| March 02, 2023 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | OCC Clears Record-Setting 10.38 Billion Total Contracts in 2022
OCC
OCC, the world's largest equity derivatives clearing organization, announced today that 2022 set a new annual cleared contract volume record with 10.38 billion contracts cleared and an average daily volume of 41.3 million contracts. Compared to 2021, OCC had a 4.5 percent increase in total contracts cleared
/jlne.ws/3GFjs0o
Euro-Zone Inflation Barely Slows as Core Gauge Hits Record
Alexander Weber - Bloomberg
Euro-area inflation slowed by less than anticipated while underlying price pressures surged to a new record, reinforcing expectations that the European Central Bank will have to push borrowing costs ever higher.
Driven by food and services costs, February's headline figure of 8.5% exceeded the 8.3% median estimate in a Bloomberg survey of economists and compares with an advance of 8.6% in January.
/jlne.ws/3YgeaOz
Sustainability and the Role of Derivatives - a view from the Nordics
Eurex
At our Stockholm ESG Expert Roundtable, ahead of the Derivatives Forum Frankfurt, Eurex caught up with Anette Andersson, Senior Sustainability Investment Specialist at SEB Wealth Management on the use of derivatives in the context of sustainable finance and her views on the ESG methodologies.
/jlne.ws/3Yd3kZB
Crypto bank Silvergate plunges after warning on ability to survive; Shares of California-based lender almost halve after revealing capital position has deteriorated
Joshua Franklin - Financial Times
Shares of crypto-focused bank Silvergate shed almost half their value in pre-market trading on Thursday after the lender said it was evaluating its ability to survive as a going concern. California-based Silvergate, one of just a few US banks to focus heavily on crypto, has been hit hard by the recent collapse of digital token prices and the implosion of Sam Bankman-Fried's FTX empire, which was a banking client.
/jlne.ws/3Zh5CbM
| | | | | | Exchanges | | | Cboe FX volume rises slightly in February 2023
Abdelaziz Fathi - Finance Feeds
During February 2023, the exchange's institutional FX trading venue saw its average daily trading volume amounting to $41.9 billion in February 2023, up three percent month-over-month from $40.8 billion in January 2023.
On a year-over-year basis, the ADV numbers released by Cboe FX, formerly Hotspot, illustrated flat performance when weighed against $42 billion a year earlier.?
/jlne.ws/3ZxumMC
CME Group Reports February 2023 Monthly Market Statistics
CME Group
Interest Rate ADV grows 8% to second-highest monthly ADV ever; Record SOFR futures and options volume, OI; Record Micro Copper futures volume. CME Group, the world's leading derivatives marketplace, today reported its February 2023 market statistics, reaching an average daily volume (ADV) of 28.2 million contracts during the month. Market statistics are available in greater detail at https://cmegroupinc.gcs-web.com/monthly-volume.
/jlne.ws/3J5H67x
CME Group Announces Record Aluminum Futures Volume, Open Interest
CME Group
CME Group, the world's leading derivatives marketplace, today announced that participation in Aluminum futures is off to a strong start in 2023, reporting record average daily volume (ADV) in February of 3,161 contracts, up 300% year-over-year, as well as record average daily open interest of 2,549 contracts, up 711% year-over-year and extending through December 2024.
/jlne.ws/3KLLslL
London Stock Exchange welcomes thaw in EU relations, sees no 'cliff' for clearing
Huw Jones - Reuters
London Stock Exchange Group (LSEG.L) said on Thursday it welcomed a thaw in relations between Britain and the European Union, and does not expect the company's clearing arm to be cut off from customers in the bloc from June 2025.
Existing permission from Brussels for London-based clearing institutions to continue serving customers in the bloc is due to end in June 2025.
/jlne.ws/3IIzKWb
HKEX Announces Plans To Open London Office
HKEX
Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to confirm today (Thursday) that it will open an office in London in the first half of 2023. The new UK office will further expand the Group's international reach, promoting greater global connectivity and facilitating opportunities for HKEX's customers and issuers around the world. The new office will promote the attractiveness of HKEX's international equities franchise, its exclusive connectivity with Mainland China's capital markets and its rapidly expanding derivatives product suite. It will also provide the Group's European clients with on-the-ground expertise and insight on Hong Kong's capital market opportunities and innovations.
