First Read Celebrating 25 Years of the John Lothian Newsletter – A Leap of Faith in 1999 JohnLothianNews.com Twenty-five years ago, in August 1999, I began producing this daily newsletter as a marketing and networking tool to promote my electronic trading brokerage services, Commodity Trading Advisor offerings, and my personal brand. I was competing with […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Correction from yesterday’s reference to an FOW story regarding comments from a CFTC Commissioner about the TOTSA related fine: Commissioner Pham is the one who made the statement on TOTSA, not Commissioner Christy Goldsmith Romero. My apologies for the mistake. In response to my stupid […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Join JLN in Chicago for FIA’s Futures & Options Expo from November 18-20. The event will offer insights and innovations to help you and your firm thrive in the evolving cleared derivatives market. Choose from four participation options: Full Conference, Single Day, Single Day Exhibits […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff The Commodity Futures Trading Commission (CFTC) will host a Career Forum for law students and recent J.D. graduates on September 25, 2024, in Washington, D.C. The event will feature a discussion with Sharon Bowen, chair of the New York Stock Exchange, and CFTC Chairman Rostin […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff I normally head up to Wisconsin on the weekends to enjoy the summer weather alongside beautiful Geneva lake. That is the nice way of saying I head up north to do work on the family home I bought from my brothers after our mother died. […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Bank of Japan Governor Kazuo Ueda is the focus of a Financial Times story in which he warns us that the global markets are ‘unstable.’ If we take this advice, we might want to pay attention to a story in The Wall Street Journal titled […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Congratulations to Patty Schuler, senior vice president of business development at BOX Options, for receiving the STA Women in Finance (WIF) Mentor of the Year Award. A longtime STAC member and past STA governor, Schuler played a key role in launching the STA WIF initiative […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Mea culpa! When I was looking for an FIA news piece yesterday, I grabbed the wrong one. I grabbed a July 18 release of “FIA releases best practices for automated trading risk controls and system safeguards” rather than the one I was looking for “FIA […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff The FIA on August 18 released a new paper titled “Best Practices for Automated Trading Risk Controls and System Safeguards,” consolidating over 14 years of work in developing strategies to mitigate risks associated with electronic trading. The paper outlines best practices in areas such as […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff FIA Hall of Fame Member Dennis Murray passed away on August 17, according to industry sources and a funeral home webpage forwarded to JLN about Murray’s passing. An email sent to colleagues said there was “NO ONE BETTER.” He was described by another member of […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Former President Ronald Reagan was famous for reminding us of a Russian proverb, “Doveryai, no proveryai,” or “trust but verify.” However, it is going to get increasingly difficult to trust what we see in digital formats. Parmy Olson of Bloomberg has a commentary today titled […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Today is the birthday of the modern financial markets era. It was 53 years ago today, on August 15, 1971, that President Richard Nixon announced the suspension of the U.S. dollar’s convertibility into gold, effectively ending the gold standard. This event is commonly referred to […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff The Financial Times reported that Japan’s Prime Minister Fumio Kishida announced he will step down as leader of the ruling Liberal Democratic Party (LDP) in September, effectively ending his tenure as prime minister. His decision follows months of low approval ratings, rising living costs, and […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff MIAX Sapphire, owned by Miami International Holdings, Inc. (MIH), launched its electronic options exchange on August 12, 2024, marking MIAX’s fourth U.S. listed options exchange. OCC, the world’s largest equity derivatives clearing organization, announced that MIAX Sapphire, LLC has joined as an OCC participant exchange. […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Cantor Fitzgerald Chairman and CEO Howard Lutnick shared some updates from his recent activities on LinkedIn over the weekend, including hosting in his home a very successful $15 million fundraiser for former President Donald Trump and delivering a speech to the same Bitcoin conference that […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Neil Lustyk is retiring from the CME Group after almost 22 years at the exchange group and 45 years in the industry. Neil was my supervisor on the CBOT trading floor in 1981 when we worked for Shearson American Express. Neil is also a former […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff We missed this from back on July 11, but amid the NATO press conference and the Ukraine Compact Launch, President Joe Biden slipped some nominations out at the White House that included one for Julie Brinn Siegel to replace Christy Goldsmith Romero as a CFTC […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Back on August 1, CNBC published a video titled “Putin’s Trader” that was about a big insider trading ring on Wall Street run by the Russian oligarch Vladislav Klyushin, the owner of a cybersecurity company in Moscow called M-13. His firm was secretly a front […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Join your friends for an exciting evening at the “Racing to Move Scouts Forward” fundraising event, dedicated to supporting the Boy Scouts of America and the Pathway to Adventure Council. This unique event will take place on September 25, 2024, from 5 PM to 8 […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff There is a bear emerging, and I am not talking about the dead bear cub Robert F. Kennedy, Jr. dropped off in Central Park. Markets are down, with Japan dropping in the biggest rout since the 1987 stock market crash. It is an ugly morning. […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Cboe Global Markets reported its financial results for the second quarter of 2024, highlighting several key achievements. Despite a 15% decline in diluted EPS to $1.33 due to the impairment of intangible assets in the Digital reporting unit, the adjusted diluted EPS rose by 21% […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff The former headquarters of Cboe Global Markets, or the CBOE as it was known when the building was constructed, has been sold to a joint venture of Chicago real estate firms Prime Group and Capri Investment for $12 million, Crain’s Chicago Business reported. The sale […]
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