| | | | | | | March 10, 2025 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | | Miami International Holdings (MIH) has launched Bitcoin Range Binary Options (BTCRB) on MIAXdx, offering hourly, cash-settled binary options on Bitcoin. These fully collateralized contracts, priced in $10 units with $0.01 tick sizes, settle based on the dxFeed Bitcoin Reference Index, which aggregates data from Bitstamp and Gemini. CEO Thomas P. Gallagher emphasized that this innovation meets growing demand for short-term risk management tools in the crypto market. With hourly expirations, BTCRB Options provide both retail and institutional investors a way to hedge against Bitcoin's price fluctuations in real-time. ~JJL
| | | | | | Lead Stories | | | Cboe Plans Options Product for Traders Wary of Stocks Concentration Risk
Bernard Goyder - Bloomberg
Investors looking for another way to shake up and broaden out their technology-saturated portfolios are in luck.
In April, the Cboe Global Markets Inc. is set to list options on the equal-weighted version of the S&P 500 as traders look to cut their exposure to the handful of technology giants that dominate the flagship US stock index.
/jlne.ws/3QVBkbJ
Nasdaq 100 Set for Worst Day Since September 2022: Markets Wrap; Trump says economy faces 'transition,' avoids recession call; Strategists see more stock volatility as tariff fears kick in
Rita Nazareth - Bloomberg
Anxiety that tariffs and government firings will torpedo growth in the world's largest economy extended a three-week stretch of volatility across global markets. American stocks got hammered as Wall Street tempered bullish views while demand for recession havens boosted sovereign bonds.
A selloff in the S&P 500's most influential group - big tech - weighed heavily on trading. The gauge extended its plunge from a record to 8.8% while the Nasdaq 100 sank 4% on Monday. A gauge of the Magnificent Seven megacaps tumbled 6%. Treasury yields slid on bets that an economic slowdown would force the Federal Reserve to slash interest rates. Bitcoin slipped below $80,000.
/jlne.ws/41BYEAk
Investors flee equities as Trump-driven uncertainty sparks economic worry
Lewis Krauskopf - Reuters
Fears that uncertainty over trade tariffs will spark an economic downturn are causing investors to flee equities, in a major shift for Wall Street which had been fired-up by the prospect of President Donald Trump's agenda.
Stocks continued their steep decline on Monday, with the benchmark S&P 500 (.SPX), opens new tab down 2% in mid-day trade and the Nasdaq Composite (.IXIC), opens new tab sliding more than 3%. The S&P 500 was down about 8% from its February 19 all-time high, nearing a 10% decline that would show a correction for the index. The tech-heavy Nasdaq ended down more than 10% from its December high last week.
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Short-Term Bond ETFs Rake In Billions Amid Recession Alarm Bells
Vildana Hajric - Bloomberg
Investors looking for a safe place to hide are shoveling money into ultra-short bond exchange-traded funds as Donald Trump's economic policies stoke recessionary concerns and a stock-market rout.
The cohort has taken in more than $16 billion so far this year, led by products such as the iShares 0-3 Month Treasury Bond ETF (ticker SGOV), which has seen more than $7 billion come in. The fund took in $1.4 billion last week alone, its largest inflow on record, data compiled by Bloomberg show. And investors have added $3.2 billion to the SPDR Bloomberg 1-3 Month T-Bill ETF (BIL), about half of which came in last week in what is its biggest inflow since November 2023.
/jlne.ws/41TzLkU
Nasdaq 100 Heads for Worst Day Since 2022 as $1 Trillion Zapped
Jess Menton and Jeran Wittenstein - Bloomberg
Technology shares led the biggest selloff in American stocks this year, as investors ditched longtime market leaders on rising worries the economy is headed for a recession.
The S&P 500 sank 2.6%, with tech companies in the index sinking as much as 4.7% at some point. The Nasdaq 100 Index plunged 3.8%, the most since 2022. It's now down 12% from a Feb. 19 record. Monday's selling wiped out more than $1 trillion in the gauge's value.
/jlne.ws/4iEHhFS
Volatility Shares Files for 3 XRP ETFs
Francisco Rodrigues - CoinDesk
Volatility Shares, an asset manager known for launching innovative exchange-traded funds (ETFs), has filed for three new products centered on XRP. These include a spot XRP ETF, a 2x leveraged XRP ETF and an inverse -1x XRP ETF. The spot XRP ETF is designed to track the price of the cryptocurrency directly, while the 2x XRP ETF aims to amplify daily price movements by a factor of two. The -1x XRP ETF offers investors a way to bet against XRP's price, reflecting the reverse of its daily performance.
