The John Lothian News Daily Update

The CFTC issued a customer advisory warning the public about artificial intelligence (AI) scams promising significant profits through AI-driven trading bots and algorithms, cautioning investors to be skeptical of guaranteed high returns. In response to the CFTC's request for comments on AI regulation, it seeks industry input to understand and regulate AI's impact in financial markets. The London Metal Exchange joined the International Chromium Development Association, and China broke records by adding 216.9 gigawatts of solar power in 2023.

Blue Ocean Technologies, LLC (BOT) and MEMX have announced a technology partnership to enhance the Blue Ocean ATS global trading platform, with MEMX providing its market-as-a-service trading system, set for implementation by the end of Q1 2024. Jon Stewart's return to "The Daily Show" as both host and executive producer is generating anticipation, promising to inject humor and insight into the 2024 presidential election discourse. The Financial Times has released a special report on Sustainable Food and Agriculture, covering topics like food deserts in the US, Denmark's low-meat diet policies, African staple crop enhancements, and more. The Financial Times editorial board warns of the potential return of Donald Trump and advises global allies to be prepared for his nomination in the 2024 election. The Securities and Exchange Commission Historical Society reappointed 10 advisors and welcomed 13 new members. Mayor Brandon Johnson is supporting an ordinance in Chicago to effectively ban natural gas in new construction as part of climate change efforts. Lastly, CME Group is hiring for its data sales team in New York, particularly for those interested in benchmark rates.

Daniel Coleman, former GETCO CEO and O'Connor & Associates alumnus, featured in a recent Wall Street Journal story, revealed nine years ago that I had challenged him to the "Ice Bucket Challenge," a challenge he accepted and later passed on to the CEO of Jefferies. Join the FIA for their "2023 Annual ETD Volume Review" webinar, discussing record-breaking trading volume trends across interest rate, equities, and commodity markets with guest speaker Joseph Nehorai on January 31, 2024. MarketVector Indexes CEO Steven Schoenfeld's new book, "Mastering Crypto Assets - Investing in Bitcoin, Ethereum, and Beyond," co-authored with Martin Leinweber and Joerg Willig, aims to guide institutional investors, financial advisors, and individuals in incorporating digital assets into traditional portfolios. In a recent sale at Christie's Important Americana auction, Alexander Hamilton's personal pocket pistols, though not those used in his duel with Aaron Burr, were sold for $819,000, surpassing their estimated value.

Yesterday, OCC (Options Clearing Corporation) underwent leadership changes with Craig Donohue, the executive chairman, taking on the role of chairman of the board of directors in a transitional move, while CEO Andrej Bolkovic joined the board. Roland Chai, an executive from Nasdaq, also joined the board, replacing the longest-serving member, Meyer "Sandy" Frucher. The AFM's 26th Annual Conference in Thailand, scheduled for February 1-2, 2024, will cover a wide range of financial industry topics, featuring insights from diverse industry experts. The World Federation of Exchanges (WFE) will host the #WFEClear Conference in Madrid from March 19th to 21st, focusing on central clearing's future amid regulatory reforms, market changes, and technological advancements, with speakers from prominent organizations. On a personal note, I shared my experience with prostate cancer treatment and highlighted recent news about Ryne Sandberg and Dexter King's prostate cancer diagnoses. I encourage regular PSA testing for early detection. Apple introduced Stolen Device Protection in the iOS 17.3 update to enhance iPhone security against theft, and the Wall Street Journal provided recommendations for winter gloves. Lastly, Ted Sturiale announced his new role as the director of technology solutions at DV Trading LLC on LinkedIn.

