THE DEFINITIVE SOUR CE FOR TR ADING NE WS
VOL XLVI ISSUE 5 MAY 2014
www.wallstreetletter.com
IN THIS ISSUE
News People moves04
Analysis Fee char t16
Feature Identity crisis: the global LEI is here18
MORE NEWS INSIDE
CBOE bumps up
margin for volatility
index options
The change is a move to set margin
requirements at more “appropriate”
levels for the contracts
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Cloud passes bar as a
security measure
Service providers are seeing
buy-side firms adopting cloud
infrastructure as a security layer
TURN TO PAGE 07
+
PLUS
Identity crisis:
The global LEI
is here
Kevin Cullen,
vice president of
SunGard’s XSP,
talks LEI issues
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18
TOP STORY
SIFMA to review
strike listing policies
BY JEANENE TIMBERLAKE
The equity market structure
committee of the Securities
Industry and Financial Markets
Association will take up a review
of strike listing procedures
across the different US options
exchanges, according to Ellen
Greene, vice president at SIFMA.
Her comments were part of a
presentation to attendees at the
Options Industry Conference in
Austin, Texas last week.
She noted the issue was
recently raised by members who
expressed confusion and frustration about the process.
“I think as we look at it we recommend this is an area where
there could be a uniform rule
set created because we think it
would really benefit the industry,” she added.
Such a change could have a
positive impact on corporate
actions among other areas, she
said, citing the recent stock split
that create a class of non-voting
shares. “That caused some confusion in the industry,” she added.
In a separate panel discussion, Dan Perper, managing
director of proprietary trading at Peak6 Investments, told
attendees new strikes
aren’t always welcome
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TO
because the costs can
PAGE
outweigh the benefits
03
for market makers.
V I S I T WA L L S T R E E T L E T T E R . C O M F O R U P - TO - T H E - M I N U T E I N V E S T M E N T N E W S