| April 13, 2023 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | LSEG teams with digital trading platform to offer bitcoin futures and options
Huw Jones - Reuters
London Stock Exchange Group (LSEG.L) has teamed up with Global Futures and Options (GFO-X) to offer Britain's first regulated trading and clearing in bitcoin index futures and options derivatives, the companies said on Thursday.
Britain, which aims to become a global hub for crypto technology, launched a public consultation earlier this year on future rules for cryptoassets, which are currently unregulated.
/jlne.ws/3zXuIRH
LSE Group joins battle between exchanges for crypto derivatives
Nikou Asgari - Financial Times
The London Stock Exchange Group plans to begin clearing crypto derivatives, joining the battle among the world's big exchanges to grab a slice of rising institutional demand to trade digital assets.
The UK group will use the Paris arm of its clearing subsidiary, LCH, to manage the risks on bitcoin futures and options traded on GFO-X, a UK regulated marketplace, the company said on Thursday.
/jlne.ws/3zUzcsz
Flows into ETFs treble in March as investors seek safety
Steve Johnson - Financial Times
Flows into exchange traded funds almost trebled to $62.1bn last month, with the bulk heading into safe assets like government debt as investors sought shelter from the recent banking crisis.
Developed market government bond ETFs soaked up a record $33.2bn of the money, eclipsing the previous monthly peak of $27.4bn set in May 2022, according to data from BlackRock.
/jlne.ws/409jUKS
Recession Odds, Inflation Fears Jump as US-Saudi Oil Pact Breaks Down
Ziad Daoud and Courtney McBride - Bloomberg
Just three years ago, when OPEC+ oil giants fell out, the US found itself playing the role of peacemaker. Now it looks more like their target.
The Saudi-Russia oil alliance has the potential to cause all kinds of trouble for the US economy â and even for President Joe Biden's re-election campaign. This month's OPEC+ decision to cut crude output, for the second time since Biden flew to Saudi Arabia last summer seeking an increase, may be just the start.
/jlne.ws/43yaZ8I
FTX's FTT Token Surges 70% After Lawyers Say Exchange Could Restart
WSJ
Collapsed crypto exchange FTX's FTT token surged nearly 70% in the past 24 hours as of Thursday morning after the bankrupt company reiterated that the exchange could restart.
/jlne.ws/3KV6QUb
Gold futures mark their second highest settlement on record
Myra P. Saefong and Joseph Adinolfi - MarketWatch
Gold futures climbed sharply on Thursday, with a weaker U.S. dollar and expectations that the Federal Reserve may cut interest rates this year lifting most-active contract prices to their second highest settlement on record.
/jlne.ws/407Fgs0
| | | | | | Exchanges | | | IEX Exchange enhances 'Crumbling Quote Indicator' to further protect investors amid volatile market conditions
Wesley Bray - The TRADE
IEX Exchange has introduced a new version of The Signal, also referred to as the Crumbling Quote Indicator, a predictive model which targets adverse price changes and powers the exchange's protective order types.
According to the exchange, The Signal is designed to predict imminent changes to the National Best Bid/Offer (NBBO) and allow order types including D-Peg and P-Peg to react positively to unstable market conditions.
PERMANENTLY_REMOVED
LCH SA to launch UK's first centrally cleared trading venue for digital asset derivatives with GFO-X; The two firms will provide clearing on cash-settled digital asset index derivatives with launch expected in Q4 2023.
Wesley Bray - The Trade
Institutional-grade digital assets trading venue GFO-X has entered into a strategic partnership with LSEG's LCH SA to launch the UK's first centrally cleared trading venue for derivatives in this space. At launch, GFO-X will offer trading in cash-settled BTC index futures and options.
/jlne.ws/43vhSHR
Additional Trading Slices and Symbol Redistribution - Revised Schedule
BOX Options
This notice is being issued by BOX Options Market LLC ("BOX") to provide additional information regarding the introduction of four additional Trading Slices and associated symbol redistribution previously detailed in IC-2022-34 and IC-2023-02.
