Conversation Starter

Today’s ugly data raises questions about strength of U.S. economy
Reuters (via Financial Post)
The U.S. economy showed worrisome signs as jobless claims rose sharply last week while ground-breaking at home construction sites tumbled in April and a gauge of underlying inflation pointed to weak demand.
http://jlne.ws/184qAew

*There is some good news buried amidst the bad news — SR

The Fed Is Failing On Both Parts Of Its Dual Mandate
Huffington Post
When it comes to monetary policy, the Federal Reserve has just two jobs, and it’s failing at both of them.
The Fed has a dual mandate to promote maximum employment and to keep prices stable.
http://jlne.ws/11I9AvB

*HuffPo puts in its two cents — SR

Conversation Starter

Raj Mahajan, Allston Trading CEO, Talks HFT and the Business of Prop Trading
MarketsWiki.tv

Raj Mahajan took the reins at Allston Trading as CEO in September 2012 and has spent a good deal of his time looking at the issue of high frequency trading (HFT). Allston has been one of the proprietary trading firms who has been willing to publicly discuss HFT, regulation and the future of that form of trading. Mahajan spoke with JLN’s editor-in-chief Jim Kharouf about HFT as well as the business challenges and opportunities for prop firms.

Watch the video »

Conversation Starter

Raj Mahajan, Allston Trading CEO, Talks HFT and the Business of Prop Trading
MarketsWiki.tv

Raj Mahajan took the reins at Allston Trading as CEO in September 2012 and has spent a good deal of his time looking at the issue of high frequency trading (HFT). Allston has been one of the proprietary trading firms who has been willing to publicly discuss HFT, regulation and the future of that form of trading. Mahajan spoke with JLN’s editor-in-chief Jim Kharouf about HFT as well as the business challenges and opportunities for prop firms.

Watch the video »

Conversation Starter

Raj Mahajan, Allston Trading CEO, Talks HFT and the Business of Prop Trading
MarketsWiki.tv

Raj Mahajan took the reins at Allston Trading as CEO in September 2012 and has spent a good deal of his time looking at the issue of high frequency trading (HFT). Allston has been one of the proprietary trading firms who has been willing to publicly discuss HFT, regulation and the future of that form of trading. Mahajan spoke with JLN’s editor-in-chief Jim Kharouf about HFT as well as the business challenges and opportunities for prop firms.

Watch the video »

Conversation Starter

Raj Mahajan, Allston Trading CEO, Talks HFT and the Business of Prop Trading
MarketsWiki.tv

Raj Mahajan took the reins at Allston Trading as CEO in September 2012 and has spent a good deal of his time looking at the issue of high frequency trading (HFT). Allston has been one of the proprietary trading firms who has been willing to publicly discuss HFT, regulation and the future of that form of trading. Mahajan spoke with JLN’s editor-in-chief Jim Kharouf about HFT as well as the business challenges and opportunities for prop firms.

Watch the video »

Conversation Starter

World Federation of Exchanges CEO Huseyin Erkan Shares His Perspective on the Global Economy
MarketsWiki.tv

Huseyin Erkan is CEO of the World Federation of Exchanges (WFE) and was formerly Chairman and CEO of the Istanbul Stock Exchange (ISE) from 2007 to 2012. Before becoming CEO of WFE, he was a member of the WFE’s Board of Directors from 2008 to 2011. Erkan spoke with JLN Editor-in-Chief Jim Kharouf about the WFE’s current restructuring process, what the end of regulatory reform means for exchanges, potential drivers for growth in 2013, and what impact the global economy will have on exchanges.

Watch the video »

Conversation Starter

NFA Chairman Chris Hehmeyer Talks Bankruptcy Reform
MarketsWiki.tv

One of the issues that emerged from the MF Global collapse was the complex and often frustrating US bankruptcy process. In the case of MF Global, futures customers’ claims were lumped in with other creditors. As such, it took more than a year for customers with segregated accounts to get their money back through the bankruptcy trustee. Chris Hehmeyer, CEO of HTG Capital Partners and chairman of the National Futures Association (NFA), spoke with JLN editor-in-chief Jim Kharouf about the need for bankruptcy reform for the futures industry. It’s a tall order, he says, but Hehmeyer believes it is critical to the future of the industry.

Watch the video »

Chris Ferreri of ICAP on SEFs, IDBs and the Futurization of Swaps
MarketsWiki.tv

Chris Ferreri is a managing director at ICAP North America, where he oversees ICAP ETC, the company’s hybrid brokered OTC solution. He was the first chairman of the Wholesale Markets Brokers’ Association Americas Inc. (WMBA Americas), and served again as chairman in 2012.

Ferreri spoke with John Lothian News Editor-at-Large Doug Ashburn at the Futures Industry Association Boca 2013 conference about the CFTC’s delay in finalizing rules on swap execution facilities (SEFs), the futurization of swaps, and the future of inter-dealer brokerage. Ferreri stresses the need for voice broking services alongside electronic order books, and reminds that the migration from voice to electronic platforms is not seamless among asset classes. He also requests regulatory consistency among modes of execution. Finally, Ferreri discusses the history of innovation among IDBs and suggests that, after a period of transition to the new regulatory regime, the industry will continue to innovate and evolve.

Watch the video »

Conversation Starter

John Lothian Profiles: Neal Kottke
MarketsWiki.tv

Neal Kottke, chairman of Kottke Associates in Chicago, is one of those industry veterans who has done it all in his career, from the commercial side to clearing, to starting his own clearing firm to proprietary trading. His contributions to the futures industry also included a term as chairman of the Board of Trade Clearing Corporation as well as two terms as vice chairman of the Chicago Board of Trade.

Kottke has seen more events and trends than most during a career that now spans four decades. In this John Lothian Profile, JLN explores Kottke’s experiences, how the markets have changed and evolved and how “discipline” is the key feature for successful trading. He also talks about how to manage volatility in the markets, managing risk and Black Swan events.

Watch the video >

Jill Sommers Reflects on the CFTC, Dodd-Frank, and Her Future
MarketsWiki.tv

Jill Sommers, Commissioner of the Commodity Futures Trading Commission (CFTC), is stepping down after the first quarter of this year. Sommers spoke with JLN editor-in-chief Jim Kharouf about the progress of Dodd-Frank, position limits, and what the future holds for the CFTC after her resignation.

Sommers discussed how the CFTC has changed over the last five years — including their increased budget and staff, moving from principles-based to rules-based rulemaking and their greatly increased public profile.

She also reflected on the Dodd-Frank rulemaking process, saying she wished the CFTC had defined swap-related terms first and delayed compliance with any rules until the rulemaking process was completed.

Sommers was sworn in as a CFTC commissioner on August 8, 2007 and served until April 13, 2009. President Barack Obama nominated her on July 20, 2009 to serve a five-year second term. Before becoming a CFTC commissioner, Sommers worked on several over-the-counter derivatives issues as policy director and head of government affairs for ISDA, as well as working closely with congressional staff drafting the Commodity Futures Modernization Act of 2000.

Watch the video »