| April 12, 2023 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | |
Shawn Creighton of FTSE Russell discusses sustainability and ESG with John Lothian News
JohnLothianNews.com
Shawn Creighton, director, Index Derivatives Solutions at FTSE Russell (An LSEG Business) was interviewed by John Lothian News at the FIA International Futures Conference in Boca Raton, FL. about the firm's work as a global provider of benchmarks, analytics, and data solutions.
Watch the video »
| | | | | | Lead Stories | | | Index Insights: Banking Concerns Lead to Quarterly Highs for VIX Index and VIX9D Indices
Matt Moran - Cboe
I'm Matt Moran, and I've followed Cboe's indices for more than two decades. Each month, I'm sharing a look back at market activity across global indices and highlighting where there were opportunities for high yields or risk mitigation. I also love to share historical data and analyze how certain indices have performed over the decades. My hope is that these insights provide good food for thought to help you consider how you might approach similar situations in the future. So, let's dive in.
/jlne.ws/3AcvoTH
Goldman Strategists See More Stock Volatility as Risks Mount
Sagarika Jaisinghani - Bloomberg
Sanguine stock investors are at risk of being rocked by volatility during the rest of 2023 as concerns about a recession intensify, Goldman Sachs Group Inc. strategists say.
Stress in the banking sector and weaker economic data have increased the potential for bigger moves in the second quarter, the team led by Christian Mueller-Glissmann wrote in a note. The strategists said a Goldman model assessing a combination of macro-economic factors, market indicators and broader uncertainties signals a 54% chance of high volatility for the S&P 500, against a 39% chance that moves will be milder.
/jlne.ws/3UvHobX
US Stocks to Stay Volatile Thanks to Knee-Jerk Reactions to Data: UBS
George Glover - Markets Insider
It's going to remain tricky for investors to pick stocks for the rest of this year because markets are still hooked on unpredictable economic data, according to UBS.
The Swiss bank's CIO Mark Haefele expects the choppiness stocks seen in the early months of 2023 to continue, thanks to traders' fixation on the rate of inflation and unemployment.
/jlne.ws/3GzAYmE
Exchange-Traded Notes Are More Dangerous Than They Might Appear
Debbie Carlson - Barron's
Investors might use the terms exchange-traded fund and exchange-traded note interchangeably, but there's a significant difference in the products' structures. Owners of ETNs issued by Credit Suisse Group or other troubled banks may ultimately learn that lesson the hard way.
/jlne.ws/41pOgtG
Here's What Needs to Happen for Stocks to Enter Sustainable Bull Market
Matthew Fox - Markets Insider
The stock market is sitting on the edge of ending a year-long bear market and entering a new bull market after the S&P 500 staged an impressive 18% rally from its mid-October low.
But in order for a new bull market to be sustainable, a few signals have to flash, according to a Wednesday note from Fairlead Strategies' Katie Stockton.
/jlne.ws/3H1GxKT
| | | | | | Exchanges | | | NYSE Group - Reminder - Disaster Recovery Test - April 15, 2023
On Saturday, April 15, 2023, NYSE Group will offer an opportunity for firms to test connectivity to the Disaster Recovery data center in Cermak. NYSE, NYSE Arca, NYSE American, NYSE National, NYSE Chicago, NYSE Amex Options, NYSE Arca Options, Global OTC, and NYSE TRF will be available to test. The test will run between 8 AM ET and 12 PM ET.
/jlne.ws/41kMz0z
Euronext announces highest cash volumes in a year in March 2023
Euronext
Euronext, the leading pan-European market infrastructure, today announced trading volumes for March 2023. Euronext reached the third highest equity value traded in history on 17 March with euro 27.6 billion traded, following an uptick in volatility. Over March 2023, euro 12.7 billion of average daily traded volumes was reported on Euronext markets, the highest level in 12 months. During this time, Euronext reinforced its position as the venue of price formation in Europe thanks to its continued superior market quality.
/jlne.ws/3KRioca
Nasdaq Enhances Risk Platform to Help Banking and Broker-Dealer Community Manage Real-Time Risk
Significant upgrades incorporating additional asset classes and live streaming capability to better navigate extreme market volatility; Number of customers using the Nasdaq Risk Platform increased by over 50% in the last 12 months, reflecting substantial increase in demand for real-time risk capability. Nasdaq (Nasdaq: NDAQ) today announced it has made a series of enhancements to its risk technology platform, which is widely used by the banking and broker-dealer community to manage liquidity and market risk. The upgrades will help firms better navigate extreme market conditions, providing a live view of risk across proprietary and client trading portfolios with detailed analytics to support real-time decision-making.
/jlne.ws/41qUYzT
| | | | | | Regulation & Enforcement | | | Global financial regulator calls for tougher rules after bank panic; FSB chair says rising interest rates, volatility and tight liquidity mean 'more challenging' outlook
Laura Noonan - Financial Times
The global finance system's top regulator has urged officials to "learn lessons" from the recent banking turmoil, saying the latest stresses were a reminder that financial stability is "not merely an abstract concept". Klaas Knot, chair of the Financial Stability Board, wrote in a letter published on Wednesday that the need to tighten rules in response to the panic was "all the greater" because, unlike other recent shocks to the global economy, such as the war in Ukraine and the coronavirus pandemic, "this latest episode had its origins within the financial system".
/jlne.ws/3nXm0Ac
| | | | | | Technology | | | Options Technology readies transition to Options Price Reporting Authority (OPRA) data feed
Rick Steves - Finance Feeds
Options Technology has announced its readiness for the upcoming Options Price Reporting Authority (OPRA) data feed transition scheduled for July 2023.
The upgrade to a fully resilient 100 Gbps mesh network is expected to enhance capacity, data quality, and processing speeds alongside security and compliance.
/jlne.ws/43v1ze8
| | | | | | Moves | | | Goldman reshuffles trading executives after exit of top money spinner
Joshua Franklin and Ortenca Aliaj - Financial Times
Goldman Sachs has made several leadership changes in its global equities trading business following the departure of one of the division's biggest money spinners last month, the bank told employees in an internal memo on Wednesday.
The staffing changes include Dmitri Potishko and Erdit Hoxha becoming co-heads of Goldman's global flow derivatives and emerging markets trading, the bank said in the memo, a copy of which was seen by the Financial Times. The bank confirmed the contents of the memo.
/jlne.ws/3zUqUAU
| | | | | | Strategy | | | 'Asymmetric Alpha' Beats Other Options Strategies
Steven M. Sears - Barron's
Volatility can be good for your portfolio if you have a strong point of view on stocks.
That simple but profound conclusion is the essence of an important study that John Marshall, Goldman Sachs' derivatives strategist, has just completed.
/jlne.ws/3KwpuRV
TRY/USD Bears Gear Up Their Bets Against Turkey's Lira to 10-Month High
Tugce Ozsoy - Bloomberg
Investors are paying the highest premium in nearly 10 months to hedge against further losses in Turkey's lira ahead of the elections in less than five weeks.
The premium on two-month options to sell the lira for the US dollar over those to buy the Turkish currency â known as the 25 delta risk reversals â widened to 13.7 percentage points on Wednesday, the highest level since the end of June. That's the contract with closest maturity that captures the period after the vote. The lira was trading 0.1% lower at 19.3166 per US dollar as of 2:37pm in Istanbul.
/jlne.ws/41lIOrJ
The Fed vs. The Bond Market
Cboe (Video)
In today's #Vol411, @JoeTigay discusses the bond market vs. what is being communicated by the Federal Reserve, and why he's looking at #gold. $SPX $VIX #earnings
/jlne.ws/41lKIIR
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