| June 15, 2023 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | Cboe Global Markets (BATS: CBOE) Grants Investors Access To Regulated Crypto Trading Via Margined Futures Contracts
Cboe Global Markets Inc.
In a groundbreaking development, Cboe Clear Digital, the first U.S.-regulated crypto native exchange and clearinghouse combination platform, has received the necessary approval from the Commodity Futures Trading Commission (CFTC) to complete its planned product offering expansion. This expansion will include the introduction of margined futures contracts, offering traders an exciting and less capital-intensive way to engage with cryptocurrencies. Cboe Digital's vision of fostering trust, transparency and inclusivity in the crypto market could transform the landscape of spot and derivatives trading.
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Chinese ETFs draw options bulls on hopes of a rebound
Saqib Iqbal Ahmed and Laura Matthews - Reuters
Options on several U.S.-listed Chinese exchange traded funds have drawn bullish flows in recent days as some traders take advantage of a slump in bullish sentiment on Chinese companies to place contrarian upside bets. The bullish trades occur as investors, who started this year with an upbeat view on China, betting on a strong economic recovery as the world's second-largest economy emerged from pandemic disruptions, have been largely disappointed amid softening economic indicators.
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Coinbase Vs. SEC Calls Into Question The Future Of U.S. Crypto Exchanges
Kenneth Rapoza Senior Contributor
What is a cryptocurrency exchange and what can it offer retail investors? That is the question. The Securities and Exchange Commission says they are clear on that. Coinbase begs to differ. Now the SEC is suing them in another stress test for the American crypto market. The SEC sued Coinbase on June 6, alleging that the company was operating as an unregistered broker. Think of it as the NYSE and E*Trade acting as one. That is Coinbase. No retail investor buys stocks directly from the NYSE. The SEC said that Coinbase's brokerage operation and its staking programs all violate securities laws in its complaint. The company "has for years defied the regulatory structures and evaded the disclosure requirements" of U.S. securities law.
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Ex-Goldman VP Gave Drunk Squash Buddy Insider Tip, Jury Hears; Niranjan admits he committed insider trading with his friend Buddies smoked marijuana, partied and made $280,000 on trades
A former Barclays Plc trader said he got an insider tip from an ex-Goldman Sachs Group Inc. vice president at a squash court after having too many drinks. That trade netted a $2,000 profit, just a fraction of the $280,000 the two men made in illicit profits from insider trades in 2017, according to Akshay Niranjan. The former trader testified against his friend at an insider-trading trial in Manhattan Wednesday.
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Tranquility reigns over markets still awash with cash, for now
Hellenic Shipping News
Soaring interest rates, slowing economic growth and a banking sector still recovering from a March rout might suggest a note of market caution, yet world stocks are at 14-month highs, the S&P 500 stock index has entered a bull market and gauges of volatility are eerily calm. For some, the answer to exuberant markets lies in the ample cash still sloshing around the financial system. But it may not last, especially with the U.S. Treasury potentially set to drain funds and risk appetite from markets with a surge in bill issuance.
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| | | | | | Exchanges | | | CME Group Inc. Announces Second-Quarter 2023 Earnings Release, Conference Call
CME Group
CME Group Inc. will announce earnings for the second quarter of 2023 before the markets open on Wednesday, July 26, 2023. Written highlights for the quarter will be posted on the company's website at 6:00 a.m. Central Time, the same time it provides its earnings press release. The company will also hold an investor conference call that day at 7:30 a.m. Central Time, at which time company executives will take analysts' questions.
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Russell Reconstitution, Volatility and Strategy Benchmark Indices
Rick Rosenthal - Cboe
The U.S. equity market landscape is constantly evolving. For example, in 2023, the total number of Initial Public Offerings (IPOs) dropped to 181, down from 1,035. Additionally, U.S. corporate bankruptcy filings fell to a 13 year low at 391, and yet corporate market caps were negatively impacted by the Federal Reserve's 7 percent interest rate hikes in 2022.
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Binance Options Launches Volatility Index Binance Volatility Index (BVOL)
Evans Karanja - Inside Bitcoins
Binance, the top cryptocurrency exchange globally, has launched an innovative tool called the Binance Volatility Index (BVOL) to assist traders in steering the vibrant crypto market. Traders and investors can now access the Binance Volatility Index (BVOL) and a range of extensive trading tools through Binance Options' user-friendly platform. This inclusive ecosystem enhances users' trading potential and offers valuable insights into the complexities of cryptocurrency markets, promoting financial education. A high BVOL shows that significant price changes are expected, while a low BVOL suggests minor price fluctuations will occur. The Binance Volatility Index (BVOL) is only available for BTC and ETH on the Binance Options trading platform.
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| | | | | | Regulation & Enforcement | | | Lok Vi Ming appointed SGX Disciplinary Committee chairman; new members announced for independent committees
SGX
Singapore Exchange Regulation (SGX RegCo) has announced that Mr Lok Vi Ming has been appointed chairman of the independent Disciplinary Committee (DC) effective 15 June 2023, replacing Mr Cavinder Bull who was first appointed to the DC in 2017 and has stepped down after six years. Three new members were also appointed to the DC. The Appeals Committee (ApC) has two joiners while the Listings Advisory Committee (LAC) has four.
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| | | | | | Strategy | | | Late To The AI Stock Party? No Problem. Try This Put Option Trade
Gavin McMaster - Barchart
Selling cash secured puts on stocks an investor is happy to take ownership of is a great way to generate some extra income. A cash-secured put involves writing an at-the-money or out-of-the-money put option and simultaneously setting aside enough cash to buy the stock. The goal is to either have the put expire worthless and keep the premium, or to be assigned and acquire the stock below the current price. It's important that anyone selling puts understands that they may be assigned 100 shares at the strike price.
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Goldman Sachs Says Traders Should Use Options to Load Up on These 5 'Strong Buy' Blue Chips
Lee Jackson - 247 Wall St.
One of the oldest and best ways to get leverage for stock trading is to utilize the options markets. While to some it may seem like an exotic (and dangerous) way to trade, in reality using options can offer a much lower cost scenario to own a larger position. Each call option contract represents 100 shares of a stock. So, five contracts equal 500 shares, 10 contracts would equal 1,000 shares and so on. In a new research report, Goldman Sachs screened its Buy-rated stocks looking for companies with reasonable options prices and where the stock has lagged the recent, technology-driven upside move.
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| | | | | | Miscellaneous | | | DeFi options platform uses social logins, margin trading to draw in liquidity; Developers claim Synquote handled one single trade of over $1 million of notional volume with no detectable slippage in its beta period.
Cointelegraph
A DeFi options platform using social logins and undercollateralized trading to draw in liquidity providers just launched, according to a June 15 announcement. The protocol, called "Synquote," is capable of handling large trades with much less slippage than previous options platforms, the team claims. According to the announcement, Synquote did over $25 million of notional volume in its beta period, which began on March 17. The largest trade during this period was for $1 million in notional volume, which was executed without any detectable slippage, developers told Cointelegraph.
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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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