| January 23, 2018 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | Ray Dalio says market surge may be ahead: 'If you're holding cash, you're going to feel pretty stupid'
Tae Kim - CNBC
Bridgewater Associates founder Ray Dalio said the tax cut could lead to some big gains for the U.S. stock market.
"We are in this Goldilocks period right now. Inflation isn't a problem. Growth is good, everything is pretty good with a big jolt of stimulation coming from changes in tax laws," Dalio told CNBC on Tuesday from the World Economic Forum in Davos, Switzerland.
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****JB: I like holding cash. The more cash I have in my hand the better in my view.
Wall Street Unnerved by Herd Strategy's Best Month Since 2014
Dani Burger - Bloomberg
Asset allocators hoping to turn a profit this month only needed one simple rule: Don't fight the trend.
Everywhere you look -- stocks, bonds, commodities, currencies -- past winners keep thriving. Despite concern over shifting central bank policies or a sudden flare-up of inflation, January has been more of the same. In fact, cross-asset market momentum has only been this bullish three other times in the past decade.
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10 years of stability shows gold is best hedge against risks in equities
Rajesh Bhayani and Abhishek Waghmare - Business Standard News
Volatility in gold prices last year has been the lowest since 2005, indicating that it is now re-emerging as an asset class alternative to hedge against risks in other investment avenues such as equities. Volatility in gold prices touched 7.4 early this month and is now at 7.6, the lowest since May 2005. Sudheesh Nambiath, Senior precious metal analyst, SE Asia, GFMS Thomson Reuters, says "Volatility is low across various assets, and the reversal in its trend is historically associated with uncertainty. Markets may not have yet factored in potential risks. And any risk event would result in increased volatility, which tends to support a case for higher gold prices."
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Asian LNG derivative volumes quadruples
Emiko Terazono - Financial Times
Volumes on the derivatives market in Asian liquefied natural gas quadrupled last year as trading for the super-cooled fuel undergoes a significant shift, attracting new players to the once closed-off market.
In 2017, 50,236 lots of LNG swaps contracts linked to S&P Global Platts' Japan Korea Marker index, worth just under 170 cargoes, were cleared through exchanges, up from 12,717 lots the previous year.
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Interview with Eric Cott of the OCC's Options Industry Council talking with Jill Malandrino of Nasdaq Trade Talk on the growing use of options by financial advisors.
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| | | | | | Exchanges and Clearing | | | Cboe Global Markets Recognized in Hong Kong As Approved Stock Exchange
Cboe
Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange holding companies, today announced Hong Kong's Mandatory Provident Fund Schemes Authority (MPFA) has included Cboe BZX Exchange, Inc. in its List of Approved Stock Exchanges.
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FIA Releases Summary Statistics For 2017 Futures And Options Volume And Open Interest
Press Release - FIA
FIA today released summary statistics for annual trading activity in the global exchange-traded derivatives markets.
The number of futures and options that changed hands on exchanges around the world stayed roughly the same in 2017 as in 2016, according to FIA's data. The total number of contracts traded in 2017 was 25.199 billion, down 0.1% from 25.220 billion in 2016.
There were variations by product types, however. Options volume globally was up 11.0%, while futures volume was down 6.6% on 2016. There were also variations in volume trends across different regions, with trading activity on exchanges in the Americas rising during 2017, but not enough to offset a decline in trading activity on exchanges in Europe and Asia-Pacific.
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London Metal Exchange stops the volume rot, but CME challenge grows
Andy Home - Reuters
Trading volumes on the London Metal Exchange (LME) increased by a marginal 0.5 percent last year.
Not exactly the most exciting headline in the world of commodities trading, but after two years of contraction, even this modest turnaround will be welcome news for both the LME's management and its owner, Hong Kong Exchanges and Clearing (HKEx).
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New Year, Same Positive Momentum for Taiwan
SGX
Emerging Markets in Asia saw a standout performance in 2017, with the Emerging Markets Asia Index soaring 40%, surpassing the 20% surge in the MSCI World Index, according to MSCI. Taiwan enjoyed a good year as the third-largest country in the Emerging Markets Asia Index with 15% weight by market capitalisation, with the MSCI Taiwan Index registering gains of 14%. It was boosted by strong growth in the technology sector in the third quarter of 2017.
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Nasdaq looking into bitcoin futures different to rivals: CEO
Silvia Amaro and Arjun Kharpal - CNBC
The Nasdaq is assessing how to offer cryptocurrency futures in a way that none of its competitors have so far managed, the CEO of the stock exchange told CNBC Tuesday.
Adena Friedman confirmed earlier reports that the Nasdaq is looking into bitcoin futures, but did not give a timeline for a launch or if it will definitely happen. Though her comments suggest that the development of a product is indeed happening.
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| | | | | | Regulation & Enforcement | | | South Korea is making real-name cryptocurrency trading mandatory by January 30 Â Quartz
Zheping Huang - Quartz
As concerns grow over crypto-mania in the country, South Korea's government is doubling down on efforts to rein in trading of virtual currencies like bitcoin. The latest move is making real-name registration mandatory for crypto traders.
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| | | | | | Technology | | | Hanweck Introduces Borrow Intensity Indicator
Hanweck
Hanweck, a leading provider of real-time risk analytics on global derivatives markets, today announced the launch of the Hanweck Borrow Intensity IndicatorTM. This new product mines data from the equity options market to derive stock borrow rates and term curves in real time. Hanweck Borrow Intensity Indicators rely upon proprietary calculations that transform real-time implied borrow data into time-series with constant maturity characteristics. Indicator data is available for all securities that have listed options.
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Rival Systems Completes Cboe CFE Migration to Bats Technology
Rival Systems
Rival Systems (Rival), an award-winning provider of trading and risk management software, today announced that the firm has already established readiness for the Feb. 25 planned migration of Cboe Futures Exchange (CFE) onto the Bats technology platform. Rival has completed testing and received certification by the exchange for the integration of market data and order entry technology, promoting a seamless transition for clients participating in markets affected by the change.
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| | | | | | Strategy | | | A Cheap Hedge For This Market - SPDR S&P 500 Trust ETF (NYSEARCA:SPY)
Seeking Alpha
The S&P 500 is now 5.66% above its 50-day moving average, the biggest gap in history, which itself is rising sharply.
So financial advisors, pension fund managers, and cautious individuals have been ringing me up asking what is the best way to hedge already heady 2018 gains.
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| | | | | | Events | | | CAIA Chicago - Insights on the Emerging Cryptocurrency Asset Class
 Trading and investment opportunities in cryptocurrencies;
 Initial coin offerings;
 Development of cryptocurrency derivatives and other products;
 Operational risks that are unique to this asset class.
Featured speakers include David Schulz, Director, Global Client Services at Cboe Futures Exchange, Michael Groff, Managing Member at the GCG Fund and Matt Wolf, Partner and CEO at Antonym.
Date(s): February 1, 2018
Event start time: 4:30 PM
Event end time: 7:00 PM
Note: All Times Listed are in Eastern Time
Venue:
CBOE
400 South LaSalle St
Chicago, IL 60605
Fee(s): This event has a fee
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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
Publisher | | | Sarah Rudolph
Managing Editor
| | | Jeff Bergstrom
Editor
| | | Spencer Doar
Editor
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