| April 25, 2024 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | |
Hidden Road's Litman discusses expansion into listed derivatives and its new Route 28
JohnLothianNews.com
JLN spoke with Laine Litman, president of Hidden Road, at the FIA Futures Industry Conference in Boca Raton in March about the company's work establishing a global trade network for institutions across asset classes and products. Using quantitative technology, the firm seeks to increase efficiency and transparency in the market through better access to data, credit, capital, and a more efficient flow. The interview was part of the JLN Industry Leader video series, sponsored by Wedbush.
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Options Discovery Episode 33: Multi-leg Options Strategies, Volatility, and Corporate Actions; Mark Benzaquen, Principal of OCC Education, Discusses This and More With JLN's Asma Awass.
JohnLothianNews.com
In this episode of Options Discovery, Asma Awass talks about topics that newer and intermediate traders should familiarize themselves with. This episode includes a breakdown of a few multi-leg options strategies, volatility, and the most common corporate actions. Asma then sits down with Mark Benzaquen, Principal of OCC Education, who goes deeper into these topics. You can learn more about OCC Education here: https://www.theocc.com/company-information/investor-education
Watch the video »
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Multi-leg Options Strategies, Volatility, and Corporate Actions; Mark Benzaquen, Principal of OCC Education, Discusses These Topics In This Options Discovery Full Interview
JohnLothianNews.com
In this episode of Options Discovery, Asma Awass talks about topics that newer and intermediate traders should familiarize themselves with. This episode includes a breakdown of a few multi-leg options strategies, volatility, and the most common corporate actions. Asma then sits down with Mark Benzaquen, Principal of OCC Education, who goes deeper into these topics. You can learn more about OCC Education here: https://www.theocc.com/company-information/investor-education
Watch the video »
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| | | | | | Lead Stories | | | Cboe Global Markets Realigns Digital Asset Business, Leveraging Strength and Expertise in Derivatives and Clearing
Cboe Global Markets
Company plans to transition digital asset derivatives trading and clearing into existing derivatives and clearing business lines. Plans to wind down Cboe Digital Spot Market in third quarter 2024. Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced plans to refocus its digital asset business to leverage its core strengths in derivatives, technology and product innovation while realizing operating efficiencies for both Cboe and its clients. These changes are being made as part of Cboe's strategic review, taking into consideration the lack of regulatory clarity in the digital space, and are aligned with Cboe's longer term strategy.
/jlne.ws/3UvfnTw
Wall Street's 'fear gauge' jumps as stocks slide
Joseph Adinolfi - MarketWatch
Wall Street's "fear gauge" jumped on Thursday as stocks slumped.
/jlne.ws/44fLpWU
Lutnick Lands Wall Street Giants for His Futures Fight With CME
Katherine Doherty and Sridhar Natarajan - Bloomberg
Howard Lutnick is lining up some of Wall Street's biggest power players for a fresh challenge to the behemoth of futures trading and interest-rate derivatives, CME Group Inc. The chief executive officer of Cantor Fitzgerald got backing from Bank of America Corp., Barclays Plc, Citadel Securities, Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., and Jump Trading as he prepares to launch his new futures exchange. The firms invested $172 million for a 25.75% stake in FMX, which increases as they use the platform. The business is part of BGC Group Inc., a brokerage spun off from Cantor Fitzgerald in 2004 and led by Lutnick.
/jlne.ws/49RSDl1
Mark Zuckerberg's wealth may slide $25 billion in a day as Big Tech faces $350 billion sell-off
Theron Mohamed - Business Insider
Mark Zuckerberg's fortune could shrink by $25 billion in a single day due to Meta's post-earnings slump.
The cofounder and CEO of Facebook, Instagram, and WhatsApp's parent company was worth an estimated $175 billion at Wednesday's close, per the Bloomberg Billionaires Index.
/jlne.ws/3JBGRR8
Hong Kong Approves Crypto ETFs With a Key Difference
Weilun Soon - The Wall Street Journal
Hong Kong's latest milestone in fashioning itself to be Asia's premier market for cryptocurrencies has the support of a group of unlikely supportersâtraditional fund houses from mainland China, where the trading of those tokens is banned.