/jlne.ws/3MBr4V9
| | | | | | Technology | | | Exclusive Interview: CQG Executives Talk EMS/OMS With Broadridge, Equity Options, Algos, Security
FinanceFeeds
In the follow-up to FIA Boca 2023, the renowned derivatives industry conference that took place on 14-16 March at The Boca Raton, Florida, FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with CQG's Ryan Moroney and Kevin Darby to learn more about the fintech firm's recent developments. Ryan Moroney, CEO, and Kevin Darby, Vice President of Execution Technologies, spoke about the CQG-Broadridge partnership for a single out-of-the-box EMS/OMS solution, the rise of options trading, CQG's big bet on algo trading, how to use AI, and prioritizing security and systems reliability in today's macro environment.
/jlne.ws/3UsvNdX
| | | | | | Strategy | | | Stocks typically fall after the VIX hits the 'overbought' level it's at now
Lawrence G. McMillan - MarketWatch
The U.S. stock market, as measured by the S&P 500 Index SPX, 1.32%, has not made much if any progress over the past two weeks, even though market internals have generally remained positive. This is a small but annoying divergence. I wouldn't classify it as troubling yet, but this action does show that the headwinds for this market are still strong despite Thursday's rally.
/jlne.ws/3Uzdh3o
Stock Market Options Trades: Hedging Strategy for Volatility, Evercore
Marley Jay - Business Insider
Inflation continues to fade, which means it's much more likely that the Fed's rate hiking campaign is coming to an end.
Investors have been waiting with baited breath for those developments, but that doesn't mean everything will go smoothly from here, according to Julian Emanuel of Evercore ISI. Emanuel runs Evercore's equity, derivatives and quantitative strategy and portfolio strategy teams.
/jlne.ws/406taiY
VIX9D vs. VIX Index
Cboe (Video)
Scott Bauer @cboesib runs through big $VIX #options trades hitting the tape and the behavior of the 9-Day VIX Index compared to the VIX Index in the first quarter. #SPX
/jlne.ws/3oa7JAv
| | | | | | Events | | | International Derivatives Expo
FIA
In the rapidly changing cleared derivatives environment, you have to have the right partners, products, processes and technologies in place to meet the needs of tomorrow. FIA's International Derivatives Expo (IDX) delivers the clearing firms, vendors and exchanges that are driving the growth of the cleared derivatives industry in Europe and around the globe. Find the partners and solutions to build your business and the information you need to successfully navigate regulatory and market developments.
Come to IDX - the crossroads of the industry - and find your path forward.
Registration is open! Register by 19 May for the best rates.
19 June 2023 - 21 June 2023
/jlne.ws/3KXWC6r
| | | | | | Miscellaneous | | | Marex open to US listing in latest blow to London stock market
Harry Dempsey - Financial Times
Commodity broker Marex is considering listing in New York as it looks to revive its plans for an initial public offering, in the latest sign that the London stock market is losing its lustre.
The London-headquartered group cancelled a listing in the UK capital in 2021 with a targeted valuation of between $650mn and $800mn, but is now assessing both cities for a share sale that could take place early next year if market conditions are appropriate.
/jlne.ws/3MFcAUh
Everything You Need to Know About Ethereum's Big Upgrade
Morgan Chittum - Markets Insider
Ethereum's highly-anticipated software upgrade went live late Wednesday, and its implications for the second-largest cryptocurrency are huge.
The network changes, dubbed the "Shanghai" or "Shapella" upgrade, allow stakers, or those who contribute to the smart contract network by holding their ether on it, to begin withdrawing their crypto. Previously, stakers were still earning financial rewards while locking up their tokens, but their investments were less liquid.
/jlne.ws/3KyuCVO
How Silicon Valley Bank's Failure Could Have Spread Far and Wide
Jim Tankersley - NY Times
The federal government's rescue of two failed banks last month has drawn criticism from some lawmakers and investors, who accuse the Biden administration and the Federal Reserve of bailing out wealthy customers in California and New York and sticking bank customers in Middle America with the bill.
But new data help explain why government officials declared the failures of Silicon Valley Bank and Signature Bank to be a risk to not just their customers, but also the entire financial system. The numbers suggest that a run on deposits at those two banks could have set off a cascading series of bank failures, crippling small businesses and economic activity across wide parts of the country.
/jlne.ws/3zU630q
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Editor
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