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

Chris Hehmeyer is merging his firm, Hehmeyer, LLC, with Nortide, creating Hehmeyer Nortide AG. The new firm of crypto market makers will unite to attempt to deliver better prices and service to clients and counterparties.

FIA’s president and CEO has penned a letter to President Biden titled “FIA letter to President Biden highlights priorities and opportunities.” The op issues include market access, regulatory harmonization, innovation and sustainability. Nice to see Walt so productive in the laundry room.

Last summer Quaker Oats announced they would be changing the name of their Aunt Jemima brand. The new name is The Pearl Milling Company.

OSTC and Evenbreak have announced a partnership to promote employment equity for disabled workers. OSTC deserves a nice pat on the back for this effort.

There were no new donations to the JLN MarketsWiki Education GoFundMe campaign yesterday. We have had 123 donations and just over $30,000 given to the campaign, including a couple of donations given outside the GoFundMe app.

Sometime today MarketsWiki will pass the 200 million pageview mark. You can see the pageview counter right on the front page of the site.

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


Here is New York Stock Exchange President Stacey Cunningham‘s op-ed in the Wall Street Journal titled “The NYSE Isn’t Moving—Yet” about the threat from the revived transaction tax on stocks. ~SR


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We look forward to welcoming you on March 23.


Hehmeyer to Merge with Nortide, Creating Hehmeyer Nortide AG
Hehmeyer LLC
The complementary crypto market makers unite to deliver better prices and a superior service to their clients and counterparties
Hehmeyer LLC, a Chicago-based market maker in digital assets, today announced its agreement to merge its electronic liquidity provision business with Nortide Capital AG (with its operational subsidiaries Nortide Trading AG and Nortide Brokerage AG), a Swiss-based market maker in digital assets. The new firm, Hehmeyer Nortide AG, will dedicate itself to serving users of cryptocurrencies globally and will be headquartered in Zug, Switzerland.

***** Hehmeyer goes global and we might see Chris Hehmeyer real estate shopping in Zug.~JJL


We must vaccinate the world — now; The cost of jabs for all would be a rounding error; it is also the only way to end the pandemic for good
Martin Wolf – FT
The world economy is recovering from the depths of the Covid-19 crisis. But that crisis will not depart for good until the pandemic is under control. Since the virus knows no frontiers, it cannot be under control anywhere unless it is under control everywhere. The alternative is for us to remain inside national prisons indefinitely. Alas, that is what we risk if leaders do not raise their gaze from their own countries.

*****There is but one mission. To save human beings from this pandemic. So this is the right thing to do.~JJL


Man Who Spent $446 Million on Pizza Has Advice for Tesla Fans
Olga Kharif – Bloomberg
Hi, Olga here. Laszlo Hanyecz said he wouldn’t spend his Bitcoins on a Tesla. Hanyecz knows what he’s talking about: In 2010, he paid 10,000 Bitcoins, worth about $446 million at current prices, for two pizzas. It was the first known commercial transaction of cryptocurrency. Back then, Bitcoin’s price stood at less than a penny. It hit an all-time high of about $47,000 on Tuesday, the day after Tesla Inc. said it bought $1.5 billion in Bitcoin and will accept the digital currency for the purchase of cars.

*****When I was a small boy and would take baths in the bathtub, there was a soap we would use called Mr. Bubbles. From now on when I think of Mr. Bubbles, I will be thinking of Elon Musk.~JJL


Do Fed Policies Fuel Bubbles? Some See GameStop as a Red Flag; Analysts warn that low-interest rates are promoting speculative bubbles. The Fed itself has downplayed the possibility that it’s behind asset prices.
Jeanna Smialek and Matt Phillips – NY Times
Before it fueled the run-up in GameStop’s stock, WallStreetBets, the Reddit message board, had another claim to fame: It helped popularize a series of memes centered on the Federal Reserve chair, Jerome H. Powell, and his central bank’s policy of keeping interest rates near rock bottom while buying government bonds to bolster the economy.

*****After the GameStop episode, there is a shortage of red flags in the U.S.~JJL


Reddit user who appeared to tip Tesla’s Bitcoin buy reveals himself as a German prankster on Acid
Bhargav Acharya – Reuters (via Financial Post)
A Reddit user who claimed in a post a month ago to be a Tesla Inc insider and knew about the electric car maker’s purchase of Bitcoin said on Tuesday that his assertions were not true.
The user’s original post stating Tesla was buying bitcoin drew little attention when it appeared Jan. 2. But it received a second look this week after the electric carmaker and its CEO Elon Musk disclosed a US$1.5 billion investment in the cryptocurrency that sent bitcoin to fresh highs.

*****I always dream of bitcoin when I have acid reflux.~JJL


OSTC And Evenbreak Announce Partnership To Promote Employment Equity For Disabled Workers
OSTC, one of the world’s leading derivatives trading and education companies, has today announced a partnership with the disability job board Evenbreak to promote employment equality for disabled workers.

*****Nice work, chaps.~JJL


Tuesday’s Top Three
Our top story Tuesday was CBS This Morning’s Alex Kearns died thinking he owed hundreds of thousands for stock market losses on Robinhood. His parents have sued over his suicide. Second was Crain’s’ Gamestop Fueled Lawsuits Could Force Citadel to Pry Open Its Black-box. Third was the Wall Street Journal’s Hong Kong Exchanges Names JPMorgan’s Nicolas Aguzin as CEO. Nicolas Aguzin was also our MarketsWiki Page of the Day yesterday.


John Lothian Newsletter

Today’s Newsletter

Central banks step up fightback against cryptocurrencies

Central banks step up fightback against cryptocurrencies

First Read $49,706/$300,000 (16.6%) ++++ Hits & Takes John Lothian & JLN Staff Would you like to serve the futures industry in the U.S. to preserve the self-regulatory structure? The NFA is seeking committee members and arbitrators. More details are HERE....

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

Now Read This

The Spread – June 18, 2021

The Spread – June 18, 2021

Inflation really is a thing; Small traders are still big; John Lothian weighs in on the current trading landscape; and Nasdaq wins the May options market share race. All in this and the debut of the options “Term of the Week” in The Spread.

Walt Lukken and Nick Solinger Explain FIA Tech Investor Deal

Walt Lukken and Nick Solinger Explain FIA Tech Investor Deal

FIA Tech announced yesterday a deal to take on 10 global banks as investors in the company in order to grow the for-profit FIA-affiliated firm. John Lothian interviewed FIA Chairman and CEO Walt Lukken and FIA Tech President and CEO Nick Solinger over Zoom about the deal. 

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