| June 13, 2024 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | | 
Fintech Banker Sees Pockets of Progress Amid Uneven Recovery
JohnLothianNews.com
Dushyant Shahrawat, a managing director at the boutique investment bank Rosenblatt Securities, sees an uneven recovery playing out in financial markets and technology hubs around the world.
In an interview at the FIA International Futures Industry Conference in Boca Raton, Fla., Shahrawat said the public markets have regained momentum, even as the Federal Reserve signals continued interest-rate increases. "The public market seems to be recovering very well," he said.
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The role of the FCM: Futures Discovery EP 10
JohnLothianNews.com
Today, we're immersing ourselves in a detailed exploration of the pivotal Role of Futures Commission Merchants, commonly known as FCMs. These financial intermediaries play a crucial role in facilitating futures and options trading, serving as a linchpin in the complex web of derivative markets. Understanding the intricate responsibilities and functions of FCMs is essential for navigating the dynamic landscape of modern financial systems.
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| | | | | | Lead Stories | | | Roaring Kitty may have cut GameStop options position, strategists say
Saqib Iqbal Ahmed - Reuters
A surge of trading in some short-dated GameStop options contracts on Wednesday suggested to some market participants that Keith Gill, the stock influencer known as Roaring Kitty, may have sold some of his recently-disclosed options position in the company. Gill, who helped launch the meme-stock phenomenon in 2021, recently disclosed a sizeable GameStop stock and options position in a screen shot posted on Reddit on June 2. The screen shot showed he held 120,000 GameStop June 21 call options at a strike price of $20, bought at $5.6754 per contract or $68.1 million in all. The screen shot also showed he owned 5 million GameStop shares worth $115.7 million on June 2.
/jlne.ws/3VBCNXX
Interactive Brokers expands European trading through Cboe Europe Derivatives; Development builds on Interactive Brokers' existing European equity derivatives offering through Eurex and Euronext, providing an added route to manage European investments.
Wesley Bray - The Trade
Global electronic broker Interactive Brokers has added European stock options and European index futures and options through Cboe Europe Derivatives (CEDX). The move will offer Interactive Brokers' clients another means to trade European equity derivatives alongside a wide range of global financial instruments, including stocks, options, futures, etc., from a single unified platform.
/jlne.ws/4bhtWiZ
Is Roaring Kitty Selling His GameStop Options?
Gunjan Banerji - The Wall Street Journal
Traders are speculating that Roaring Kitty is selling his mammoth GameStop options position. In his last screenshot on Reddit, posted Monday, he showed a position of 120,000 contracts tied to GameStop options expiring this June. At the time, there were 166,405 contracts outstanding tied to that specific trade, Cboe Global Markets data show. This specific call option has a so-called strike price of $20, the level at which it could be exercised.
/jlne.ws/3KMuQZC
Bank of Mexico says it could act to restore 'order' in markets
Anthony Esposito and Brendan O'Boyle - Reuters
The Bank of Mexico is monitoring recent volatility in domestic financial markets, including foreign exchange markets, and could act to restore order in the event of "atypical" or "extreme" behavior, the bank's governor Victoria Rodriguez said on Wednesday. Mexico's central bank "will be very attentive to the development of our markets, and if they show atypical behavior or extreme volatility, and if warranted, it could take the necessary measures to restore their orderly behavior," Rodriguez said during a presentation of the bank's biannual financial stability report.
/jlne.ws/3yWrwZA
South Korea Says 'No Going Back' Once FX Trade Reform Begins; Nation to extend trading hours for onshore won from July 1; Economic growth momentum intact in 2Q, senior official says
Sam Kim and Hooyeon Kim - Bloomberg
A senior South Korean official underscored the nation's determination to ensure that its extension of trading hours for the onshore won will be permanent as it pushes for its biggest market reforms in decades in a bid to join a global government bond index. "There are concerns we may make a U-turn if market volatility grows huge, but that is not possible and we are very determined we will not do so," Vice Finance Minister Kim Byoung-hwan said in an interview Thursday. "We'll continue to take measures to assuage market concerns once the extension begins."
/jlne.ws/4emI115
| | | | | | Exchanges | | | Cboe Expands Partnership with FTSE Russell
Anna Lyudvig - Traders Magazine
Cboe Global Markets has expanded its collaboration with FTSE Russell to drive product innovation in the digital assets space, potentially beginning with cash-settled index options tied to the FTSE Bitcoin Index and the FTSE Ethereum Index. Catherine Clay, Global Head of Derivatives at Cboe, said that for many years, Cboe and FTSE Russell have worked together to offer index options based on FTSE Russell indices.
/jlne.ws/3yWyUUP
Electricity Derivatives Exchange Electronx Secures $15m Seed Investment; Led by Innovation Endeavors, seed round investors include DCVC, Amplo, BoxGroup and Lightning Capital; Energy market also welcomes new regulatory board members and advisors
ElectronX
ElectronX, a new energy exchange created to help accelerate the U.S. grid transition to renewable sources, today announced it has raised a $15 million seed investment round led by Innovation Endeavors. ElectronX is building a robust and modern power market for the clean energy transition, smoothing the financial path of renewables adoption for power providers, consumers and industry innovators that currently face volatile short-term price exposure to electricity.
/jlne.ws/3z0A2Xv
How to Access International Exchange Data with Cboe Global Cloud
Cboe
Accessing international exchange data is crucial for making informed trading decisions, but accessing reliable global market data can pose many challenges, from high costs to limited vendor options and the need for physical infrastructure. Recognizing these hurdles, Cboe built Cboe Global Cloud, powered by Amazon Web Services (AWS).
With as little as an internet connection, companies can tap into real-time streaming data from global markets through a unified source. This shift to cloud technology not only slashes procurement timelines from months to minutes but also opens doors to a diverse array of data sets, empowering users to innovate and refine their trading strategies.
/jlne.ws/4cmAqO7
| | | | | | Strategy | | | Is the VIX too Low?
Andrew Hecht - Barchart via Nasdaq
The VIX index measures the implied volatility of S&P 500 put and call options. The VIX reached an 85.47 high in 2020 as the global pandemic gripped the stock market, causing it to plunge. The index has made lower highs since the 2020 peak as stocks have been on an almost one-way bullish path.
The current VIX level, below 12.50, implies stocks will continue to rally. However, the most significant downdrafts in stocks tend to occur when the market least expects a correction.
/jlne.ws/3RpyKLX
| | | | | | Miscellaneous | | | Before Meme Stocks, WallStreetBets Traders Mainlined Options; An excerpt from Nathaniel Popper's new book "The Trolls of Wall Street."
Nathaniel Popper - CoinDesk
The crypto boom in the final months of 2017 woke up millions of people to the idea that you could get rich from your phone. In December alone, three million people downloaded the app for Coinbase, the main American crypto exchange. Coinbase had been much smaller and less popular than Robinhood, but in December, it got about six times more downloads.
/jlne.ws/3RtJbhE
Stocks settle faster now. Why it's a big deal for active traders.
MarketWatch (Video)
On May 28th, 2024, the SEC's T+1 settlement rule went into effect, making stock settle in just one day instead of two. This is how the new settlement time affects traders with different types of accounts.
/jlne.ws/4cbDAEI
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