| December 19, 2023 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | | 
Intro To Options On Futures: Larry Abrams, President of Absolute Return Capital Management and former floor trader, Discusses Futures Options in this Options Discovery Full Interview.
JohnLothianNews.com
In this Options Discovery full interview, Asma Awass speaks with Larry Abrams, President of Absolute Return Capital Management. Larry addresses a variety of topics from his career, including his background as a floor trader as well as the non-profit organization he is currently involved in. Larry also gives more insight into the options on futures market, such as the benefits of these options, how they are different from stock options, volatility risk, and more. You can check out Absolute Return Capital Management here: https://www.arcapmgt.com/
Watch the video »
| | | | | | Lead Stories | | | Volatility Quant Soars 64% as Fear Goes Missing on Wall Street
Denitsa Tsekova - Bloomberg
A New York money manager has netted a 64% gain from a strategy riding the big plunge in volatility across the stock market in this expectations-busting year on Wall Street.
With the Cboe Volatility Index falling to post-pandemic lows in the great 2023 risk revival, the ABR Enhanced Short Volatility Fund has made outsize gains thanks to a simple systematic approach that includes shorting futures on this so-called fear gauge. That's proved a slam-dunk trade given price swings on equity benchmarks have stayed curiously low, including during Federal Reserve-related bouts of market panic.
/jlne.ws/41xJdJe
Surging Trading In VIX Options May Suggest A Market Sentiment Shift
Cboe via Benzinga
In recent months, a shift has been observed in the trading volume of volatility-linked options, as renewed appetite for stocks drove investors' interest in volatility-linked options to help buffer their portfolios against stock swings. This change, primarily seen with the Cboe Volatility Index (VIX) options, is a direct response to evolving market sentiment and increasing adoption of volatility as an asset class.
/jlne.ws/3thEYVt
Galaxy Digital targets more crypto bankruptcy asset sales after FTX deal; Funds under management at Mike Novogratz-led group triple to more than $5bn
Nikou Asgari - Financial Times
US billionaire Mike Novogratz's cryptocurrency group Galaxy Digital is hunting for more asset sales by bankrupt digital assets companies after a deal to sell coins held by FTX trebled its funds under management. Galaxy was chosen in August by administrators of the collapsed crypto exchange to sell, hedge and stake FTX's bitcoin and ether coins, as well as its holdings of Grayscale's bitcoin trust.
/jlne.ws/3GPxlsg
In a disorderly decade, Asia will play a standout role for investors
Mansoor Mohi-uddin - Financial Times
The 2020s are proving to be a disorderly decade for investors. Frequent shocks are shortening fund managers' horizons. But the crises are also giving rise to new longer term trends. Successful asset allocation, including diversification to Asia, is therefore likely to be markedly different from the 2000s and 2010s.
/jlne.ws/3GNiv5t
| | | | | | Exchanges | | | CME Group to Expand Gold, Silver and Copper Short-Term Options Expiries
CME Group
CME Group, the world's leading derivatives marketplace, today announced that it will expand its suite of short-term metals options to include Tuesday and Thursday expiries for Gold, Silver, and Copper, pending regulatory review. With the addition of these new Weekly contracts, scheduled to begin trading on January 22, 2024, option expiries will now be available every day of the business week, Monday through Friday.
/jlne.ws/4aq7bdk
A Note from Adam Inzirillo
Adam Inzirillo - Cboe
As we wrap up 2023, I wanted to officially introduce myself and share some 2023 data and access highlights.
In October I became the global head of Cboe's Data and Access Solutions business after almost four years leading our North American Equities team. Prior to joining Cboe, I spent more than 20 years in equities trading, most recently at Bank of America Merrill Lynch. I have big shoes to fill in this role, but my varied experience gives me a unique perspective that will help our team continue to find new solutions to meet your needs.
/jlne.ws/3Rrkguh
Cboe Canada Announces Planned Unification Of Its Canadian Operations
Cboe
NEO Exchange, MATCHNow, and other related Canadian regulated entities to be formally integrated into one corporate entity; Effective January 1, 2024, the amalgamation is expected to bring greater efficiencies and enhanced quality of service to customers; Cboe Canada plans to migrate the existing NEO trading platform to Cboe technology in the first quarter of 2025. Cboe Canada today announced receipt of all necessary approvals to formally unify its Canadian operations by bringing together the NEO Exchange and the MATCHNow alternative trading system (ATS), along with other related Canadian regulated entities, into one corporate entity under the umbrella of Cboe Canada, effective January 1, 2024.
/jlne.ws/3Tw0YGw
MIAX Exchange Group - Christmas And New Years Holiday Schedule
MIAX (via Mondovisione)
Please be advised the MIAX Options Exchange, MIAX Pearl Options Exchange, MIAX Emerald Options Exchange and MIAX Pearl Equities Exchange will be closed on Monday, December 25, 2023 for Christmas Day and Monday, January 1, 2024 for New Year's Day.
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| | | | | | Regulation & Enforcement | | | SEC charges fintech Tingo chief with 'massive' fraud after Hindenburg short position; US regulator says it uncovered 'billions of dollars' of fictitious transactions through entities controlled by Dozy Mmobuosi
Aanu Adeoye and Akila Quinio - Financial Times
The US Securities and Exchange Commission has charged a Nigerian businessman who bid for an English Premier League football club with "massive fraud", alleging that he and his three companies inflated their financial metrics to defraud investors.
/jlne.ws/41qJptz
SEC Claims 'Staggering' Fraud by Firm Hindenburg Called Out
Ava Benny-Morrison and Chris Dolmetsch - Bloomberg
Tingo Group, a financial technology company that was the subject of a short seller report, was sued by the US Securities and Exchange Commission for allegedly overstating its financial results in an ongoing fraud of "staggering" scope. Tingo and two related companies, Tingo International Holdings Inc. and Agri-Fintech Holdings Inc., have booked billions of dollars in false transactions through two Nigerian subsidiaries since 2019, according to the lawsuit, filed Monday in federal court in Manhattan. Tingo reported hundreds of millions of dollars in fake revenues and assets, the SEC alleges.
/jlne.ws/3RlLYIA
| | | | | | Miscellaneous | | | Wall Street's Dramatic Year Ends With Flat Bonuses for Traders
Katherine Doherty and Hannah Levitt - Bloomberg
Wall Street's dramatic year of dealmaking drought, collapsing banks and job cuts is ending with a mere whimper for traders' bonuses.
At JPMorgan Chase & Co., the overall bonus pool for its legions of traders will be close to flat compared with 2022, according to a person familiar with the matter. That's similar to Citigroup Inc., in the midst of its biggest restructuring in decades, where the pool will likely be little changed if not slightly down, another person said, asking not to be identified discussing private information.
/jlne.ws/3RPJTWW
The Other Side of Greenwich: Hunger Among the Hedge Funds; Home to a handful of billionaires, Greenwich is also struggling with thousands of people who face food insecurity.
Ella Ceron - Bloomberg
The drive through Greenwich, pearl of Connecticut's Gold Coast, can feel like a journey into 48 square miles of money. From back-country lanes around the exclusive Round Hill Club - past patrician estates, $5 million colonials, the Ferrari and Porsche dealerships, Saks and Hermès - to the Indian Harbor Yacht Club on the sound, Greenwich, celebrated hedge fund capital of the world, seems to drip with wealth.
/jlne.ws/484mlmP
***** The poor will always be with us. Who said that?~JJL
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