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The Weekend Update
JLN PRESS ROOM PICK OF THE WEEK
Buy the Sharks, Sell the Bait
In January of 2014, after hearing CBOE executives crow at an annual Chicago press lunch about how great their publicly traded company and its products performed in 2013, I wrote a commentary titled “The CME Should Buy the CBOE Soon.” There have been many on and off discussions about just that for many years. And yesterday for just a short period of time it seemed like it was happening, as the Financial Times reported that CME Group had approached Cboe to acquire it in a $16 billion deal that CME Group later strongly denied.


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$53,406/$300,000 (17.8%)

Donors: Douglas Engmann, Trading Technologies
TIM BRENNAN TOOK THE LEAP TO A NEW FRONTIER OF TRADING
Tim Brennan did not know what he wanted to do after graduating from a small liberal arts college with a degree in psychology. As with many other traders from this era, his mom had a friend who could get him a job as a runner at the Chicago Board Options Exchange.
10 MOST CLICKED STORIES OF THE WEEK
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4 MOST CLICKED MARKETSWIKI PAGES OF THE WEEK
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TOP TWEETS OF THE WEEK
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FROM JOHN LOTHIAN NEWS
In January of 2014, after hearing CBOE executives crow at an annual Chicago press lunch about how great their publicly traded company and its products performed in 2013, I wrote a commentary titled “The CME Should Buy the CBOE Soon.” There have been many on and off discussions about just that for many years. And yesterday for just a short period of time it seemed like it was happening, as the Financial Times reported that CME Group had approached Cboe to acquire it in a $16 billion deal that CME Group later strongly denied.

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CME Group Flatly Denies It’s In Talks With Cboe Global Markets
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The CME Group Wednesday issued a firm denial that it was in talks to acquire Cboe Global Markets, a clear attempt to squash a story published by the Financial Times earlier in the day.

The FT story said the CME Group had “approached” Cboe Global Markets about an all-share deal for nearly $16 billion. It also was surprisingly specific about the alleged details of the proposed purchase. Citing unnamed sources, FT said the CME offered 0.75 of its own shares for every Cboe share, which would value Cboe at about $150 per share.

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FIA Reports July Exchange-Traded Derivatives Post 26.9% Volume Gain from a Year Ago; Dip vs. June
The Futures Industry Association released its July 2021 report on worldwide volume and open interest for exchange-traded derivatives on Tuesday, and it shows a volume gain of 26.9% compared with July 2020 for a combined total of 4.91 billion contracts. However, trading slowed down from its torrid pace of early summer — July volume was down 2.4% from the month earlier.
Larry Abrams Part Two: Trader, “New York Jew” and Magician
In part two of the JLN MarketsWiki Education Open Outcry Traders History Project interview with Larry Abrams, he talks about the emotionally draining market openings every day, his rather ugly experience in Kansas City opening a futures trading operation for Cooper Neff, options exercised out of the money, electronic trading, economic opportunity (and small worlds) and being a magician.

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