The Small Exchange announced plans to launch its first options contract on Small Precious Metals Product (SPRE) index futures on January 25, 2022. I interviewed Small Exchange CEO Donnie Roberts about the new product, Small Exchange’s plans for future options contracts, and the impending deal for the exchange to be acquired by Crypto.com.    The SPRE index is made up of gold, silver and platinum prices, with the largest weighting on gold, then silver, Roberts said. The new options contracts will be cleared at the OCC, same as The Small Exchange’s futures contracts.   Roberts said they have two market makers in place for the new options contracts, and the exchange and OCC have done six months of testing to prepare for the launch.   Here is my interview with Donnie Roberts of the Small Exchange.

This is John Lothian

Small Exchange SPRE Options to Launch January 25, 2022

I wrote this column in 2012 for the John Lothian Newsletter after the death of my friend and Assistant Scoutmaster Bill Griswold. Reflecting on his life of giving, I reflected on all the giving of the readership of the John Lothian Newsletter over the years.  Here is the commentary from 2012. ~John Lothian

The Richness of Giving - A John Lothian Commentary from 2012 -John Lothian News

When my son Tim was ten, he came home from school one day and told us at the dinner table about his day touring the middle school with his grade school class. After he finished explaining about Bryan Middle School in Elmhurst, which he would be attending next year, I told him it was a waste of his time. I told him his mother and I had decided to send him to Hogwarts, the school Harry Potter attended. He smiled and said, “Right, Dad.” This is the story of how some other parents and i pranked out sons into thinking they were going to Hogwarts.  

Harry Potter - Sending My Oldest Son and His Friends to Hogwarts

This Is John Lothian: Making the Trade

The number of cases of coronavirus doubled in the US. in two day. And worldwide cases doubled in the last twelve days, from 100,000 to 200,000. In the US, they are spiking and in New York City alone there are now 4000 cases. The number of unemployment claims is growing even faster c, though the White House does not want states to reveal their numbers. And the calls for Sen. Richard Burr from North Carolina to resign are growing even more. He might be the least popular Burr since his relative Aaron, who as we know had a run in with treason himself. Major hospitals are reported to be running short of supplies]], medical professionals are starting to improvise and more car companies are saying, “Heck yes, we can make ventilators.” That great big sucking sound you hear should be new ventilators being made, but it is instead the sound of a cratering economy.  In California, the Governor said normal unemployment claims are 2000 a day; then three days ago there were 40,000 and the next day 80,000. I have two offspring whose jobs are on hold as their schools closed. I have another son coming home from college as it moved online and he is being kicked out of the dorms. And how bad is it in California? The Governor says he expects half of the state to get the virus in the next eight weeks. And he is shutting down the state and telling everyone to stay at home.  Cboe Global Markets, Inc. launched a webpage with their business continuity plans amid the developing novel coronavirus (COVID-19) situation. It is a popular thing to do, as everything right now is centered around flattening the curve and surviving the impact of the virus. The CTAExpo/Emerging Manager Forum New York to be held on April 22-23, 2020 at the Stewart Hotel has been cancelled. Many hotels across the country are closing, which is impacting events (duh!) and even necessary travel for those trying to get back home (Hi Mom!). Even the G7 meeting scheduled for April was cancelled when Camp David put out the “Closed for the Virus” sign. Richard Burr, the chairman of the Senate Intelligence Committee, is accused of telling a gathering of big wig business leaders from North Carolina the dire predictions about the impact of the virus and selling $1.7 million in stock while downplaying the virus to the public. ProPublica, a non-profit newsroom broke the story. The sales of stock came on February 13, at a time when he was receiving briefings on the virus. Monday would be a good time for him to resign. I leave you with a quote from Ronald Reagan, courtesy of OCC’s David Prosperi: “No crisis is beyond the capacity of our people to solve, no challenge too great.”

This is John Lothian: March 20 Hits and Takes

This is the story of open outcry trading, electronic trading and an imaginary secret organization I created to tell the story of both. This was the first time I used SPET, or the Society for the Promotion of Electronic Trading, to tell a story.

EP 2: A Fictional Account of the Results of Supporting Open Outcry

Before the CME went public in 2002, there was a change in leadership at the top. Terry Duffy ran for the job of chairman of the board against the incumbent, Scott Gordon. I was a fan of Gordon’s and then CME  CEO Jim McNulty. McNulty was one of the reasons I started the John Lothian Newsletter. He had helped me find a job when I first graduated from Purdue University. He was for a short time one of my mentors. But then I started my career and he started traveling the world as an investment banker and I lost track of him.

EP 1: Lunch with the New CME Chairman Terrence Duffy

A podcasts based on old commentaries John Lothian wrote before 2003.

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This is John Lothian

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