| October 30, 2023 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | | EDITOR's NOTE: Apologies for the late delivery of the newsletter. The company we use to email our newsletters was down for a while.
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Women in Derivatives Rebrands as Women in Financial Markets: A Pivot Towards a More Inclusive Future
JohnLothianNews.com
Women in Derivatives has unveiled its rebranding as Women in Financial Markets (WIFM). John Lothian News reached out to Marisol Collazo, WIFM board chair, and Cassandra Seier, the organization's president & CEO, for insights into the rebrand and other developments within the organization.
Watch the video »
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WIFM's Broad Appeal: Rapid Program Fill-Up, Male Ally Initiatives, and Record-breaking Gala Attendance Highlighted by Leadership
JohnLothianNews.com
In the second segment of JLN's conversation with WIFM's Chair Marisol Collazo and President & CEO Cassandra Seier, Collazo pinpointed high-caliber events and robust networking as major draws for members.
Watch the video »
| | | | | | Lead Stories | | | Crude oil sees new short sales as interest rates rise
John Kemp - Reuters
Portfolio investors resumed selling petroleum last week as fears about conflict in the Middle East disrupting production were replaced by concerns about rising interest rates and the impact on the global economy and oil consumption.
Hedge funds and other money managers sold the equivalent of 14 million barrels in the six most important petroleum futures and options contracts over the seven days ending on Oct. 24.
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Hedge funds increasingly uneasy over impact of FX prime broker consolidation on liquidity; Capturing new or unique trading opportunities among the main reasons for 24% of hedge funds looking to change or increase their number of FX prime brokerage providers, finds Acuiti report.
Claudia Preece - The Trade
As consolidation among sell-side providers of FX prime brokerage (FX PB) continues, hedge funds are growing increasingly uneasy about the risk of reduced access to liquidity, an Acuiti report has found. This is specifically as a result of offboarding, a highly disruptive process which is also costly due to the process of finding and onboarding new prime brokers, highlighted by respondents as a significant drag.
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Hedge Fund Two Sigma Is Hit by Trading Scandal; Firm tells clients that researcher made unauthorized adjustments that resulted in $620 million in unexpected gains and losses
Gregory Zuckerman and Juliet Chung - The Wall Street Journal
A researcher at Two Sigma Investments adjusted the hedge fund's investing models without authorization, the firm has told clients, leading to losses in some funds, big gains in others and fresh regulatory scrutiny. The researcher, Jian Wu, a senior vice president at New York-based Two Sigma, was trying to boost his compensation, Two Sigma has told clients, without identifying Wu. He made changes over the past year that resulted in a total of $620 million in unexpected gains and losses, according to people close to the matter and investor letters. Two Sigma has placed Wu on administrative leave.
/jlne.ws/3FBw1sn
Hedge Funds Pile Into Uranium Stocks Set for 'Dramatic' Rise; Uranium prices have soared 125% since the end of 2020; IEA estimates global nuclear capacity needs to double by 2050
Sheryl Tian Tong Lee - Bloomberg
Several hedge fund managers have started ratcheting up their exposure to uranium stocks, as they bet on significant price gains. Terra Capital's Matthew Langsford, Segra Capital's Arthur Hyde, Argonaut Capital Partners' Barry Norris and Anaconda Invest's Renaud Saleur are among managers building bets on uranium companies such as Cameco Corp., Energy Fuels Inc., Ur-Energy Inc. and NexGen Energy Ltd.
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'Range of uncertainties' faces Federal Reserve at rate-setting meeting
Colby Smith - Financial Times
Just days before Federal Reserve officials hunkered down to prepare for this week's policy meeting, chair Jay Powell conceded that the US central bank's already difficult job had become even trickier.
"A range of uncertainties, both old and new, complicate our task of balancing the risk of tightening monetary policy too much against the risk of tightening too little," the Fed chair told an event hosted by the Economic Club of New York.
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| | | | | | Exchanges | | | CME Group Expands Suite of Short-Term Options on U.S. Treasury Futures
CME Group
CME Group, the world's leading derivatives marketplace, today announced the expansion of its U.S. Treasury options suite with the launch of Monday expiries. In addition to the existing Wednesday and Friday expiries, Monday expiries can deliver more precise risk management around market-moving events.
