| January 06, 2022 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | Cboe Global Markets Reports Trading Volume for December and Full Year 2021
CBOE
Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, today reported December monthly and full year 2021 trading volume statistics and projected rate per contract/net revenue capture for the fourth quarter of 2021 across its global business lines.
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain December and full-year trading statistics and market share by business segment, volume in select index products, and full quarter RPC/net capture across business lines.
/jlne.ws/33aabw3
'I'm not nervous in the medium term but we're going to have a lot of volatility,' says crypto bull Novogratz, as bitcoin adds to Fed-fueled tumble
Mark DeCambre - MarketWatch
Crypto was turning out to be an unlikely casualty in the downturn sparked by minutes from the Federal Reserve that turned out to imply a more aggressive approach to tightening from the central bank than had been expected.
/jlne.ws/3JKGRx3
Nasdaq Steadies After $1 Trillion Rout, Pointing to a Bumpy 2022
Thyagaraju Adinarayan - Bloomberg
Technology stocks opened slightly higher after nearly $1 trillion in value got wiped out of the Nasdaq Composite Index this week as a surge in U.S. bond yields spook investors.
Nasdaq 100 was 0.4% higher on Thursday after the worst two-day rout since March even as Tesla Inc. and Netflix Inc. fell more than 1%. U.S. 10-year Treasury yields traded near 1.75%, the highest in about 10 months. The benchmark S&P 500 Index was up 0.3% in morning trading in New York, showing signs of stabilization.
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Investors dash out of US tech stocks in powerful market rotation
Eric Platt and Joe Rennison - Financial Times
Investors dumped shares in many of the technology companies that surged during the pandemic as the looming spectre of higher interest rates prompted them to buy into businesses more tightly linked to the economic recovery.
The technology-heavy Nasdaq Composite index closed 3.3 per cent lower on Wednesday, its worst day since February 2021, while a sell-off in the $22tn US Treasury bond market intensified.
/jlne.ws/3JJ43fn
Interest-Rate Worries Batter Stock Market
Hardika Singh - WSJ
Major U.S. stock indexes fell Wednesday as investors worried that the Federal Reserve might respond more aggressively to rising inflation than previously anticipated.
Markets had largely continued 2021's momentum into the new year. The prospect of higher interest rates and an accelerated shrinking of the Fed's bond portfolio, however, has clouded investors' outlooks.
/jlne.ws/3JLBmOO
Mexico's Famed "Hacienda Hedge" Could Shrink If Pemex Curbs Exports
Alex Longley and Devika Krishna Kumar - Bloomberg
Mexico's plan to halt crude exports by 2023 could curb the size of its giant oil hedge and help boost longer-dated prices.
Each year, Mexico participates in one of the biggest and most secretive deals in the oil market, locking in prices of its net exports. The trade effectively makes the Mexican finance ministry one of the biggest sellers of oil contracts for 12 months ahead.
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| | | | | | Exchanges | | |
Tradeweb reports record volume year in 2021
ETF Express
Average daily volume (ADV) for the month was USD915.9 billion, an increase of 9.8 per cent year-over-year (YoY), with preliminary average variable fees per million dollars of volume traded of USD2.55 for the fourth quarter of 2021.
For the fourth quarter of 2021, Tradeweb reported total trading volume of USD69.7 trillion and record ADV of USD1.11trillion, up 24.1 per cent YoY, with quarterly ADV records in US government bonds, US High Yield credit, and swaps/swaptions = 1-year.
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| | | | | | Strategy | | | The tech sell-off sparked by hawkish Fed minutes is a major buying opportunity for investors, Wedbush says
Matthew Fox - Markets Insider
A Fed-driven sell-off in technology stocks is creating a massive buying opportunity for investors, according to a Wednesday note from Dan Ives of Wedbush.
The Nasdaq 100 plunged more than 3% on Wednesday after minutes released by the Federal Reserve revealed the potential for quicker-than-expected interest rate increases and quantitative tightening later this year. Ark Invest's flagship ETF sold off as much as 7% and is down 12% year-to-date.
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Opinion: This is the key support level for the S&P 500 --- and it's not far from it
Lawrence G. McMillan - MarketWatch
The S&P 500 index has seemingly run out of gas after reaching new all-time highs. It is now testing support near the 4700 level.
/jlne.ws/3t4psJV
| | | | | | Technology | | | VERMEG's COLLINE Collateral Suite Adds New Margin Analytics Capabilities from Cassini Systems
VERMEG
VERMEG, a specialized software house providing Banking, Capital Markets, Insurance and Digital solutions, and Cassini Systems, the leading provider of pre- and post-trade margin and collateral analytics for derivatives markets, have partnered to assist financial institutions in complying with Initial Margin (IM) requirements for uncleared over-the-counter (OTC) derivatives, exchange-traded derivatives (futures and options) and prime brokerage. VERMEG has integrated Cassini's margin analytics platform into its COLLINE collateral suite, giving its clients a powerful new tool for achieving cost efficiencies and helping to meet requirements of the Uncleared Margin Rules (UMR).
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| | | | | | Events | | | Hedge Fund Conferences Are Back With Speakers Like Marc Lasry and Derek Jeter
Alyson Velati - Business Insider
Hedge fund managers and investors will soon be packing their bags and heading to the Sunshine State as conference season heats up.
After two years of virtual events, webinars, and Zoom fatigue, a slew of alternative investment events are set to begin â and they will all be mostly in-person this year, despite an explosion of coronavirus cases due to the Omicron variant.
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| | | | | | Miscellaneous | | | FIA mourns industry icon Robert J O'Brien
FIA
In 2014, FIA honoured Robert J O'Brien, chairman emeritus of the eponymous R.J. O'Brien & Associates, for his firm's centennial anniversary celebrating 100 years of innovation and leadership in the cleared derivatives industry.
FIA joins the futures industry in mourning the loss of Robert J O'Brien, chairman emeritus of R.J. O'Brien, at the age of 103. As the former President of the firm - the last surviving founding member firm of the Chicago Mercantile Exchange - Bob sat on the board of CME from 1964 to 1977, serving as its chair in 1967-68. He was inducted into FIA's Futures Hall of Fame in 2007.
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****** A hall of famer for sure.~JJL
Three-quarters of stockpickers lagged US market last year
Chris Flood - Financial Times
Just one in four active fund managers that invest in large US-listed companies beat Wall Street's S&P 500 share gauge in 2021, as stockpickers again struggled to match the returns delivered by cheap index trackers following the US equity market.
The blue-chip, broad-based S&P index delivered a return including dividends of 28.7 per cent last year, with strong gains for five tech giants â Meta (formerly known as Facebook), Apple, Amazon, Microsoft and Google â together accounting for almost one-third of that performance.
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