In today's John Lothian News Daily Update, part two of the interview with Amanda Cain is published in the John Lothian Profiles interview series. Former GETCO CEO Daniel Coleman now leads Birmingham-Southern College in Alabama, which faces financial challenges, as reported by The Wall Street Journal. The lawyer spearheading the class action case against CME Group on behalf of b-share members is featured in a Lawdragon.com story titled "Meet The Lawyer Still Fighting For The People Of Flint." A significant player in equity options, Manoj Bhargava, who owns Simplify Inventions, which holds a stake in the Arena Group, which recently lost its license to publish Sports Illustrated, is highlighted. Florida Governor Ron DeSantis drops out of the GOP presidential race before the New Hampshire primary. The CFTC cancels its Open Meeting scheduled for January 22, 2024. An environmental lawyer, David Sargent, is acquitted of insider trading charges after his co-conspirator was found innocent. In other news, a report ranks Chicago 12th among 85 cities whose climate may be affected by climate change, shifting to a Temperate Humid Warm Summer from a Continental Humid Warm Summer. The report considers sea-level, climate, and water shortage in its rankings. Citi trader Marcus Satha, known for leading the firm's short-term interest rate trading desk, plans to leave to focus on the children's book charity he founded. Senator Tim Scott demands answers from the Treasury Department regarding their push for banks to surveil customer transactions using politically charged search terms. The US is seeing increased foreign ownership and investment in property such as farmland.

Condolences to former CME Group CEO [[Phupinder Gill]] and his family on the passing of Ajit Singh Gill, his 95-year-old father and a former Olympic hockey player for Singapore. The Financial Times features a "Special Report on Navigating Cyber Risk," delving into generative AI's potential in combatting cybercrime, the fragility of financial markets in the face of cyberattacks, and negotiating with hackers, particularly in ransomware scenarios. The report also underscores the need for stronger cyber defenses in industrial and energy sectors and healthcare systems' vulnerability to cyber threats. In AI news, a PwC survey reveals that 45% of global CEOs fear their business models may become nonviable due to technological advances and climate pressures. The Louvre Museum raises its ticket prices, sparking mixed reactions among visitors, while a mysterious discovery of cryptic weather reports from the 1880s unfolds in an antique dress. The International Energy Agency reports a 50% increase in renewable capacity in 2023 and predicts accelerated growth over the next five years, with renewables surpassing coal as the largest source of global electricity generation by early 2025.

Today marks Martin Luther King Jr. Day, honoring the civil rights leader's legacy of advocating for racial equality and justice through nonviolent means. Established in 1983, the holiday reflects Dr. King's tireless efforts and his famous "I Have a Dream" speech. JLN staff observes this U.S. holiday, allowing time for reflection and service. In financial news, the Financial Times highlights the growing demand for sustainability and responsible education within business schools, as students increasingly seek sustainability-focused education. The Tokyo Stock Exchange pressures companies to enhance capital efficiency through its corporate governance initiative, contributing to Japan's stock market's strong performance. Overseas investors return to the Japanese stock market, boosting blue-chip purchases. In the UK, police arrest individuals suspected of plotting against the London Stock Exchange, and the Depository Trust & Clearing Corporation comments on the SEC's ruling regarding expanded US Treasury clearing. The National Stock Exchange of India launches a new Investor Portal to provide comprehensive information about listed companies. In the crypto world, Brian Armstrong of Coinbase emerges as a prominent figure amid legal challenges faced by rivals like FTX and Binance, while Tether faces scrutiny for its role in scams and money laundering in Southeast Asia. Cboe Digital launches margined Bitcoin and Ether futures, while Genesis Global Trading pays an $8 million penalty and exits New York as part of a settlement. J.P. Morgan anticipates significant capital inflow into new spot Bitcoin ETFs, and BlackRock CEO Larry Fink expresses support for an Ethereum ETF. Hong Kong is urged to authorize spot cryptocurrency ETFs, white supremacist groups are found to use crypto for funding, and tokenized investment funds gain traction but pose technology risks, according to Moody's.

