| August 23, 2024 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
|
| | | | Observations & Insight | | |
FIA Tech and Nasdaq Join Forces to Revolutionize Post-Trade Landscape
JohnLothianNews.com
London - (JLN) - In June, during the FIA's IDX in London, Nick Solinger, president of FIA Tech, announced a transformative partnership with Nasdaq aimed at revolutionizing the global post-trade industry. The interview, now released by John Lothian News as part of the JLN Industry Leader video series, highlights the ambitious plans to enhance data transparency and efficiency in the clearing process, responding to the industry's evolving challenges in the wake of the Covid-19 pandemic.
Watch the video »
Rama Pillai - SGX Group
Watch Video »
Summer Mersinger - CFTC
Watch Video »
++++
LaSalle Street Move Scouts Forward Fundraiser
www.tinyurl.com/LaSalle4Scouts
On September 25, the Pathway to Adventure Council of the Boy Scouts of America is hosting the LaSalle Street Move Scouts Forward event at the Chicago Board of Trade Building. This annual tradition, dating back to 1971, brings together professionals from LaSalle Street to support Scouting in our community. The highlight of the evening will be a pinewood derby race. You'll have the opportunity to build your own car or lease one at the event. It's a fantastic way to tap into your competitive spirit while enjoying cocktails and delicious food with colleagues and friends. Your participation will directly benefit Scouting programs that help develop leadership skills and character in our youth. There are various sponsorship levels available to suit your preferences. The event will be held at Ceres, with plans to move outdoors if weather permits. It's a perfect opportunity to network, have fun, and make a difference.
Click Here to Register » | | | | | | Lead Stories | | | US Options Market is in Early Innings of Growth
Shanny Basar - Markets Media
Nasdaq reported record index options revenues in the second quarter of this year but believes that growth is just beginning.
Kevin Davitt, Nasdaq's head of index options content, said in a blog that index options trading has grown dramatically during the last three years. He said: "Notably, S&P 500 index-pegged options saw a 31% increase from 2022 to 2023 and 8% from 2023 to 2024, and Nasdaq 100 Index Options (NDX) experienced a 59% rise between 2022 and 2023 and a 40% increase from 2023 to 2024."
/jlne.ws/4g0pUz4
Market volatility looks more likely post-Jackson Hole; Ironically, Jay Powell's speech has encouraged markets to run even faster and with more confidence
Mohamed El-Erian - Financial Times
Many questions surrounded how Federal Reserve chair Jay Powell would frame his highly anticipated remarks at Jackson Hole on Friday, including the balance between tactical and strategic. In the event, Powell opted for a dual focus in what will be viewed as his second milestone speech, the first being his 2022 eight-minute remarks stressing forthcoming "pain" to the economy.
/jlne.ws/4dFHGG3
Currency Market's Biggest Short Bet Tested as Loonie Rallies
Carter Johnson - Bloomberg
Traders have piled into record wagers against the loonie, betting that a rapidly slowing Canadian economy and a dovish central bank will deepen the currency's 2024 decline. Hedge funds and asset managers amassed a roughly $14 billion short position in the Canadian dollar in early August, Commodity Futures Trading Commission data show. It was the largest for the loonie in data going back to the 1990s and nearly double the prior peak bet on losses in Canada's currency. The stance has since shrunk a bit as the loonie has strengthened the past few weeks, but it's still quadruple the size of the next biggest currency short: against the Swiss franc.
/jlne.ws/4cAvqVX
BlackRock's Ethereum ETF Surpasses $1 Billion in Net Inflows
Hope C - CoinMarketCap
BlackRock's spot Ethereum (ETH) ETF, the iShares Ethereum Trust ETF (ETHA), has exceeded $1 billion in net inflows. Launched in late July alongside offerings from seven other asset managers, ETHA has outpaced its competition significantly. Fidelity's Ethereum Fund trails behind with $367 million in net inflows, followed by Bitwise's Ethereum ETF at $310 million, and Grayscale's Ethereum Mini Trust at $227 million. However, these three ETFs still fall short of the inflows to ETHA.
/jlne.ws/4fWIOXd
Bank of Japan governor Kazuo Ueda warns global markets are 'unstable'; Parliament told there will be no change to central bank's basic stance on monetary easing
Leo Lewis - Financial Times
The Bank of Japan's governor warned on Friday that global markets remained unstable as he reaffirmed his commitment to raising interest rates should the country's inflation and economic growth remain on track. Kazuo Ueda's remarks came after nearly six weeks of extreme market volatility during which the yen weakened to a historic low of 161 Yen to a dollar before sharply reversing course and surging more than 10 per cent. The Japanese stock market climbed to an all-time high before enduring its biggest ever one-day crash.
