May 09, 2025  
 
Jeff Bergstrom
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Lead Stories
Technology Drives Options Market Development
Editorial Staff - Traders Magazine
The rapid expansion of options markets in recent years has been driven by a number of factors, not least of which is technology. Technology helps institutional firms access options liquidity, helps brokers handle and route trades more efficiently, and helps online platforms attract and retain retail market participants. But for all firms in the options market ecosystem, it's not just about adopting technology, it's also necessary to create the right processes around the technology.
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Wall Street Fear Gauge Retreats Ahead of Trade Summit
George Glover - Barron's
The most widely-followed gauge of Wall Street fear and uncertainty was lower on Friday, with investors hopeful that a meeting between U.S. and China officials in Geneva will help ease global trade tensions.
The Cboe Volatility Index, which tracks S&P 500 options contracts and trades under the ticker VIX, slipped 1.3% to just over 22 in early trading. Any reading of below 20 would typically be seen as a signal of relatively low volatility.
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India VIX spikes 8% as India-Pakistan tensions rise, market breadth in favour of bears
TradingView
Fear and nervousness in the domestic equity markets soared in trade on Friday, May 9, after cross-border tensions between India and Pakistan soared.
At 9.40 am, the India VIX index, which measures expected volatility in markets based on options trading, jumped to 22.6, higher by 7.52 percent, indicating rising caution in investors' sentiment.
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Wall Street Brings the Bitcoin-Versus-Gold Clash to ETF Masses
Isabelle Lee - Bloomberg
The culture clash between Bitcoin enthusiasts and gold bugs is about to be played out in the world of exchange-traded funds. Tidal Financial Group this week filed to launch a pair of long-short trades - pitting the world's biggest cryptocurrency against the shiny metal, and vice versa - offering investors a high-conviction bet on the best alternative hedge, in one fell swoop.
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Asian investors fear more volatility after 'extraordinary' currencies moves; Traders uncertain about what local companies will do with trillions of dollars of US assets
Arjun Neil Alim and Cheng Leng and William Sandlund and Joseph Cotterill - Financial Times
Asian investors have been rushing to shield themselves from big swings in the US dollar, putting upward pressure on their local currencies and forcing Hong Kong authorities to intervene in the market. Taiwan's dollar has surged almost 6 per cent against the greenback this month, posting the biggest single-day moves since the 1980s, while Hong Kong's monetary authority spent the largest weekly amount since 2020 to stop the city state's currency strengthening beyond a US dollar peg.
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Exchanges
IEX Moves Toward Q1 2026 Launch for Options Exchange
MarketsMedia
Can a 19th US options exchange truly add value to the marketplace?
"We asked ourselves the same thing" when mapping out a plan for a new exchange, said John Palmer, Head of Options at IEX Group, in a recent interview with Trader TV.
But with growing complexity in the options market, particularly around stale quotes, increased strikes, and fast-moving prices, IEX Options believes it can deliver solutions that better serve market makers and improve trade execution.
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ICE Launches EU Carbon Allowance 2 Futures; Expanding the Most Liquid Environmental Derivatives Markets in the World
Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, announced the launch this week of EU Carbon Allowance (EUA) 2 futures, with the contract now available to trade alongside ICE's benchmark EUA futures and options, the most liquid carbon derivatives market in the world. The EUA 2 futures contract launched on May 6, 2025, with the first trades taking place on the same day, totaling the equivalent of 5,000 EUA 2 allowances.
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CME Group Inc. Announces Preliminary Results from its 2025 Annual Meeting of Shareholders
CME Group
CHICAGO, May 9, 2025 /PRNewswire/ -- CME Group Inc. (NASDAQ: CME) today announced the preliminary shareholder voting results from its 2025 annual meeting.
At the meeting, shareholders:
Elected Terrence A. Duffy, Kathryn Benesh, Timothy S. Bitsberger, Charles P. Carey, Bryan T. Durkin, Harold Ford Jr., Martin J. Gepsman, Daniel G. Kaye, Phyllis M. Lockett, Deborah J. Lucas, Rahael Seifu, William R. Shepard, Howard J. Siegel and Dennis A. Suskind, each for a one-year term expiring in 2026.
Ratified the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for 2025.
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UBS in Talks to Sell Its Hedge Fund Unit O'Connor to Cantor
Irene Garcia Perez and Todd Gillespie - Bloomberg
UBS Group AG is in talks to sell its hedge fund unit O'Connor to Cantor Fitzgerald LP, a move that would end a more than three-decade run of ownership by the Swiss bank, according to people familiar with the matter. The deal could involve a possible revenue sharing agreement, one of the people said. In that case, Cantor would acquire the unit from UBS's asset management division, and the Swiss bank would receive some of the proceeds, the person said.
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Regulation & Enforcement
SEC's Peirce Says Bitcoin ETF Approval Process Was 'Terribly Mismanaged'
Stacy-Marie Ishmael - Bloomberg
Regulator Hester Peirce, known to many in the digital-asset industry as "Crypto Mom," has a message for her fans: be more patient. Speaking on Bloomberg's Trillions podcast, Peirce urged those waiting for another round of approvals on crypto-related exchange-traded products - or for broader regulatory clarity - to realize that, as she put it, "there's a lot going on."
/jlne.ws/43m0kzV

Strategy
Why one market vet sees more big pain coming for the dollar - and a recession by year-end
Jennifer Sor - Business Insider
Investors may be a bit calmer as optimism grows around trade deals, but markets should brace for further pain, according to one longtime strategist.
David Roche, a former Morgan Stanley banker and the head of Quantum Strategy, thinks the value of the US dollar could plummet around 15%-20% over the next five to 10 years - and that a more immediate recession could hit the US economy by the end of 2025.
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Miscellaneous
Strengthening the Buy Side-Sell Side Relationship in a New Era of Innovation and Risk
Anna Lyudvig - Traders Magazine
At a time when market volatility is reshaping client expectations and technology is driving transformative change across the industry, leaders from across the financial sector gathered at the SIFMA Operations Conference & Exhibition 2025 to reflect on the evolving relationship between the buy-side and sell-side.
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