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
Don’t miss the Derivatives Forum Frankfurt 2021. It has a whole bunch of different speakers than last week’s FIA Boca and is a great perspective on European and global market issues. Here is the agenda. It is going on right now.
Do you need a reason to get the COVID-19 vaccine? Well, Krispy Kreme donuts has offered one free donut every single day of 2021 to people who get the vaccine. No purchase is necessary, but I dare anyone to try to walk out of the store without buying a dozen Krispy Kreme donuts.
Last weekend saw the greatest number of people flying since the pandemic hit a year ago. The Associated Press reported there were 1.5 million travelers around the world taking to the air. Just don’t go to the Philippines, where there was a record number of COVID-19 cases announced.
Facebook announced they only removed 1.3 billion fake accounts in the months surrounding the 2020 U.S. election. That is a lot of fake friends. My best friend is a bot.
Goldman’s David Solomon said junior bankers might be able to take Saturdays off. Citigroup’s Jane Fraser banned Zoom calls on Friday and set May 28 for a firmwide holiday to be known as “Citi Reset Day.” Take that Goldman!
So much for “banker’s hours.”
500 Startups is holding an online fireside chat with entrepreneur Jeremie Bacon where he will discuss why it’s essential startups focus on environmental stewardship from day one, where to get started and common pitfalls to avoid, advice for communicating on ESG with investors, customers and suppliers, and ensuring ESG compliance in your supply chain. The event is on Wednesday, March 24, at 6 p.m. CDT.
There were no new donations to the JLN MarketsWiki Education GoFundme campaign yesterday. We have had 138 online donations so far. Support our efforts to preserve industry history by giving to our GoFundme campaign.
I have never smoked or consumed cannabis, which makes me one of 12 people in the U.S. eligible to work in the White House.
Have a great day and stay safe and treat people the same way you want to be treated: with respect, equality and justice.~JJL
The Cboe Options Institute on Wednesday hosts industry pros Jon Havice and Eric Metz to talk about the use of cash-secured put writing of index options by money managers, pension funds and others. To join the discussion at 11 a.m. Chicago time, register
Goldman CEO Vows to Better Protect Junior Bankers’ Saturdays Off
Jennifer Surane – Bloomberg
Solomon says he’ll hire more, beef up staffing where needed; He praises analysts who alerted managers to hundred-hour weeks
Goldman Sachs Group Inc.’s David Solomon vowed his firm would try harder to ensure junior bankers get at least one day off a week after a group of analysts raised an alarm about increasing burnout among the group.
*****I tell you, this Goldman CEO has the wisdom of Solomon.~JJL
How Chicago became the Silicon Valley of pot; For the first time in a generation, Chicago is the early leader in a fast-growing new industry that’s generating jobs and wealth.
John Pletz – Crain’s Chicago Business
Call Chicago the capital of Big Weed. The city is home to three of the five biggest public companies in the United States that grow and sell marijuana: Green Thumb Industries, Cresco Labs and Verano Holdings. “Chicago in a sense is Silicon Valley” for the pot business, says Kayvan Khalatbari, a cannabis consultant from Denver who advised Cresco on its original license application.
*****From stinky onion to big weed.~JJL
TD Ameritrade and Dash Financial Technologies Executives Join OCC Board of Directors
OCC, the world’s largest equity derivatives clearing organization, today announced two new members of its Board of Directors: JJ Kinahan, Chief Market Strategist and Managing Director of Trading and Education at TD Ameritrade, and Peter Maragos, co-founder and Chief Executive Officer of Dash Financial Technologies. “We are pleased that JJ and Peter are adding their expansive industry knowledge and experience to our Board of Directors,” said Craig Donohue, OCC Executive Chairman. “As veterans of the U.S. equity options industry, their expertise will support OCC’s continued resiliency and innovation as we work to fulfill our mission of ensuring confidence in the global financial markets.”
*****Two excellent choices.~JJL
Cboe Promotes Catherine Clay to Executive Vice President, Will Lead Newly Created Data and Access Solutions Division
Cboe Global Markets, Inc. (Cboe: CBOE), a market operator and global trading solutions provider, announced today the promotion of Catherine Clay to Executive Vice President, from Senior Vice President, Information Solutions, and the creation of a new Data and Access Solutions division within the company, which Clay will lead. She has also been appointed to Cboe’s Executive leadership team.
*****Nice to see women leaders at Cboe ascendant. They have a lot of talent there.~JJL
Trading Technologies Launches Connectivity to Athens Stock Exchange for Derivatives Trading Via the TT Platform
Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, and the Athens Stock Exchange (ATHEX), the national exchange of Greece, today announced that all derivative products listed on the ATHEX Derivatives Market are now available for trading through the TT platform and accessible to TT’s global user base.
*****Now we know why Tim Geannopulos was hired by TT to be the CEO, to get the Athens Stock Exchange deal done. Ooopa!
Krispy Kreme will offer free doughnuts—all year long—to people with COVID-19 vaccination cards
Chris Morris – Fortune
Krispy Kreme is upping the incentives for people to get their COVID-19 vaccine.
The chain says it will offer a free original glazed doughnut to anyone who shows their vaccination card for the rest of 2021, starting today. And the offer is not a one-time deal.
*****The thing is though, you have to leave your house.~JJL
How to use Zoom Escaper, a sneaky tool for sabotaging your own video calls
Alison DeNisco Rayome – CNET
Tired of the endless parade of Zoom meetings, and the anxiety they can cause? Enter Zoom Escaper, a tool that allows you to sabotage your own audio call with the urgent sounds of a barking dog, crying baby, construction noise or wind, giving you the perfect excuse to drop off a call.
*****I don’t need to fake the barking dog sound. Indy won’t shut up.~JJL
Monday’s Top Three
The top-read story on Monday was again the John Lothian News page of Jack Sandner Remembrances, which had new additions over the weekend. The second most popular was also from JLN, Thom Thompson’s story, Coinbase Hit With $6.5 Million Fine By CFTC; Market Debut Rumored to Be Delayed. And third most clicked story was Bloomberg’s Catastrope Debt Market Gets First Dedicated Volcano Bonds.