Options Insider Radio Interviews

In this episode, Mark is joined by Shelly Brown, Senior Vice President of MIAX.   They discuss: The lead up to launching MIAX The MIAX value proposition The competition for the NBBO Record volume numbers The cost of entry into the options business: Strategic Partnerships A possible equity exchange Getting into the volatility space After-hours options trading And more

In this episode, Mark is joined by Michael McClain, President and Chief Operating officer at The OCC.   They discuss: Michael’s history at The OCC New initiatives at The OCC, including the revisions to their capital plan Results of the survey looking at the effectiveness of advertising from OIC Volatility Dividend trades And more

In this episode, Mark is joined by Gary Delaney, Director at the Options Industry Council.   They discuss: What does Gary do for OIC in Europe? Inescapable regulation The OIC study on the use cases for structured products European use of ETFs and options based on ETFs Self-directed investment in the European market And more

In this episode, Mark is joined by Ted Bilharz, Director of PULSe Sales at CBOE.   They discuss: Ted's history at CBOE The lack of liquidity providers Hedging strategies Weekly options Forthcoming VIX weekly options CBOE System upgrades The latency arms race PULSe overview The pressure to systemize order flow The ongoing UI battle After-hours options trading

In this episode, Mark is joined by David Hait, President and Founder of OptionMetrics   They discuss: How David came to create OptionMetrics How OptionMetrics creates the pricing tools that users need to support in-depth research The impact of the evolution of the volatility landscape How does OptionMetrics provide the volume of data in a way that is useful for customers? Broker use of OptionMetri...

In this episode, Mark is joined by Jason Kuruvilla, Senior Manager, and Todd Briggs, Partner, from the McGladrey Financial Services Group.   They discuss: How McGladrey works with clients in the financial services industry Looking at the tax implications of trading various securities in different jurisdictions Pending regulatory issues and the tax and audit concerns about them How they keep up wit...

In this episode, Mark is joined by JJ Kinahan, Chief Market Strategist at TD Ameritrade.   They discuss: JJ's background in the options industry Highlights of the TD Ameritrade platform Platform upgrades How to avoid backtesting in a vacuum The Tradefinder application The Sizzle Index What is driving the decrease in volume After hours liquidity The rise in the use of futures and futures options Th...

In this episode, Mark is joined by Ben Londergan, Executive Managing Director of Options Trading and Technology at ConvergeX. They discuss: Ben's history in the options industry An overview of what NXP does and how it interacts with so much order flow throughout the day ConvergeX's multiple flow options The most popular of ConvergeX algos Portfolio margin tools The problem of attracting new market...

In this episode, Mark is joined by Jason Lichten, Director of Equity and Listed Derivatives Trading Strategies from Wolverine Execution Services. They discuss: Jason's take on Flash Boys and how RBC was portrayed (RBC is his former firm) What is Wolverine and what do they do? Market transparency in the equity and options markets Consolidation and simplification of the options market structure The...

Options Insider Interviews: Talking PACs, CTAs, and More with RCM Alternatives In this episode, Mark is joined by Bobby Schwartz, CEO of RCM Alternatives They discuss: What are all the areas of RCM Alternatives? The acquisition of Attain Captial Outreach to CTAs and hedge funds CME PAC What else is coming from RCM Alternatives? And more…

Options Insider Interviews: Talking Realized Volatility with VolX In this episode, Mark is joined by Bob Krause, CEO of VolX, the Volatility Exchange. They discuss: Updates on what is happening at VolX Looking at realized, not implied, volatility products The deal with BOX Enduring the regulatory process Trading realized volatility, with specifics Specifications and margins will mirror those of th...

In this episode of Options Insider Interviews, Mark is joined by Pat Fay, Director of Global Derivatives at Russell. They discuss: New volume records in Russell options The spread between Russell options and other benchmarks Who is using RVX options? The merger with the LSE The case for an exclusive listing And more

In this episode of Options Insider Interviews, Mark is joined by Gary Katz, CEO of the International Securities Exchange. They discuss: The third addition to the ISE family, ISE Mercury The use case for a third exchange Simplifying the exchange space, point and counterpoint Litigation with CBOE Technological advancements to mitigate risk and facilitate execution The role of the OCC in regulation a...

