JLN PRESS ROOM PICK OF THE WEEK |
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JLN REINFORCES WORK FROM HOME STRATEGY WITH DECISION TO CLOSE CBOT BUILDING OFFICE |
John Lothian News continues to go strong during the pandemic, but we have decided to close our office in the CBOT Building when our lease is up at the end of the year. The JLN team will continue to work from home and venture into Chicago when opportunity or the need arises, but we will have no permanent presence downtown after the first of the year. JLN has had its own CBOT offices since 2010 after incubating the firm in the offices of my former employer, The Price Futures Group.
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$54,006/$300,000 (18%)
This Week's Donors: Eileen Flaherty |
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MWE PRESENTS: KENNY POLCARI – OPEN OUTCRY TRADERS HISTORY PROJECT PART 1 |
When he was young, Kenny Polcari wanted to be in politics – preferably to eventually be president of the United States. But, he said, “Thank God none of that came true.”
When he was 19, he interned on the floor of the New York Stock Exchange. He knew nothing about the business and was from Boston rather than New York. At first he thought, “Who wants to move to New York City in the summer as a 19-year-old kid?” He was going to go back to Cape Cod and be a lifeguard. But he thought about it and did his homework and said, “What’s the worst that can happen?”
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10 MOST CLICKED STORIES OF THE WEEK |
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4 MOST CLICKED MARKETSWIKI PAGES OF THE WEEK |
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| | U.S. Growth Slows, But Tesla Options Rev Up; Cboe Goes Nanos For Retail; John’s Take Previews Expo; Strategizing with Butterfly Spreads - The Spread - October 29, 2021 |
- The U.S. economy sputtered to a 2% growth rate in Q3, but Tesla traders are unfazed; Cboe expands S&P 500 Index options offerings for retail with smaller options; ethereum gets a boost from new ETF expectations; - John’s Take previews next week’s in-person return of FIA Expo; - Catching up with long butterfly spreads in the Term of the Week with Jermal Chandler.
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| | THE JOHN LOTHIAN NEWS DAILY UPDATE (WEEKLY ROUNDUP) – WEEK OF 10/29/2021 |
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.
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| | THE HISTORY OF FINANCIAL FUTURES: LEE OLIVER’S CAREER TURNS LED HIM FROM BROKERING TO REPORTING, PART 1 |
Lee Oliver grew up in South London and in 1981 left school for a temporary stint at brokering — a prospect that seemed more financially appealing at the time than getting a university degree in German or history.
In this video interview with John Lothian, Oliver talks about his career as a market maker and FX trader for several banks, beginning with Midland and continuing at Continental and Nomura Banks.
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| | JLN REINFORCES WORK FROM HOME STRATEGY WITH DECISION TO CLOSE CBOT BUILDING OFFICE |
John Lothian News continues to go strong during the pandemic, but we have decided to close our office in the CBOT Building when our lease is up at the end of the year. The JLN team will continue to work from home and venture into Chicago when opportunity or the need arises, but we will have no permanent presence downtown after the first of the year. JLN has had its own CBOT offices since 2010 after incubating the firm in the offices of my former employer, The Price Futures Group.
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| | THE HISTORY OF FINANCIAL FUTURES: DOUG HARRIS PROVIDES AN INSIDER’S LOOK AT INDUSTRY INNOVATION |
Douglas E. Harris not only can talk about the History of Financial Futures, he was a part of its development.
In this video interview with John Lothian, Harris traces his beginnings in the industry back to 1975, when he began work as an associate for the then-small law firm Baer Marks & Upham and was assigned helping exchanges including Comex determine what rules it would need to file to the Commodity Futures Trading Commission, then in its infancy.
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| | 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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