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

JLN Editor-in-Chief Sarah Rudolph continues to recover from her recent surgery, for which we are very grateful. She will be returning to work part-time on Monday, covering our MarketsWiki Page of the Day posts.

DRW has a post on their “Insights” blog titled “What to expect when interviewing and onboarding 100% remotely.”

Claire Niciforo is raising money for the Misericordia Candy Days Fundraiser. If you would like to help her reach her goal of $25,000, you can click HERE.

There is a post from Wharton FinTech written by Miguel Armaza titled “S&P Global CEO, Doug Peterson — The Future of Finance, Power of Data, and Global Business Trends.”

Co-CEO and director of Phillip Capital Inc., Lynnette Lim is the latest to give to the JLN MarketsWiki Education GoFundMe campaign. Lynnette is a friend, JLN subscriber and former CBOT Building neighbor of JLN’s who co-leads the Phillip Capital FCM in Chicago with her husband. Phillip Capital is also the home of NFA Board Chairwoman Maureen Downs. It has one of the most extensive exchange membership and clearing networks of any of the FCMs, especially in Asia. Thank you to Lynnette and all who have given and all who have yet to give. Support our efforts to preserve industry history by giving 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


There will be no JLN Options newsletter this afternoon. JLN Options will resume publication on Monday, April 5th.~MR


First Read

The Spread: Tiger Billionaire

This week on The Spread, the unregulated crypto exchange Deribit announces a bitcoin volatility index, the CME announces over 1 billion micro options contracts have traded, and more.

Watch the video »



High-Frequency Traders Eye Satellites for Ultimate Speed Boost; Satellite networks could represent the next technological leap forward for a business where every millisecond counts
Alexander Osipovich – WSJ
In the relentless quest to speed up stock trades, space may be the final frontier. Today, high-frequency traders use microwaves, lasers and advanced kinds of fiber-optic cable to shave fractions of a second off the time it takes to execute trades. It’s a business that depends heavily on the ability to transmit data as quickly as possible between financial centers. Price moves in key markets drive fluctuations in other markets, and HFT firms must race from one exchange to another to adjust their trading activity in light of the latest data. Otherwise, they risk losing money to faster HFT firms with fresher information.

*****To infinity and beyond!!!~JJL


IEX is All-In on Data Revenues, Quote Fade and (Virtual) Rebates; Rather than make markets more efficient, regulators have added more free riding. Sliding prices based on price discovery from other exchanges are allowed.
Phil Mackintosh – Nasdaq
IEX has for years campaigned against phantom quotes (bids and offers that disappear right when investors want to trade) and exchanges earning SIP data revenues and “kickbacks” given to liquidity providers for posting lit quotes at the NBBO.

*****Nasdaq commenting on the competition is interesting. It is what challengers do.~JJL


A Leg To Stand On (ALTSO) Calls on Finance Industry For Critical Support; Industry charity offers corporate & personal philanthropy opportunities & prepares for Rocktoberfest 2021
Against all odds, the hedge fund and financial services industry helped industry charity A Leg To Stand On (ALTSO) deliver on their commitment to treating nearly 1,000 children through a historic 2020. The charity, known for its annual Rocktoberfest events in New York, Chicago, and London, was able to treat all registered 2020 patients without interruption and register over 1,000 new children for treatment in 2021.

*****Attention, your help is requested.~JJL


Thursday’s Top Three
The top-read story on Thursday was a press release from the South Australia Police that John Lothian referenced in his commentary, April Fools – New Dog Operations capability, a joke video about drones and dachshunds. The second most read was the JLN MarketsWiki page on the retiring manager of Ceres, Billy Assimos. And third was a profile of Assimos written by JLN’s Sarah Rudolph, Billy Assimos, the Face of Ceres.

John Lothian Newsletter

Today’s Newsletter

GameStop and Bitcoin Renewed a Push to Digitize the Stock Market

GameStop and Bitcoin Renewed a Push to Digitize the Stock Market

First Read $34,126/$300,000 (11.4%) ++++ Hits & Takes John Lothian & JLN Staff There is a new Van Gogh exhibit in New York billed as Van Gogh - The Immersive Experience. The site of this exhibit is the former trading floor of the NYMEX. The NYMEX trading floor...

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