THE JOHN LOTHIAN NEWS DAILY UPDATE – 11/12/2020

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

Luke Jeffs of FOW has a story about advanced talks, confirmed by four people with knowledge of the deal, between Goldman Sachs and Trading Technologies for Goldman to acquire TT. This follows up on Barron’s story of a week ago and confirms that talks are taking place, though no deal has been struck yet.

Chuck Mackie has been covering EXPO-V as he usually does with these types of events. Here is his day one coverage.

The folks at the CrossTower exchange are celebrating record trading volumes in October as they reached $150 MM total volume in only five months after the platform’s launch.

CNN reported that if Texas were its own country, it would be ranked among the world’s Top 10 countries in terms of total Covid-19 cases, according to Johns Hopkins data.

The U.S. set yet another daily record of coronavirus cases with 145K yesterday. Whatever happened to “flatten the curve?”

The Wall Street Journal reports that “the number of hospitalized Covid-19 patients reached 65,368, according to the Covid Tracking Project, passing the record set Tuesday for the highest number of hospitalizations since April.”

Benzinga followed up on The Dallas Morning News story about Nasdaq and other exchanges exploring a move to Texas with a meeting set for November 20 with Texas Governor Greg Abbott.

Here are the list of finalists for the Benzinga 2020 Global Fintech Awards. Apex Clearing is a finalist in two categories.

This is the ultimate way to end it all or at least 2020. A new Japanese theme park attraction lets guests zipline into Godzilla’s mouth. Check it out.

Yet again our JLN MarketsWiki Education GoFundMe campaign was shut out with no new donations. 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

 

First Read

FIA Expo: U.S. Treasuries’ 2020 March Madness
Thom Thompson – John Lothian News

Wednesday morning Kevin McPartland, head of research at Greenwich Associates, and his U.S. Treasury Market: Key Takeaways From March 2020 panelists dug into what happened in the market during that remarkable month.

The Managed Funds Association’s Ben Allensworth said that his members faced various pressures especially from the transitory dislocations between cash and futures and on-the-run and off-the-run cash Treasuries. Some got out of positions and some stayed in, as one would expect given the variety of strategies deployed by hedge funds.

To read the rest, go here.

++++

FIA Expo: Eurex CEO Michael Peters Weighs In On ESG, EU Equivalence
Suzanne Cosgrove – John Lothian News

Making his debut performance at an FIA conference Wednesday, Eurex CEO Michael Peters argued in favor of the drive toward environmental, social and corporate governance (ESG) products and weighed the pros and cons of the European Commission’s equivalence decision for UK CCPs.

To read the rest of this story, go here.

++++

FIA Expo: 2020 Was a Very Good Year – for ICE
Sarah Rudolph – John Lothian News

Far from being felled by the COVID pandemic – or anything else that has happened in 2020 – the Intercontinental Exchange had its best year in history in revenue and earnings and made its largest acquisition deal ever – which is saying a lot – by buying Ellie Mae two months ago.

To read the rest of this story go here.

++++

FIA Expo: Innovation on the Edges
Matt Raebel – John Lothian News

Jim Kharouf, communications director of IncubEx Inc., began “Innovation on the Edges” on Day 2 of FIA-V by saying “Happy Birthday” to the exchanges of each panelist present on the call. The Hong Kong Exchange (HKEX) is celebrating its twentieth year as a publicly-traded company; the Singapore Exchange (SGX) is twenty-one this year; and the Brazilian exchange Brasil Bolsa Balcao, or B3, is three years old. “But of course,” Kharouf said, “legacies for each go back way further.”

To read the rest of this report, go here.

++++

FIA Expo: Good Fragmentation vs. Bad Fragmentation
Thom Thompson – John Lothian News

Deborah North, partner at the law firm Allen & Overy, moderated the Wednesday morning panel titled “Is Market Fragmentation the Future?” at FIA Expo 2020. She was joined by Trabue Bland from ICE Futures U.S., Robert Booij from ABN AMRO, Erik Mueller from Eurex Clearing, and Nathaniel Lalone from Katten Muchin.

To read the rest, go here.

++++

FIA Expo: ESG Derivatives Evolve, But Growing Pains Remain
Suzanne Cosgrove – John Lothian News

Industry buzz about exchange-traded environmental, social and corporate governance (ESG) products has grown, but getting traction on ESG derivatives can be challenging, a panel of industry specialists said.

