| June 11, 2025 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
|
|
Lead Stories
ANALYSIS: CME targets growing retail demand for futures, options
Radi Khasawneh - FOW
CME Group's focus on the growing global retail trading community is the culmination of decades' work, the US group's chief commercial officer has said.
Speaking to FOW, the Chicago-headquartered exchange group's chief commercial officer sees the recent focus on retail traders as the culmination of a long process developing its offering.
/jlne.ws/45lhy26
Adoption of tokenisation beneficial for cleared derivatives industry; FIA sees collateral mobility as important use case for blockchain technology
FIA
FIA released a white paper on the potential application of tokenisation to accelerate the mobility of collateral in the cleared derivatives industry. The paper states that the cleared derivatives industry is at an "inflection point" in the adoption of tokenisation and notes that several clearinghouses are exploring use cases for this technology. It describes the potential benefits and some of the challenges for adoption at scale and concludes with four recommendations.
/jlne.ws/3FQIV9M
Circle's Wild IPO Sparks ETF Rush Betting on the Hot Stablecoin Stock
Isabelle Lee - Bloomberg
Wall Street's ETF machine kicked into high gear just hours after Circle Internet Group Inc. went public, riding the frenzied initial public offering of the stablecoin giant as crypto technologies enter mainstream finance. At least three issuers rushed to file related exchange-traded funds following Circle's white-hot Thursday debut. The firm - issuer of USDC, the second-largest stablecoin - saw its shares triple shortly after trading began, reviving animal spirits across an IPO-starved market.
/jlne.ws/45OQ0SI
Bitcoin winter not coming back, says Strategy's Saylor
Louis Juricic - Investing.com
MicroStrategy Chairman Michael Saylor dismissed recent criticism from a legendary short seller during a Bloomberg TV interview Tuesday, explaining his company's business model and outlook on Bitcoin's future. Responding to Jim Chanos's short call on MicroStrategy shares, Saylor stated, "I don't think he understands what our business model is. We are the largest issuer of Bitcoin back credit instruments in the world."
/jlne.ws/45jHH1g
A growing number of Fortune 500 companies are pursuing 'blockchain initiatives' as crypto goes mainstream
Catherine McGrath - Fortune
An increasing number of mainstream companies are experimenting with blockchain technology, according to a new report. Around 60% of Fortune 500 executives say their companies are "working on blockchain initiatives," according to a new survey published by crypto exchange Coinbase on Tuesday, in partnership with GLG Research. That's a 4% increase from last year. Many of these crypto projects are related to the use of blockchain technology for payments and settlements, supply-chain management, and blockchain infrastructure.
/jlne.ws/3HzA7Wc
Hedge fund giants are backing more external fund managers. Here's why smaller rivals are doing the opposite.
Bradley Saacks - Business Insider
Firms like Millennium and Qube are investing in external managers to expand strategies.
Smaller platforms offer autonomy and tailored risk management to lure skilled traders.
The hedge fund talent war means profit-generating portfolio managers have more options than ever.
In an industry run by savvy billionaires, rank-and-file traders have had the upper hand in recent years thanks to what Millennium founder Izzy Englander deemed a "talent bubble" in 2023.
/jlne.ws/445zwU2
Exchanges
Miami International Holdings Reports Trading Results for May 2025; MIAX Exchange Group U.S. Multi-Listed Options Volume Surges 44.2% with Market Share at Record 17.4%
MIAX
Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today reported May 2025 trading results for its U.S. exchange subsidiaries-MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire (collectively, the MIAX Exchange Group), and MIAX Futures.
/jlne.ws/4mZ69ex
TAIFEX Newsletter June 2025
TAIFEX
Launch of TAIEX Friday Weekly Options: Effective June 27, 2025, TAIFEX will introduce Friday Weekly TAIEX Options (Friday TXOs), complementing the existing Wednesday-expiring contracts. Listed weekly with a two-week duration, Friday TXOs offer market participants greater flexibility for event-driven strategies and short-term hedging-particularly around earnings announcements and key macroeconomic data released on Thursday nights.
/jlne.ws/43EdKYp
Nasdaq Announces End-of-Month Open Short Interest Positions in Nasdaq Stocks as of Settlement Date May 30, 2025
Nasdaq
At the end of the settlement date of May 30, 2025, short interest in 3,184 Nasdaq Global MarketSM securities totaled 13,504,275,894 shares compared with 13,735,568,588 shares in 3,168 Global Market issues reported for the prior settlement date of May 15, 2025. The mid-May short interest represents 2.19 days compared with 2.41 days for the prior reporting period. Short interest in 1,632 securities on The Nasdaq Capital MarketSM totaled 2,610,068,615 shares at the end of the settlement date of May 30, 2025, compared with 2,731,907,808 shares in 1,639 securities for the previous reporting period. This represents a 1.00 day average daily volume; the previous reporting period's figure was 1.00.