/jlne.ws/49pVi6K
ICE Expands Global Energy Portfolio With the Launch of TTF Natural Gas Calendar Spread Options
Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, and home to the broadest range of benchmarks to support the liberalization of natural gas, today announced plans to launch TTF Natural Gas Calendar Spread Options (CSO) on December 11, 2023, subject to regulatory approval. TTF is the global benchmark for natural gas and TTF CSOs allow market participants to take a position on the expected price differentials between TTF natural gas futures with different delivery months. ICE expects to list TTF CSOs for a range of delivery months, including 1-month to 6-month and 12-month contracts.
/jlne.ws/49frd9J
Saudi Exchange announces its intention to launch Single Stock Options contracts; The Saudi Exchange will launch physically settled American options; SSOs contracts will be available to trade on the 27th of November 2023
Zawya
The Saudi Exchange today announced its intention to launch the Single Stock Options (SSOs) contracts, the third derivatives product to be introduced in the Saudi Exchange. SSOs contracts will be available to trade on 27 November 2023, enabling local and international investors to hedge and manage portfolio risks effectively. SSOs contracts will be cleared and settled by the Securities Clearing Center Company (Muqassa) in line with international best practices.
/jlne.ws/3tQgNgx
MIAX Exchange Group - Options And Equities Markets - Daylight Saving Time
Press Release
Please be advised the MIAX Options, MIAX Pearl Options, MIAX Emerald Options and MIAX Pearl Equities Exchanges are scheduled to end Daylight Saving Time at 2:00 AM on Sunday, November 05, 2023. The MIAX Exchange Group will adjust the system time back 1 hour for trading beginning Monday, November 06, 2023.
/jlne.ws/3scbwiU
| | | | | | Moves | | | Miami International Holdings Appoints Kelli Annequin as Chief Marketing Officer
MIAX
Miami International Holdings, Inc. (MIH), owner of Miami International Securities Exchange, LLC (MIAX ), MIAX PEARL, LLC (MIAX Pearl ), MIAX Emerald, LLC (MIAX Emerald ), MIAX Sapphire, LLC (MIAX SapphireTM), Minneapolis Grain Exchange, LLC (MGEXTM), LedgerX LLC (LedgerX), The Bermuda Stock Exchange (BSX), and Dorman Trading, LLC (Dorman Trading), today announced that Kelli Annequin has joined the company as Chief Marketing Officer. In this newly created position, Ms. Annequin will oversee MIH's global marketing and branding functions to support the company's business goals.
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| | | | | | Strategy | | | Where Is the Stock Market Headed? Big Money Pros Weigh In.
Lauren Foster - Barron's
When volatility grips the market, as it has in recent weeks, investors may be tempted to turn to strategies that promise a smoother ride, such as low-volatility stock funds. But it's important to look under the hood, experts say, as portfolio constructionâand performanceâcan vary widely.
/jlne.ws/3SlXHJt
Ford Options
Cboe (Video)
[2:30 PM] Garza, Alexandra In #Vol411, Joel Hawthorne @louiswinthrop lets us know that the most active #options on the $VIX today are the 19-strike #calls expiring Nov. 15, the most active #equity options traded today are the $TSLA 200-strike #puts expiring Nov. 3, notable economic data to anticipate this week and more.
/jlne.ws/3tPqR9v
How to Trade VIX Options Based on IV Ranks
Kai Zeng - tastylive
Recently, the volatility index (VIX) has experienced a sharp increase to around 20%, significantly above its historical average.
This has been mirrored by a parallel rise in the implied volatility of the VIX (also referred to as the volatility of volatility, or VVIX), thereby presenting a broader range of opportunities for contrarian traders interested in selling options directly on the volatility index.
/jlne.ws/472PKwW
| | | | | | Education | | | How to Trade Earnings with Options
Mike Butler - tastylive
When companies announce earnings, the stock price usually moves based on whether they beat or missed earnings-per-share (EPS) estimates, revenue estimates or a combination of both. For the most part, we know what to expect from an EPS and revenue standpoint, but there can be big misses or big beats, depending on the situation at hand.
/jlne.ws/3SnIojo
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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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| | | Jeff Bergstrom
Editor
| | | Asma Awass
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