Futures Discovery is an innovative educational series hosted by a young professional navigating the complex world of futures markets.

In episode 3 of Futures Discovery, we’re delving into the dynamic world of Energy Futures. Fasten your seatbelts as we explore the complexities and nuances of this ever-shifting landscape in today’s episode: ‘Powering Through Energy Futures: A Quantitative Perspective.’ To get a more insightful view, we’re talking with Joe Raia. Joe currently holds the position of Chief Commercial Officer at Abaxx Exchange, with a wealth of experience in the energy futures industry. 24:59
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Powering Through Energy Futures: A Quantitative Perspective: Futures Discovery EP 3

In this episode of “Futures Discovery,” we venture into the realm of clearinghouses, commonly referred to as Central Counterparties (CCPs). These pivotal financial market infrastructures are instrumental in ensuring the smooth operation and resilience of the global financial landscape. Join Corties Draper, our “Futures Discovery” host, as he unravels the essential functions of CCPs and their crucial role in futures exchanges. Included in this episode is Corties’ interview with our subject matter expert, John McPartland of Hidden Road Partners, who talks about the function and purpose of clearinghouses. 20:03
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Clearing the Way: The Essential Role of Clearinghouses in Futures Exchanges: Futures Discovery EP 2

In episode 4 of Futures Discovery, we’re diving into the diverse world of careers within the futures industry. From the fast-paced world of trading to the analytical realms of risk management and technology, there’s a multitude of career paths in this dynamic field. Today we’re delighted to have Dan Pires on the show. Dan is currently serving as the Head of Trading Options at Akuna Capital, bringing over a decade of experience in the financial industry, particularly in the dynamic realm of trading. Today’s focus revolves around various career paths within the futures industry, a subject Dan is well-equipped to explore given his extensive background as a Senior Trader at Akuna Capital and notable roles throughout the industry. 17:11
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Careers in the Futures Industry: Futures Discovery EP 4

Short on Customer Protection at NFA 0:41
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Futures Discovery - EP 6 - Customer Protection - NFA

Short on Meeting Regulatory Responsibilities - NFA 0:57
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Futures Discovery - Meeting Regulatory Responsibilities - Short

Spoofing in futures trading is a deceptive and illegal practice that undermines market integrity. Here's what you need to know: ## What is Spoofing? Spoofing involves placing fake orders to create a false impression of market demand or supply. Traders use this tactic to manipulate asset prices and influence other market participants' decisions[3]. ## Impact on Futures Markets • Distorts market data and price movements • Reduces liquidity and widens bid-ask spreads • Complicates price discovery • Increases risk for clearing houses • Hinders hedgers' decision-making ## Legal Consequences Spoofing is a federal crime with severe penalties: • Up to 10 years in prison • Fines up to $1 million per violation ## Combating Spoofing • Enhanced surveillance by regulators and exchanges • Trader vigilance and reporting of suspicious activities • Ongoing legal efforts to maintain market integrity For more insights, tune in to our interview with legal expert Renato Mariotti Futures Discovery Ep 17, Part 2. #FuturesTrading #MarketIntegrity #TradingEthics #FinancialRegulation#FuturesDiscovery #LegalInsights #FinancialMarkets 3:09
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Futures Discovery: Why spoofing is a futures trading crime (Intro Ep 17 Part 1)

JLN's guest expert David Klotz from MetroTrade explains how to set up career success in futures trading. #careerguidance #financecareers #futurestrading #FuturesDiscovery 1:52
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Unleash Your Potential For Futures Trading Success Today With MetroTrade's David Klotz

