[00:00:06] Welcome to the John Lothian News daily Update podcast for April 4, 2024. I am your host, John Lothian. This podcast is brought to you by John Lothian News, the home of Marketswickie and Marketswickie Education. Thank you for joining us. Here are the hits and takes comments from today's GLN yesterday was the 176th anniversary of the founding of the Chicago Board of Trade in a flour store attic. It opened on April 3, 1848 as a cash market for grain and offered to arrive or forward contracts. The futures for kids fun Run is set for May 23 at Queen Elizabeth Olympic Park, Stratford, London. If you are interested in sponsoring the fun run, contact Emma Davy of the FIA e x CEO Peter Wrights wrote on LinkedIn that EeX's inaugural week of power trading in the nordic region has yielded promising results, marking a successful launch into the market initial turnover with the new zonal power futures sought ten trades conducted in the swedish SE three danish DK one market areas totaling 32.81 132 thousand, 811 in volume traded. Notably, the first trade was executed between norlease energy trading as and Uniper in the SE three market area. CBO Global Markets reported its March 24 its CBO global Market reported its March 2024 trading volume. Among the highlights were a record setting block trade in CBO Ibox iShares dollar high yield corporate bond index futures executed on March 22, representing $75 million in notional value. Also, Cebo Japan achieved a new monthly lit market share record of 5.3%, surpassing its last record set in February 2023.
[00:02:35] Mode Saleem, director of derivatives markets at Bursa, Malaysia, announced on LinkedIn a new record for the Bursa Malaysia crude palm oil futures contract, reaching a daily trading volume of 141,691 contracts on April 3, 2024, surpassing the previous high of 126,755 contracts on March 17, 2020. This surge coincides with a bullish trend in FCPO prices, with a 2.2% increase in the benchmark third month contract closing at 4407 ringgit per ton, he said. Experts attribute this rise to strength in rival edible oils firm crude oil prices and anticipation of increased demand ahead of ID al fateur.
[00:03:38] Additionally, the open interest for all derivatives products combined reached a new high of 366,962 contracts on March 26, 2024. Ices Chris Edmonds was interviewed at FiA Boca by Sean McMahon on the modern money Smartpod in a podcast titled Road Trip. ICE's Chris Edmonds talks AI and other data trends in capital markets. There's a link for the podcast in today's newsletter. The theme of the GCSI Annual Conference 2024 on April 18, 2024 at the Illinois Institute of Technology. This year is building cyber resilience surviving threats today and tomorrow. You see the agenda with the link in today's newsletter. I will be conducting a fireside chat at the conference at 1045 with Darren Heard Ciso of guaranteed rate. CFTC Chairman Rostam Benham is set to discuss global regulatory priorities and participate in a Q and a session at is this 38th annual general meeting on Tuesday, April 16, 2024 from 350 to 415 pm Tokyo, at the Grand Hyatt in Tokyo, Japan. Additionally, he will engage in an interview at the same venue on Wednesday, April 17, 2024 at 11:05 a.m.
[00:05:16] CFTC Commissioner Carolyn D. Pham is slated to address the topic of the new world of digital assets on a panel at HSBC's Global Investment summit scheduled for Tuesday, April 9, 2024 at 02:30 p.m. That's Hong Kong GMT eight at the grand ballroom level ll of the Conrad Hong Kong. In the latest open call session organized by the Security Traders Association, Bret Harrison, the founder and CEO of architect Financial Technologies and former CEO of FTX US, took the spotlight. Harrison delivered a presentation titled Machine Learning the next piece of the puzzle, where he looked into the potential role of machine learning in the financial industry. You can watch the video with a link in today's newsletter, or you may listen to this with a link in today's newsletter. Greenwood Project co founder Bhavan Joseph has been recognized with the alumni impact award by DePaul University School of Continuing and Professional Studies he shared on LinkedIn. If you are attending the options conference in Asheville, North Carolina on April 30 May 2 and have news and would like to be interviewed by John Lothian news, please contact
[email protected] to set it up our most read stories from our previous edition of JLN options were turmoil in Indias exchange traded FX options on forced position unwinding from Reuters, Options Insider, radio interviews, talking zero, DTE, bitcoin options one day VIX and more with CBO Global Markets from Options Insider and rate cuts from CBO video. 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. Here's a story from Crane Chicago business Johnson to greenlight four loop office to residential conversions four projects that would use massive taxpayer subsidies to help turn out moated office buildings on or near Lasalle street into nearly 1100 apartments are poised to move a key step closer to reality. Mayor Brandon Johnson is expected to announce tomorrow that the city will move forward with negotiations for proposed office to residential conversions of properties at 111 West Monroe Street, 208 South La Salle Street, 30 North La Salle street and 79 West Monroe, according to people familiar with the plan, the planned redevelopments are part of the LaSalle street reimagined initiative launched in 2022 by former mayor Lori Lightfoot. My comment for years it felt like I lived on LaSalle street. Now I really can.