/jlne.ws/4kLWnuL
TMX Group Equity Financing Statistics - May 2025
TMX
TMX Group today announced its financing activity on Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) for May 2025. TSX welcomed 25 new issuers in May 2025, compared with 23 in the previous month and 16 in May 2024. The new listings were 24 exchange traded funds and one mining company. Total financings raised in May 2025 decreased 29% compared to the previous month, and were down 48% compared to May 2024. The total number of financings in May 2025 was 41, compared with 52 the previous month and 37 in May 2024.
/jlne.ws/3Tk0e68
Regulation & Enforcement
OCC Responds to CFTC Request for Comment on Trading and Clearing of Derivatives on a 24/7 Basis
Megan M. Cohen, General Counsel and Corporate Secretary - OCC
The Options Clearing Corporation ("OCC") appreciates the opportunity to submit this letter in response to the Commodity Futures Trading Commission's ("CFTC") Request for Comment on Trading and Clearing Derivatives on a 24/7 Basis. By way of background, OCC was founded in 1973 and is the world's largest equity derivatives clearing organization. OCC operates as a central counterparty ("CCP") under the jurisdiction of both the Securities and Exchange Commission ("SEC") and the CFTC. As a registered clearing agency under the SEC's jurisdiction, OCC is the sole clearing agency for equity options listed on national securities exchanges. As a registered Subpart C DCO under the CFTC's jurisdiction, OCC clears and settles transactions in futures and options on futures. OCC also provides central counterparty clearing and settlement services for securities lending transactions. OCC has been designated by the Financial Stability Oversight Council as a systemically important financial market utility ("SIFMU") under Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank").
/jlne.ws/4mYhaN0
Strategy
Picking the Right Bitcoin Exchange-Traded Fund
Michael "Dr. Data" Rechenthin - tastylive
We prefer IBIT over BITO. Here's why.
The two main crypto exchange-traded funds (ETFs) both cover bitcoin.
IBIT, a spot Bitcoin ETF, directly holds bitcoin with a 0.25% expense ratio. It closely tracks the cyrpto's price.
BITO, a futures-based bitcoin ETF, has a 0.95% expense ratio that invests in Bitcoin futures contracts instead of bitcoin itself.
We prefer IBIT because the volume is 10 times greater than with BITO. Nearly $2 billion worth of this symbol is trading per day (and we use SPY as a comparison).
/jlne.ws/4mY1DwJ
People Are Worried About Private Market Liquidity; Also SREIT, crypto treasury companies, tariff trades, FCPA and Nikola; Liquidity illusions (1)
Matt Levine - Bloomberg
This is a newsletter about funding models now. We talked yesterday about banks, and how their funding model - raising money from depositors who might want their money back at any time - influences what sorts of assets they should buy. But the same questions - how should I fund the assets I own, and what assets should I own given my funding model? - arise everywhere. Here is a simple story of private markets: There are public markets where anyone can buy stocks and bonds, and where the stocks and bonds trade freely. Therefore, people can and do buy stocks and bonds with a fairly short investing time horizon. Individuals day-trade stocks; investment banks and proprietary trading firms make short-term bond trades.
/jlne.ws/4mNJCkK
| | | | JLN Options is sponsored by: | | |
|
|
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
Publisher
Sarah Rudolph
Editor-in-Chief
Jeff Bergstrom
Editor
|
|
Disclaimer: All John Lothian Newsletters, JohnLothianNews.com, MarketsWiki.com and MarketsReformWiki.com are products of John Lothian News, a division of John J. Lothian & Company, Inc. The opinions expressed in all John J. Lothian & Company, Inc. publications are strictly those of their respective editors. They are intended solely for informative purposes and are not to be construed, under any circumstances, by implication or otherwise, as an offer to sell or a solicitation to buy or trade in any commodities or securities herein named. Information is obtained from sources believed to be reliable, but is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. Security futures are not suitable for all customers. Futures and options trading involve risk. Past results are no indication of future performance. Nothing on any John J. Lothian & Company site should be considered an endorsement by any sponsor of any website or newsletter content.
© 2025 John J. Lothian & Company, Inc. All Rights Reserved. |
|
|
