Posts in Exchange

The New Trump Tax Law And REITs

The new tax law goes into effect on January 1. People have a lot of questions. In Illinois, there are lines out the door at tax assessors offices to prepay property taxes. Personally, I was glad to see this subsidy …

Bitcoin Futures Are Coming. Are You Ready?

There are three ways to trade futures coming on Bitcoin.  The most under-reported one is Ledger X.  It’s not a true future, but a swap.  Technically they call it a SEF, or a “swap execution facility”.  Most of the time, …

The Long Term Stock Exchange

A new stock exchange is being started up and backed by Silicon Valley.  It gives more voting power to shareholders that hold their shares longer.  I wonder if this is solving a real problem or not?  IEX started and executes trades …

Calling All Fin Tech Startups!!!!

My friend and fellow former trader Alan Matthew of Tribal Ventures alerted me to this. It’s a good opportunity for fin tech startups to get some exposure to potential customers.  I don’t think this is a good opportunity to get …

Is the Future Direct Listing? IPO? ICO?

The NYSE petitioned the SEC to allow direct listing of stocks. The NASDAQ already allows this practice so it’s probably a fait accompli that the NYSE will be granted permission. Thanks to my friend Dan Ratner for bringing it to …

The Big Bank Bottom Line

One of the secrets people don’t know about the big banks is their cost of good sold.  It’s pretty large.  62% of revenue.  The WSJ reports the big banks are going to try and get together to cut $2B in …

Chicago Fin Tech Hackathon

The Capital One DevExchange is sponsoring a Hackathon featuring the Amazon Alexa team. On Saturday, March 25th, 2017, teams from all over Chicago will gather for an all-day workshop and hackathon in celebration of the new Capital One Café in …

Clearing is Centralized, and Concentrates Risk

One of the things blockchain might be able to do better is clearing.  Clearing of swaps especially.  Under Dodd-Frank, the government mandated a lot of swaps clearing.  Logically, this made sense.  I was initially in favor of moving plain vanilla …

Want To Start A Bank? You Might Have a Chance Now

We talk about how easy it is to start a software startup these days.  It’s cheap.  Two people in a garage.  Of course, academic studies have shown despite the ease, starting an entrepreneurial business is on the wane.  There are …

Bitcoin Trading Volume Falls Off A Cliff

The exchange space in Bitcoin has been interesting.  I have been observing it with a keen interest.  Exchanges have been interesting to me my entire life.  I was on the board of the worlds largest exchange.  Everyone thinks exchanges are …

10,000 Bitcoins For a Pizza

The first transaction in bitcoin was 10,000 bitcoins for a pizza.  Hope it was Chicago style.  It reminds me of the assignment Craig Wortmann gives students.  He has them barter a pen for a few weeks to see what they …

Before You Get Too Cheery About the “Trump Rally”

I subscribe to the Tastytrade newsletter and read it every morning.  I don’t always agree with them, but they always have some interesting ideas and things to think about.  Being an old trader, I always keep an eye on the …

Fees on Accounts-The Government Is Enabling A Shake Down

The Department of Labor recently changed regulations on how brokerage agencies can charge fees to accounts.  Remind me again why the Department of Labor is stepping into the relationship between a broker and customer again?  It’s another example of government …

Business Cards

Who likes business cards?   Every time I go to a meet up or a function, I come home with pockets full of them.  Usually, I can find people on LinkedIN or someplace else.  I don’t have a good process …

World Events and Fintech

A lot of folks are trying to figure out what Brexit means for Fin Tech.  London is a huge financial center and has a great Fin Tech community.  I think it’s a waste of time trying to figure out the …

Reasons Why Dodd-Frank Was a Horrible Law

Yesterday, I spent some time listening to academics speak about Dodd-Frank. I don’t think Americans really know how corrosive Dodd-Frank is. It’s killing our economic growth in ways that most people don’t understand. One thing I have noticed over the …

The Business Blockchain

My friend William Mougayer wrote a book called The Business Blockchain.  It’s a great book for anyone looking to understand what the whole Bitcoin thing is about.  I have blogged about Bitcoin in the past.  It’s highly interesting to me …