First Read Hits & Takes John Lothian & JLN Staff Yesterday JLN published a video interview we shot for The Path to Electronic Trading that got lost in the archives and was never published. It is an important piece that involves someone whose career has spanned from the 1960s computing to today, from paper ticket […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff U.S. Treasury Secretary Janet Yellen highlighted the rise in fraud across the banking sector, noting it has become a significant, widespread issue, Bloomberg reported. Speaking at an American Bankers Association event, Yellen mentioned an increase in fraud involving government checks and emphasized that the Treasury […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Aquis Exchange and Cboe Europe today announced a joint venture, SimpliCT, to bid for the role of the EU’s consolidated tape (CT) provider for equities. SimpliCT, co-owned by Aquis and Cboe, will be headquartered in the Netherlands and will aim to create a reliable, cost-effective […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff I have more sad news to report this morning. Anne Bagan, the retired CME clearinghouse executive and widow of MGEX CEO Mark Bagan, died on October 20th when her car became submerged in 15 feet of water about 20 miles north of Mauston, Wisconsin. Bagan, […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Bloomberg has a story this morning which is our lead story about tax-loss harvesting that has echoes back to the controversy in futures trading in the late 1970s concerning spread trading. The use of futures spreads to roll tax liabilities forward, leaving traders with little […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Trish Foshee is retiring from The IFM, the FIA announced today in a press release. Foshee, who has been working since she was 16, has been with The IFM for the last 24 years. She has been a stalwart proponent for education in the industry […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Amid the reporting about the death of Sir Brian Williamson, news emerged that his former LIFFE colleague Hugh Freedberg had passed away in August. Freedberg served as CEO of LIFFE from 1998 to 2009 and he played a key role in negotiating the deal for […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff The FIA mourned the passing of Sir Brian Williamson yesterday in a LinkedIn post. Here is a quote from the post: “Sir Brian was a legendary figure for our industry and an inspiration to many,” said Walt Lukken, President and CEO of FIA. “He was […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Sir Brian Williamson died last Thursday morning, sources have shared with me. The former two-time chairman of the London International Financial Futures and Options Exchange was reported not to be feeling well for a couple of days and saw his doctor ahead of a planned […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff One of the biggest things I don’t like about tariffs is that they corrupt a very important market input, price. No matter the party in power or the country imposing the tariffs, it skews the free market and the price of goods or commodities. That […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff The introduction of tariffs has long been a flashpoint for economic friction that can escalate into broader geopolitical conflict. Historical examples illustrate how protectionist policies-designed to secure economic interests-have fueled nationalistic sentiments, economic grievances, and, ultimately, war. In analyzing these cases, the parallels to the […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff The Commodity Futures Trading Commission‘s Division of Clearing and Risk has announced the participant list and agenda for its October 16 roundtable on clearing issues. The event will focus on topics such as the custody and delivery of digital assets, the use of digital assets […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Ben Hurley has been appointed the CEO of software maker Devexperts, the company announced in a press release today. Hurley is also featured in a video interview I conducted with him before the announcement about his new role, his background and the company’s plans. You […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff I don’t know if it is the long hours of work, the hurricane, the evacuation, bad search technique, or aging and losing my memory, but I totally screwed up my recollection of the timeline of the DRW/CFTC scuffle. I apologize for the error. SEC Chairman […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff The SEC has charged Chicago-based Cumberland DRW LLC for operating as an unregistered dealer in over $2 billion of crypto assets, violating federal securities laws designed to protect investors. The complaint alleges that since at least March 2018, Cumberland has been buying and selling crypto […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Yesterday would have been my late mother’s 94th birthday. Yesterday could have been the day her home in Florida, the one I bought from my brothers, was destroyed by Hurricane Milton. However, in a REALLY GOOD SIGN, Florida Power & Light says that power is […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff FIA has announced the selection of 10 startups for the 2024 Innovators Pavilion, which will be part of its annual Futures and Options Expo in Chicago from November 18-20. This showcase highlights fintech innovations relevant to derivatives trading and clearing. FIA President Walt Lukken emphasized […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff It appears the FCA was listening to Piebe Teeboom and the FIA EPTA with their recommendations to improve the European capital markets. Now if we can just get the rest of the European regulators on board. JLN had recently interviewed Teeboom about the FIA EPTA’s […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Today, October 7, is one of those solemn days we shall remember every year. We remember those innocent people killed or taken hostage on this day and the beginning of a conflict that led to more deaths and destruction as a result of this unnecessary […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Yesterday Miami International Holdings (MIH) announced the renaming of its subsidiary, Minneapolis Grain Exchange (MGEX), to MIAX Futures Exchange (MIAX Futures). This rebranding reflects MIH’s broader strategy to expand its futures offerings, building on the legacy of MGEX’s flagship Hard Red Spring Wheat (HRSW) futures, […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff India has rapidly become the world’s largest equity derivatives market, driven primarily by inexperienced retail investors engaging in speculative trading, Bloomberg reports. The market’s annual turnover now surpasses the total output of India’s economy, with risky options trading posing potential financial instability. The Securities and […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Clifford Asness and John Liew, co-founders of AQR Capital Management and University of Chicago alumni, have donated $60 million to the university to support the master’s in finance program at the Booth School of Business, where both earned MBAs and Ph.D. degrees, Bloomberg reported. Their […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff In an exclusive story, FOW is reporting “RJ O’Brien president Dan Staniford leaves Chicago group.” The story says, “Staniford, who was the firm’s chief sales officer before being promoted to president in June 2021, left the group in late September, according to a spokesperson.” That […]
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