| | This week: An anticlimactic end to a huge spoofing trial; Deutsche Boerse makes big acquisition moves; Brexit got spooky; and Assange is finally done rubbing Ecuadorian embassy officials the wrong way. |
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JLN PRESS ROOM PICK OF THE WEEK |
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Inside the Chicago hedge fund turf war between billionaire Ken Griffin and Dmitry Balyasny |
Citadel's Ken Griffin used an internal Balyasny email to talk about the competitor hedge fund's culture during Citadel's annual meeting, sources say.
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MOST CLICKED STORY OF THE WEEK |
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Hung Jury in Trial of US v Thakkar |
The trial of Jitesh Thakkar for aiding and abetting two instances of spoofing – which were executed by the convicted mega spoofer Navinder Sarao, whom Thakkar never met – ended Tuesday afternoon at about 4:30 when Judge Robert Gettleman dismissed the hopelessly locked jury.
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| | The Spread – A Bumpy Ride |
Some fines and a speed delay make for a bumpy ride in this episode of The Spread.
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| | US v Jitesh Thakkar: Waiting for the Denouement |
According to Merriam Webster, the (second) definition of “denouement” is “the outcome of a complex sequence of events.”
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| | Building a Crypto Market in Traditional Futures Exchange Form – Thomas Chippas, ErisX |
Early crypto exchanges weren’t bred from any tradition – they were born on the far fringes of capital markets know-how. To change that, ErisX brought together a staff...
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| | The Great Migration – Rick Lane, Trading Technologies |
Trading Technologies announced the sunsetting of its X_Trader platform at the end of 2018 which means that a large part of 2019 will be spent migrating its remaining user base to the new TT platform.
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| | The LME’s Ambitious Tech Revamp – Matt Chamberlain, LME |
London Metal Exchange CEO Matt Chamberlain knows that the more than 150-year-old exchange has not been at the front of the pack when it comes to technology, but he also knows that gives it an opportunity to survey what other market participants have done in their markets.
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| | A “Computer Guy From Naperville”: Closing Arguments in US v Thakkar |
Closing arguments in the trial US v Thakkar took place Monday in a long morning for the jury, lasting about three hours. After the charge of conspiracy to spoof was dismissed by Judge Gettleman last week...
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| | Did an April Fools joke cause bitcoin to breach $5K? |
At one point in the 2013 comedy “The Wolf of Wall Street,” Matthew McConaughey’s character Mark Hanna – a slick, coke-snorting stockbroker – tells Leonardo DiCaprio’s character, “Nobody – I don’t care if you’re Warren Buffett or Jimmy Buffett – nobody knows...
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| | Ushering In The OCC’s Renaissance – John Davidson, OCC |
The OCC’s ENCORE clearing system, while resilient, is long in the tooth and inflexible. OCC’s Project Renaissance aims to revamp the central counterparty’s data, risk management and clearing systems. The OCC chose Cinnober as a partner for the multi-year project.
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MORE FROM THE THAKKAR TRIAL |
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| | Defense rests in a “thin” case against Jitesh Thakkar |
In a move that surprised the courtroom, the defense in the trial of U.S. v Jitesh Thakkar rested its case shortly before 1:00 p.m. on Thursday afternoon. Thakkar’s attorney, Renato Mariotti, had called no witnesses in his defense.
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| | Data Day in the case of U.S. v. Jitesh Thakkar |
In an abbreviated third trial day, the U.S. Department of Justice rested its case against Jitesh Thakkar and Edge Financial Technologies. Thakkar is on trial for allegedly facilitating the criminally fraudulent spoofing...
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| | US v Thakkar: “MasterChief” Day |
he second day in US v Jitesh Thakkar and Edge Financial Technology began Tuesday morning with defense attorney Renato Mariotti’s cross examination of Navinder Sarao, the prosecution’s headline witness. Sarao, a cooperating witness, is awaiting sentencing for convictions on...
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| | US v. Jitesh Thakkar: An Exercise in Justice |
April 1, 2019 was the first day in the criminal trial U.S. v Thakkar, in which the government charges that Jitesh Thakkar aided and abetted spoofing in a manipulative and deceptive scheme carried out by another person. It is a serious allegation and everyone is taking it seriously.
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