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

Do you know the “two-out-of-three rule” for wearing a mask outdoors? The rule is if you are outdoors, you need to be distanced or masked. If you’re not outdoors, you need to be distanced and masked. — New York Times

The U.S. has seen a significant drop in vaccinations over the past week, with an 11 percent drop. This is the biggest downturn in the seven-day average since the February storms. — Washington Post

FIA, Inc. commemorates #earthweek2021 and #earthday2021 by highlighting their work on #climatechange and #sustainablefinance. — FIA

Here is a list of CME Group product launches: Freight Route TC18 (Baltic) Futures – This Week, Freight Route Liquefied Petroleum Gas (BLPG3) (Baltic) Futures – This Week, Micro Bitcoin Futures – May 2, USD Crude Palm Oil Bullet Futures and Options – May 2 and Lithium Hydroxide CIF CJK (Fastmarkets) Futures – May 2.

Here is a list of recent product changes at the CME Group: Listing SOFR 3 Month Strip Spreads – This Week, Change to Option Style for Black Sea Corn and Black Sea Wheat Options – This Week, Change to Maximum Order Quantity for Gold Futures Calendar Spreads – May 2 and Listing Cycle Expansion for EUR/USD Monthly Volatility-Quoted Options and JPY/USD Monthly Volatility-Quoted Options – May 16.

The Federal Reserve Board is accepting applications for its Community Advisory Council. For more information, click HERE.

Julie Winkler, managing director at the CME Group, has joined the board of Women in Derivatives (WIND). — WIND via LinkedIn

Bloomberg has a story by Enda Curran with the title, “Yes, Working From Home Makes You More Productive, Study Finds.” And now you know it is not just you who works well in a pair of sweats or jammy pants. —Bloomberg

The Greenwood Project this week welcomed Emily Holthaus as director of education. Holthaus has had a 12-year career in the education sector, from teaching to systems leader for a network of schools. In addition, she supported the turnaround process with five schools and founded a non-profit school management organization.

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


R.J. O’Brien & Associates in Chicago today announced the promotion of Christopher Bove to chief compliance officer. He previously served as RJO’s director of compliance since November 2020. Read the press release here. ~SR


First Read

Intercontinental Exchange’s Lynn Martin Walks JLN Through New ICE Portfolio Auction Platform

The world of bond trading is being swept into the electronic trading world and ICE has offered a new way to automate and make the trading of large portfolios of bonds easier. The ICE Portfolio Auction Platform leverages ICE data and risk management tools and creates an automated process for trading portfolios of bonds.

John Lothian News interviewed Lynn Martin, the president of fixed income and data services at Intercontinental Exchange, over Zoom about the exchange’s new Portfolio Auction Platform and how it works.

Watch the video »


Jim Marzano – The History of Financial Futures

Jim Marzano thought he was going to be a grain merchandiser at Stotler Grain. Instead, he ended up being a broker and a trader at the Chicago Board of Trade. In fact, he made the first trade in the 30-Year Treasury bond futures pit at the CBOT.

In this video interview by Thom Thompson, Marzano shares some reflections of his favorite days on the exchange and about the volatility of the bond market after the 1987 stock market crash. He talks about the first delivery in Ginnie Mae (GNMA) futures, which almost doomed financial futures.

Watch the video »



ICE launches Micro Asia Tech 30 Index Futures contracts
Intercontinental Exchange, Inc.
Futures contracts based on the recently launched ICE Asia Tech 30 Index; Offers the ability to invest in the 30 largest technology-related companies across Asia-Pacific
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that it plans to launch Micro Asia Tech 30 Index futures contracts on ICE Futures Singapore on April 26, 2021.

*****There is nothing micro about Asia. This will be big!~JJL


Nasdaq Launches Nasdaq-100® Micro Index Options (XND)
Nasdaq empowers Main Street investors to harness the Nasdaq-100 index through options
Nasdaq (Nasdaq: NDAQ) today announced the launch of options on the Nasdaq-100® Micro Index (XND), which expands access for Main Street investors to the Nasdaq-100 index in a seamless and cost-efficient way. These new index options are now listed on the Nasdaq PHLX options exchange, and are available on many trading platforms that support index options.

*****What we need here is a celebrity endorsement from Paul Rudd.~JJL


Vaccines are working: charts that show the Covid endgame
John Burn-Murdoch – FT
It is easy to feel as if the coronavirus pandemic is getting out of control again. The rate of new cases hit a record last week, with 5.2m people around the world getting infected, according to data from Johns Hopkins University.

*****I would like to see an endgame where half the people don’t disappear.~JJL


Sleeping Too Little in Middle Age May Increase Dementia Risk, Study Finds; The research, tracking thousands of people from age 50 on, suggests those who sleep six hours or less a night are more likely to develop dementia in their late 70s.
Pam Belluck – NY Times
Could getting too little sleep increase your chances of developing dementia? For years, researchers have pondered this and other questions about how sleep relates to cognitive decline. Answers have been elusive because it is hard to know if insufficient sleep is a symptom of the brain changes that underlie dementia — or if it can actually help cause those changes.

*****When my full dementia kicks in, you will know why.~JJL


Wednesday’s Top Three
On Wednesday, the most-clicked story was a blog post on Medium excerpted by John Lothian News, The 5 Essential Shifts of Weight Loss Mastery. The second most-clicked was Thom Thompson’s story for JLN, Cunningham Commodities to Tie Up With UK CFD Platform. Third was Bloomberg’s report on an ongoing issue at the LME, Fate of London Metals Pit Hangs in Balance After Trader Pushback.

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Unraveling how to effectively mitigate the economic and market risks associated with climate change was the focus of an ISDA meeting session on Tuesday, but while the panel of international regulators and banking officials outlined their considerable and ongoing efforts, a clear path to a uniform solution remained elusive.

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