| December 13, 2023 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | Citadel Sees Departure of Four Portfolio Managers
Liza Tetley and Nishant Kumar - Bloomberg
There was a time when early leaders in hot areas of financial services could count on maintaining their profit dominance with ease. But now the $7.8 trillion market in US exchange-traded funds (ETFs) is hurtling toward a new order, as BlackRock Inc.'s lead over runner-up Vanguard Group Inc. shrinks to a razor-thin margin.
/jlne.ws/3RGuoRe
Vanguard Is Closer Than Ever to Ending BlackRock's ETF Reign
Katie Greifeld - Bloomberg
Citadel Sees Departure of Four Portfolio Managers
Liza Tetley and Nishant Kumar - Bloomberg
Four Citadel portfolio managers, including Surveyor Capital's Mike Scheer, have left Ken Griffin's hedge fund firm ahead of the new year, according to people familiar with the matter. Nico Dil, Tim Woodward and Sean Murphy, all based in London, also departed, the people said. Scheer managed an industrials-focused strategy at Surveyor, one of Citadel's stock-picking units, according to his LinkedIn profile.
/jlne.ws/46WLnmr
| | | | | | Exchanges | | | BMLL expands data coverage in North America to include Canada; New expansion will allow Canadian exchange operators to analyse venue performance and liquidity dynamics against local and global peers.
Wesley Bray - The Trade
Historical Level 3 data and analytics provider BMLL has expanded its data coverage to include the Canadian market. Data is now available from all major Canadian trading venues and exchanges, including the Toronto Stock Exchange, the Canadian Securities Exchange, CBOE Canada, Nasdaq Canada and Omega ATS.
/jlne.ws/3tf0LwM
| | | | | | Regulation & Enforcement | | | Legal Hurdles Stack Up for Gensler's SEC; Group of hedge funds sues the SEC in hopes of overturning a pair of rules related to short selling and securities lending
Paul Kiernan - The Wall Street Journal
Gary Gensler is facing a growing number of legal challenges as the Securities and Exchange Commission chair moves forward with wide-reaching efforts to squeeze Wall Street for the benefit of investors and companies. A group of hedge funds sued the SEC on Tuesday in hopes of overturning a pair of recent rules requiring more disclosures around short selling and securities lending. The case was filed in the same conservative appeals court that looks set to kill another SEC rule aimed at getting investors more information about public companies' share repurchases.
/jlne.ws/47UmCc4
US Treasury market braces for overhaul as SEC adopts new clearing rules
Douglas Gillison, Laura Matthews and Carolina Mandl - Reuters
Wall Street's top regulator on Wednesday adopted new rules aimed at reducing systemic risk in the $26 trillion U.S. Treasury market by forcing more trades through clearing houses, while offering some concessions following industry pushback.
The five-member U.S. Securities and Exchange Commission voted 4-1 on Wednesday to finalize the new rules, proposed over a year ago, marking the most significant overhaul in decades of the world's largest bond market, a global benchmark for assets.
/jlne.ws/3NmRB8r
CFTC market risk advisory committee discusses clearing firm consolidation, operational resilience, and CCP risk
Kyle Glenn - FIA
The US Commodity Futures Trading Commission held a meeting of the Market Risk Advisory Committee on 11 December to discuss several current policy issues affecting the derivatives industry.
The advisory committee, which is sponsored by CFTC Commissioner Kristin Johnson, has no rulemaking authority, but it provides a platform for market participants and policy experts to give the agency their views on current issues.
/jlne.ws/46VyXLS
| | | | | | Strategy | | | Know the Strategies When It Comes to Taxes on Options Trading
Ticker Tape Editors - TD Ameritrade
You have alternatives when it comes to tax planning. Targeted investing might trim that bill from Uncle Sam, or at least help you time when you'll pay.
Screen time should be trading time, free of the slog of tax prep. Still, most traders are aware that, come April, thinking ahead could lead to less nail biting and more coin counting. Did you know that in some cases, due to rules on taxation of stock options, the smoothest tax path runs right through options territory? (Of course, your accountant might have the best road map.)
Consider five approaches, mostly using options, that deserve a closer look.
/jlne.ws/4auXHh0
Zero-Day Options Are All the Rage, But Don't Forget the Lessons of Volmageddon
Maleeha Bengali - The Street
The best strategy in town right now is selling 0DTE ATM puts. However, when positions and bets get too one sided, there lies a massive unwind risk.
/jlne.ws/3GHZilR
VIX Plunge Presents Opportunity for Options Traders
Rocky White - Schaeffer's Investment Research
A few weeks back, I discussed the eight-day losing streak for the Cboe Volatility Index (VIX).That article included the table below, which shows how the S&P 500 Index (SPX) reacted after those losing streaks.
/jlne.ws/47XoAZ4
The Presidential Election, Fed Policy, and Other Big Trends for the Options Market in 2024
Steven M. Sears
As 2023 ends, we look toward next year and offer a few ideas about what investors might face.
/jlne.ws/3uZWxtB
Higher Volatility
Cboe (Video)
In #Vol411, @JoeTigay talks about the prospects for the Federal Reserve to start cutting interest rates and the potential for increased volatility in 2024. #VIX #SPX
/jlne.ws/3RkoALJ
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