[00:08:33] Here's another story, this one from Crane Chicago business as well. The headline want to swim the Chicago river? Open water events get the green light open water swimming will return to the once heavily contaminated Chicago river this fall during an event organizers are pitching as a celebration of the waterways environmental turnaround. 500 people are expected to participate in the organized swim slated for the early morning of Sunday, September 22. Swimmers will opt for a 1 mile or two mile route, with the course looping the main stem of the downtown river corridor between State street and Wolf Point. My green is the operative word here.
[00:09:25] Here's another story, this one from the Financial Times. The headline an enjoyable way to lose money. Don't try to pretend that collecting books, coins, whiskey or classic cars is investing.
[00:09:39] I have a recollection of some 18th century frenchman once writing collectors are like a man who eats oysters. He chooses the best at first, but ends up eating them all. Collectors will recognize this tendency. I confess I count myself in this camp, though I am having counseling to resist the urges. For me, it started with buying a first edition of Raymond Chandler's 1953 classic the Long Goodbye. Then it became a full set of american first editions, then others.
[00:10:15] They were always books that meant a lot to me. Like Molesworth Pooh, Dickens with Dickens. It was bound copies of some of his books as they were first published in monthly installments. The pleasure was in reading him, as those first readers had nearly 200 years ago.
[00:10:37] My cabinet my brother Dave will never get his money out of his beer can collection. But then most of them were garbage picked. Still, those cone tops can get a pretty penny in return.
[00:10:50] Here are the top three stories from yesterdays JLN our top story Wednesday was CBO eyes physically delivered vix options for us futures traders from fow. Second was polestars head of sustainability has a plan to make EV's even cleaner from Bloomberg. Third was new bills aimed to give Californians better work life balance. From NBC Bay Area here are the top three stories from the lead section of todays JLN. The first stories from the Wall Street Journal. The headline SEC says self reporting key factor in reducing off channel communication fines a senior enforcement official said the regulator considers several factors in determining the size of penalties imposed on financial institutions over recordkeeping violations. A financial firm's decision to disclose recordkeeping rule violations directly to the US securities and Exchange Commission can potentially reduce the fine it receives by a significant amount, a senior enforcement official said. Sanjay Wadwa, deputy director of the SEC's enforcement division, on Wednesday detailed how the regulator assesses fines in such cases, adding that he was responding to a critique from the defense bar that the agency was picking numbers at random.
[00:12:25] Here's the next story, this one from the Financial Times. The headline the big trading shakeup that is about to hit fund managers investors need to ready for the t one change in processing or risk unwelcome costs. For fund and investment managers around the world, every sliver of a percentage point of return matters. That is why they need to be ready for what is known as t one, an imminent US, canadian and mexican rule change on trade processing that risks adding unwelcome costs and a drag on performance.
[00:13:05] In the smartphone era, buying and selling financial instruments is a superficially simple act. A few taps and you can be the proud new owner of an exchange traded fund or shares in a far off country.
[00:13:22] Here's the next story, this one from the New York Times. The headline did one guy just stop a huge cyber attack? A Microsoft engineer noticed something was off on a piece of software he worked on. He soon discovered someone was probably trying to gain access to computers all over the world. The Internet, as anyone who works deep in its trenches will tell you, is not a smooth, well oiled machine. It is a messy patchwork that has been assembled over decades and is held together with the digital equivalent of scotch tape and bubblegum. Much of it relies on open source software that is thanklessly maintained by a small army of volunteer programmers who fix the bugs, patch the holes, and ensure the whole rickety contraption, which is responsible for trillions of dollars in global gdp, keeps chugging along. Last week, one of those programmers may have saved the Internet from huge trouble.
[00:14:28] Were grateful for your attentive listening to the John Lothian News Daily update. Please spread the word about our podcast among your friends. 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 havent subscribed to the daily newsletter or email yet you can enjoy a complimentary 90 day trial by visiting johnlothiannews.com trial. Thank you for your valued support.
[00:15:04] 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.