Options Insider Radio: Exploring the Mysteries of Margin with DTCC In this episode, Mark is joined by Ted Leveroni, Executive Director of Strategy at DTCC They discuss: Ted’s background in the financial industry What is DTCC? How does DTCC differ from OCC? The joint venture with Euroclear The complexities of movement of margin and collateral Improvements to the settlement process Margin questions...

Mark Sebastian recently attended the CBOE Risk Management Conference and brought along an audio recorder. In this edition, he caught up with Ben Londergan, Executive Managing Director and Head of Options Trading and Technology at Convergex. They discuss: The landscape of the exchange space Fragmentation of liquidity, and the resulting quotes Navigating the best execution landscape for their custom...

Options Insider Interviews: Catching Up with Andy Nybo Mark Sebastian recently attended the CBOE Risk Management Conference and brought along an audio recorder. Here’s his interview with Andy Nybo Head of Derivatives at the TABB Group. They discuss: Where is liquidity going? Where are the weaknesses in liquidity? Multiple exchanges and two models Does fragmentation help retail traders? Are asset m...

In this episode of Options Insider Radio Special Events, we sent Mark Sebastian on assignment to the CBOE’s 31st annual Risk Management Conference. He took an audio recorder with him and interviews ensued. This one is with Jason Ferrell, Managing Director at Gateway Partners. They discussed: What is Gateway Partners? What causes a red flag between the trading desk and the risk desk? How have regul...

Mark Sebastian was at the CBOE’s Risk Management Conference and he brought an audio recorder. Today’s feature is a discussion with Berlinda Liu, Director of Research & Development at S&P Dow Jones Indexes. They discuss: Parallel versus twisting moves in volatility futures Possible reasons for a move towards parallel shifts The S&P 500

In this episode, Mark is joined by Steve Crutchfield, Head of U.S. Options at NYSE. They discuss: The integration with ICE from an options perspective ICE Chat: message-based order tickets and execution Fragmentation of liquidity in the options space Penny pilot program: is it time to retire it? Technological failures: are they related to fragmentation? When do the benefits outweigh the risks for...

Options Insider Radio: A Year in the Life at BATS In this episode, Mark is joined by Jeromee Johnson, Vice President of Market Development and Head of Options at the BATS Exchange. They discuss: A year in the life of the BATS Exchange BATS + Direct Edge Where are growth opportunities? Will there be a second BATS options exchange? Complexity and fragmentation, and the consequences thereof What happ...

Options Insider Radio: Talking When to Trade, and When Not to, with Hedgeable In this episode, Mark is joined by Mike Kane, co-founder of Hedgeable. They discuss: What is Hedgeable? What sets them apart? The perception of options Their reactive approach to the market Capturing the upside, avoiding the downside How they use no market timing or predictions Their programs for customers Who are their...

In this episode, Mark is joined by Joy Rosenstein, Derivatives Business Development Manager at Fidessa. They discuss: The latest developments at Fidessa Automation of trading systems The Fragulator Migratory order flow and fee schedules Retail trading platforms SEFs and the swaps space Joy's take on Flash Boys And more

In this episode, Mark is joined by Dan Sacks from Actant. They discuss: What is Actant? Who uses it? The value-added services Actant provides What is top of mind for new Actant clients? Regulatory initiatives, risk management, and the race to zero Cost effective order flow routing The partnership with LiquidPoint And more

Options Insider Radio: Talking Vega Blocks, Complex Spreads and Delta Hedges with Flextrade In this episode, Mark is joined by Rob Brougan, Vice President of option sales at FlexTrade. They discuss: What FlexTrade does, and who their clients are Their volatility-oriented products How customers are using their vol products Rob’s reaction to Flash Boys Mini options and the lack of adoption What’s on...

Options Insider Radio: Talking Spreads, Cancel Fees, and the Death of Minis with ISE In this episode, Mark is joined by Gary Katz, CEO of ISE. They discuss: The addition of Gemini to the ISE family The unintended consequences of market expansion What happens when technology fails? Technology’s impact on spread orders Flash Boys The history of payment for order flow Mini options And more…