In the latest episode of the John Lothian Newsletter Daily Update Podcast, Andy Lowenthal, who dedicated 40 years and assumed 21 roles at Cboe Global Markets, officially embarks on his retirement journey, aiming to spend 2024 traveling with his wife and exploring microbreweries worldwide. Lowenthal's retirement is accompanied by his appointment to the Illinois Holocaust Museum and Education Center Board of Directors and his role as Co-Chair for the Chicago chapter of the U.S. Holocaust Museum's Children of Survivor Committee. His significant contributions and steadfast presence at Cboe leave a notable void. Additionally, Jahmal Cole, CEO of My Block, My Hood, My City, receives a unique honor with a mural depicting him and his organization's work underwritten by a local bank. Office vacancies in the U.S. reach a historic high of 19.6%, as reported by The Wall Street Journal, reflecting the evolving nature of office spaces. The same publication covers a story concerning Elon Musk's drug use, sparking concerns among executives and board members at Tesla and SpaceX. Ken Griffin, CEO of Citadel, discusses the essential skills and attributes for Gen Z to enhance productivity in a video presentation. The Wall Street Journal also emphasizes the significance of careful planning for tax deductions related to charitable donations. Lastly, the U.S. prepares to send its first rockets to the moon in 50 years, marking a noteworthy milestone in space exploration.

In the latest episode of the John Lothian Newsletter Daily Update Podcast: Part two of the John Lothian Profiles interview with PR professional and journalist Andy Yemma is now available on the John Lothian News website. Yemma shares insights into the FBI sting in the Chicago markets, exchange competition, and the historical significance of CME Group becoming the world's largest futures exchange. CME Group celebrates a strong finish to 2023, achieving an all-time record annual average daily volume (ADV) of 24.4 million contracts, including impressive Q4 and December ADV figures. The exchange also establishes new ADV records across various product categories. The MarketVoice Podcast features an engaging conversation with NYSE Group President Lynn Martin, covering her role, the state of capital markets, the NYSE Pillar technology platform, modernization with a human-centric approach, her STEM background, and more. Costco enters the gold market by offering 1-ounce gold bars with free delivery, potentially impacting futures exchanges concerned about unexpected competition. Matt Levine's Bloomberg column delves into the prospects of new bitcoin ETFs and their potential implications for the broader crypto movement in an article titled "Put the Bitcoins in the Box." Tokyo's largest fish market witnesses a remarkable auction, where a giant bluefin tuna fetches 114.2 million Japanese Yen ($788,440), marking a substantial increase from the previous year's price. A Chicago Tribune story challenges the narrative of people leaving Illinois, suggesting that the state's 2020 Census count may have been undercounted by 46,400 people, particularly those in group homes. In a twist to the Harvard president's resignation story, Business Insider accuses Bill Ackman's wife of plagiarizing her doctoral thesis, adding further controversy to the situation. Gabriella Kusz joins AI 2030 as a senior fellow and advisory board member, focusing on harnessing AI's transformative potential while mitigating its adverse effects. Additionally, Marisa Tashman assumes the role of head of legal at Blockchain Association.

In the latest episode of the John Lothian Newsletter Daily Update Podcast: TMX Group has successfully completed its acquisition of VettaFi, a prominent U.S.-based company specializing in indexing, digital distribution, analytics, and thought leadership. Harvard's President Claudine Gay has resigned following her controversial testimony before Congress and allegations of plagiarism, marking the shortest tenure for a Harvard president. The Wall Street Journal explores the university's path forward in a story titled "Claudine Gay Is Out as President. Where Does Harvard Go From Here?" Bill Ackman, a vocal critic of Claudine Gay, responded to her departure with a 4,000-word post claiming that "DEI is racist," as reported by the New York Post. The ETF sector is witnessing increased competition, particularly with the anticipation of bitcoin ETF approvals. The Financial Times discusses the battle for market share between BlackRock and Vanguard in the U.S. ETF market. The FT's Unhedged Podcast explores the role of AI in making economic predictions and whether it can compete with human forecasts. X (formerly known as Twitter) has reinstated headlines in posts when users share links, reversing a previous change made by owner Elon Musk. The episode also includes updates on sustainability in capital markets, insights into crypto options trading volume, and Cboe's index performance in 2023.

