| September 07, 2023 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | | 
Options Discovery Episode 19: Intro To Entrepreneurship And Brokerages In The Options Industry
JohnLothianNews.com
In this episode of Options Discovery, Asma Awass explains what brokers are in the options industry and the services they provide. Alex Teng then sits down with Scott Sheridan, CEO of the brokerage firm tastytrade and co-founder of the trading platform thinkorswim, to discuss tastytrade, thinkorswim, and entrepreneurship in the options industry. Feel free to learn more about tastytrade and Thinkorswim here:
Watch the video »
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Entrepreneurship and brokerages in the options industry; Scott Sheridan, CEO of tastytrade, Discusses these topics and more in this Options Discovery full interview
JohnLothianNews.com
In this Options Discovery full interview, Alex Teng speaks with Scott Sheridan, CEO of the brokerage firm tastytrade and co-founder of the trading platform thinkorswim, to discuss tastytrade and entrepreneurship in the options industry. Scott talks about a variety of topics, including his career and transition to the brokerage business, as well as the start and growth of tastytrade and thinkorswim. Feel free to learn more about tastytrade and Thinkorswim here:
Watch the video »
| | | | | | Lead Stories | | | Wall Street's Fear Gauge Due for 1100% Jump, Some Traders Bet
Carly Wanna - Bloomberg
The CBOE Volatility Index hasn't popped above 35 all year, but some traders are betting it clocks 180 over the next few months.
A trader paid $30,000 Thursday for a brash wager that pays off if Wall Street's so-called 'fear gauge' increases more than twelvefold by its Feb. 14 expiration date. Since a version of the VIX started in 1993, the index has never even clocked 100. The closest it came was at the end of 2008 during the Great Financial Crisis, when it hit 89.53 â just half of what the trade at hand is betting on.
/jlne.ws/45FfT4D
Global Regulators Warn of 'Hidden Leverage' in Financial System
Caitlin McCabe - WSJ
Global financial regulators are warning against "hidden leverage" in the financial system, cautioning that a build-up of borrowed money among non-bank institutions could leave markets vulnerable to widespread stress and financial disruption.
The Financial Stability Board, a global body that coordinates on financial regulation, said in a Wednesday report that hedge funds in particular are operating with high levels of synthetic leverage, which is when derivatives are used to create exposure to certain assets.
/jlne.ws/3ZaoiKJ
Banks and investors step up opposition to EU derivatives plans; Trade bodies call on bloc to scrap initiative to move clearing deals out of London
Philip Stafford - Financial Times
Asset managers, pension funds and brokers across Europe have stepped up their opposition to EU plans to shift trillions of euros of derivatives out of London, warning the move could hurt European companies and investors. Eleven trade associations, representing both institutional investors and large banks and brokers handling derivatives trades, said on Thursday that they "strongly recommended" the policymakers ditch a controversial proposal to push a minimum amount of euro derivatives through so-called "active accounts" held at EU-based clearing houses.
/jlne.ws/3r8zMSs
Kraken Plans to Expand in Crypto Derivatives in Wake of FTX Fall; Crypto Facilities seeking expanded regulatory permissions; Jennings says volumes remain far lower than pre-FTX crash
Emily Nicolle and Anna Irrera - Bloomberg
Kraken's crypto derivatives unit plans to expand its services, targeting a market void left by the collapse of former rival FTX. London-based Crypto Facilities Ltd., which offers leveraged and cash-settled futures contracts in tokens like Bitcoin and Ether for institutional investors, is in talks with the UK's Financial Conduct Authority to gain permissions that would allow it to custody a broader range of client assets in the country, Chief Executive Officer Mark Jennings said in an interview.
/jlne.ws/3ZawPxe
Crypto Spot Market August Trading Volume Hits 4.5-Year Low as Volatility Fails to Spur Activity Markets Insider
Activity in the crypto spot market fell to the lowest level in more than four years last month, extending a lull at digital asset trading desks, as volatility sparked by Grayscale Investments' court victory over the U.S. Securities and Exchange Commission failed to stir traders from their torpor.
Spot trading volume on centralized exchanges cooled for a second straight month, falling 7.78% to $475 billion, the least since March 2019, according to digital assets data and index provider CCData. Trading volume refers to the total number of tokens that changed hands during a specific period.
/jlne.ws/3qXED9g
| | | | | | Exchanges | | | CME Group Announces Record Volume Across Suite of Short-Term WTI Options
CME Group
CME Group, the world's leading derivatives marketplace, today announced that trading in its suite of WTI weekly options, the company's fastest growing energy products, reached record average daily volume in August of 12,291 contracts. All of the top five record months for Weekly WTI Crude Oil options have occurred this year.
/jlne.ws/44JpUfU
Kraken Plans to Expand UK Crypto Derivatives in Wake of FTX Bankruptcy
Emily Nicolle and Anna Irrera - Bloomberg
Kraken's crypto derivatives unit plans to expand its services, targeting a market void left by the collapse of former rival FTX.
