| June 22, 2023 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | Bitcoin Options Volume Jumps to $3.3B as Price Rallies to Two-Month High; Traders are scrambling for bitcoin calls or bullish bets after the cryptocurrency's sudden rally to nearly $31,000.
Omkar Godbole - CoinDesk
Bitcoin's (BTC) sudden rally to two-month highs has spurred demand for calls and boosted activity in the options market The cryptocurrency's price jumped to $30,800 on Wednesday, the highest since April 14, cheering the recent flurry of spot bitcoin ETF applications by BlackRock (BLK), WisdomTree and Invesco (IVZ), which highlighted a sustained institutional appetite for the world's largest cryptocurrency.
/jlne.ws/46tZYHg
Fidelity, Schwab, Citadel backing new crypto exchange EDX signals TradFi's deeper dive into digital assets
Jacquelyn Melinek - TechCrunch
Earlier this week, EDX Markets launched its digital asset platform, the firm shared on Tuesday. But what has made this launch catch a lot of attention? Its founding investors, which include major traditional firms like Charles Schwab, Citadel Securities, Fidelity Digital Assets and Sequoia Capital, alongside Paradigm and Virtu Financial. The company also recently closed a fresh funding round that brought on additional strategic investors, including Miami International Holdings, DV Crypto, GTS, GSR Markets LTD and HRT Technology. The new capital will be used to help develop EDX's trading platform, among other elements.
/jlne.ws/3NJhJec
Crypto Options Traders Turn to Regulated Platform Amid Scrutiny
Katherine Doherty - Bloomberg Law
As the US increases its scrutiny of the digital-asset sector, one firm is now offering large institutional investors a way to trade crypto derivatives through a regulated platform meant to mirror traditional markets. Firms including SBI Alpha Trading Co. and QCP Capital Pte. have executed cryptocurrency options trades on Clear Markets Holdings Inc.'s platform and used automated collateral management on a blockchain network, the firms announced Thursday. The system enabled Tokyo-based SBI and QCP, headquartered in Singapore, to post Bitcoin as collateral using a custodian of their choice.
/jlne.ws/430ITS1
| | | | | | Exchanges | | | Euronext CEO wins Outstanding Contribution Award
Euronext
Euronext's CEO Stéphane Boujnah received the Outstanding Contribution Award 2023 at Financial News's Trading & Tech Awards in London earlier this month. A vision for Euronext: Stéphane Boujnah's vision for Euronext has seen him realise an ambitious expansion and diversification strategy to establish Euronext as Europe's leading market infrastructure, while significantly increasing the operating performance of the Group. Euronext now counts seven exchanges, four CSDs and one clearing house. It thus manages activities across the entire capital markets value chain, operating under a highly scalable and diversified model that is designed to provide value for customers and stakeholders.
/jlne.ws/3qWMlQr
| | | | | | Technology | | | Robinhood to buy fintech firm X1
Reuters
Robinhood Markets is buying financial technology firm X1 Inc for about $95 million in cash as it looks for new revenue streams to counter weakness in its mainstay trading unit. Robinhood, which was at the center of 2021's meme stock trading frenzy, has seen a decline in retail trading activity due to the impact of interest rate hikes on equity markets.
/jlne.ws/3qVwBNM
| | | | | | Strategy | | | Equity View: Is VIX in for a Seasonal Bounce?
John Tierney - MacroHive
The VIX shows a well-defined seasonal pattern, falling during H1 then rising in H2 before declining late in the year. Closer examination reveals much of the seasonal effect is due to well-known recessions and crises - for example, Covid in 2020, the financial crisis in 2008-09, and the collapse of Long-Term Capital Management in 1998. Excluding those years, the seasonal effect is smaller but still perceptible. With the VIX now trading at the lows of the post-pandemic period, investors are clearly not worried about a recession nor anticipating a major crisis. Any seasonal bounce in the VIX in Q3 could come from Q2 earnings season, if companies start to dial back the optimistic outlooks many posted during the Q1 earnings season.
/jlne.ws/446pMHy
| | | | | | Education | | | The Data Deluge: What Investors Need to Know to Stay Ahead of the Curve
Tony McManus, Global Head of Bloomberg's Enterprise Data Business - Bloomberg via Traders Magazine
Today's institutional investors are steadily becoming much more data driven and quantitative in their investment management strategies. The combination of infinite computing power, data-friendly programming languages, machine learning tools, advances in AI and easy access to financial analytics have collectively reduced barriers to entry and unlocked an abundance of new data sources. Even more traditional fundamental investors are implementing quantitative techniques â a practice the industry has dubbed "quantamental" investing.
/jlne.ws/3Pqf8He
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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
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