/jlne.ws/3XfVNw0
****** The trader in me says, "Sounds like Mr. Ueda is short volatility.~JJL
Jackson Hole History Points to Powell Sidestepping Market Shocks; Past speeches saw 10-year yield move 4 basis points on average; Traders lock in bets on a quarter-point rate cut in September
Ye Xie and Liz Capo McCormick - Bloomberg
If Treasury and US stock markets are betting on one thing from Jerome Powell at the Jackson Hole symposium Friday, it's this: He'll play it safe.
It's a critical moment for the Federal Reserve chair as he tries to navigate through a month that saw a gauge of equity volatility briefly spike to a generational high and bond traders going all in on bets that the US central bank is on the cusp of slashing interest rates.
/jlne.ws/3YQWNbc
| | | | | | Exchanges | | | Cboe sets records in credit futures as competition heats up
Gregory Rosenvinge - FOW
Cboe Global Markets hit a new record for one of its corporate bond index futures on Wednesday, with open interest also hitting a record and more than doubling across 2024.
/jlne.ws/3SVLjz9
European retail traders turn to futures as sophistication increases
Eurex
Retail traders across Europe increasingly trade in listed futures and options markets as regulatory curbs hit traditional retail instruments and educational efforts boost sophistication. Eurex spoke with Dominic Schorle, Business Development Manager at WH SelfInvest and VincenzoâEUR¯Zinna, Equity and Index Sales EMEA atâEUR¯Eurex, about what is driving the growth of retail investment and what it means for strategies and approaches to the market. Retail trading in Europe has traditionally been focused on OTC products such as CFDs, turbos and certificates. However, recent regulatory moves in numerous European countries to reduce the risk of losses incurred by retail traders, have resulted in curbs on marketing of certain products. In response, retail traders are increasingly turning to listed derivatives.
/jlne.ws/3T0hUUP
Eurex markets one year since latest Korean options launch
Gregory Rosenvinge - FOW
Eurex has marked one year since the launch of Monday weekly options tracking the South Korean KOSPI 200 index, noting it is the "only exchange" offering KOSPI derivatives.
/jlne.ws/4dBaH5H
| | | | | | Regulation & Enforcement | | | India proposes tighter rules for derivatives trading on individual stocks
Jayshree P Upadhyay - Reuters via Yahoo Finance
India's markets regulator has proposed tighter rules on trading in individual stock derivatives, arguing the rules were needed to avert risks of market manipulation after recent explosive growth particularly in options trading.
The move comes after two sources familiar with the matter told Reuters in April that India's top financial regulators would form a committee to assess stability risks emerging from a surge in derivatives markets.
/jlne.ws/3XjWGnu
| | | | | | Strategy | | | Buy the dip in the VIX, strategist concludes after watching Powell
Seana Smith and Madison Mills - Yahoo Finance
Speaking at the Kansas City Fed's Jackson Hole Economic Policy Symposium, Fed Chair Jerome Powell indicated that the central bank is ready to cut rates.
Homrich Berg chief investment officer Stephanie Lang and Interactive Brokers chief strategist Steve Sosnick joined Catalysts to discuss Powell's comments.
/jlne.ws/3AF5GKT
Anything But A Sleepy August
Cboe (Video)
Get updates from @angiemiles on the Federal Reserve's Jackson Hole Economic Symposium, trading activity in Russell 2000 #options and more in the #RUTreport.
/jlne.ws/3Z2Eujv
| | | | | | | | | JLN Options is sponsored by: | | | | | | | | | | | | | | | | | | | |
|
|
| | | |
| | | | 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
Editor-in-Chief
| | | Jeff Bergstrom
Editor
| | |
|
|
Disclaimer: All John Lothian Newsletters, JohnLothianNews.com, MarketsWiki.com and MarketsReformWiki.com are products of John Lothian News, a division of John J. Lothian & Company, Inc. The opinions expressed in all John J. Lothian & Company, Inc. publications are strictly those of their respective editors. They are intended solely for informative purposes and are not to be construed, under any circumstances, by implication or otherwise, as an offer to sell or a solicitation to buy or trade in any commodities or securities herein named. Information is obtained from sources believed to be reliable, but is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. Security futures are not suitable for all customers. Futures and options trading involve risk. Past results are no indication of future performance. Nothing on any John J. Lothian & Company site should be considered an endorsement by any sponsor of any website or newsletter content.
© 2023 John J. Lothian & Company, Inc. All Rights Reserved. |
|
|
