| October 11, 2023 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | Cboe Shakes Up Top Leadership as Arianne Adams Leaves the Firm; Exchange promotes Inzirillo to head of data, access solutions; Move comes less than a month after exchange picked new CEO
Katherine Doherty - Bloomberg
Less than a month after Cboe Global Markets Inc. named a new chief executive officer, Arianne Adams left the company and Catherine Clay was named to take on her responsibilities as global head of derivatives. In her new role, Clay will oversee a business that includes futures and options markets in the US and Europe, as well as a suite of globally traded proprietary products, the company said in a statement Wednesday. Cboe promoted Adam Inzirillo to Clay's old role as global head of data and access solutions. A company representative confirmed Adams's departure.
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Cboe Global Markets Announces New Leadership Appointments to Support Continued Global Growth; Catherine Clay appointed Global Head of Derivatives, a new global leadership role for the organization; Adam Inzirillo promoted to Global Head of Data and Access Solutions
Cboe Global Markets, Inc.
Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced changes and new appointments to its senior leadership to further support the company's global growth strategy. These changes include the appointment of Catherine Clay to Global Head of Derivatives, a new role for the organization, and the promotion of Adam Inzirillo to Global Head of Data and Access Solutions. "Continuing the growth and expansion of our global Derivatives business presents a tremendous opportunity for Cboe and is an area where we intend to continue sharpening our focus," said Fred Tomczyk, Chief Executive Officer of Cboe Global Markets. "Today's leadership appointments enable us to further leverage and expand our global footprint to deliver world-class products and services to our clients."
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Expansion of US equity options consolidated tape go live delayed
Claudia Preece - The Trade News
Earlier this week, the Options Price Reporting Authority (OPRA) delayed the go live date for doubling the data streams of its consolidated tape for equity options, following requests from the market for more time. OPRA previously confirmed that it was expanding its data dissemination from a 48-line to a 96-line multicast data distribution network in a move aimed at optimal symbol balancing and line capacity utilisation.
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Use of weather derivatives surges as extreme climate events rock the globe
Harry Robertson - Reuters
Energy companies, hedge funds and commodity traders are stepping up their use of financial products that let them bet on the weather, as they seek to protect themselves against - or profit from - the increasingly extreme global climate. On the Chicago Mercantile Exchange, average open interest in weather futures and options was four times higher in the January to September period than a year earlier, and 12 times higher versus 2019.
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| | | | | | Exchanges | | | Cboe Global Markets appoints new head of derivatives; As part of new senior leadership hires to support growth, the firm has also named a new global head of data and access solutions.
Wesley Bray - The Trade News
Cboe Global Markets has appointed Catherine Clay as global head of derivatives as part of new senior leadership changes made by the firm to support growth strategies. Clay previously served as global head of data and access solutions and digital and will now oversee Cboe's global derivatives business. This will include futures and options markets in the US and Europe, alongside globally traded proprietary products including S&P 500 Index option and VIX franchises.
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CME Group T-Bill Futures Surpass 6,000 Contracts in First Week of Trading
CME Group
CME Group, the world's leading derivatives marketplace, today announced that its Treasury Bill (T-Bill) futures, launched on October 2, have traded more than 6,000 contracts, with open interest exceeding 1,500 contracts.
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BSE Introduces F&O In Commodity Derivatives
BusinessWorld.In
The Bombay Stock Exchange (BSE) commenced the rollout of futures and options (F&O) on futures contracts within its commodity derivatives segment on Tuesday, encompassing precious metals, base metals, and energy commodities. The exchange stated that it intends to offer a diversified collection of product offerings to investors, in order to efficiently hedge for a diverse class of market players. "BSE has introduced an array of products within its futures and options segment, bolstering its commitment to providing investors with a broader spectrum of investment tools and strategies," the statement issued by the BSE stated.
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| | | | | | Regulation & Enforcement | | | SEC disclosure changes press activists to reveal big stakes faster; Investors with 'control intent' will have to report holdings over 5 per cent within five days
Stefania Palma - Financial TImes
Hedge funds and other activist investors looking to sway US public companies will have to report large stakes they have built within five days rather than 10, in the first overhaul to disclosure timelines in decades.
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Securities traders are gathering in Washington, trying to figure out what the SEC is doing
Bob Pisani - CNBC
Securities traders are gathering in Washington. The big topic: trying to figure out what the Securities and Exchange Commission is doing. You know it's bad when one of the session topics is entitled, "A Buy Side Guide to Navigating the SEC." I'm in Washington for the annual meeting of the Security Traders Association (STA), the national association of professionals involved in the trading end of the financial services industry. These are broker-dealers and others who execute trades for customers, and all the people providing technology around them. Think of them as the folks who make things happen whenever you press a button to make any kind of trade, whether it is equities, bonds, options, mutual funds or ETFs.
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| | | | | | Strategy | | | Unusual option-market trading activity helped spark rally in U.S. stocks, strategist says
Joseph Adinolfi - Dow Jones
'Everybody rushed from one side of the boat to the other' Unusual trading activity in the options market may help explain the rally in U.S. stocks that has taken place since last Friday, analysts say. The composite put-call ratio, which compares volume in bearish options to volume in bullish options for all equity options trading on the U.S.'s 16 options exchanges, surged to its highest level in more than nine months last week. On Oct. 4, the composite put-call ratio logged a closing level of 1.332, according to Bloomberg data. That was the highest level since a 1.667 reading on Dec. 28, 2022.
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5 Ways Not to Be a 'Dumb Money' Options Investor
Steven M. Sears - Barron's
How do you price chaos? Do you buy it, sell it, or wait for something truly shocking to happen?
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