| July 24, 2024 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | | Sad news this morning; the legendary CBOT trader, member and brokerage executive Henry Shatkin passed away yesterday. A source indicated Shatkin was active right up until the end, swimming the day before. Shatkin owned several different futures commission merchants that catered to floor traders and helped launch the career of many traders. Condolences to his family and friends on his passing.
Shatkin did so many things to help so many people over his long career in the Chicago futures and options community. He was even involved in some fintech companies that emerged from the industry. He was a longtime partner with Pat Arbor. Shatkin and four other geriatric contemporaries were reportedly the parties responsible for putting up the funds to spring Arbor from Cook County Jail and settle Arbor's dispute with his ex-wife. ~JJL
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Using Options for Risk Management and Protective Puts; Michael J. Oyster Breaks This Down and More in His Full Interview With JLN's Alex Teng
JohnLothianNews.com
In this Options Discovery full interview, JLN's Alex Teng sits down with Michael J. Oyster from Options Solutions and discusses how options can be used for risk management and navigating a declining stock market. Oyster also discusses his background and how to implement a put protection strategy, which can give investors downside protection by limiting their upside gains.
Watch the video »
| | | | | | Lead Stories | | | VIX volatility gauge hits highest since April as tech-led stock selloff sinks Nasdaq, S&P 500
William Watts - MarketWatch
The Cboe Volatility Index, a measure of expected S&P 500 volatility over the coming 30 days, pushed above 17 for the first time since April on Wednesday as equities felt the heat in a tech-led selloff that saw the Nasdaq Composite drop more than 3% at its session low.
/jlne.ws/4cP2E4S
US spot ether ETFs make market debut in another win for crypto industry
Hannah Lang and Suzanne McGee - Reuters
U.S. exchange-traded funds (ETFs) tied to the price of ether enjoyed a strong debut on Tuesday, with $1.07 billion of shares changing hands in the products, according to CF Benchmarks, a digital asset index provider, Bitwise Asset Management and traders.
The most actively traded ETFs were Grayscale's Ethereum Trust , with more than $450 million in turnover, the iShares Ethereum Trust (ETHA.O), opens new tab, with about $245 million in trading, and Fidelity Advantage Ether ETF (FETH.Z), opens new tab, with $137 million, Bitwise said.
/jlne.ws/3LHKZ2Y
China's quant funds suffer deep losses amid crackdown
Summer Zhen - Reuters
Chinese computer-driven "quant" hedge funds suffered heavy losses in the first half of the year, underperforming traditional stocks strategies at home and other popular global fund strategies, data shows. That dismal performance is leading to a reshuffle in the $200 billion industry, prompting some to even exit their businesses, market participants say.
/jlne.ws/3yaLVKc
| | | | | | Exchanges | | | CME Group Inc. Reports All-Time Record Revenue of $1.5 Billion for Q2 2024
CME Group
CME Group Inc. (NASDAQ: CME) today reported financial results for the second quarter of 2024.
The company reported revenue of $1.5 billion and operating income of $1.0 billion for the second quarter of 2024. Net income was $883 million and diluted earnings per common share were $2.42. On an adjusted basis, net income was $932 million and diluted earnings per common share were $2.56. Financial results presented on an adjusted basis for the second quarter of 2024 and 2023 exclude certain items, which are detailed in the reconciliation of non-GAAP results.1
/jlne.ws/4db7ppd
SGX Group to report FY2024 Results on 8 August 2024
SGX
Singapore Exchange (SGX Group) has rescheduled the release of its full-year results for Financial Year 2024 (FY2024). The new date is set for 8 August 2024 before market opens.
/jlne.ws/3LxqVk5
| | | | | | Regulation & Enforcement | | | CFTC Whistleblower Program at Risk Without Lawmakers' Help; Whistleblower fund capped lower than other agencies; Deadline looming to amend temporary funding measure
Matthew Bultman - Bloomberg Law
A stopgap measure that kept a key US financial regulator's whistleblower office afloat during a funding crisis is set to expire unless lawmakers revive it, putting the cash-for-tips program in jeopardy. The Commodity Futures Trading Commission, under a program established by Congress after the 2008 financial crisis, offers awards to whistleblowers whose tips lead to successful enforcement actions. The awards come from a revolving fund capped at $100 million that also pays for the CFTC's whistleblower office and its staff. Lawmakers are weighing how to keep the office open if the fund is depleted. Also up for debate is raising the fund's cap to $300 million, putting it in line with the Securities and Exchange Commission.
/jlne.ws/3zUkeWN
SEC Lets Deadline Pass for Full Appellate Court Review of Hedge Fund Case
Andrew Ackerman - The Wall Street Journal
The Securities and Exchange Commission declined to seek a full appellate court review of a June decision striking down a set of rules that would have toughened the agency's oversight of private-equity and hedge-fund firms. The SEC missed a Monday evening deadline to ask the Fifth Circuit Court of Appeals to review the earlier decision by a three-judge panel, which found the rules in question exceeded the agency's authority. The June decision was a blow to SEC Chairman Gary Gensler's campaign to expand his agency's powers over so-called private fund managers.
/jlne.ws/3WkykYY
| | | | | | Technology | | | CME: CFTC OKs clearing move to Google Cloud
Rebecca Natale - Waters Technology
The CFTC has given the Chicago-based exchange approval to run its clearing and settlement infrastructure on the Google Cloud Platform, while the exchange and vendor have extended their partnership to last until at least 2037.
/jlne.ws/3zWCgYf
| | | | | | Strategy | | | It's Trump vs. Harris. These Stocks Are a Smart Way to Profit; Investors can prepare for a wave of stock market volatility heading into the November election by using a risk-reversal strategy with Nasdaq stock.
Steven M. Sears - Barron's
About a week after Donald Trump turned his head, saving himself from an assassin's bullet, President Joe Biden surprisingly terminated his re-election campaign. Vice President Kamala Harris is the presumptive Democratic nominee, but Trump remains the front-runner.
With the battle for the White House in November now clear, prepare for a wave of stock market volatility as investors try to maneuver among various outcomes.
/jlne.ws/4c02JkS
Jobs
Cboe (Video)
Get updates from Joe Tigay @JoeTigay on the jobs market, tech earnings (including $GOOG and $TSLA) and more in #Vol411.
/jlne.ws/4fhrWdy
| | | | | | Miscellaneous | | | Your Cup of Coffee Is Already Expensive. It's About to Get Even Worse; Coffee shops around the world, pinching pennies to prevent another round of hikes, are running out of options as bean costs spike.
Ilena Peng - Bloomberg
Global coffee drinkers who'd hoped the price of their daily fix would soon stop rising are due for a bitter wake-up call: it's about to get even worse.
Both the high-end arabica beans favored by coffee chains like Starbucks Corp. and the more budget-friendly robusta variety have spiked in price, thanks to major supply disruptions from Vietnam to Brazil. Up and down the supply chain, sellers have been raising prices and scrapping discounts to protect their margins, and many warn of more increases ahead.
/jlne.ws/4cWs3JS
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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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