THE JOHN LOTHIAN NEWS DAILY UPDATE – 4/28/2021

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

It is a busy day today with the Options Industry Conference and FIA’s Law & Compliance conference kicking off. The JLN team is covering OIC more broadly and some L&C afterwards if we can get some interviews.

I really miss the swag of OIC, which is typically some of the best of any conference. I still have my cowboy boots from NYSE when the conference was in Texas, though I have not worn them for years.

In an effort to bring diversity to the OIC conference, they have the following women on the program: The Honorable Allison Herren Lee, commissioner, U.S. Securities & Exchange Commission; The Honorable Jill Sommers, senior advisor, Patomak Global Partners (and former CFTC commissioner); Annabelle Baldwin, chief revenue officer, SpiderRock Holdings;
Julie Bauer, chief external relations officer, OCC; Alicia Crighton, managing director, Goldman Sachs; Arianne Criqui, senior vice president, Cboe Global Markets; Ryan Jachym, vice president, Goldman Sachs; Denise Knabjian, managing director, OCC; Lori Schock, director, Office of Investor Education & Advocacy, U.S. Securities & Exchange Commission.

Everyone is getting into or expanding their ESG offerings. The Montréal Exchange announced the launch of the S&P/TSX Composite ESG Index Futures. — TMX

The CME Group announced plans to launch E-mini S&P Europe 350 ESG Index Futures, building on the company’s successful E-mini S&P 500 ESG Index futures contract. This new product will be available for trading on May 24, pending regulatory review. — CME Group

Allan Schoenberg may be gone from Nasdaq, but the team there is keeping CEO Adena Friedman in the public eye. Today there is a story in Insider titled “Inside Nasdaq CEO Adena Friedman’s mission to stay ahead of Wall Street’s growing adoption of the public cloud.” — Insider

Joshua Brown, the Reformed Broker, has a commentary titled “‘Stock Market Bubble’ Searches Explode.” Consider this an early warning system. — The Reformed Broker

Starbucks reported customers have returned and they expect higher profits. It is probably a bunch of people sitting in Starbucks drinking coffee searching for a “Stock Market Bubble.”

Also, New York Governor Coumo announced offices could go from 50% occupancy to 75% occupancy, which is sure to drive more Starbucks consumption. — WSJ

And the CDC eased the face mask guidelines for being outside, so you can drink your Starbucks outside too if you are fully vaccinated, with an emphasis on “fully.” — WSJ

I am very proud of the readership of this newsletter as the Emily Ratajkowski story was only the third most-read story on Monday.

I really liked the FT’s cheese market story yesterday by Emiko Terazono. The writing was fun and it was good reporting. I liked the “sharp” increase in trading reference. The main cheese contract represents the price of block and barrel cheese. I was a little confused the first time I read the phrase block cheese market, asking myself is this block trading, or trading of blocks. Or both? — FT

Trading Technologies matched our weekly donations to the JLN MarketsWiki Education GoFundMe campaign, raising the total to $40,576. Support our efforts to preserve industry history by giving to our GoFundMe campaign and have your contribution matched by TT.

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

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