Hong Kong's Securities and Futures Commission on Wednesday gave the green light to the offshore units of three large Chinese asset managers to launch spot bitcoin and ether exchange-traded funds.
/jlne.ws/4aVKopx
| | | | | | Exchanges | | | Deutsche Boerse and Nodal Exchange partner to offer premium range of market data
Deutsche Boerse
Partnership provides Deutsche Boerse access to market data from Nodal Exchange. Deutsche Boerse's clients will benefit from enhanced offering, now including US power and environmental market data. Partnership is scheduled to go live on 1 May 2024. Deutsche Boerse announces a collaboration with Nodal Exchange, a leading North American commodity derivatives exchange which is part of the EEX Group. As part of this collaboration, Deutsche Börse will provide access to a broad range of futures & options data in US energy and environmental markets through its proven data platform and vendor network.
/jlne.ws/44gLfP9
| | | | | | Regulation & Enforcement | | | CFTC Weighs Outright Ban for Derivatives Bets on US Election; Regulator is drafting a proposal for events contracts; Agency pushes to clarify restrictions on binary options
Lydia Beyoud - Bloomberg
A top Wall Street regulator is considering an outright ban on using derivatives to bet on US elections as part of a crackdown on so-called event contracts, according to people familiar with the plans. The Commodity Futures Trading Commission's draft proposal would boost oversight of the contracts that have let people wager on real-world outcomes such as monetary policy, lunar landings and music awards. Beyond elections, the CFTC may also prohibit some contracts on sports and calamities such as global health crises, said the people, who asked not to be identified discussing the internal deliberations.
/jlne.ws/3UxOr5B
SEC reviews new rules for Bitcoin options trading
The Securities and Exchange Commission is evaluating whether exchanges' current surveillance and enforcement mechanisms can handle Bitcoin exchange-traded products (ETPs).
Ana Paula Pereira - CoinTelegraph
The United States Securities and Exchange Commission (SEC) has launched another round of consultations on a proposed rule change for trading options on Bitcoin exchange-traded products (ETPs).
According to an April 24 filing, the securities regulator wants to better understand how listing Bitcoin options could affect the overall market, especially during times of stress. Part of the review will assess whether the exchanges' current surveillance and enforcement mechanisms are adequate to handle the unique aspects of Bitcoin options.
/jlne.ws/3xQuluy
| | | | | | Strategy | | | Past Years
Cboe (Video)
Your market update courtesy of @JoeTigay in today's #Vol411.
/jlne.ws/4dciG9E
| | | | | | Miscellaneous | | | 'Buy Bitcoin' Sign Shown Behind Yellen Sells for $1 Million at Auction; Message was flashed behind Janet Yellen during a 2017 hearing
Olga Kharif - Bloomberg
A yellow legal pad with "Buy Bitcoin" scribbled on it - the type that will cost you $8.99 for a three-pack on Amazon â just sold for $1.027 million during an auction.
The hastily produced sign was flashed by an intern back in 2017 during televised Congressional testimony of then-Federal Reserve Chair Janet Yellen. The placard quickly became a rallying cry for a small but fast-growing community of crypto developers and investors, and now a sign of the cryptocurrency's renaissance.
/jlne.ws/3w7yD0a
When it comes to desk set-ups, buy-siders are readjusting how derivatives fit in; With derivatives arguably less exotic than in times gone by, firms are adapting execution styles and hoping for a more interconnected future for the European equities space.
Claudia Preece - The Trade
When it comes to desk organisation, where derivatives fit in has been a key focal point for firms in recent times, with key buy-siders unpacked their approach to managing the evolving asset class on a TradeTech panel this week. Eric Boess, global head of trading at Allianz Global Investors, explained that the firm set out with a "classic" set up when trading began in 1996/97: "We had equities, fixed income, FX and money markets and we had a dedicated derivatives desk at the time because we had very derivatives-heavy product suite [...] that derivatives team ran portfolios with portfolio management responsibilities."
/jlne.ws/3UILQWR
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| | | | John Lothian News (JLN) is the news division of John J. Lothian & Company, Inc. (JJLCO). The online media and financial services firm is staffed by derivatives industry, journalism and technology professionals. | | | | | | | John Lothian News Editorial Staff: | | | John Lothian
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