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

We had a new donation to the JLN MarketsWiki Education GoFundMe campaign on Friday for $1,000 from anonymous. However, it turns out anonymous was really Sterling Trading Tech and they did wish to let it be known they are supportive of our efforts to preserve industry history with our video series. They also appreciated their competitor Trading Technologies matching their donation. Support our efforts to preserve industry history and have your donation to our GoFundMe campaign matched by TT.

The videos from the Eurex Derivatives Forum Frankfurt 2021, held on March 23 and 24, are now available here.

The Washington Post is reporting that “John Naisbitt, futurist and best-selling author of ‘Megatrends,’ dies at 92.” He was very influential during my years in college and his work was very popular. It helped me look at the big picture, or “megatrends” and I am sure helped influence the creation of this newsletter.

FIA is hosting an online webinar on May 6, from 9:30 a.m. to 11:00 a.m. SGT, titled Commodities in the current volatile environment.

At SGX, total securities market turnover value on SGX increased 50% month-on-month (m-o-m) in March to S$38.7 billion, the highest since March 2020.

Peter Johnson of Jump Trading reported on LinkedIn that it was another big week for Jump with the following happenings:
Acquisition of Jump portfolio company HubTran by TriumphPay announced, Coinbase joins the DeFi Alliance (co-founded by Jump), Pyth DeFi data oracle announced bringing institutional grade data to DeFi, New The Jump Off Point podcast featuring Dave Olsen and Sam Bankman-Fried discussing the institutionalization of crypto and announcing Pyth and a new blog from Yelena Shkolnik on Composable Commerce.

I really like the way that the FIA has been rolling out the longer versions of the Hall of Fame videos for each of their recent inductees. The latest person they highlighted was Gay Huey Evans, the chair of the London Metal Exchange. These longer videos were produced courtesy of John Lothian Productions and all the Hall of Fame videos are narrated by Patrick Lothian. We contracted with FIA to produce the shorter videos they showed during the Hall of Fame ceremony during FIA Boca-V. However, we produced the longer versions as part of our efforts to tell industry history. We appreciate FIA giving us the opportunity to produce these videos on their behalf.

Shawn R. Somers is now head of NY ICE Futures U.S. Market Regulation at ICE, according to LInkedIn.

Congratulations to golfer Hideki Matsuyama, the first Japanese golfer to win the Masters Tournament.

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

OCC reports highest volumes in its history in Q1 2021; CFTC cracks down on binary options – The Spread

This week on The Spread, the OCC and several major exchanges report trade volumes, the CFTC orders a Brooklyn man to pay $1 million in penalties over a binary options scheme, and more.

Watch the video »



Episode 9: Investing in Innovation
Technological innovation could transform derivatives markets, but how do you identify technologies with true potential, and what parts of the trade lifecycle are most in need of a tech upgrade? Industry veteran Mark Beeston, founder and partner at Illuminate Financial, shares his perspective.

*****Business is about two things: innovation and marketing.~JJL


TP ICAP Launches Parameta Solutions
TP ICAP Group plc
TP ICAP Group plc (“TP ICAP”), a diversified global markets infrastructure and data solutions provider, today announced that it has launched the brand Parameta Solutions. Parameta Solutions is the new identity of TP ICAP’s data and analytics and post-trade offerings. The business provides clients with unbiased OTC content and proprietary data, in-depth insights across price discovery, risk management, benchmark and indices and pre and post-trade analytics. Its nascent post-trade solutions offering will help market participants control counterparty and regulatory risks through a growing range of tools that manage balance sheet exposure, as well as compression and optimisation services.

*****Branding on branding on branding.~JJL


On the matter of virtual conferences; The strengths and weaknesses of the online exchange of ideas.
Daniel W. Drezner – Washington Post
This week on Earth 2, my doppelganger would be explaining the dearth of Spoiler Alerts columns because of his attendance at the International Studies Association (ISA) annual meeting. On that Earth, ISA would be held in Las Vegas for the first time, a year after being held in Honolulu. These sites would have stood in marked contrast to the more traditional (and less expensive) locales in which ISA has held its conferences in the past: Baltimore in February, Toronto in March; you get the idea.

*****There are some strong reasons to continue to hold online conferences and incorporate elements of the online conferences into the in-person conferences. What is the question?~JJL


The Wall Street Journal’s Internal Audit; A look at what the newsroom’s internal study — The Content Review — concluded about the paper’s faults.
Edmund Lee – NY Times
For over a year, a special team of editors within The Wall Street Journal analyzed the state of the newsroom and produced a detailed, lengthy report on what the paper is doing right, and, more important, what the paper is doing wrong. The stakes are high. Subscriptions to The Journal are growing — but not fast enough. News Corp, the company that owns The Journal, wants the broadsheet to double its readership. The study, called The Content Review, concluded that that goal would be difficult without sweeping changes.

*****Good story about the conflict at the WSJ over its future. When the WSJ loses a subscriber, it is mostly because they died or their college discount expired.~JJL


Murdoch’s News Corp accused of undermining democracy; Ex-Australia PM says media group is ‘most powerful political actor’ in country and has divided the US
Jamie Smyth – FT
Malcolm Turnbull has accused Rupert Murdoch’s News Corp of eroding democracy in the US and Australia by dividing people and undermining institutions with lies and populist rightwing ideology. The former Australian prime minister told a parliamentary inquiry that Donald Trump’s presidency was to some extent a creation of the media mogul and that the attack on the US Congress in January was a consequence of partisan campaigns led by Murdoch’s Fox News.

*****All you have to do is open your eyes and your mind and some things are evident.~JJL


Friday’s Top Three
The top story on Friday was a New York Times opinion piece written by a former software engineer, After Working at Google, I’ll Never Let Myself Love a Job Again. The story also was No. 1 on Thursday. The second most-read story also was in the Top Three last week. A Yahoo Finance story, No. 2 was JPMorgan CEO Jamie Dimon outlines ‘serious weakness’ of virtual work. And No. 3 was a personal finance article from The Wall Street Journal, Bitcoin and Taxes: A Guide to the Tax Rules on Owning Cryptocurrency.

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