In this episode of the John Lothian Newsletter Daily Update Podcast: Part one of a John Lothian Profiles interview with Andy Yemma, a veteran PR professional and journalist who headed corporate communications at the Chicago Mercantile Exchange during the 1980s and early 1990s. Yemma shares insights into his experiences during the 1987 stock market crash, the FBI investigation, and the political dynamics at the exchange. The episode highlights the ongoing effort of MarketsWiki Education's history video series, aimed at preserving industry history. A GoFundMe campaign, initiated several years ago and still ongoing, supports this endeavor. The latest contribution to this campaign came from industry veteran and author Robert Khoury. Rob Khoury, author of books on internships, including "How to Intern Successfully: Insights & Actions to Optimize Your Experience" and "Intern Management: Principles for Designing an Exceptional Internship," released his second book in the intern series. The first book is aimed at parents of interns, while the new one caters to companies and individuals looking to hire interns. SEC Commissioner Mark T. Uyeda was sworn in for his second term on December 28, 2023, extending his tenure until 2028. He originally started his first term in June 2022. Morgan Stanley Executive Chair James Gorman, in an interview with Bloomberg, discussed his time as CEO, emphasizing his willingness to embrace mistakes. CME Group is searching for a Director of Equity Products in London. Bill Ackman is calling for the resignation of the entire board of the Harvard Corporation due to their support of former President Claudine Gay, following the resignation of the Harvard University president. Microsoft is introducing a dedicated AI Copilot button on its Windows keyboard, marking the first significant change to Microsoft keyboards since 1994. The episode shares contrasting opinions on artificial intelligence (AI), with John Lothian's doctor expressing concerns about AI replacing radiologists, while The Wall Street Journal's Greg Ip believes AI advances promise a brighter future. John Lothian concludes the podcast by expressing optimism about AI's potential to usher in a new information revolution, akin to the advent of personal computers and the internet, though acknowledging the need for adaptation to the changing world.

In the January 2, 2024 episode of the JLN Daily Update Podcast, notable industry updates include Nick Rustad's new role as a global asset manager at Taula Capital, Gregg Doud becoming the president and CEO of the National Milk Producers Federation, and the CME Group's search for a Manager of Editorial Communications in Chicago. Additionally, Taraneh Derayati, CEO at Vermiculus Financial Technology, shares a retrospective on 2023. JLN has welcomed an intern, Joanna Clohessy, an aspiring journalist with plans to study journalism at either the University of Missouri or Indiana University. The podcast also highlights a Wall Street Journal video on short sellers targeting struggling EV companies and an article on becoming a wine connoisseur in five steps by Lettie Teague.

John Lothian News Daily Update Podcast delivers a concise and engaging recap of the highlights from the John Lothian Newsletter. Each episode begins with the First Read section, featuring exclusive content such as original JLN videos, podcasts, commentaries, and industry insights, offering listeners fresh perspectives on critical market developments. The podcast then dives into the top three stories from JLN and JLN Options, providing a quick yet thorough overview of the most impactful news from the previous day in the financial and derivatives markets. To round out the update, it presents the top three stories from the Lead section of the newsletter, spotlighting the most significant developments and thought-provoking articles shaping the trading world. Whether you’re on the go or need a quick market update, the John Lothian News Daily Update Podcast ensures you stay informed with trusted, high-quality content curated for market professionals.

The John Lothian News Daily Podcast for April 4, 2025, opened with a focus on the futures industry's opposition to transaction taxes. John Lothian explained that such taxes would raise costs, widen bid-ask spreads, and damage market liquidity—drawing a parallel to the broader economic frictions caused by tariffs imposed by Donald Trump’s administration. Trump's new 25% tariff on European beer imports, highlighted in a Financial Times report, blindsided brewers like AB InBev, Heineken, and Molson Coors, with warnings of job losses and brewery closures across Europe. Further analysis from the Financial Times’ Ian Harnett warned that Trump’s "weaponized trade" strategy could escalate into "weaponized capital," reducing international investment flows and risking the reintroduction of capital controls. The podcast also highlighted Intercontinental Exchange's (ICE) community service initiatives in Atlanta’s Westside, led by Chris Edmonds, and featured Barry Ritholtz’s appearance on IEX’s Boxes and Lines podcast, where he discussed his new book, How Not to Invest, and shared insights into common investment mistakes. Industry news included FTSE Russell’s expansion beyond equities into options, digital assets, and commodities, revealed at FIA Boca50 by executives Tom Jenkins and Shawn Creighton. Eurex promoted Rafael Zanatta to head of exchange-traded derivatives liquidity management, and Laurie McAughtry of Euromoney received recognition as State Street’s Journalist of the Year. Market tensions over tariffs persisted, with headlines noting concerns from Goldman Sachs, new AI initiatives from the BIS, and strong volume growth at Eurex. The podcast concluded by covering the market turmoil triggered by Trump's tariff policies, the Senate Banking Committee’s advancement of Paul Atkins for SEC Chair, and sharp stock declines among major private equity firms such as Blackstone and KKR. John Lothian closed the episode by encouraging listeners to treat others with respect, equality, and justice, reinforcing the values critical to both markets and community life.

