| August 30, 2023 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | Why Crypto and Wall Street Are Longing for Spot Bitcoin ETFs
Olga Kharif and Vildana Hajric - Bloomberg
Investors who want to bet on Bitcoin may soon have more options to choose from. Major financial firms including BlackRock, Fidelity and Invesco have submitted applications to sell US "spot" exchange-traded funds tied directly to Bitcoin holdings, and Grayscale Investments LLC won an Aug. 29 court ruling in its push to turn its Bitcoin trust into an ETF.
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A Bitcoin ETF Is Closer Than Ever. What It Means for Crypto and Coinbase.
Joe Light - Barron's
The debut of a spot Bitcoin exchange-traded fund looks almost like a foregone conclusion after a federal court on Tuesday swatted down the Securities and Exchange Commission's reasoning for denying one such product.
The decision was one of the most highly anticipated rulings of the year, and will have wide implications for the crypto industry. It also matters for traditional firms such as BlackRock (ticker: BLK), Invesco (IVZ), and others that have been champing at the bit to get into digital assets.
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Surge in Hedge-Fund Treasury Shorts Hints at Rise of Basis Trade
Edward Bolingbroke - Bloomberg
A surge in short sales of US Treasury futures suggests hedge funds are expanding basis trades, a popular tactic that may be injecting leverage into a bond market whipsawed in the wake of this month's selloff.
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Hedge funds have made a huge push into risky assets. Here's what that means.
Barbara Kollmeyer - MarketWatch
Tuesday's pop for stocks after some grim job opening data helped the S&P 500 and other indexes trim August losses, though landing in the green for the month may be still be a long shot.
For those investors who have found this summer tough going, a team at UBS led by chief investment officer Mark Haefele offer validation. They say markets have being pulled in opposing directions "netting to no clear direction overall." That's as lots of big simple questions have no answers right now, such as how strong is the consumer and are investors selling rallies or buying dips?
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| | | | | | Exchanges | | | Cboe Global Markets Completes 50th Anniversary Donation Commitment With $100,000 Donation to Doctors Without Borders
Cboe
Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced a donation of $100,000 to Doctors Without Borders/Médecins Sans Frontières (MSF), an international medical humanitarian organization dedicated to delivering emergency medical aid to people in crisis.
The charitable giving accomplishes Cboe's commitment to donating an aggregate total of $500,000 to five different non-profit organizations in honor of its 50th anniversary milestone. Cboe has donated $100,000 to the following organizations over the recent months: Alzheimer's Association, Save the Children, Human Rights Watch and Global Central Kitchen. All the organizations were nominated by Cboe's global associates base, and each organization exemplifies one of Cboe's guiding principles, with Doctors Without Borders reflecting "Good Citizenship" for the medical work it does for people in dire situations.
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| | | | | | Regulation & Enforcement | | | The SEC Releases New Information Regarding A FINRA Rule Change For Options Trading
Press Release
The U.S. Securities and Exchange Commission (SEC) has released information regarding a proposed rule change by the Financial Industry Regulatory Authority, Inc. (FINRA). This change is intended to provide relief in margin requirements for specific index options transactions, referred to as "protected options," and aligns with a similar rule change proposed by Cboe Global Markets (BATS:CBOE) with the SEC.
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Position Limits - Government Of Canada Bond Listed Products (Spot Month)
TMX
The applicable position limits for the Government of Canada Bond futures and options on the Government of Canada Bond futures have been updated and are reflected in the position limit file. The position limit file is available in Annex 1 and retrievable here.
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UK Government implements major post-Brexit Mifir changes; The updates concern systemic internalisers (SI), share trading obligations (STO), double volume caps (DVC), derivatives trading obligations (DTO) and clearing obligations.
Claudia Preece - The Trade
Key proposed amendments to UK Mifir are set to come into effect in the UK today, as outlined in the recent Financial Services and Markets Act 2023. Changes to the framework are intended to reduce trading restrictions as a whole, and thus enable the market to access more diverse liquidity.
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| | | | | | Strategy | | | It's Time to Hedge. This Bet Wins Whether Stocks Rise or Fall.
Steven M. Sears - Barron's
Those who cast long, powerful shadows over the markets often speak without saying much at all.
They often acknowledge the moment in a way that demonstrates their mastery of events and never reveal much of anything that might benefit anyone who is engaged in the great game of skill and luck known as investing.
Jackson Hole, Wyo., is thus the perfect setting for the Federal Reserve's summertime symposium. The surrounding mountains and fields are powerfully silent and imbued with whatever you want to see in them.
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The short-volatility trade is making a comeback in 2023 six years after triggering a historic stock-market wipeout
Joseph Adinolfi - MarketWatch
A trade that blew up in the market's face nearly six years ago, saddling investors with billions of dollars of losses, is making a comeback in 2023.
The so-called short volatility trade has become a moneymaker for systematic funds in 2023, according to data compiled by Rocky Fishman, founder of Asym 500, a research shop that provides research on the equity derivatives market.
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Watch The Two-Year Yield
Cboe (Video)
In #Vol411, Joe Tigay @JoeTigay lets us know that tech and semiconductor #stocks were the best performers last week (contrary to higher yield trends), the market is showing more comfort with higher yield rates, the jobs report will be coming on Friday and more.
/jlne.ws/3KYgWo4
| | | | | | Education | | | Beginner's Guide To Options Trading Strategies
Rodolfo Hernandez - Forbes
Options trading is the buying and selling of options contracts in the market, usually on a public exchange. Options are often the next level of security that new investors learn about following their initial entry into the finance world. As derivatives, which are securities whose values are a function of a separate underlying security or index, options have another layer of complexity compared to a typical security. There are three critical factors when considering trading options versus trading a typical security:
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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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Editor-in-Chief
| | | Jeff Bergstrom
Editor
| | | Asma Awass
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