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The Weekend Update
JLN PRESS ROOM PICK OF THE WEEK
Bitcoin Creator Satoshi Nakamoto Could Be Unmasked at Florida Trial
A seemingly run-of-the-mill trial is playing out in Florida: The family of a deceased man is suing his former business partner over control of their partnership’s assets.

$54,406/$300,000 (18%)
MWE PRESENTS:
KENNY POLCARI – OPEN OUTCRY TRADERS HISTORY PROJECT PART 2
When Kenny Polcari started out at the New York Stock Exchange, “It was paper and pencil until the turn of the century,” he said.

The exchange started to introduce handheld computers in the late 1990s, but it was only in beta, not full blown yet. Everyone was preparing for Y2K. When Y2K happened and the technology didn’t fail, Polcari said, there was a push on the industry to move forward with modernization. They converted all the stocks over to decimals alphabetically, one at a time, over a six-month period, starting with the stocks named A to D.

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FROM JOHN LOTHIAN NEWS
JPMORGAN FIGHTS TESLA OVER WARRANTS; CONSUMERS WORRIED, BUT IN A BUY-NOW MOOD; CME MICRO MINIS, MIAX SPIKES FUTURES SET RECORDS – THE SPREAD – NOVEMBER 19, 2021
-- Tesla continues to grab headlines, options trading mostly remains brisk;
-- John’s Take: Private equity plays the industry name game;
-- Russell Rhoads broadens ‘Terms’ with a China A 50 Index comparison.

THE JOHN LOTHIAN NEWS DAILY UPDATE (WEEKLY ROUNDUP) – WEEK OF 11/19/2021
The John Lothian Daily Update is a podcast turning the daily JLN hits and takes comments, our original content and the stories and quips in the top box of First Read into a daily podcast.

FIA EXPO 2021: FTX’S BRETT HARRISON LOOKS TO HIT A HOME RUN
The story of FTX is, so far, a short but impressive one. As Brett Harrison tells it, the spot cryptocurrency exchange started only about a year ago. Now FTX does about $400 million in spot volume per day “and growing.” That’s after increasing the company’s user base by 50% in the last quarter.

But in an interview with John Lothian News at FIA Expo 2021, Harrison, the president of FTX, focused on the company’s larger ambitions. He noted that FTX recently acquired CFTC-regulated LedgerX, a clearinghouse and derivatives clearing organization (DCO), that it rebranded as FTX US Derivatives.The platform opens the door for FTX to offer crypto derivatives — futures and options — to its U.S. customers, he said.

FIA EXPO 2021: EXEGY MERGER SEEN AS SOLID MARRIAGE OF PRODUCTS, BUSINESSES
Why bring Exegy Inc. and Vela Trading Systems together? The firms combined forces last May and two of their executives talked to JLN about the reason behind their merger at the FIA Expo 2021 in November.

David Taylor, Exegy’s chief technology officer and co-president, said the combination allows the companies to have more scale in the marketplace and gives them more opportunities to invest in the expansion of the company’s offerings. “Growing organically and inorganically was always part of our agenda,” he said.

FIA EXPO 2021 VIDEO: GREENWOOD PROJECT TAKES OFF LIKE A ROCKET
Bevon Joseph, executive director and co-founder of the Greenwood Project — along with his wife, Elois Joseph — is a victim of his own success. The program has boomed, and he is thrilled.

“The impact has been crazy,” he said. “We didn’t see this coming, but we are happy.”

In a video interview with John Lothian News at FIA Expo 2021, Joseph said the program, which introduces high school and college students in underserved communities to the financial services industry, has seen especially dramatic expansion in 2020 and 2021 with the attraction of new talent and the extension of the project to new cities.

THE HISTORY OF FINANCIAL FUTURES: LEE OLIVER’S JOURNEY BACK TO HIS BEGINNINGS, PART 2
The most recent chapter of Lee Oliver’s career took him back into the world of banking and FX trading.

In the second of a two-part video interview with John Lothian, Oliver talked about his transition from a busy career as a freelance writer for Euromoney to a job writing and editing for Cititbank’s wire service.

FIA EXPO 2021 VIDEO: TOM LAZENGA OF TNS TALKS TECH
Tom Lazenga is global head of sales at TNS, or Transaction Network Services, a fintech firm that provides global real-time data communication networks to industry participants. John Lothian News interviewed him at FIA Expo about the firm’s technology offerings and its plans for the future.

FIA EXPO 2021 VIDEO: ICE EXEC SAYS PANDEMIC VOLATILITY OFFERS LESSONS FOR CLEARINGHOUSES
The intense market volatility seen during the beginning of the global pandemic, particularly in April and May, underscored both the interconnectedness of the markets and the fact that not every participant is at the same level, said Chris Edmonds, global head of closing and risk at the Intercontinental Exchange, Inc.

In a video interview with John Lothian News at FIA Expo 2021 following a roundtable on operational efficiencies, Edmonds said it became clear during COVID-19 and the abrupt move to working at home that more efficient ways to share information sooner are needed.

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