Block trades are a cornerstone of futures markets, represented by large-scale transactions executed off the public auction system. In this full Episode 18 of Futures Discovery, Arthur Bass of Wedbush Securities talks with Corties Draper about the advantages of block trades, including privacy and access to larger liquidity, as well as the regulatory oversight and transparency measures in place. In this episode you'll discover how block trades impact market dynamics, risk management strategies, and the challenges faced by regulators in overseeing these transactions. Futures Discovery is sponsored by Miax. #BlockTrades #FuturesMarkets #FinancialMarkets #TradingStrategies #MarketLiquidity #liquidity #transparency #riskmanagement #regulatoryoversight ***** Block Trades provide a discreet avenue for significant market participants to maneuver substantial positions without the immediate impact on market prices typically seen in open outcry trading. Today, we're peeling back the layers of block trades, uncovering their nuanced dynamics, and exploring their pivotal role in the futures market ecosystem. Block trades are distinguished by their size and the discretion involved in their execution. These transactions allow for institutional investors and large traders to buy or sell sizable quantities of contracts without disturbing prevailing market prices. This capability to operate discreetly can be advantageous, particularly when managing substantial positions by executing large orders swiftly. Regulatory oversight plays a pivotal role in mitigating risks associated with block trades. Exchanges and regulatory bodies enforce stringent guidelines to ensure these transactions adhere to market rules and do not unduly impact price discovery mechanisms. This regulatory framework aims to balance the need for transactional discretion with the imperative of maintaining transparent and orderly markets. Direct negotiation in block trade involves direct interaction between counterparties, often leading to negotiated prices that may differ from prevailing market rates. This process requires careful management to ensure fair market value is achieved, preventing any potential for market abuse or unfair advantages. Moreover, the sheer size of block trades introduces unique risks, particularly credit risks, dealing with a singular counterparty in these transactions necessitates rigorous credit assessments to mitigate the potential fallout from default or non-performance. Additionally, block trades can influence market liquidity dynamics. While they offer a mechanism for executing large trades efficiently, their absence from the public market can impact overall liquidity, potentially hindering small traders from executing orders promptly. Reports about the misuse of block trades highlight ongoing challenges in market oversight. The scale and discretion of these transactions make them susceptible to misuse for purposes of market manipulation or insider trading, necessitating vigilant monitoring and enforcement by regulatory authorities. As the futures market continues to evolve, understanding the intricacies of block trades remains essential for all participants, from institutional investors to individual traders. To gain deeper insights into the dynamic world of block trades, let's talk to Arthur Bass, current managing director at Wedbush Securities, with a wealth of experience in the financial industry. Arthur has also previously served as a managing director at Coex Partners and NewEdge, bringing over two decades of experience to our discussion. 00:00:00 - Introduction 00:00:18 - Overview of Block Trades 00:01:21 - Regulatory Oversight of Block Trades 00:01:47 - Direct Negotiation in Block Trade 00:02:08 - Risks in Block Trades 00:02:25 - Block Trades and Market Liquidity 00:02:44 - Misuse of Block Trades 00:03:29 - Interview with Arthur Bass 00:03:54 - Advantages of Block Trades 00:05:49 - Transparency and Fairness in Block Trades 00:08:07 - Process of Block Trades 00:09:24 - Risk Management in Block Trades 00:10:55 - Impact of Block Trades on Market Liquidity 00:13:08 - Regulatory Challenges in Block Trades 00:14:11 - Advice for Young Investors 00:15:07 - Conclusion 15:43
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Block trades in futures markets explained: Futures Discovery Ep. 18

What are the crimes in futures trading? Spoofing is one - it is a deceptive and illegal practice that undermines market integrity. This full Episode 17 of Futures Discovery includes insights from legal expert Renato Mariotti on spoofing. Here's what you need to know: ## What is Spoofing? Spoofing involves placing fake orders to create a false impression of market demand or supply. Traders use this tactic to manipulate asset prices and influence other market participants' decisions. ## Impact on Futures Markets • Distorts market data and price movements • Reduces liquidity and widens bid-ask spreads • Complicates price discovery • Increases risk for clearing houses • Hinders hedgers' decision-making ## Legal Consequences Spoofing is a federal crime with severe penalties: • Up to 10 years in prison • Fines up to $1 million per violation ## Combating Spoofing • Enhanced surveillance by regulators and exchanges • Trader vigilance and reporting of suspicious activities • Ongoing legal efforts to maintain market integrity #futurestradingforbeginners #MarketIntegrity #TradingEthics #FinancialRegulation 00:00:00 - Introduction 00:00:17 - Understanding Spoofing 00:00:43 - Effects of Spoofing on Trading 00:01:41 - Legal Consequences of Spoofing 00:02:23 - How to Combat Spoofing 00:02:51 - Interview with Renato Mariotti 00:03:38 - Explanation of Spoofing 00:05:22 - Legal Challenges and Efforts to Combat Spoofing 00:05:48 - Detecting Spoofing Patterns 00:09:30 - Impact of Spoofing on Market Integrity 00:11:32 - Spoofing Risk for Clearinghouses 00:12:50 - Legal Penalties for Spoofing 00:16:02 - Evolution of Spoofing Practices 00:16:54 - Awareness and Changes in Spoofing 00:18:40 - Importance of Collaboration in Combating Spoofing 00:19:52 - Advice to Avoid Spoofing Allegations 00:22:17 - Advice for Aspiring Legal Professionals 00:23:30 - Closing Remarks and Future Content 24:06
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Spoofing is a futures trading crime: Don't do it!

