The Spread: Data Galore

Matt Raebel

Matt Raebel


Welcome to The Spread, I’m Matt Raebel.

Bitcoin mania appears to have returned stronger than ever at the moment now that the virtual coins are trading between 35 and 40 thousand dollars, depending on the day. Or the minute. I swear the cryptocurrency scene is like a zombie; as soon as you think it’s down, it gets back up and tries to sink its teeth into your brain.

If you’re feeling skeptical and think the hype is overblown, good news: you’re half right. Hype and bitcoin go together like bread and butter, after all. That said, it’s not all empty noise; there’s data to back it up. Sort of. For starters, according to data from The Block, December trading volumes for bitcoin futures and options across all major exchanges reached an all-time high of one trillion dollars thanks in part to bitcoin’s price blowing up in late 2020.

And according to blockchain market data firm Skew, volume in cash-settled options on bitcoin at the Panama-based options platform Deribit has already hit twenty five percent of what was traded in 2020. Open interest in bitcoin options on Deribit is also higher than it was in March 2020, when bitcoin took a nosedive along with pretty much every other asset there is.

Anyway, outside of the euphoric world of bitcoin options, the CME Group and IHS Markit announced a new joint venture in post-trade services. The new company will include CME Group’s optimization businesses and IHS Markit’s MarkitSERV – to provide post-trade services for over-the-counter derivatives markets across asset classes including equities, FX, and interest rate products.

Across the pond, the London Stock Exchange got approval from regulators in the EU Wednesday to purchase Refinitiv, giving it a pretty powerful ally in the ongoing market data wars.

That’s it for The Spread this week, be sure to check out John Lothian News dot com for more news and interviews. Suzanne Cosgrove published an interview this week with Cboe’s Laura Morrison, John has a two-part interview with Ray Carmichael, “History of Financial Futures: Game Changers Part II” is up as well, and Suzanne and I published a story about options volatility and major risk factors in 2021. Give them a look, because they’re pretty interesting. As always, stay safe and happy trading.


Deribit Exchange Raises Maximum Bitcoin Options Strike Price to $400K
Sebastian Sinclair – Coindesk

Bitcoin Options Volume on Deribit Already 25% of 2020 Total
Zack Voell – Coindesk

CME Group and IHS Markit to Form Leading Post-Trade Services Joint Venture for OTC Markets

Green Light for LSE-Refinitiv Deal Heralds Data-Driven Future
Viren Vaghela and Aoife White – Bloomberg

Industry Leaders: Laura Morrison On Growing The ETP ‘Pie’
Suzanne Cosgrove – JLN

Ray Carmichael – The History Of Financial Futures Part I
John Lothian – JLN

Ray Carmichael – The History Of Financial Futures Part II
John Lothian – JLN

JLN Launches The History Of Financial Futures Episode: Game Changers, Part II
John Lothian – JLN

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