First Read Hits & Takes John Lothian & JLN Staff The SEC and CFTC held a joint roundtable at SEC headquarters on September 29, 2025 to advance regulatory harmonization. Opening remarks came from SEC Chairman Paul Atkins, CFTC Acting Chairman Caroline Pham, and SEC Commissioner Caroline Crenshaw. Panel One, “How We Got Here,” reviewed the […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff U.S. Securities and Exchange Commission Chairman Paul Atkins penned a commentary for the Financial Times about when corporate earnings should be reported titled “Let the market decide how often companies report,” with the subheadline “The SEC should take its thumb off the scales and put […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff The Barchart “What’s Next for Derivatives Industry Trends, M&A and Partnerships” event, held yesterday at its headquarters at 222 Southwinds Riverside Drive in Chicago, was a resounding success, drawing an energized and diverse crowd of industry professionals and sparking new conversations across the industry. Erika […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff According to a Wall Street Journal quiz by Beth DeCarbo, Wall Street has maintained its own distinctive jargon and slang for centuries, with traders and brokerage firms using terminology that sounds like “gibberish to the uninitiated.” The article (spoiler alert) presents a 10-question quiz testing […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Bitcoin traders are flocking to “perpetual futures” contracts, nicknamed “perps,” which offer extreme leverage of up to 100 times an initial investment, potentially delivering massive gains or complete losses that can wipe out traders entirely. Wall Street Journal writer Gunjan Banerji shines a light on […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Dr. Richard Sandor‘s new book he wrote with Paula DiPerna, “Carbon Hunters: Reflections And Forecasts Of Climate Markets In The 21st Century,” was number one last week on Amazon’s Hot New Releases – Green Business list and is number three this week. World Scientific Publishers, […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff The Securities and Exchange Commission dropped civil enforcement cases this week against three men previously granted clemency by President Trump, potentially sparing them hundreds of millions of dollars in penalties. Devon Archer, convicted in a scheme targeting pension funds and tribal entities, faced nearly $60 […]
Read articleLead Stories Breaking: SEC approves IEX Options launch despite “Citadel’ securities campaign”; The US Securities and Exchange Commission has greenlighted IEX’s plan to launch “IEX Options”. Etienne Mercuriali – Global Trading The market which features a 350-microsecond symmetric access delay and an optional Options Risk Parameter (ORP) that can cancel or reprice market-maker quotes deemed […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Trump administration officials have signaled a significant shift in their approach to free speech following the killing of conservative activist Charlie Kirk, who was shot while speaking to students in Utah last week. According to the Financial Times article by Kaye Wiggins, the White House […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Dr. Richard Sandor proudly posted to LinkedIn yesterday that “Carbon Hunters: Reflections and Forecasts of Climate Markets in the 21st Century” was ranked #1 on “Amazon Hot New Releases – Green Business.” Also, the book is now available on Amazon. Retired (kind of?) attorney Gary […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Miami International Holdings (MIAX) announced the launch of its MIAX Sapphire options trading floor in Miami, marking the first national securities exchange to open a trading floor in the city and only the second open outcry trading floor to launch in the last 50 years. […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Peter Reitz, the CEO of European Energy Exchange, shared a message on LinkedIn about the International Day of Democracy, a United Nations day promoting and upholding the principles of democracy. Here is what EEX had to say: “On this International Day of Democracy, we reaffirm […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff What is the difference between “gaming” and “gambling?” That is a question that needs to be defined by Congress. Or perhaps it will be the Supreme Court? Or the Supreme Court will throw it back to Congress to decide. Prediction markets are disrupting America’s $14 […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Former OCC CEO John P. Davidson today shared a thoughtful personal reflection on the anniversary of September 11 in a LinkedIn post, recounting how his life and routine were disrupted on that day 24 years ago and emphasizing the unity, compassion, and heroism shown in […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Yesterday, the FIA Washington Update was held in Chicago at the CME Group‘s headquarters, located at 20 South Wacker Drive. It was a well-attended event, with a notice included in the registration stating, “No Press.” I registered anyway. When I saw FIA President and CEO […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff My comment letter to the SEC about IEX‘s proposed options exchange has been posted. You can read it HERE. Here is a summary of my position: I’ve observed how technological advances in electronic trading lowered barriers for traders, but also led to consolidation among brokers […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Dr. Richard L. Sandor, Chairman and CEO of Environmental Financial Products, announced the September 20 release of his new book, “Carbon Hunters: Reflections and Forecasts of Climate Markets in the 21st Century,” co-authored with Paula DiPerna. In a LinkedIn post, Sandor explained that the book […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Cboe’s Craig Donohue will be honored with the A. Stamford White Leadership Award by the Pathway to Adventure Council, Scouting America, recognizing his outstanding civic leadership and long-standing support for youth development. The award pays tribute to White-Chicago Board of Trade president, Boy Scouts co-founder, […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff Cboe Global Markets launched a new global advertising campaign titled “Life is Better With Options” on September 2, 2025, aimed at expanding awareness and education about the potential benefits of options trading among institutional and retail investors worldwide. The campaign, led by Catherine Clay, global […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff President Trump announced he is deploying Federal troops to Chicago. I take this issue very seriously, but the motto of this newsletter is “Irreverent, but not Irrelevant,” so yesterday, I asked myself, “What if those troops had come to Chicago in 1987 and found themselves […]
Read articleFirst Read Hits & Takes John Lothian & JLN Staff ElectronX has achieved a significant regulatory milestone by becoming the first U.S.-regulated, direct-access electricity derivatives exchange, having received both Designated Contract Market (DCM) and Designated Clearing Organization (DCO) approvals from the CFTC on August 29, 2025. The Chicago-based energy exchange plans to launch later in […]
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