This full episode 16 of Futures Discovery is a guide to selecting a broker for futures trading. Corties Draper and JLN's guest expert David Klotz from MetroTrade explain the essential factors for choosing the right futures trading broker. These include understanding regulatory compliance, fee structures, platform functionality, account requirements, customer service, execution speed, and more. Get expert insights to make an informed decision and set yourself up for trading success. #FuturesTrading #BrokerSelection #TradingTips #FinancialMarkets #InvestmentStrategy 00:00:00 - Introduction 00:00:18 - Choosing the Right Broker 00:04:42 - Interview with David Klotz 00:05:07 - Understanding the Role of a Broker 00:07:53 - Importance of Regulatory Compliance 00:09:13 - Key Regulatory Bodies 00:11:38 - Understanding Broker Fees 00:15:18 - Understanding Broker Fees 00:16:34 - Essential Features of a Trading Platform 00:18:43 - Importance of Customer Service 00:20:05 - Importance of Fast Execution Speed 00:21:31 - Value of Educational Resources 00:23:56 - Advice for Aspiring Professionals 00:25:31 - Closing Remarks 26:07
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Your Guide to Selecting a Broker for Futures Trading: Essentials from Futures Discovery

In Episode 15 of Futures Discovery (intro only), Corties Draper, host of JLN's Future Discovery, explores the impactful world of circuit breakers in futures trading by discussing their historical evolution, current impact, and role in market stability. Stability of the futures market was aided by the creation of time-based halts and circuit breakers, tools concept that gained prominence after the stock market crash of 1987, also known as Black Monday. 5:30
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The 1987 Stock Market Crash: How It Sparked Circuit Breakers And Time-based Halts

In Episode 15 of Futures Discovery, Corties Draper, host of JLN's Future Discovery, explores the impactful world of circuit breakers in futures trading by discussing their historical evolution, current impact, and role in market stability. Stability of the futures market was aided by the creation of time-based halts and circuit breakers, tools concept that gained prominence after the stock market crash of 1987, also known as Black Monday. The second part of this episode features insights from Bill Brodsky, chairman of Option Solutions, on the development and implementation of circuit breakers. Discover how these mechanisms protect against market volatility and maintain financial stability. 00:00:00 - Introduction 00:00:28 - The Fundamentals of Circuit Breakers 00:00:39 - Historical Foundations of Circuit Breakers 00:01:25 - Time-Based Halts and Tiered Levels 00:02:09 - Collaboration in Financial Markets 00:02:30 - Current Role of Circuit Breakers 00:03:06 - Circuit Breakers in U.S. Markets 00:03:53 - Circuit Breakers During Market Crises 00:04:18 - Debates on the Effectiveness of Circuit Breakers 00:05:00 - Interview with Bill Brodsky 00:05:56 - Significance of Circuit Breakers 00:10:15 - Introducing Circuit Breakers in Futures Market 00:10:26 - Challenges in Implementing Circuit Breakers 00:12:23 - Boosting Confidence with Circuit Breakers 00:13:35 - Impact of Circuit Breakers on Market Outcomes 00:14:43 - Global Adoption of Circuit Breakers 00:15:39 - Innovative Techniques and Mechanisms in the Industry 00:17:00 - Lessons Learned and the Importance of Collaboration 00:17:47 - The Role of Market Leaders and Continuous Education 00:19:07 - Advice for Aspiring Individuals in the Industry 00:20:18 - Conclusion and Appreciation 20:57
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Ensuring Futures Market Stability: The Power Of Circuit Breakers And Time-based Halts