/jlne.ws/43xGWAw
| | | | | | Exchanges | | | Cboe Global Markets Plans to Launch S&P 500 Equal Weight Index Options on April 14, 2025
Cboe Global Markets
Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network today announced plans to launch options on the S&P 500 Equal Weight Index (EWI) on April 14, 2025, pending regulatory review. The new initiative was announced today at the 50th International Futures Industry Conference in Boca Raton, Florida. S&P 500 EWI options will be cash-settled and based on 1/10th the value of the S&P 500 EWI, the equal-weight version of the S&P 500 Index. The S&P 500 EWI includes the same constituents as the capitalization-weighted S&P 500 Index, but each constituent of the S&P 500 EWI is allocated a fixed weight of 0.2% of the index total at each quarterly rebalance.
/jlne.ws/4iaPzWe
Miami International Holdings Reports Trading Results for February 2025; Sets Multiple Options Volume and Market Share Records with MIAX Futures Volumes at Record Level
MIAX
Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today reported February 2025 trading results for its U.S. exchange subsidiaries-MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire (collectively, the MIAX Exchange Group), and MIAX Futures.
/jlne.ws/4iEvpDM
Nasdaq Expands The Offering Of Standardized Finnish Equity Derivatives On Nasdaq Derivatives Markets
Nasdaq via Mondovisione
Nasdaq (Nasdaq: NDAQ) today announced that it has completed the expansion of the offering of standardized Finnish equity derivatives* on Nasdaq Derivatives Markets. Nasdaq's widened offering includes a variety of standardized equity derivatives (options, forwards and futures), on Finnish large cap stocks and selected mid-cap stocks, and futures on the OMXH25 index. Previously, the full offering included eight stock classes. Following the expansion, it now encompasses 29 stock classes, all denominated in Euros.
/jlne.ws/3Fcq9ZG
Nasdaq to launch 24-hour trading for US equities; The exchange aligns with Cboe Global Markets and the New York Stock Exchange, who have also announced plans to extend trading hours for US equities on their respective platforms.
Wesley Bray - The Trade
Nasdaq has begun engaging with regulators to enable 24-hour trading, five days a week on the Nasdaq Stock Market. The exchange's timeline is pending regulatory approval and alignment with industry infrastructure providers, with plans to launch in the second half of 2026. The development has been linked to increased retail participation, a reduction in barriers to accessing markets through wealth accumulation, and increased appetite to engage with US markets from global investors.
/jlne.ws/3FdYVlo
| | | | | | Technology | | | CQG to Provide Order Routing Infrastructure for Robinhood Futures Trades
Editorial Staff - Traders Magazine
CQG, a global provider of high-performance technology solutions for market makers, traders, brokers, commercial hedgers and exchanges, and Robinhood Derivatives have partnered to use CQG's professional-grade infrastructure to handle order routing for Robinhood Derivatives' futures customer orders. As of January 31, 2025, Robinhood has 25.5 million funded customers and assets under custody of $204 billion.
/jlne.ws/4hmI6SE
| | | | | | Moves | | | ON THE MOVE: Cboe Promotes Tim Lipscomb; Nasdaq Names Brandis DeSimone
Anna Lyudvig - Traders Magazine
Cboe has promoted Tim Lipscomb to Executive Vice President, Chief Technology Officer, and appointment to the company's executive leadership team. In this role, Lipscomb will continue to oversee the expansion of Cboe's technology platform globally, further reinforcing the importance of technology and innovation to the company's organic growth strategy.
/jlne.ws/4hp31EG
| | | | | | Strategy | | | US vs. Europe Diverge as Recession Odds Increase
Mandy Xu - Cboe
Credit led the increase in cross-asset volatility last week as concerns around US growth intensified with the escalation in Trump's trade war. VIXIG index jumped from the 64th to the 91st percentile high (1-year lookback). However, on a longer lookback, credit volatility actually screens as the cheapest across asset classes. While equity, rates, and FX implied vols are all trading 0.5 to 1 standard deviation above their 10-year average, credit volatility still remains below its 10Y average (see chart below).
Optimism around Germany's historic fiscal plan, coupled with pessimism around the US outlook, have led to a near record underperformance of US stocks relative to their global peers, with SPX trailing SX5E by almost 20ppts over the past 3 months - the most in 10 years.
/jlne.ws/3QWkPfB
| | | | | | Events | | | Volatility Analysis and Its Impact on Forecasting & Probabilities
April 15, 2025
8:00 am EDT|
5:00 am PDT|
8:00 pm HKT|
1:00 pm BST
Duration: 60 Minutes
Analyze volatility across FX by looking into at the money, out of the money and risk reversal measures. Translate implied volatility levels into probabilities, so you can forecast the chances that an FX scenario will be realized on an exact date or during a selected date range.
/jlne.ws/3DyybeZ
| | | | | | Miscellaneous | | | Why Warren Buffet Avoids Cryptocurrencies Despite Their Hype
Vance Cariaga - Yahoo Finance
Investing in cryptocurrency is not for the faint of heart because it's subject to so much volatility. Even the leading crypto, Bitcoin, has been through more than its share of choppy waters. That volatility - coupled with the fact that crypto investor sentiment is often driven more by hype than business fundamentals - helps explain why legendary investor Warren Buffett tends to avoid the asset.
/jlne.ws/3FiKs80
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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
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