London-based Crypto Facilities Ltd., which offers leveraged and cash-settled futures contracts in tokens like Bitcoin and Ether for institutional investors, is in talks with the UK's Financial Conduct Authority to gain permissions that would allow it to custody a broader range of client assets in the country, Chief Executive Officer Mark Jennings said in an interview.
/jlne.ws/3sIsTbd
Cboe Global Markets Reports Trading Volume for August 2023
Cboe Global Markets, Inc.
Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today reported August monthly trading volume statistics across its global business lines. The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of certain August trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.
/jlne.ws/3Z4bkhP
Get to Know OCC's Government Relations Team
OCC
OCC's Government Relations team is responsible for managing OCC's engagement with government entities, including Congress and regulatory agencies and engages in open and frequent communications with policymakers on an ongoing basis. They partner closely with OCC's Legal team on issues of priority for OCC pending before OCC's primary regulators such as the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC) and the Federal Reserve Board, as well as international financial services standard setting bodies and international regulators as necessary. Some of these key issues are the subject of proposed rulemakings by the agencies, agency hearings and advisory committee meetings and consultations issued by international standard setting bodies.
/jlne.ws/3Z8wnQa
SGX Orb Awards winners turn focus to the future of finance
SGX Group
Winners of the SGX Orb Awards 2023 turned their focus to the future of finance, with top entries covering topics such as the realities of financial digitalisation and the evolving skillsets of sustainability leaders. This year's special category also saw submissions from next-generation investors who wrote on the world's second-largest economy, China, as well as how artificial intelligence (AI) could impact capital markets.
/jlne.ws/3sLrTTF
| | | | | | Regulation & Enforcement | | | CBOE filed two requests for first spot Ethereum ETF By Crypto.news
Investing.com
Crypto.news - The Chicago Board Options Exchange (CBOE) has filed two applications seeking the SEC's approval for the ARK 21Shares Ethereum ETF and VanEck.
The filing of the 19b-4 form is dated Sept. 6. A 19b-4 form is usually presented by self-regulatory organizations, such as the CBOE, asking for a specific requirement from the SEC.
The SEC will have 240 days to decide if the Ethereum (ETH) ETF will be approved or denied.
/jlne.ws/45NT3YM
Banks and investors step up opposition to EU derivatives plans
Philip Stafford - Financial Times
Asset managers, pension funds and brokers across Europe have stepped up their opposition to EU plans to shift trillions of euros of derivatives out of London, warning the move could hurt European companies and investors.
Eleven trade associations, representing both institutional investors and large banks and brokers handling derivatives trades, said on Thursday that they "strongly recommended" the policymakers ditch a controversial proposal to push a minimum amount of euro derivatives through so-called "active accounts" held at EU-based clearing houses.
/jlne.ws/3r8zMSs
Former Sam Bankman-Fried lieutenant to plead guilty in FTX case
Joe Miller, Mark Vandevelde and Scott Chipolina - Financial Times
Former FTX executive Ryan Salame is expected to plead guilty on Thursday to criminal charges over the collapse of the cryptocurrency exchange, less than a month before the trial against founder Sam Bankman-Fried is set to begin.
Salame, who co-led the exchange's main Bahamian entity FTX Digital Markets and became a big Republican political donor, will appear in Manhattan federal court at 3pm local time, according to people briefed on the matter.
/jlne.ws/3ZbwGtO
Trade associations call for deletion of active account proposal
FIA
EFAMA, BFPI Ireland, EACB, FIA EPTA, Federation of the Dutch Pension Funds, Finance Denmark, Nordic Securities Association, AIMA, ICI Global, FIA and ISDA, which collectively represent European end users of derivatives along with providers of clearing services, have published a joint statement on the European Commission's proposed Active Account Requirement under the European Market Infrastructure Regulation (EMIR 3.0).
The European Commission's active account proposal would require all market participants to hold active accounts at EU central counterparties (EU CCPs) for clearing at least a portion of certain systemic derivatives contracts. The EMIR 3.0. proposals are currently being debated by co-legislators in the European Parliament and Council.
/jlne.ws/3Pv5wdY
| | | | | | Strategy | | | 20 Stock Trades to Make Now With Profitable Strategy: Goldman Sachs
Mark Reeth - Business Insider
In a market that has suddenly grown more volatile after smoothly sailing upwards all summer, investors might be interested in a way to limit their losses while still enjoying profits.
In a recent note to clients, John Marshall, the head of derivatives research at Goldman Sachs, revealed the results of a long-term study analyzing the effectiveness of a variety of options trading strategies â and the one strategy that produced profit for investors over nearly two decades.
/jlne.ws/3PxCsCQ
New SPX Volume Records
Cboe (Video)
In #Vol411, Scott Bauer @cboesib goes over yesterday's contracts traded and P/C ratios (including those for $SPY and $SPX), lets us know that ATM implied $SPX #volatility for #options expiring tmrw sits above 15, gives details regarding an $SPX put spread that traded early this morning and more.
/jlne.ws/3PvPCAf
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