In the April 1, 2025, episode of the John Lothian News Daily Update Podcast, host John Lothian covers a range of significant updates. The Impact Project introduces its new tool, the Impact Map, offering transparent, open-source data on how government decisions affect communities, allowing users to track changes across sectors. Additionally, the SEC drops its case against Cumberland DRW LLC for operating as an unregistered cryptocurrency dealer. The podcast also highlights the latest episode of Inside the ICE House, which celebrates the legacy of Art Cashin, and discusses NYSE Texas's opening with the first listing of Trump Media and Technology Group. Other key stories include TMX Group COO Jay Rajarathinam’s departure, the latest regulatory news, and coverage of evolving market trends. The episode also features a summary of The Opening Bell movie script, and a correction in JLN's Scila video. Stay tuned for more updates and insightful discussions.

Commerce Secretary Howard Lutnick dismisses the inflationary impact of tariffs, contradicting economic realities as businesses warn of higher costs. SBA Administrator Kelly Loeffler announces the closure of six regional SBA offices, including Chicago, citing sanctuary city status—sparking backlash from local business advocates. Nasdaq President Tal Cohen outlines plans for 24-hour trading, aiming to expand global market access by 2026. CFTC Commissioner Summer K. Mersinger and SEC Commissioner Hester M. Peirce will discuss alternative investment regulations at an upcoming forum. Meanwhile, antimony prices surge nearly 300% amid China's export restrictions, threatening supply chains but benefiting Western miners. Canada retaliates against U.S. tariffs by removing bourbon and California wines from liquor stores. A 1987 Reagan speech on free trade resurfaces, but a key section on tariffs against Japan is omitted. Finally, CloudMargin celebrates its 10th anniversary with record growth, reflecting the rising demand for automated collateral management.

  John Lothian News Daily Update Podcast - January 14, 2025 Host John Lothian offers highlights from the John Lothian Newsletter, beginning with Hits and Takes. Key topics include the CFTC's review of Crypto.com's Super Bowl betting contracts and their potential legal and ethical concerns, as well as industry commentary on the gambling sector’s societal impacts. The podcast also covers the departure of Clark Hutchison from the CFTC, reflections on market functions, and announcements about upcoming events, such as the Security Traders Association of Chicago’s annual meeting. In the Top Stories section, the episode recaps headlines such as the CFTC’s scrutiny of Crypto.com’s contracts, Schwab’s recovery post-SVB crisis, and Robinhood's record-breaking $45M SEC fine. From the First Read section, listeners can explore Trading Technologies’ multi-asset innovations and hear insights from industry leaders like Jonathan Kellner and Sriram Krishnan. Stay informed with concise market updates, curated news, and industry-leading insights. Listen and subscribe for free today!

John Lothian News Daily Update Podcast delivers a concise and engaging recap of the highlights from the John Lothian Newsletter. Each episode begins with the First Read section, featuring exclusive content such as original JLN videos, podcasts, commentaries, and industry insights, offering listeners fresh perspectives on critical market developments. The podcast then dives into the top three stories from JLN and JLN Options, providing a quick yet thorough overview of the most impactful news from the previous day in the financial and derivatives markets. To round out the update, it presents the top three stories from the Lead section of the newsletter, spotlighting the most significant developments and thought-provoking articles shaping the trading world. Whether you’re on the go or need a quick market update, the John Lothian News Daily Update Podcast ensures you stay informed with trusted, high-quality content curated for market professionals.