John Lothian: Week in Review (July 20th – 24th, 2026)
The Weekend Update
JLN PRESS ROOM PICK OF THE WEEK
Buy the Truth, Sell the Delayed Fact
Trump Media & Technology Group says Truth API will give institutional customers “licensed, real-time access” to posts from the highest-ranking Truth Social accounts beginning August 1, with customers already signed and more onboarding, a 24/7 feed, machine-readable delivery “in milliseconds,” and an archive back to 2022. The company says the customers include “high-frequency and algorithmic trading firms” that need a low-latency feed rather than manual tracking, and interim CEO Kevin McGurn put the pitch plainly: “Markets already move on Truth Social posts.” Reuters reported that Trump Media discussed charging Wall Street traders and investment firms as much as $100,000 a month for the fastest feed, with another $60,000-a-month three-year plan also pitched.
10 MOST CLICKED STORIES OF THE WEEK
JLN PRESS ROOM PAGE OF THE WEEK
Tarek Mansour
According to a New York Times report, the rivalry between Kalshi’s Tarek Mansour and Polymarket’s Shayne Coplan goes far beyond the normal bounds of corporate rivalry and the two despise each other.
FROM JOHN LOTHIAN NEWS
AI tools and longer trading hours could help European markets narrow the gap with the US
European derivatives markets need deeper liquidity to attract US investors seeking greater exposure to the region, according to Oliver Deutschmann, managing director, head of equity derivatives EMEA at Liquidnet.
“What’s really missing to attract more business is simply liquidity,” Deutschmann said. US clients are interested in Europe but question whether markets such as Euro Stoxx futures can absorb large orders without significant price movement, he said.
Duffy Goes Down Swinging — But Don’t Let Perpetuals Become the Next E-mini
Give Terry Duffy this much: the man does not do lame duck. On one of his final CME Group earnings calls as chief executive, the outgoing chairman and CEO came out swinging, pulling no punches on the industry’s most active newswire topics in the derivatives business, from prediction markets and sports “event” contracts drifting into what he flatly calls gambling, to the rush toward perpetual futures, to the CFTC’s willingness to bless it all. Duffy has always been at his best when he has something to defend and someone to argue with, and with the exit door in sight, he is using the last of his platform to plant flags for the CME Group he built.
EEX Weighs Extended Trading Hours as Geopolitics Roil Power Markets
European Energy Exchange is preparing to extend its trading day into the early European morning and late evening hours as geopolitical shocks increasingly move commodity prices outside conventional session windows, according to Tobias Paulun, chief executive officer at European Commodity Clearing AG, a wholly owned subsidiary of EEX AG, in an interview at the FIA International Derivatives Expo.
Buy the Truth, Sell the Delayed Fact
Trump Media & Technology Group says Truth API will give institutional customers “licensed, real-time access” to posts from the highest-ranking Truth Social accounts beginning August 1, with customers already signed and more onboarding, a 24/7 feed, machine-readable delivery “in milliseconds,” and an archive back to 2022. The company says the customers include “high-frequency and algorithmic trading firms” that need a low-latency feed rather than manual tracking, and interim CEO Kevin McGurn put the pitch plainly: “Markets already move on Truth Social posts.” Reuters reported that Trump Media discussed charging Wall Street traders and investment firms as much as $100,000 a month for the fastest feed, with another $60,000-a-month three-year plan also pitched.
Euronext’s Gallagher: Europe Must Fix Fragmentation to Compete
Euronext London Chief Executive Officer Simon Gallagher said European policymakers have reached a “real realization” at the highest levels that the region faces a competitiveness problem relative to the United States and Asia, pointing to fragmented market structures as a central obstacle to closing that gap. Speaking with FOW’s Radi Khasawneh for a special JLN Industry Leader video series produced in partnership between John Lothian News and FOW, and filmed at the FIA IDX Conference at the Park Plaza London Westminster Hotel, Gallagher said proposals from the European Commission around single supervision, while contentious, would materially simplify operations for a multi-market operator like Euronext, which runs eight national regulated stock exchanges across the continent.