| April 30, 2024 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | | Today kicks off our coverage of the Options Conference. At the opening reception, The Most Interesting Man in the World, CQG's Pat Kenny, showed up, marking his first Options Conference participation. He will be joined at the conference by his CQG colleague Kevin Darby, who we will be interviewing later today for the OIC version of the JLN Industry Leaders video series. We now have 18 interviews scheduled over the two days of the conference.
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ICE Senior VP Trabue Bland Discusses Global Market Shifts and New Futures Strategies at FIA Conference
JohnLothianNews.com
There is a renewed focus on pricing carbon and hedging environmental risk, said Trabue Bland, senior vice president of futures exchanges at Intercontinental Exchange, during an interview with John Lothian News at the FIA International Futures Industry Conference in Boca Raton, Florida, in March. He was featured as part of the JLN Industry Leader video series sponsored by Wedbush.
Watch the video »
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SGX Simplifies Access to Asian Markets, Launches New Futures Amid Growing U.S. and European Interest
JohnLothianNews.com
The theme for SGX at this year's FIA Boca conference was 'Asia Simplified.' Pol de Win, SGX's Senior Managing Director of Global Sales & Origination, said the group is "providing access to markets that are not easily accessible in a simplified and trusted manner, and in US dollars." He was interviewed by John Lothian News at the FIA International Futures Conference in Boca Raton, FL in March for the JLN Industry Leader video series, sponsored by Wedbush.
Watch the video »
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| | | | | | Lead Stories | | | SocGen Traders in Asia Exited After Options Bets Went Undetected; Delta One traders in Hong Kong left the French lender; Risk systems had failed to register complex stock trades
Ambereen Choudhury, Donal Griffin, and Alexandre Rajbhandari - Bloomberg
A pair of traders in Hong Kong have left Societe Generale SA after the French bank discovered a batch of risky bets that went undetected by the firm's risk-management systems, according to people familiar with the matter. Kavish Kataria, a trader on the bank's Delta One desk, departed last year along with team head Ken Ng after an internal review of the transactions, said the people, asking not to be identified as the details are not public While SocGen didn't lose any money from the transactions, the trades could have cost the Paris-based lender hundreds of millions of dollars had an intense market downturn occurred, the people said. The lapse raised questions about risk management at one of Europe's biggest banks.
/jlne.ws/3JIKx3L
Clear Street Adds Futures Clearing and Execution Services
Shanny Basar - MarketsMedia
Clear Street has expanded into futures clearing and execution services, after launching clearing for registered market makers in listed U.S. equities and options this month. The US financial services firm said marked the first successful entry into the professional clearing market in close to a decade. Andy Volz, chief operating officer of Clear Street, told Markets Media that when the company began building proprietary technology about five years ago, the long-term goal was to clear every product in every market globally. Clear Street decided to first tackle US equities, and then added US options.
/jlne.ws/3wfjn18
DJT Stock Is Rising. Trump Media Takes Aim at Short Sellers Again; Trump Media is giving more advice to its stockholders on how to avoid shares being lent out.
Adam Clark and Angela Palumbo - Barron's
Trump Media & Technology Group shares were climbing Tuesday. The owner of the Truth Social platform has surged in recent days as it continues a campaign against alleged short sellers.
/jlne.ws/3UFNQPm
Goldman Sees Momentum Traders Buying Stocks in Every Scenario; Notes CTAs have $106 billion in long bets after April rout; Citi says last week's rebound was not supported by dip buying
Sagarika Jaisinghani - Bloomberg
Momentum traders are modeled to buy equities over the next week regardless of market direction, according to Goldman Sachs Group Inc.'s trading desk.
Commodity trading advisers â funds that use systematic strategies to trade futures contracts â are exposed to about $106 billion in long positions after the drawdown in April, Cullen Morgan, an equity derivatives and flows specialist at the bank, wrote in a note. That's set to support a bounce in global equities after a rough month.
/jlne.ws/3JHwlrK
| | | | | | Exchanges | | | Options Industry Conference to Cover Industry Growth, Innovation, and Regulation
Anna Lyudvig - Traders Magazine
The Options Industry Conference (OIC) in Asheville, North Carolina will be an invaluable opportunity for the industry to come together, exchange insights, and explore many of the emerging trends and developments in the options market, according to Ed Modla, Executive Director, Investor Education at the Options Clearing Corporation (OCC). The 42nd annual conference will take place on April 30 - May 2 at the Omni Grove Park Inn in Asheville.
/jlne.ws/3WkolEq
| | | | | | Regulation & Enforcement | | | TD Ameritrade Hit With $600K FINRA Fine Over Options Trading Approvals
Melanie Waddell - Think Advisor
The Financial Industry Regulatory Authority has censured and fined TD Ameritrade $600,000 for failing to exercise reasonable due diligence before approving certain customers to trade options. From November 2019 to October 2022, the firm relied primarily on an automated, electronic approval system to approve or disapprove customers for options trading, FINRA's order states.
/jlne.ws/3y257cU
| | | | | | Strategy | | | Favoring Puts
Cboe (Video)
In #Vol411, Tim Biggam @delta_desk gives market updates ahead of tomorrow's Fed meeting, talks about earnings including $AAPL at the end of this week, $NVDA at the end of May and more.
/jlne.ws/3y6UFAy
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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
Publisher | | | Sarah Rudolph
Editor-in-Chief
| | | Jeff Bergstrom
Editor
| | | Asma Awass
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