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Event SpotlightOIC 2010 Conference When: Apr. 29 to May 1, 2010  Full info: www.optionseducation.org/conference Who should attend: The conference is attended by representatives from all segments of the options business, including institutional and retail firm sales, strategy and trading professionals, buy-side end users, liquidity provider organizations, technology services representatives, and exchange decision makers and key personnel, both domestic and international. ++++ 26th Annual Risk Management Conference  The 26th Annual Risk Management Conference (RMC) will be held Sunday, March 7 through Tuesday, March 9, 2010 at The Ritz-Carlton Golf Resort, Naples, FL. Hosted by the Chicago Board Options Exchange (CBOE), CBOE Futures Exchange (CFE) and CBOE Stock Exchange (CBSX), the RMC is the leading educational forum for institutional end users of equity derivatives to discuss new products, strategies and tactics to manage risk exposures and enhance yields. Topics range from basic derivatives applications to advanced trading concepts. Speakers include: Krag "Buzz" Gregory, Equity Derivatives Strategist, Goldman Sachs; Rick Jen, Senior Portfolio Manager, Wolverine Asset Management; Jon Loflin, Portfolio Manager, Blue Mountain Capital; Puneet Kohli, Portfolio Manager, National Bank of Canada; Marko Kolanovic, Ph.D., Global Head of Derivatives and Delta One Strategy, J.P. Morgan Securities Inc; Brayton Li, Senior Managing Director - Derivatives, Principal Life Insurance Company; Dr. Pippa Malmgren, President, Canonbury Group; Gary McAnly, Director of Trading, Oppenheimer Capital; Ken Mungan, Financial Risk Management Practice Leader, Milliman; Sheldon Natenberg, CTC; Benn Steil, Council on Foreign Relations and many others. For the complete list of speakers, agenda, registration and travel information, go to www.cboeRMC.com ++++
Featured ArticleFive Minutes With Jill E. Sommers  Commissioner Jill E. Sommers is serving her second term at the Commodity Futures Trading Commission (CFTC). She sat down with MarketsWiki’s Jessica Titlebaum at the Futures Industry Association’s (FIA) International Boca conference to discuss her career path, the current issues coming across her desk and her opinion of Bart Chilton’s remarks on the Exchange of Futures for Futures (EFF) controversy.
Q: How did you get on your current career path? A: My senior year of college I moved to Washington D.C. and worked for Senator Bob Dole. He was a senior member of the Agriculture Committee, which has oversight over derivatives. After working for Dole, I worked for a consulting firm and did work at the Chicago Mercantile Exchange (CME). Before joining the CFTC, I worked at the government affairs office at the CME for six years.
A: Yes. Back then, 70 percent of volume (at futures exchanges) was from agriculture contracts. There was talk during the creation of the Commodity Futures Modernization Act of 2000 because 95 percent of volume now is made up of energy or financial contracts, only 5 percent are agriculture contracts.
A: The hardest part of my job is going through the enormous amount of issues that come across my desk. Position limits, regulatory reform, EFFs – it is hard to juggle all the issues.
A: I think - and this is just my opinion - that Commissioner Chilton meant he agreed the Commission needs to make a decision on this issue and was not necessarily in favor of ELX. The headline could have been wrong.
A: Bart is a great guy and he is very interested in the issues. He has his own style of doing things. We communicate on issues that we care about. He is very supportive of my work with portfolio margining which I have been involved with since 2000. He will tell everyone to talk to me about it. I feel the same way about his involvement with metals. We get an enormous amount of e-mails about silver speculators. We are having a metals meeting in a few weeks. There are so many issues we talk about and we don’t get to dive into the issues. But we have been looking at metals and learning a lot about that asset class.
A: Every chairman has different personalities that they bring to the table. Walt Lukken, Mike Dunn, Gary Gensler. There personalities come about and the issues they care about. Gary Gensler is very passionate about his role and takes it very seriously. You can hear that in his speeches. He feels the American public is better served in an OTC-regulated market.
A: I have met President Bush, but not in my capacity of CFTC commissioner. My name was submitted to the White House and I met with people for interviews. The process is very different under both administrations, but I understood that the President had to sign my nomination papers before moving to the Senate.
