Episode Transcript
[00:00:00] Um, beep don't welcome to the John Lothian News Daily Update podcast for February 5, 2024. I am your host, John Lothian. This podcast is brought to you by John Lothian News. Thank you for joining us. Here are the hits and takes comments from today's JLN Mike Gill has died five days after being being shot during a carjacking in Washington, DC. The former chief of staff to former CFTC chairman Chris Giancarlo was waiting to pick up his wife on K Street Northwest in Washington, DC on January 29 at 05:45 p.m. When a man entered his vehicle and shot him. The man ten minutes later shot and killed another man and stole his car after having tried to carjack another car ten minutes earlier. The shooter was later shot and killed by police who described him as having a criminal record and experiencing a mental breakdown. This incident is reported here by the New York Post, the Daily Mail, and the Washington Post.
[00:01:14] More important than how Mike died was how he lived Mike's good friend and CFTC colleague Chris Jean Carlo issued a statement on February 3 titled statement of former CFTC chairman J. Christopher Jean Carlo on the death of Mike Gill that spoke about how he lived. I share with you the closing paragraph from the former chairman Giacarlo's statement. Mike Gill was one of the most wonderful, honest, earnest and open hearted persons on this earth. His life reflected everything that is good and right and true. Words cannot express the tragedy of the loss of this fine man, colleague, and cherished friend. He will be sorely missed and long remembered.
[00:02:05] I came to know Mike during his time as chief of staff to Chris and there is nothing in Chris's statement I would disagree with. Mike was all of that and more condolences from the JLN team to his family, friends and colleagues. On Friday, Meta Platforms, Inc. Meta surged $80.21 per share, up 20.32% on the day at $474.99, setting a record for a $197,000,000,000 gain on the day. However, Meta was not the biggest percentage gainer on the day despite its big jump. The largest percentage gainer on the day Friday was Nexon Company Limited, a company engaged in the production, development and operation of online games and virtual worlds.
[00:03:00] Nexoi was listed on the Tokyo Stock Exchange in December 2011 and placed on the JPX 400 in 2015. It was added to the Nikai 300 in 2017 and in 2020 was added to the Nikai 225.
[00:03:19] The falling chinese stock market has chinese citizens concerned to the point that they are expressing their economic and stock market frustrations by inundating the US embassy's social media account in Beijing with unrelated comments and reposts, particularly on a post about protecting wild giraffes. There were 130,000 comments and 15,000 posts by Sunday, Reuters reported. Meanwhile, Bloomberg reports a chinese academic had called for a $1.4 trillion stock stabilization fund. Intercontinental Exchange, or ICE, reported its January 2024 volume and open interest, and it was impressive. Highlights included a 30% year over year increase in total average daily volume. AdV, with record options trading at 1.6 million lats and a 20% year over year rise in open interest OI, reaching a record Oi of 87.3 million lats on January 25. Energy trading experienced remarkable growth with a 33% year over year increase in adv and a 22% year over year surge in OI, including a record Oi of 56.3 million lots on January 25. Other notable increases were observed in natural gas financials and interest rate trading. Additionally, record figures were achieved in Coco and Sonya trading. Sibo's liveval tutorial video series helps Sibo Liveval set the standard in us options analytics, Sibo says former CBOT member and director Harold Lavender has been given the Erna s Ferguson Award, which recognizes exceptional accomplishments and or commitment or distinguished service to the University of New Mexico. University of Illinois agricultural economist Scott Irwin published a second book last year, speculation by commodity index funds, the impact on food and energy prices. This book is the academic research companion to his better known book, Back to the Futures, also published last year, the February edition of Focus from the World Federation of Exchanges. WFE Spotlights BME CEO Javier Hernani, who offers insights into the upcoming WFE clear convention occurring in Madrid, Spain, March 19 to 21st, 2024. In addition, Stefan Dorian, Cboe head of market data and access services for Europe, and Juan Manuel Olivia Torado, BMV's promotion and issuers director, reflect on what they learned from the WFE's market infrastructure certificate. Also, experien CEO Guy Molamid discusses the long awaited tipping point in the transformation of market infrastructure, the next step in the evolution of financial exchanges and associated systems. There's more to learn in the February issue of WFE focus with a link in today's newsletter. Our most read stories from our previous edition of Jetland options were hedge funds are making big bets on these 20 companies in a stock picker's paradise, even though they're skeptical about the market surge to record highs. From Business Insider OCC January 2024 monthly volume data from OCC traders play defense in regional bank etfs options as shares Sink from Reuters. Subscribe to the free JLN Options newsletter with a link in today's JLN. Here are more stories from the first read section of today's JLN.
