| | | | | | | March 07, 2025 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | Bitcoin derivatives market surges as traders position ahead of White House crypto summit
Brian McGleenon - The Block
The bitcoin derivatives market is experiencing a surge in buying interest as traders position themselves ahead of Friday's White House Crypto Summit, anticipating potential market-moving announcements.
Cryptocurrency derivatives trader Gordon Grant noted a persistent increase in buying pressure since bitcoin's recent price test of $82,000. He suggests that this could be linked to the re-establishment of leveraged positions, which has driven up open interest and funding rates.
/jlne.ws/3QLTZ9R
Index Insights: February
Cboe
Broad market averages saw solid performance for much of February with the S&P 500 Index (SPX) reaching an all-time closing high on February 19. However, sentiment shifted late in the month as investors grew concerned about economic conditions and significant policy changes across various sectors. By month-end, the S&P 500 Index declined 1.42%, trimming its year-to-date (YTD) gain to 1.24%.
Small-cap stocks decreased more significantly, with the Russell 2000 Index (RUT) dropping 5.45%, leaving it down 3% YTD. Volatility rose in both realized and implied forms, with SPX 30-day historical volatility climbing nearly two points from mid-month lows to 14%. Implied volatility also rose, closing above 21 on February 27 and ending the month at 19.43.
/jlne.ws/41N7UTw
Chaotic Market Burns Array of Hedge Fund Strategies in February
Nishant Kumar, Bei Hu, Siddharth Philip and Hema Parmar - Bloomberg
Millennium Management, Citadel and other top hedge funds posted lackluster returns in February, as market gyrations reversed momentum on key trades and clobbered popular stocks. Multistrategy firms with an equity market-neutral bias took some of the biggest hits. Those losses were driven by overcrowding in a small group of stocks, particularly health care and technology.
/jlne.ws/4iajVYS
Stocks turn lower in volatile trading as investors 'shoot first and ask questions later'
Joseph Adinolfi - MarketWatch
U.S. stocks have swung back lower on Friday, erasing early gains and adding to their losses in what's shaping up to be the worst week since September.
As for what's driving the move, it was difficult to pinpoint a specific catalyst, said Thomas Martin, senior portfolio manager at Globalt Investments.
/jlne.ws/3Fcm9IH
Nasdaq 100 Tumbles Into a Correction as Tech Selloff Intensifies
Ryan Vlastelica - Bloomberg
The Nasdaq 100 Index sank into a correction on Friday, as investors continue to sour on the megacap technology stocks that led the stock market rally over the past two years.
The index was down 0.8% at 10:37 a.m. in New York and is now 10.2% below a peak hit just last month, putting it past the 10% threshold that represents a market correction. Among notable decliners, Nvidia Corp. slid 0.7%, Amazon.com Inc. fell 1.5%, and Microsoft Corp. 1.9%. The Bloomberg Magnificent 7 Total Return Index, which entered a correction of its own in late February, 1.1% on Friday.
/jlne.ws/41MPxOv
Wall Street Fear Gauge Stays High at the End of a Wild Week for Markets
George Glover - Barron's
President Donald Trump's quickly changing policies on tariffs have roiled markets this week-and the most widely-followed gauge of market fear and uncertainty helps capture the sense of panic.
The Cboe Volatility Index, which tracks S&P 500 options and trades under the ticker VIX, has jumped 26% over the past five days. On Friday, it edged lower to just under 25, with any reading of above 20 typically seen as a sign of heightened volatility.
/jlne.ws/4itkjBr
Here's what recent history says happens after the S&P 500 breaches this critical level; Stocks look oversold but don't bet on a V-shaped recovery this time, says this strategist
Jamie Chisholm - MarketWatch
The Trump-tariff hokey pokey has not been good for investors' nerves. The last six sessions have seen the S&P 500 register an average move of 1.5%, with four chunky losses and two big gains.
And that doesn't fully reflect the intraday wobbles. Little wonder the CBOE VIX index, a gauge of expected S&P 500 vacillation, is elevated at around 25.
/jlne.ws/41xCKOv
| | | | | | Exchanges | | | Nasdaq wants to launch 24-hour trading Monday through Friday. Here are the challenges it faces.; The exchange operator is asking regulators for permission to expand trading hours on its biggest stock exchange, the Nasdaq Stock Market
Joseph Adinolfi and Gordon Gottsegen - MarketWatch
Nasdaq Inc. on Friday announced the most ambitious plan yet by a major U.S. exchange operator to allow stocks to be traded around the clock.
Nasdaq President Tal Cohen said in a blog post that his firm could soon offer trading 24 hours a day, Monday through Friday, on its main stock exchange, the Nasdaq Stock Market.