A: I travel a lot. I chair the Global Markets Advisory Committee (GMAC), so I attend IOSCO meetings. Amsterdam, Tokyo, Madrid. I have never been to Montreal, but I am looking forward to next year’s meeting in Montreal.
A: It has been a difficult choice a couple of times. As a working mother, you never have the right answer. There are some trips I just can’t take. My daughter was graduating from Pre-K, and they had a ceremony with a cap and gown and everything. I can’t miss that. That would be too hard. I never want to let my husband or my kids down and I am trying to be in this position 100 percent.
A: This is such a great opportunity for me. I have worked in this industry for 15 years and I am still learning something new every day. In my position, we talk about why trades are done, how they are done, and risk management areas you wouldn’t think of. We were talking the other day about how you measure a true hedge. All these questions are going to have to be answered.
Miss the last interview? Take a look at Five Minutes With Miles Austin, director of the Carbon Markets and Investors Association (CMIA). "Five Minutes" is an ongoing series! Here's the complete list of interviews.
Job Providers and HuntersLooking for work? Looking to hire someone? MarketsWiki serves both sides of that equation. If you are a manager with a job opening to fill, you can post the details for the opening on our Job Postings page. Also, we just created (in November) a new feature so that people can identify themselves on their biography pages as looking for work. Take a look at the Job Seekers category to see who's hunting -- you might find the right person just by looking here! If you're one of those people looking for work, and if you have a biography page here in MarketsWiki, tag yourself as being in the job market! You can do it yourself if you have wiki editing access; take a look at our handy help guide: Using the Job Seeker Template. If you don't have a page yet, or don't want to edit the page yourself, just get in touch and we'll help you get set up! There's no cost to either employer or job hunter; our goal is simply to help the community stay connected.
| HeadlinesCME Faces Deadline To Keep Resolution Of Lehman Positions Confidential  By: Lynne Marek - (Crain's) - CME Group Inc. has until Friday to justify keeping parts of a Lehman Bros. Holdings Inc.'s bankruptcy examiner's report confidential: details about bidders and buyers for some of the collapsed bank's former futures and options positions at the exchange. The examiner, Jenner & Block Chairman Anton 'Tony" Valukas, came to terms on disclosure with a number of companies that contributed documents for the report but remained at odds with the CME over five documents that made up seven pages of the 2,200-page report. (more) Barnier: 'I Don't Believe In Self-Regulation'  Business groups and civil society relished the chance to grill the EU's new internal market commissioner, French politician Michel Barnier, at an event in Paris organized by EurActiv France. Barnier made clear that he was not a fan of self-regulation. (more) Bair Says Dodd Bill May Allow 'Backdoor Bailouts'  By Phil Mattingly - March 19 (Bloomberg) -- Federal Deposit Insurance Corp. Chairman Sheila Bair said Senator Christopher Dodd's plan to overhaul Wall Street rules could allow 'backdoor bailouts' through proposed Federal Reserve lending authority. (more) Traders' Cell Phones Would Be Recorded Under FSA Plan Summers Renews White House Pitch For Regulatory Overhaul Hungary Says Big Trader Bought Used Credits, Rattles CO2 Market FIA Opposes CFTC Position Limit Proposal  The Futures Industry Association today filed a major comment letter in opposition to the adoption by the Commodity Futures Trading Commission of its proposed speculative position limits on energy commodities. “The FIA strongly supports the CFTC’s ongoing efforts to prevent price manipulation and to conduct effective market surveillance to protect price discovery,” said FIA President John Damgard. “Based on our analysis, the proposed rules would harm these public interests and should not be adopted.” (more) CFTC: Market Players Continue Filling The Regulators' Inbox  FXstreet.com (Barcelona) - The players in the foreign exchange market have let their voice sound very loudly in the last few months. Since January 1st, the CFTC has received more than 8.200 letters with considerations about the new proposed rule to limit leverage in the United States to 10:1 for the Forex industry.
