[00:00:06] Welcome to the John Lothian News daily Update podcast for January 3, 2024. I am your host, John Lothian. This podcast is brought to you by John Lothian News the proud home of markets wiki and markets wiki education. We invite you to explore our extensive collection of trading history videos on the markets wiki education
[email protected]. This includes the Open Outcry Traders history project and the path to electronic trading video series. Thank you for joining us in this podcast. We'll give you a rundown of what's included in today's John Lothian newsletter. We'll discuss key points from the Hits and takes section, share anecdotes from the first read section, spotlight the three top stories from the last JLN and JLN options editions, and dive into the initial three stories from today's JLN lead section.
[00:01:01] Here are the hits and takes comments from today's JLN TMX group yesterday announced it has completed its acquisition of Vetify, a leading us based indexing, digital distribution, analytics and thought leadership company.
[00:01:17] It was only a matter of time before Harvard's president Claudine Gay resigned after her disastrous testimony before Congress and the allegations of plagiarism hanging over her. Yesterday, she resigned, giving her the shortest tenure as a Harvard president, the Harvard Crimson reported. The Wall Street Journal story is titled, Claudine Gay is out as president. Where does Harvard go from here? With the subheading, university must find a new president and address rifts among faculty, students and donors. The journal's editorial board chimed in with a piece titled President Claudine Gay falls at Harvard. With the subheading. Her resignation offers a chance for an educational reset.
[00:02:08] How did gay critic Bill Ackman of Pershing Square respond to the news of her departure from Harvard's presidency? He posted a 4000 word screed at Harvard claiming Dei is racist, according to the New York Post. He sounds like a stable genius I know about competition is heating up in the ETF sector, especially as the much anticipated bitcoin ETF applications are expected to be approved soon. But in the main ETF sector, there is lots of competition and the Financial Times has a podcast titled Blackrock and Vanguard duke it out over ETF market with the subheading vanguard and rivals gain ground on Blackrock in US ETF market.
[00:03:03] The FT's unhedged podcast has an episode titled the year ahead. According to AI and humans with the subheading is AI ready to compete with humans when it comes to making predictions about the economy?
[00:03:19] The New York Post is reporting that X, formerly known as Twitter, has restored its headlines to posts when users just post links. It was very frustrating when Twitter had been displaying only an image for the story without a headline describing what the story was about. The change to get rid of headlines had come directly from ex owner Elon Musk. It was not one of his better moves. But then the value of X continues to melt away during his stewardship of the company.
[00:03:54] The series accelerator for Sustainable Capital Markets takes center stage at Green Biz 2024, taking place February twelveth to 14th, 2024 at JW Marriott Desert Ridge in Phoenix, Arizona. Co leading three roundtables discussing regulatory developments on climate disclosure are Stephen Rothstein, managing director Randy Male, director of campaigns, both with series accelerator. They'll be digging into SEC rulemaking, California law and international standards in their sessions. Learn more and register with the link in today's newsletter. Our most read stories from our previous edition of JLN options were CboE digital sees bitcoin spot etfs drawing new institutional investors from Bloomberg via Yahoo Finance, crypto options trading volume hits record as ETF deadline nears from Yahoo Finance and 2023 recap CbOE index charts on performance, SKU and premiums from Matthew Moran on LinkedIn. Here are more stories from the first read section of today's JLN.
