JLN Options: Verizon Jumps into Low-Latency Race between New York and Chicago

Apr 20, 2012

Lead Stories

Verizon Jumps into Low-Latency Race between New York and Chicago
Traders Magazine Online News
James Armstrong
Telecommunications giant Verizon on Wednesday officially unveiled a low-latency service linking New York and Chicago. The offering is targeted at global banks, hedge funds, market makers, pre- and post-trade service firms and money managers. The new system uses optical technology from network specialist Ciena to send signals round-trip between New York and Chicago in as little as 14.5 milliseconds. Verizon said the system is designed to be a secure, reliable high-speed path between the two cities, one of the world’s busiest financial trading routes.
Jim Anderson, a product manager with Verizon, said latencies will vary on a connection-by-connection basis. But one benefit for customers is they will have real-time monitoring of the round-trip delay. Then if customers see speeds drifting downward, they can contact Verizon, and it will attempt to fix the problem as soon as possible, he said.
http://jlne.ws/JeOeHM

Exchanges

SEC Options Cases Highlight CBOE Regulation  
WSJ.com
By Jacob Bunge Of DOW JONES NEWSWIRES
The Chicago Board Options Exchange, which is facing a Securities and Exchange Commission investigation into the supervision of its members, factors into a widening SEC case against a Chicago-based brokerage and trading firm that are accused of violations of U.S. securities law.
The CBOE served as the primary regulator of a trading firm alleged by the SEC on Thursday to have carried out illegal transactions, according to legal documents filed by regulators in conjunction with the accusations. Parent company CBOE Holdings Inc. (CBOE) in late February disclosed that regulators were investigating the firm’s compliance functions, to see whether it was properly policing the firms doing business on its exchanges and other platforms.
http://jlne.ws/IaemBI
NASDAQ OMX Group First Quarter Earnings Sneak Peek
Wall St. Cheat Sheet By Derek Hoffman
S&P 500 (NYSE:SPY) component NASDAQ OMX Group (NASDAQ:NDAQ) will unveil its latest earnings on Wednesday, April 25, 2012. NASDAQ OMX Group delivers trading, securities listing, exchange technology, and public company services across six continents.
http://jlne.ws/IcTDAM

Options on Futures

Options to Buy EU Carbon at 8 Euros a Ton Lead Trading Jump
By Mathew Carr, Bloomberg
Options trading in European carbon permits surged, with the most activity in contracts that give holders the right to buy at a price of 8 euros, according to data from the ICE Futures Europe exchange in London.
http://jlne.ws/I6ZPcd

Regulation

Milestone U.S. oil manipulation case unsettles traders
Reuters By David Sheppard
U.S. regulators’ $14 million settlement with high-frequency trading firm Optiver over oil price manipulation in 2007 is a “milestone” victory in their toughening stance on market malfeasance which is being closely watched by traders.
In its first major case against an algorithmic trader and the biggest financial penalty involving manipulation in the oil futures market, the Commodity Futures Trading Commission said late Thursday that a court settlement required the Amsterdam-based company to disgorge $1 million in profits and pay $13 million over allegations it used a rapid-fire tool nicknamed “The Hammer” to influence U.S. oil prices in 2007.
http://jlne.ws/HXNd63

Technology

TD Ameritrade Institutional Launches First-of-Its-Kind Trading Platform for Advisors
Press Release
Independent registered investment advisors looking to enrich their trading experience now have access to the thinkpipes® platform, an advanced, highly-customizable trading-platform for advisors. thinkpipes is designed to meet the needs of many advisors – from traders of equities or exchange-traded funds (ETFs), to those advisors who are looking to start or expand their use of options strategies. thinkpipes is based on the award-winning thinkorswim technology, from TD Ameritrade.
Advisors trading equities, ETFs and options are able to customize their thinkpipes experience with a tabbed-page design to view streaming quotes, charts and order executions.
http://jlne.ws/Iaopqq   

Events

Reminder: OIC Announces Investor Education Day in New York City April 21
Chicago—April 10, 2012
The Options Industry Council (OIC) today announced its next Investor Education Day (IED) for 2012 taking place in New York City on April 21.
http://jlne.ws/IWZvdK

Hundreds of chances to learn about finances during Money Smart Week
Chicago Sun-Times
BY FRANCINE KNOWLES
If you’re looking to become more financially savvy, there will be a wealth of free help available during Money Smart Week activities, which kick off in the Chicago area Saturday.
Whether it is possible to do well while doing good will be explored at a session on socially responsible investing.
Those planning to wed soon might benefit from a workshop on the financial implications of marriage.
Kids will be able to design their own piggy bank and learn about checking accounts at another session and play a giant-sized Monopoly game at another event.
More than 500 free events on nearly two dozen topics are planned targeting seniors, the college bound, couples, small-business owners, children and others.
http://jlne.ws/HXIH7F

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