/jlne.ws/3ZwpUxE
Moscow Exchange summed up trading results in February 2023
MOEX
The total trading volume on the markets of the Moscow Exchange in February 2023 increased by 1.6% and amounted to 83.6 trillion rubles (82.3 trillion rubles in January 2023). Here and below, the dynamics is shown in comparison with the previous month.The positive dynamics of the volume of transactions was demonstrated by almost all markets of the exchange: the bond market (growth by 76.0%), the stock market (growth by 34.4%), the futures market (growth by 24.2%), the foreign exchange market (growth by 14.0%, 6%) and the precious metals market (growth by 6.4%).
/jlne.ws/3Yfhyco
Trading Overview in February 2023
JPX
Japan Exchange Group released Trading Overview in February 2023. Cash Equity Market - In February 2023, the daily average trading value for the Prime Market (domestic common stocks) was JPY 3.1564 trillion. The daily average trading value for the ETF market was JPY 164.4 billion.
/jlne.ws/3IBmfYg
Straits Times Index (STI) quarterly review - March 2023
SGX Group
FTSE Russell announces that there will be no changes to the constituents of the Straits Times Index (STI), following the March 2023 quarterly review.
/jlne.ws/3YcCWzi
| | | | | | Regulation & Enforcement | | | DeFi to Go Under Microscope at US CFTC Advisory Group's Opening Session
Jesse Hamilton - CoinDesk
Decentralized finance (DeFi) will be the first topic discussed at the opening meeting of the Commodity Futures Trading Commission's Technology Advisory Committee on March 22, further cementing the cryptocurrency sector as a priority for the U.S. derivatives regulator. "A discussion about DeFi, including cyber vulnerabilities, indicators of 'decentralization,' digital identity and unhosted wallets, will contribute to ongoing policy discussions in Washington, D.C., and beyond the Beltway," said Commissioner Christy Goldsmith Romero, the CFTC sponsor for the new incarnation of this advisory group, in a statement.
/jlne.ws/3YtcHEZ
SEC's Gary Gensler Warns Money Managers on AI, Crypto Custody
Lydia Beyoud - Bloomberg
Gary Gensler is stepping up warnings to asset managers about their use of predictive data analytics and how they work with digital-asset firms.
The head of the US Securities and Exchange Commission said on Thursday that predictive data technologies may create "inherent conflicts" of interest related to the duty that investment advisers have to their clients. Gensler said that he'd asked the agency's staff to recommend how to address the issues.
/jlne.ws/3INfzGE
| | | | | | Strategy | | | How Options Can Be a Safe Substitute for Dividends
Steven M. Sears - Barron's
If you don't know the horse, bet the jockey. This old quip, heard years ago from a senior trader at a big bank, is worth contemplating like a Zen koan. The message: Rather than trying to guess what may happen in the market, focus on known knowns like the enduring qualities of well-run companies.
Investors can do this by taking advantage of short-term volatility, which influences near-term options premiums, to harness blue-chip stocks with bright long-term prospects.
/jlne.ws/3y7lMbE
Does a Valuation-Based Portfolio Beat a 'Lazy' One?
Derek Horstmeyer - WSJ
Since the 1970s, academics and investing professionals alike have debated whether markets are efficientâthat is, whether stock prices reflect all available information and are therefore fairly priced.
One question that has grown out of this debate is: Can investors use a market-valuation strategy to "time the market" and juice their portfolio's returns over the long run?
/jlne.ws/3y85uz8
March Volatility
Cboe (Video)
Scott Bauer @cboesib on active $VIX strikes, $TSLA options, a big $PBR trade and March's history as a volatile month - all in today's #Vol411.
/jlne.ws/3J50phk
| | | | | | Miscellaneous | | | More than 110 stock exchanges in events around the world will demonstrate their support for women's rights and gender equality around International Women's Day, March 8. The UN Women's theme for International Women's Day 2023 is "DigitAll: Innovation and Technology for Gender Equality." The theme recognizes the contribution of women and girls around the world, who are leading the charge on climate change adaptation to build a more sustainable future for all. View the list of participating exchanges or register your exchange event here. ~SAED
London Dealmakers Say Move to New York Listing Is Just Starting
Dinesh Nair, Sabah Meddings and Sagarika Jaisinghani - Bloomberg
London's public companies are looking to New York as a preferable market for listing their shares, with City dealmakers handling frequent inquiries from clients asking how they could shift across the Atlantic.
Just this week, it was revealed that two major companies had picked the US for their main listings ahead of London â CRH Plc, one of Europe's biggest building materials companies, and Softbank-owned Arm Ltd., a jewel of Britain's technology industry. It was the latest blow to the UK's Conservative government which says it's determined for London to prosper post-Brexit.
/jlne.ws/3ERo7uX
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| | | Jeff Bergstrom
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