[00:05:16] Here's an episode full version of options discovery, understanding market movements to make options trades Matt Amberson, founder of Orats and Sibo Trader in this options discovery full interview, Esma Alice speaks with Matt Amberson, principal and founder of Options research and technology services. Matt discusses a variety of topics from his career, including his background as a Sibo trader as well as the different services provided on his platform. Matt also gives more insight into trading around bearish markets, how the Greeks are affected by movements in the market, how risk management can come into play when establishing positions, and more. You can check out orats with a link in today's newsletter, as well as view this video on johnlothianews.com. Here's a story from Bloomberg. The headline Sibo Digital sees bitcoin spot etfs drawing new institutional investors a host of new institutional investors, including pension funds and registered investment advisor based vehicles, will flock to bitcoin assets if U. S. Regulators approve the first ever spot exchange traded fund for cryptocurrency, according to CboE Digital's president. Quote, seeing that approval is going to pave the way for pension funds and RIA based funds to be able to invest in assets in a spot bitcoin ETF, where they may not be able to gain that access today in just a native spot bitcoin token, unquote, John Palmer said in an interview on Bloomberg TV. My comment personally, I like old institutional investors. Here's another story, this one from Sibo Global Markets 2023 recap on four volatility indices and a timeline two key events in 2023 that potentially drove higher values for key volatility indices were the collapse of Silicon Valley Bank SVB on March 10 and the beginning of the israeli Hamas war on October 7. The first half of 2023 saw higher interest rates and several banking crisis, including the buyout of Credit Suisse by UBS in Switzerland and two of the three largest bank collapses in us history by SVB and by First Republic bank on May 1, as shown in the charts below.
[00:07:58] You can see on a link in today's newsletter all four of these Sibo volatility indices hit their highest daily closing values of the year in March after the SVB failure. My comment Matt Moran is always worth reading. Here's another story, this one from Bloomberg the headline earthquakes in Texas oil country are on the decline after a crackdown on shale drillers. The frequency of earthquakes in west Texas declined in 2023 for the first time in at least a half a decade after regulators cracked down on the practice of burying toxic wastewater from oil drilling. The Texas section of the Burmean basin oil field recorded 194 quakes last year, a 10% drop from 2020, two's record high, according to the Texas Seismological Network. The figures didn't account for seismic activity in the New Mexico area of the Permian.
[00:09:06] My comment funny how that works. Here are the top three stories from Tuesday's JLN. Our top story Tuesday was the Financial Times landlords in a bind as France imposes new emissions rules. Second was the CME group's job posting on LinkedIn for manager editorial communications in Chicago. Third was how to become a wine snob in five exhausting steps from the Wall Street Journal. Here are the top three stories from the lead section of today's JLN. Here's the first story. It's from a site called the Lever. The headline SBF's victory from behind bars federal regulators allow a small cryptocurrency firm to vertically integrate, deregulating the industry just like Sam Bankman Fried wanted, the cryptocurrency industry landed one of its most desired prizes last month when regulators at a small but potentially pivotal federal agency allowed a little known cryptocurrency company to oversee all aspects of brokering, facilitating and clearing trades of its digital assets. Regulators and experts say the move, which came after millions were spent in lobbying in 2023 alone, could endanger customer assets and stifle competition, as well as set a dangerous precedent that could set up this and other financial markets for spectacular collapse. Here's another story, this one from the Financial Times. The headline EU regulators to probe links between banks and non banks. EBA chair Jose Manuel campaign says regulators would investigate funding and other connections between sectors. EU regulators will dig deeper into the links between banks and other financial firms, such as hedge funds, said the chair of the European Banking Authority, as concerns mount about the potential for contagion from stresses in the wider system. We should be doing more and we are going to be doing more, says Jose Manuel Campa said about regulators'efforts to predict how banks would be affected by strains in non bank financial institutions, which include hedge funds, private capital firms and cryptocurrency groups. Quote we need to have an understanding of the whole underlying chain in NBFIs, he said.
[00:11:44] Here's another story from the Financial Times the headline London should aim to be Bermuda on the Thames bold reform could make UK an uncontested world leader in reinsurance, bringing capital and jobs into the country Singapore on Thames has become a common meme used by politicians to pitch a hypothetical new model for the UK economy. But should the wholesale insurance market in London instead be pushing for a Bermuda on Thames regime for the uk reinsurance industry? With the UK's excellent plumbing into global insurance markets, could an anglicized version of the prudential regulatory regime in Bermuda, which has emerged in recent decades as a leading market for offloading risks, turn London into an uncontested world leader in reinsurance? If so, this could bring significant capital flows and many new jobs to London, with commensurate increased tax revenues for the UK.
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