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Upcoming EventsHave an event you'd like to list? Put a new section in the Upcoming Events page and we'll put it here on the front page too! FIA Clearing 2010 - A Derivatives Forum Trading IT 2010 OpTech Conference Conference on the Regulation of Futures, Derivatives and OTC Products OIC 2010 Conference IDX 2010: 3rd Annual FIA/FOA International Derivatives Expo 4th Annual FIA/OIC New York Equity Options Conference FIA Treasury Market Forum FIA Asia Derivatives Conference 2010 FIA Expo 2010 - 26th Annual Futures & Options Expo Boca 2011 - 36th Annual International Futures Industry Conference MarketsWiki Spotlight(Statistics snapshot as of December 29, 2009. Average visitor statistics are based on site traffic in the last month.)
BlogsLooking for more in-depth coverage of financial topics? Click the logos below to visit our blog sites!
  The JLN Options Blog, edited by Sarah Rudolph, covers equity and futures options. It brings you headlines and in-depth news coverage of the products, exchanges, events and people in the world of options.
  The JLN Interest Rate Blog focuses on fixed income and credit derivatives issues and news, and occasionally features posts by guest contributors. It is edited by Christine Marie Nielsen, Senior Editor/Producer of MarketsWiki.
Newsletters The John Lothian Newsletter is a daily email intelligence briefing about the global exchange traded derivatives, securities and related OTC industries. The newsletter helps readers manage the historic level of change occurring within the derivatives and securities industries through the dissemination of information and commentary. The John Lothian Newsletter launched during the summer of 2000 and was offered for free for its first 3 years. In 2003, the newsletter switched to a voluntary pay format. Readers are asked to pay for the newsletter if they find it valuable. An annual subscription for the John Lothian Newsletter in 2009 is $115. Enterprise rates are available for organizations with 5 or more readers.
 The Environmental Markets Newsletter (EMN) is a daily email intelligence briefing, edited by Jim Kharouf, that includes news, press releases, reports, market data and regular commentary about environmentally-based markets. The newsletter is focused on collecting, aggregating and filtering news about the emissions and clean technology markets. News is collected and organized by geographic region – US, Canada, Europe, Asia, Middle East and Africa and Latin America – and distributed every business day. EMN launched in June 2006 and is offered on a subscription basis for $150 per year. New readers are welcome to receive Environmental Markets FREE for one month. Enterprise rates are available to organizations with 10 or more subscribers. A subscription to the newsletter includes a full copy of the John Lothian Newsletter.
 The John Lothian Newsletter - Metals Edition (JLN Metals Edition) is a FREE daily email newsletter providing traders, investors and other market participants with a comprehensive aggregation of news and commentary about the metals markets. The newsletter focuses on activities in the futures markets, the physical trade and the companies that participate in either or both. The JLN Metals Edition also monitors news reporting on the metals markets, commenting on quality and scope of coverage.
 John Lothian Newsletter - Managed Futures Edition (JLN MF) Edition is a FREE biweekly email newsletter, edited by Ron Sebonia, for CTAs, allocators, investors and other managed futures market participants. The JLN MF newsletter and blog seeks to provide consistent coverage of news affecting the managed futures industry, including: regulation, investor education, technology and industry issues. | |||||||||||||||||||||
Sponsorship, Subscriptions, Editing MarketsWiki is a companion to the John Lothian Newsletter (JLN), Jim Kharouf's Environmental Markets Newsletter (EMN) and the Chris McMahon edited John Lothian Newsletter - Metals Edition (JLN-ME). JLN, EMN and JLN-ME are daily email overviews of the news, opinions and happenings in the financial markets, environmental markets and metals markets. Additionally, the JLN Interest Rates Blog provides regular updates on fixed income related topics. To preserve the integrity of the information here, editing and contribution is limited to paid subscribers of either newsletter (though anyone can read the contents on this site). The subscriptions help pay for our team of professional journalists and technical support consultants, and the limited access ensures that we're not fending off and repairing vandalism and disinformation in our articles. We are actively seeking sponsors and content contributors to keep this project growing rapidly! If you'd like information about sponsoring the project, please contact us at info@johnlothian.com for details. If you'd like to subscribe to the newsletters, either to become a contributor or simply to stay informed in the rapidly changing financial world, visit our signup page. And finally, if you're already a paid newsletter subscriber and want access to the wiki, send an email request to Jon Matte, and he'll get you set up with a user id and a startup guide.
MarketsWiki Development Team
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