| June 21, 2023 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | Crypto Exchange BIT Unveils Options Market for Cardano's ADA Token; BIT's unified margin system allows ADA holders to trade options at a discount.
Omkar Godbole - Coindesk
Cryptocurrency derivatives exchange BIT on Wednesday rolled out options tied to Cardano's ADA token while promising to add more alternative cryptocurrencies (altcoins) in coming months. The ADA options are live in the platform today and are denominated and settled in U.S. dollars, BIT said in a press release shared with CoinDesk. One ADA options contract represents 1 ADA, the exchange's spokesperson said.
/jlne.ws/3JqKTwh
Exegy Metro Trading Platform Adds Deribit
Editorial Staff - Traders Magazine
Exegy, a provider of front-office trading solutions for the capital markets, has added Deribit, the world's largest cryptocurrency options exchange, to its covered crypto derivatives markets for the Metro professional trading platform. The addition will allow crypto traders using Deribit to benefit from Metro's pricing, execution, and risk management capabilities, gaining a competitive advantage.
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Prospect of More Rate Hikes Weighs on Stock Futures; Fed Chair Powell said there's "a long way to go" to get inflation under 2%
Fernanda Horner - Schaeffer's Investment Research
Stocks futures are looking to extend yesterday's rout, after Federal Reserve Chairman Jerome Powell foreshadowed more interest rate hikes during his testimony before the House Financial Services Committee. Powell said there is still "a long way to go" to get inflation under 2%, and noted the labor market remains tight. U.S. Treasury yields were on the rise before those remarks, while Dow Jones Industrial Average (DJIA), Nasdaq-100 Index (NDX), and S&P 500 Index (SPX) futures were all firmly lower at last check.
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Stocks Are Down. So Is the Volatility Index. What's Up?
Emily Dattilo - Barron's
Stocks are falling, and the CBOE Volatility Index, or VIX, is slipping, too. That's unusual. The stock indexes and the volatility index generally move in opposite directions. On Wednesday morning, the VIX was off 2%, to 13.60, while the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite were downâ0.3%, 0.5%, and 2.2%, respectively.
/jlne.ws/3XhsaJa
European gas price volatility jumps
Argus Media
Gas prices resumed an upward trend in recent weeks, after declining for months A combination of supply squeezes has spurred European gas price volatility to its highest in nearly eight months, just as firms were starting to anticipate a late-summer supply surplus. The Argus TTF front-month volatility index â an annualised historic measure of price variation over time â has climbed to its highest since September last year, when Gazprom announced the indefinite closure of the Nord Stream pipeline. And higher volatility has filtered through to longer-dated contracts.
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| | | | | | Exchanges | | | SGX Securities welcomes the listing of CSOP iEdge Southeast Asia+ TECH Index ETF
SGX
SGX Securities today welcomed the listing of CSOP iEdge Southeast Asia+ TECH Index ETF. Managed by CSOP Asset Management Pte. Ltd., the ETF offers investors access to the fast-growing digital and technology sectors in Southeast Asia and India. Developed by SGX Index Edge as part of its suite of thematic index solutions, the iEdge Southeast Asia+ TECH Index aims to track the performance of the largest 30 technology companies based in India, Indonesia, Malaysia, Singapore, Thailand and Vietnam. Constituents in this index include companies in technology-related sectors such as Information Technology, Software and Consulting, Car Manufacturing, Electronic Components and Manufacturing, and Retail and Media Services.
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| | | | | | Regulation & Enforcement | | | Federal Agencies Form New U.S. Crypto Crime Task Force; The Darknet Marketplace and Digital Currency Crimes Task Force formalizes a prior collaboration between five law enforcement agencies.
Tim Hakki - DeCrypt
A new U.S. task force comprising five federal enforcement agencies that regularly collaborate to investigate crypto and darknet crimes has been established, according to an announcement by the Department of Homeland Security. Dubbed the "Darknet Marketplace and Digital Currency Crimes Task Force," the new interagency group will investigate how criminal gangs within Arizona use crypto and the dark web for crimes including drug trafficking, money laundering, personal data theft and child exploitation.
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| | | | | | Strategy | | | Goldman Strategists See Many Reasons for Hedging S&P 500 Rally; Bank sees 23% downside to stocks in a recession scenario; Still sees base case of S&P 500 rising to 4,500 by year-end
Abhishek Vishnoi - Bloomberg
Investors should consider hedging the rally in the S&P 500 for recession-related risks, say Goldman Sachs Group Inc. strategists, citing several equity indicators. Bullish option positions look crowded, the rally has been narrow, valuations remain high, overly optimistic growth expectations are being priced in and overall investor posture isn't light anymore, strategists including Cormac Conners and David J Kostin wrote in a note dated June 20.
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| | | | | | Education | | | 0DTE Options Primer: What Investors Should Know About Expiration-Day Positions
OIC
The options market is a dynamic ecosystem and has evolved over the decades to provide a variety of products that may be used in numerous strategies, from the simple to the complex. Recently, a concept that has generated many conversations is the zero-days to expiration, or 0DTE, option. 0DTE options are not a new product, nor are they a new strategy. Despite what the moniker may suggest, 0DTE options are rarely listed on the morning of expiration. Rather, they are likely options that have been listed for days, weeks or even months, and like all options once they reach their expiration date, they have zero days left till expiration.
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| | | | | | Miscellaneous | | | Best Options Trading Technology Provider: Matrix Executions
Anna Lyudvig - Traders Magazine
Traders Magazine spoke with Allen Greenberg, COO of Matrix Executions, which won Best Options Trading Technology Provider at the 2023 Markets Choice Awards.
Please tell us about your trading solutions for option traders.
Matrix solutions for options traders cut a wide swath, offering very sophisticated solutions for almost all professional options traders. First and foremost comes our electronic offering, led by our proprietary front ends - Matrix Pro for buy-side users, and Matrix Elite (more sell-side focused). Matrix has certified with most leading EMS/OMS front-ends in the industry, allowing firms to connect with us quickly and easily. Providing that cross-functionality is hugely important today. The pièce de resistance of Matrix's electronic offering is our proprietary algo rack. Matrix's algos are highly-adaptable and agile, allowing us to collaborate with clients to completely customize our offering to their needs, essentially designing a bespoke solution for each user/client.
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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
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