[00:07:30] Here's a video FIA tech CEO Nick Salinger discusses partnership with eclerks to boost trade data network and launch of helpdesk in a video interview with John Lothia news FIA Tech CEO Nick Solinger discussed the recently announced partnership with eclerks to enhance its trade data network, TDN, and the launch of a collaborative help desk. You watch this video on johnlothiannews.com. Here's a story from CNN the headline finance worker pays out 25 million after video call with deepfake chief financial officer a finance worker at a multinational firm was tricked into paying out $25 million to fraudsters using deep fake technology to pose as the company's chief financial officer in a video conference call, according to Hong Kong police. The elaborate scam saw the worker duped into attending a video call with what he thought were several other members of staff, but all of whom were in fact deep fake recreations, Hong Kong police said at a briefing on Friday. My comment do you have a safe word so people know it's you?
[00:08:49] Here's a story from New City. The headline trading up how and why a team of international artists took control of the last pit at the Chicago Board of Trade a beautiful Monday morning in late August, and the financial district around the Chicago Board of Trade building is a ghost town, like something out of a post apocalyptic zombie movie, or perhaps just peak Covid shutdown. In Chicago. The infrastructure is present, security guards are at their stations. The coffee shop is open, but I see only a total of three traders in their signature colorful shirt jackets with identification badges on their chests. In my entire time walking around, this area used to swarm like an ant colony in a rainbow, with traders in all their bright jackets and colorful swagger. But that swagger and color has all gone gray. The landmark Chicago Board of Trade building, a bedrock colossus that anchors La Salle street with its majestic statue of series standing century, 45 stories over a financial district where Bentley's once one upped porsches, is being reimagined, perhaps even as a low income housing area. The streets around it are filled with eye level vacancy signs, though some nearby businesses that have catered to a less well healed crowd for more than a half century, like Bonavino restaurante and pizzeria skyride tap and Americana submarine, seem poised to last forever. My comment for years, there were plenty of drunk traders and brokers sleeping it off underneath their desks. So I guess this is not much of a change in some ways. Here are the top three stories from Friday's JLN our most clicked item on Friday was Nicole Oskins announcement on LinkedIn that she accepted a role as director of Finops at the CME group. Second was a tie between the mystery of the 400 million dollar FTX heist may have been solved from wired and LME clearinghouse reshuffles management from Reuters. Third was oil profits keep flowing for Exxon and chevron. From the Wall Street Journal, here are the top three stories from the lead section of today's JLN. The first story is from the Telegraph. The headline is big tech is about to change the stock market forever. Transformation of industry giants may be a watershed moment for global markets. The huge dividends announced last week by Meta, the company that controls Facebook and WhatsApp, will pay for a lot of hoodies and will at least spin out enough cash to keep Sir Nick Clegg from contemplating a return to british politics. They will generate as much as $700 million. That's 550,000,000 pounds annually for its founder, Mark Zuckerberg, and plenty for the rest of his senior team. But it marks something far more significant than that. This is the moment when big tech starts its transformation into big cash. Over the next few years, all the giants of the Internet will start to rival the oil and pharmaceutical conglomerates for the vast sums they generate for their shareholders, and all that cash will start to transform how the stock market works as well.
[00:12:27] Here's another story, this one from Fox News. Former Trump official Mike Gill dies after being shot during Washington, D. C. Carjacking incident former President Trump administration member Mike Gill recently died from injuries he sustained after he was carjacked in Washington, D. C, Fox News has learned. Gill, who served as chief of staff at the Commodity Futures Trading Commission, was sitting in his vehicle on Monday night when a suspect entered his car and shot him. The incident happened in the 900 block of K Street northwest at around 05:45 p.m. Here's another story, this one from the Financial Times. The headline Ethiopia food crisis threatens humanitarian catastrophe UK development minister says 3 million people face acute food shortage because of drought and civil war. Ethiopia is sliding into a humanitarian catastrophe with more than 3 million people facing acute hunger in the north of the country, the UK government has said in a warning that will invite comparisons with the 1984 famine, in which half a million Ethiopians starve to death. We're grateful for your attentive listening to the John Lothian news daily update. Please consider spreading the word about our podcasts among your friends. Moreover, if you haven't done so already, we would greatly appreciate it if you could spare a moment to leave a review on Apple Podcasts or whatever platform on which you access this podcast. Your reviews play a crucial role in introducing our content to new listeners. Also, if you haven't subscribed to the daily John Loatheyan newsletter, email yet, you can enjoy a complimentary 90 day trial by visiting johnlothiannews.com trial. Thank you for your valued support. Have a great day and stay safe and treat people the same way you want to be treated, with respect, equality, and justice. This has been. John Lothian Goodbye. This podcast has been produced by Andrew Lothian.
