| March 06, 2024 | | | | | Jeff Bergstrom
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Term of the Week - Compensation for a Potential Obligation
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This week's Term of The Week is Compensation for a Potential Obligation.
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| | | | | | Lead Stories | | | Markets are surviving Powell's testimony as VIX declines
Christine Idzelis - MarketWatch
Wall Street's so-called fear gauge is down slightly Wednesday afternoon, after an earlier jump that began ahead of Federal Reserve Chair Jerome Powell's congressional testimony.
The Cboe Volatility Index, which trades under the ticker VIX, was declining around 1% early afternoon at about 14.3, according to FactSet data, at last check. Powell's testimony before Congress began at 10 a.m. Eastern time on Wednesday.
/jlne.ws/4a0PZdn
Bitcoin Volatility Picks Up After Token's Run to All-Time High; Largest digital asset climbed to a record peak above $69,000; Token didn't stay there long and is gyrating below that level
Suvashree Ghosh and Sidhartha Shukla - Bloomberg
Bitcoin posted sharp swings after printing its first record in more than two years as traders assessed whether demand from recently launched exchange-traded funds can keep the token's rally going. The largest digital asset rose some 4% to $66,000 as of 2:46 p.m. Wednesday in Singapore, helping to lift the wider digital-asset market. A day earlier, Bitcoin touched an all-time peak of $69,191.95 before quickly sinking below $60,000.
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Grayscale's bitcoin ETF sees 'bearish engulfing' pattern after being its most overbought in years
Tomi Kilgore - MarketWatch
After the Grayscale Bitcoin Trust ETF's historic spike to new highs, it would be natural for investors to get spooked by a bearish daily chart pattern on the day after its most extreme "overbought" reading in more than six years.
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Powell in a 'Delicate Dance' With Wall Street as Markets Heat Up
Denitsa Tsekova - Bloomberg
Ever since the Federal Reserve began its policy-tightening campaign, Jerome Powell has been happy to ignore one form of inflation: Rising asset prices.
Now as the Fed chair gears up for his congressional testimony on Capitol Hill, Wall Street is starting to wonder just how long Powell's hands-off approach can last against the backdrop of sizzling markets.
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How ETFs and institutions are driving the surge in Bitcoin prices
Hannah Lang and Suzanne McGee - Reuters
As traditional institutions pour money into bitcoin, the cryptocurrency's latest meteoric rally to a record high may have more legs than in 2021, experts say.
The world's largest cryptocurrency, notorious for its volatility, touched $69,202 on Tuesday, driven by excitement over new U.S. spot bitcoin exchange-traded funds (ETFs) and expectations the Federal Reserve will begin cutting U.S. interest rates this year.
/jlne.ws/3Ir2kM1
| | | | | | Exchanges | | | Cboe Global Markets Reports Trading Volume for February 2024
Cboe Global Markets, Inc.
Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today reported February monthly trading volume statistics across its global business lines. The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain February trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.
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Cboe Now Lists IShares By Blackrock ETFs Across Its Entire Global Exchange Network
Cboe Global Markets, Inc.
Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced that Cboe Australia has listed for trading new Exchange Traded Funds (ETFs) from iShares by BlackRock. With these new iShares ETF listings, BlackRock becomes the first global asset manager to list its iShares ETFs on each of Cboe's listings exchanges in the U.S., Canada, Australia, the UK and the European Union. Three of the funds commence trading on Cboe Australia on February 16, 2024, while two Australian hedged versions of the funds are planned to launch February 23, 2024.
/jlne.ws/3UHKPi4
EEX Group Monthly Volumes - February 2024
EEX Group
EEX Press Release, Monthly Volume Report. EEX Group reports its February volumes with the following highlights: Total monthly trading volume on the EEX Group global power markets exceeded 1,000 TWh for the first time in February 2024, with 1,067 TWh traded in a month, which is a 66% increase year-on-year. Volumes on the European power spot markets grew by 26% YoY, reaching 67.1 TWh. European power derivatives volumes more than doubled YoY, with a 108% growth to 614 TWh. The EEX Nordic Power Markets recorded a substantial growth compared to last year, followed by significant volume increases on the Swiss, Spanish, Belgian and French markets. The German and French power futures markets also registered record monthly volumes. The Japanese Power Futures market had another record month with 6.6 TWh, a 176% growth YoY.
/jlne.ws/3uVCkp7
Cboe's VPD, SPEN, CALD and SPRO Indices Gained More Than 22% Over 12 Months
Matt Moran - Cboe
These Cboe indices gained more than 22% over the last 12 months: Cboe VIX Premium Strategy Index (VPD), Cboe S&P 500 Enhanced Growth Index Series (SPEN), Cboe Validus S&P 500 Dynamic Call BuyWrite Index (CALD), and Cboe S&P 500 Buffer Protect Index Balanced Series (SPRO).
New volatility indices - Cboe MSCI Emerging Markets Volatility Index (VXMXEF) and the Cboe MSCI EAFE Volatility Index (VXMXEA) â provide gauges for global equity volatility. In early 2020 the VXMXEA Index rose from 8.81 on January 20, to 65.76 on March 16, an increase of 646%.
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| | | | | | Regulation & Enforcement | | | Retail regulatory restrictions could boost European listed derivatives markets, but how will institutional brokers be affected? New report explores the potential shift to listed futures and options by retail brokers following increasing regulatory restrictions on contract for difference markets and the impact this will have on competition and the institutional brokerage landscape.
Wesley Bray - The Trade
European retail brokers are expected to target growth in institutional markets alongside expanding into listed derivatives if restrictions on contract for difference (CFD) markets continue to gain traction, a study by Acuiti in partnership with ION has found. In 2023, Spain joined a growing list of European countries set to introduce new restrictions on instruments aimed at retail investors, which would ban the promotion of CFDs and restricting leverage on other instruments.
/jlne.ws/4c51ouE
SEC Pushes Back Decision on BlackRock, Fidelity's Ether ETF Applications
Nikhilesh De - CoinDesk
The U.S. Securities and Exchange Commission (SEC) on Monday delayed making any decision on ether exchange-traded fund applications from BlackRock and Fidelity on Monday, launching comment periods for both applications in the process. The SEC asked public commenters to explain if they agree with Fidelity, BlackRock, Cboe and Nasdaq that the arguments made in favor of the recently approved spot bitcoin ETFs similarly support ETFs that would hold Ethereum's ether. The regulator also wants feedback on whether spot ether ETFs might be susceptible to manipulation and whether spot and futures ether exchange-traded products are similar.
/jlne.ws/3IniA0C
| | | | | | Strategy | | | Bitcoin Could Be a Smart Play in Tumultuous Times
Steven M. Sears - Barron's
Bitcoin and gold might be the surprise winners of a divisive U.S. presidential election.
/jlne.ws/4bWoiEe
VIX
Cboe (Video)
.@JoeTigay has your volatility updates as #markets look for clues about the Fed's interest rate policy while Jerome Powell testifies on the Hill. #Vol411
/jlne.ws/49HQRnh
| | | | | | Miscellaneous | | | FIA announces 2024 President's Award winners
FIA today announced the winners of its President's Award, an annual honor that recognizes outstanding individuals for their contributions to the global cleared derivatives industry over the past year. The 2024 class of President's Award winners are: Natalia da Gama, President's Award - Advocacy; Helen Gordon, President's Award - Capital; Martin Kalnins, President's Award - CCP Risk; Julian O'Leary, President's Award - Operations; Lou Rosato, President's Award - Operations.
/jlne.ws/48HHfaT
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