John Lothian

John Lothian

Executive Chairman and CEO


The John Lothian Daily Update is a podcast turning the daily JLN hits and takes comments, our original content and the stories and quips in the top box of First Read into a daily podcast.


Hits & Takes

JLN Staff

The U.S. has surpassed the 25 million Covid-19 infections level, according to data reported Sunday by Johns Hopkins University.

JPX has signed a memorandum of understanding, or MOU, with the Shanghai Stock Exchange and the Shenzhen Stock Exchange to expand creation and trading in ETF securities.

The New York Times is reporting the IRS has moved back the date upon which it will start to receive tax returns by two weeks to February 12. However, the date by which the returns are due is still April 15, which is unchanged from the norm.

The CFA Society Chicago is putting on a Zoom event titled “Libor Cessation” that includes Dr. Richard Sandor among the speakers. The date of the event is February 1, 2021 from 4 PM to 5 PM.

Tradebot and BATS founder Dave Cummings posted to LInkedIn that his daughter, Nicole Cummings, is starting work at Blackstone.

The CFTC’s newly formed Division of Data is searching for an attorney to manage the team in charge of setting agency-wide data policies and implementing reporting regulations.

We have had a new donation for our JLN MarketsWiki Education GoFundMe campaign – Denise Knabjian of the OCC. Denise joined the OCC in 2001 and has worked her way up to the managing director level for investor education. She is also a member of Women in Listed Derivatives, where she is a member of the board of the Chicago chapter. Thank you to Denise and all who have given and all those who have yet to give. Support our efforts to preserve industry history by donating to our GoFundMe campaign.

Have a great day and stay safe and treat people the same way you want to be treated: with respect, equality and justice.~JJL


On the “tense, unprecedented and highly militarized Inauguration Day” our friends at professional information provider Wolters Kluwer published a free special report titled “Biden inauguration heralds regulatory reset.” Their deep roster of reporters, analysts and lawyers cover the gamut of federal regulation, from taxes to government contracting. The report includes an outlook for securities regulation (starting on page 5) as well as commodities and derivatives (starting on page 37) under the incoming Biden administration. The report can be downloaded from the Wolters Kluwer site here. ~Thom Thompson

The World Economic Forum‘s annual meeting begins today, January 25. Traditionally held in Davos-Klosers, Switzerland, it’s usually attended only by A-list global movers and shakers, but this year COVID-19 has forced it to go virtual so it’s open to everyone. Chinese President Xi Jinping, German Chancellor Angela Merkel, ECB President Christine Lagarde and Dr. Anthony Fauci are among the expected speakers at the weeklong event. Listen to the livestreamed broadcast here. ~SC

One of the panels on the first day of the Davos Forum is on “Resetting Digital Currencies” and will feature Bank of England Governor Andrew Bailey and Western Union CEO Hikmet Ersek, according to Coindesk. A second “Resetting Digital Currencies” panel will be held on Thursday.~SR


First Read

The Spread: New Beginnings

This week on The Spread, Gary Gensler is nominated by President Joe Biden to be Chairman of the SEC, TT gets a new CEO, and more.

Watch the video »


Sponsored Content
【Special Report】 First year anniversary workshop of TOCOM/JPX Electricity Futures


Asia’s Most Successful Electricity Futures at Tokyo Commodity Exchange (TOCOM)/Japan Exchange Group (JPX) celebrated its first year of listing in a co-hosted webinar with Quick Corp. on December 15, 2020. The event was attended by over 250 people from 152 companies.

At the workshop, Mr. Hatakeyama, Director-General for Commerce and Service Industry Policy of METI gave an opening remarks and Mr. Ishibashi of Astmax Trading, Inc. gave a keynote speech on Electricity trading and Risk management. In the panel discussion, traders from different power companies shared their experiences in using TOCOM Electricity Futures and their internal risk control systems. They pointed out that there is still a huge opportunity in Electricity Futures market in Japan and requested the exchange to list new products such as those covering the Hokkaido and Kyushu areas and change the product design to extend contract months.

For more details, please refer to the following link


Ken Griffin’s Citadel Securities reaps record $6.7 billion on volatility; The surge came after some of its traders decamped from Chicago and New York to set up shop in a Palm Beach hotel in late March as the pandemic upended lives and markets across the globe.
Citadel Securities went from strength to strength in 2020, as the pandemic spurred wild swings across finance. To cap the tumult, Ken Griffin’s firm, one of the world’s biggest market makers, just posted record revenue—some of it from a rapidly constructed Florida trading floor.

*****But other than that, how did they do?~JJL


Dropping WhatsApp? Nostalgia Drives Users to ICQ; Before social media was about algorithms and viral misinformation, kids in Hong Kong loved a clunky instant-messaging service used on dial-up PCs. Now they’re grown up, and back.
Newley Purnell and Joyu Wang – WSJ
WhatsApp users around the world who are worried about the company’s shifting policy on data privacy are flocking to rival messaging apps such as Signal and Telegram. In Hong Kong, some are choosing an alternative that reminds them of their childhood—before algorithms, Big Tech and viral misinformation. ICQ was a pioneering, mid-1990s internet messaging service then used on bulky PCs on dial-up. It was a precursor to AOL Instant Messenger, and was last in vogue when the TV show “Friends” was in its prime and PalmPilots were cutting edge.

*****The ICQ channel, #Futures, was co-founded by MarketsWiki co-founder Jon Matte.~JJL


China pushes conspiracy theories on COVID origin, vaccines
Huizhong Wu – AP News
Chinese state media have stoked concerns about Pfizer’s COVID-19 vaccine, despite rigorous trials that showed it was safe. A government spokesperson has raised the unfounded theory that the coronavirus could have emerged from a U.S. military lab, giving it more credence in China. As the ruling Communist Party faces growing questioning about China’s vaccines and renewed criticism of its early COVID-19 response, it is hitting back by encouraging conspiracy theories that some experts say could cause harm.

*****Fake news going global.~JB


Friday’s Top Three
Our top story Friday was The Trade’s Brazil’s B3 overtakes CME Group in rankings for largest derivatives exchange. Second was the press release Nasdaq Appoints Jeremy Skule Chief Strategy Officer. Third was the FIA’s report, Global futures and options trading reaches record level in 2020.


John Lothian Newsletter

Today’s Newsletter

Libor’s Final Days Begin With Push to Shake Up Swaps Market

Libor’s Final Days Begin With Push to Shake Up Swaps Market

First Read $51,906/$300,000 (17.3%) ++++ Hits & Takes John Lothian & JLN Staff The SEC issued an "Opinion of the Commission" on Monday in a case between ABN AMRO Chicago LLC and Chicago Board Options Exchange, Inc. and C2 Options Exchange, Inc. Here is a...

We visit more than 100 websites daily for financial news (Would YOU do that?)

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The Spread – July 23, 2021

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