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

Don’t forget to register for FIA Boca-V to be held on March 16 to 18. While there will be no golf or endless meetings by the pool, there will be great content from your industry peers sharing their latest thoughts about industry trends and happenings. JLN will be providing coverage as we have for other recent FIA virtual conferences.

There were no new donations to the JLN MarketsWiki Education GoFundMe campaign overnight, but the campaign is nearing 10% of our goal. Support our efforts to preserve industry history by donating to our GofundMe campaign.

Do you have a story to tell about The Path to Electronic Trading? How about the beginning of financial futures? Or were you an open outcry trader? Contact me and let’s talk about getting you interviewed for one of our series.

Would you like one of our “The World Needs Journalists” hoodies? I have some inventory. They are $45 plus shipping. Let me know. Speaking of hoodies, Bernie Sanders sold $1.8 million worth of merchandise with this picture of him in his mittens from the inauguration and donated it to charity.

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


A luxury condo in Brighton, East Sussex, U.K. has been listed for sale via bitcoin and Ethereum. The seller is a cryptocurrency entrepreneur. I’m not familiar with U.K. property taxes, but I imagine they are no more fun that the ones we have to do in the U.S. every year, and paying taxes on property you bought in bitcoin is sure to be even more vexing than the usual amount.~MR

First Read

FIA 2020 Volume Review Shows Global Growth, Geographic Evolution of Industry
Suzanne Cosgrove – John Lothian News

While activity in futures and options was undeterred by the pandemic in 2020, logging record volume for a third year in a row, a closer look at data produced by the Futures Industry Association shows a shift in recent years in where that volume occurred and what was most actively traded.

In a webinar held Wednesday, Will Acworth, senior vice president of publications, data and research at the FIA, acknowledged that much of the growth in 2020 derivatives trading was driven by nascent markets in India, China and Brazil.

In a ranking by 2020 volume, the National Stock Exchange of India (NSE) was the leading global exchange, followed by Brazil’s B3 at No. 2. CME Group was ranked No. 3, according to the FIA.

To read the rest of this story, go here.


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


Has time lost all meaning for you? Join the club; ‘Covid-19 is teaching us that the symbols and structures that give shape to our lives do not need to be set in stone’
Gillian Tett – FT
For the past few weeks, a guilty secret has been lurking in my living room: a pine tree, about nine feet tall, with silver and gold ornaments and a wonky star on top. Yes, our Christmas tree. Still.

*****Time has gone digital and moved from a tick to tock.~JJL


WallStreetBets Founder Reckons With Legacy; Jaime Rogozinski likens recent surge in GameStop shares to a ‘train wreck happening in real time’
Akane Otani – WSJ
The man who created Reddit’s WallStreetBets isn’t who you think he is. He’s 39 years old. He lives in Mexico City with his wife, a physician, and spends his weeks chasing after their 3-year-old twins and tending to his day job as a consultant—hardly the sort of character one might associate with the roiling investing forum. He never imagined the Reddit community he created in 2012 would morph into a force so powerful that it would send GameStop Corp. shares into overdrive, nearly topple a hedge fund and leave professional money managers around the country staring at Twitter with their mouths agape.

*****The market will write this legacy.~JJL


The New Virus Strains Make the Next 6 Weeks Crucial; “Let’s not wait until we wrap the car around the tree to start pumping the brakes.”
Ezra Klein – NY Times
I hope, in the end, that this article reads as alarmism. I hope that a year from now it’s a piece people point to as an overreaction. I hope. Coronavirus cases are falling. Vaccination numbers are rising. We are already jabbing more than a million people a day, which means President Biden’s initial goal of 100 million vaccinations in 100 days was far too conservative. In California, where I live, Governor Gavin Newsom lifted the statewide stay-at-home order. It feels like dawn is breaking.

*****I am going to start to wear two masks instead of just one.~JJL


Wednesday’s Top Three
Our most-read story Wednesday was the Financial Times’ Reddit traders wage battle against Wall Street. Second was The Wall Street Journal’s How GameStop’s Reddit- and Options-Fueled Stock Rally Happened. And for more Reddit and GameStop news, third was The New York Times’ Can Anything Stop GameStop?

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