To read the rest, go here.

++++

FIA Expo 2020: Overview of Innovator Pitches
Matt Raebel – John Lothian News

The Innovator’s Pavillion is one of the most intriguing parts of FIA – a small, curated collection of starry-eyed startups aspiring to make their mark. On the first day of FIA’s virtual Expo-V conference, each of nine companies had the opportunity to give pre-recorded “demo day” style presentations to FIA Expo attendees before their “virtual booths” opened on Day 2. These presentations included Q&A rounds from judges.

To read the rest, go here.

++++

‘To Save Capitalism, We Must Help the Young’; Some surprising ideas from Deutsche Bank, a pillar of the German financial establishment.
Peter Coy – Bloomberg
Deutsche Bank AG may be the biggest bank in Germany, but that hasn’t kept its research arm from sounding a bit like Representative Alexandria Ocasio-Cortez, the lefty New York Democratic congresswoman, in the new issue of the bank’s magazine Konzept. The issue made headlines on Bloomberg and elsewhere for proposing a 5% tax on people who work from home, with the proceeds going to help low earners who aren’t able to work from home.
/bloom.bg/2K1s4nr

*****I can see it now, “Young Lives Matter!”~JJL

++++

FTSE – The Inside Story By Mark Makepeace, Founder And Former CEO, FTSE Russell Group – Herbie Skeete
Mondovisione
I have known Mark Makepeace for over 35 years. I was at Reuters and Mark was at the London Stock Exchange (LSE). The bit of Reuters that I was in – the market data bit – is now known as Refinitiv and it is ironic that Refinitiv is about to be acquired by the London Stock Exchange Group. Ironic, because back in the day Reuters and the LSE were deadly rivals. The LSE had a domestic equities information service, TOPIC, which was in competition with Reuter products. It took many years for Reuters to get close to TOPIC’s market share and Mark’s help in getting us to understand what the market wanted especially in information of the FTSE 100 constituents was a key part of our success. I must point out that the help Mark gave us was what he would give to any vendor carrying LSE data.
/bit.ly/38AQiyV

*****I love a good business book.~JJL

++++

Nasdaq, Other Exchanges To Meet Texas Governor Next Week To Explore Relocation Out Of New Jersey
Shivdeep Dhaliwal – Benzinga
Representatives of Nasdaq Inc (NASDAQ: NDAQ) and other major exchanges will meet with the Texas Governor Greg Abbott on Nov. 20 in Austin as they consider relocation of their trading platforms from New Jersey to Dallas, NBC 5 Dallas-Fort Worth reported Tuesday.
/yhoo.it/3nhLZN7

*****Smart reporting by Benzinga to follow up on a story stuck behind a paywall.~JJL

++++

New daily coronavirus cases in U.S. rise to 145,000, latest all-time high; Why experts say nationwide mask use is currently the ‘best strategy’ to combat coronavirus
Meryl Kornfield – Washington Post
In one week, new daily coronavirus cases in the United States went from 104,000 to more than 145,000 on Wednesday, the latest all-time high. Almost every metric is trending in the wrong direction as states add restrictions and health officials warn of a dangerous fall ahead.
/wapo.st/36rqsLa

****Wear a mask. Please.~JJL

++++

Wednesday’s Top Three
Our top story Wednesday was John Lothian News’ FIA Expo: CME Group’s Duffy is Sailing Smoothly in Uncharted Waters. Second was another John Lothian News FIA Expo story, FIA Expo: Tarbert Misses Opportunities in Keynote Address. Third was Yahoo News’ Loeffler, Perdue call on Georgia’s Republican secretary of state to resign.

John Lothian Newsletter

Today’s Newsletter

S&P Global Agrees to Buy IHS Markit for About $44 Billion

S&P Global Agrees to Buy IHS Markit for About $44 Billion

First Read $16,711/$300,000 (5.6%) Steve Auerbach, Guy Sheetz (and Anonymous x2) ++++ The Hemp Industry Has Room To Grow Thom Thompson - John Lothian News As the third nationally legal industrial hemp crop hits the market, it is clear that American producers,...

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

Now Read This

Pin It on Pinterest

Share This Story