The Weekend Update: June 24-28, 2019
JLN PRESS ROOM PICK OF THE WEEK
Bcause LLC, the failed cryptocurrency trading platform and mining services provider, was back in court on Friday, June 21, on a motion by WESCO, a secured creditor, to be paid now, before the remaining cash in the enterprise is dissipated. WESCO’s demand for payment precipitated the April 11, 2017, bankruptcy petition. Bcause and seemingly most of its creditors want the company to continue operating its mining services rather than be liquidated. If WESCO prevails, the company’s remaining cash will be drained and it may be forced out of business.
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FROM JOHN LOTHIAN NEWS
In this video, Matt Amberson, principal of Option Research & Technology Services (ORATS), talks about how getting people to use options data is a good first step on the road to their eventually trading options.
On Monday, June 24, the CFTC licensed LedgerX as a futures market and it joined the ranks of the CFTC triply crowned: swap execution facility (SEF), derivatives clearing organization (DCO) and now designated contract market (DCM). CME and ICE also have SEFs tucked into their conglomerates.
Illinois Tech’s (IIT) biennial Tech-X awards dinner last night honored a well-known industry pioneer and icon, former CME Chairman Jack Sandner, and a relative newcomer, Hazem Dawani, chief executive officer of Predata, a predictive analytics platform.