings could make for more informed retail and professional investors. Gellert explains...
Ryan Baccus of Sapient on Dodd-Frank Compliance and the Clearing Connectivity Standard
Ryan Baccus is vice president of market infrastructure and initiatives at Sapient Global Markets, a capital markets consulting firm. His work with MII involves advising clients on regulatory reporting, clearing, collateral management and general compliance issues. He...
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Confidence in German Capital Markets Has Been Shattered; Lessons From Europe’s Covid Surge: Control Is Fragile and Losing It Is Easy
Confidence in German Capital Markets Has Been Shattered; Lessons From Europe’s Covid Surge: Control Is Fragile and Losing It Is Easy
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Wall Street Dealers in Hedging Frenzy Get Blamed for Volatility; Bitcoin Options Market Suggests Investors Preparing for All-Time High
Wall Street Dealers in Hedging Frenzy Get Blamed for Volatility; Bitcoin Options Market Suggests Investors Preparing for All-Time High
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