David Wescott, a 30-year member of the Chicago Mercantile Exchange, died on July 16. Wescott was highly respected in the futures community and one of the longest-serving directors on the board of CME Group. He served as president of the Wescott Group since 1991 and managing partner of the Dowd/Wescott Group since 2006. He was also a founder and partner of Nirvana Technology Solutions.
CONTINUE READINGPeter R. Chiaracane, a long standing supporter of the futures industry, has passed away at age 63. Chiaracane had more than 20 years of experience in derivative and futures exchange operations, working at Credit Suisse, Bear Stearns and Dean Witter Reynolds in various senior roles.
CONTINUE READINGJ. Robert (Bob) Collins, co-founder and former managing member of Rosenthal Collins Group, passed away on Sept. 10 at the age of 77. Collins was instrumental in driving the success of RCG within the futures industry and was inducted into the FIA Futures Hall of Fame in March 2017 in recognition of his life-time work and achievements.
CONTINUE READINGFIA hosted its 35th annual Futures & Options Expo at the Hilton Chicago from Oct. 29-31. Scroll down to check out photos from the event!
CONTINUE READINGFIA responded to the CFTC’s call for suggestions on simplifying and modernizing CFTC rules via Project KISS today.
CONTINUE READINGIn the United States, two different legal regimes govern trading in securities and derivatives, each complete with its own language. These legal regimes evolved differently because the two markets at their core serve different purposes—capital formation on the one side, and price discovery and risk management on the other. In some cases, it can be easy to translate the language from one market to the other. However, one phrase from the securities world that does not translate accurately into the derivatives markets is “insider trading.”
CONTINUE READINGIn recent years, venture capital funds have made sizeable investments in new and emerging companies that are aiming to transform financial services through the use of innovative technologies. According to estimates published by KPMG, $13.6 billion was invested in fintech companies worldwide in 2016, compared to $12.7 billion in 2015 and just $1.4 billion in 2011.
CONTINUE READINGWhen I stood here last year, we were coming to the end of a year of substantial geopolitical change around the globe with the election of a new U.S. President just a few weeks earlier, following a summer of shock in Europe when the U.K. voted to leave the European Union.
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