/jlne.ws/3QRNMJy
Miami International Holdings Announces Launch of Hourly Bitcoin Range Binary Options on MIAXdx
MIAX
March 7, 2025 - Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced the launch of Bitcoin Range Binary (BTCRB) Options on its MIAX Derivatives Exchange (MIAXdx). BTCRB Options are fully-collateralized, cash-settled binary options on Bitcoin (BTC) that expire each trading hour and are settled to the dxFeed Bitcoin Reference Index. BTCRB Options are offered on MIAXdx in $10 units with a minimum tick size of $0.01.
/jlne.ws/4iwjxng
Toronto Stock Exchange Celebrates 35 Years of ETF Innovation; World's first ETF launched on TSX in 1990; industry marks milestone with a special market close ceremony
TMX
Today, Toronto Stock Exchange (TSX) proudly marks the 35th anniversary of the world's first exchange-traded fund (ETF) with a special market close event featuring guests from across Canada's ETF industry. The Toronto 35 Indexà Participation Units, or TIPs, the world's first exchange-traded, index-linked product, was launched on March 9, 1990, and served as the prototype for the modern-day ETF. As ETFs have grown into a leading global investment vehicle, the Canadian ETF market has remained at the forefront of the industry, with TSX leading the way in innovation, including listing the world's first fixed income ETF in 2000 and the world's first Bitcoin ETF in 2021.
/jlne.ws/4ia6kRh
Miami International Holdings Participates in Ring the Bell for Gender Equality Campaign for International Womens Day
MIAX
Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, announced it ceremoniously rang the opening bell at its Princeton, N.J. headquarters on March 5, 2025, in honor of the World Federation of Exchanges' (WFE) "Ring the Bell for Gender Equality" campaign. The campaign aligns with International Women's Day on March 8, 2025.
/jlne.ws/3FbDTUD
| | | | | | Technology | | | Cboe Canada Completes Technology Migration
Cboe Global Markets
Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced it successfully migrated Cboe Canada's NEO-L, NEO-N, and NEO-D trading books (collectively, the NEO Trading Platform) to Cboe Titanium on March 3. Cboe Titanium is the new name of the technology platform powering Cboe's world-class exchange operations for trading equities, options, and futures across its markets globally.
/jlne.ws/3XtYp9g
| | | | | | Moves | | | Cboe Announces Promotion of Chief Technology Officer Tim Lipscomb to Executive Vice President
Cboe Global Markets
Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced the promotion of Tim Lipscomb to Executive Vice President, Chief Technology Officer, and appointment to the company's executive leadership team. In this role, Mr. Lipscomb will continue to oversee the expansion of Cboe's technology platform globally, further reinforcing the importance of technology and innovation to the company's organic growth strategy.
/jlne.ws/3QTBekQ
| | | | | | Strategy | | | Volatility ETFs Spike on Growing Trade War Fears
TradingViews
Volatility roared back in recent weeks amid uncertainty surrounding U.S. trade policy and growing anxiety about a slowing U.S. economy. The volatility level represented by the CBOE Volatility Index, also known as the fear gauge, jumped 13.4% to 24.87 on March 6, marking its highest close since Dec. 18. This gauge is up 60% over the past month.
This suggests that market worries have started to set in. This fear gauge tends to outperform when markets are declining or fear levels about the future are high.
/jlne.ws/3DbYbwN
| | | | | | Miscellaneous | | | Tariff Anxiety and the Dilemma of Forecasting; Investors want clarity. Will the Trump administration stand up to the market?
John Authers - Bloomberg Opinion
Tariffs Tremors
Paraphrasing FDR, there is an argument that we have nothing to fear from tariffs, save tariff fear itself. There are arguments that the cost might not be that high, but forecasting is maddeningly difficult because US policy is so inconsistent. Thursday, the US lifted the 25% tariffs on Mexico and Canada three days after it imposed them. This was what many wanted to hear, but amped up the uncertainty and volatility surrounding trade policy.
/jlne.ws/41tz2pe
Garrett Smith Mentors Kansas City Youth
Cboe
Garrett Smith, Senior Internal Auditor, Data Analytics, received Cboe's 2024 Outstanding Community Service Award for his work with Big Brothers Big Sisters Kansas, a non-profit that creates one-to-one mentoring relationships for the youth of Kansas City who are facing a variety of challenges.
Garrett has been volunteering at Big Brothers Big Sisters Kansas for the past year and recently joined the organization's board of directors, helping with the behind the scenes work like planning events and fundraising initiatives. Big Brothers Big Sisters pairs together volunteers who fill the role of a "big brother" or "big sister" with youth who need mentoring and support. The one-on-one relationship gives the children participating a positive role model.
/jlne.ws/3DpnpYA
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