Explore equity indices speculation and equity index futures with Corties Draper and Megan Morgan from Belvedere Trading. Learn about speculating on indices like the S&P 500 and NASDAQ 100, quantitative trading challenges, and the importance of indices as economic benchmarks. Discover insights on building successful indices, market growth, and advice for aspiring traders in this comprehensive discussion on financial futures and market structure. Sponsored by Miax. #EquityIndexFutures #QuantTrading #FinancialMarkets #TradingStrategies #MarketStructure 00:00:00 - Introduction to equity indices speculation aka Equity Index Futures 00:00:58 - Role of Quantitative Trading in Equity Index Futures 00:01:46 - Importance of Data in Trading 00:02:17 - Understanding Market Dynamics 00:02:43 - Understanding Volatility in Futures Trading 00:03:14 - Navigating the Trading Maze 00:03:39 - Interview with Megan Morgan 00:03:59 - Significance of Equity Index Futures 00:06:04 - Challenges in Building New Indices 00:08:42 - Megan's Approach to Equity Index Futures 00:10:15 - Building Successful Markets 00:12:56 - Role of Quantitative Trading in Future 00:15:15 - Exploring the Exciting Aspects of the Trading Industry 00:16:04 - Advice for Aspiring Individuals in the Financial Space 00:16:19 - Importance of Exposure in Early Career 00:18:08 - Closing Remarks and Further Learning Opportunities 18:47
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Equity Index Futures Vs. Equity Indices Speculation: Demystified!

Welcome to futures contracts for beginners, Futures Discovery Episode 1, the first video in a program designed for young finance professionals produced by John Lothian News and sponsored by MIAX. This full episode includes the entire interview with Joseph W. Ferraro III who is president of MIAX Global Derivatives, LLC, among other roles with MIAX. The series is hosted by Roosevelt University student Corties Draper and is designed to educate young people about futures trading from a peer's perspective. Draper, a CBOT Clearing Corporation Foundation Honors Fellow and captain of the Roosevelt football team, brings his unique insights and quantitative skills to the show. Futures Discovery is part of JLN’s new futures-centric video series called “Today’s Futures Markets.” Additional programs are in development for Today’s Futures Markets, including one hosted by John Lothian called “Growing Markets.” #FutureDiscovery #JohnLothianNews #FuturesTrading #FuturesContracts #Derivatives #Hedging #Speculation #FinancialMarkets #tradingstrategiesJoe Ferraro From Miax Global Derivatives 00:00 Introduction 00:29 What is a futures contract 00:44 What is a derivative 02:31 What is a contract 03:12 Spot price 03:46 Short selling 08:02 Interview with Joe Ferraro of Miax 23:57
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Full Episode: Futures Contracts For Beginners In Premiere Episode Of Futures Discovery

Welcome to futures contracts for beginners, Futures Discovery Episode 1. This is the first video in a program designed for young finance professionals produced by John Lothian News and sponsored by MIAX. The series is hosted by Roosevelt University student Corties Draper and is designed to educate young people about futures trading from a peer's perspective. Draper, a CBOT Clearing Corporation Foundation Honors Fellow and captain of the Roosevelt football team, brings his unique insights and quantitative skills to the show. Futures Discovery is part of JLN’s new futures-centric video series called “Today’s Futures Markets.” Additional programs are in development for Today’s Futures Markets, including one hosted by John Lothian called “Growing Markets.” “We are excited to have Corties on the JLN team and have him work on developing the story of futures trading for his peers,” said John J. Lothian, Publisher of John Lothian News. This is the intro video. Watch the full Futures Discovery Episode 1 to hear the full interview with Joseph W. Ferraro III who serves as President, MIAX Global Derivatives, LLC, among many other roles with MIAX. #FutureDiscovery #JohnLothianNews #FuturesTrading #FuturesContracts #Derivatives #Hedging #Speculation #FinancialMarkets #TradingStrategies 8:17
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Introduction To Futures Contracts For Beginners In Premiere Episode Of Futures Discovery (intro)

Dive into seasonality's impact, rolling contracts, and the crucial forward curve in this intro to Episode 12 of Futures Discovery. Understand how global dynamics and trade policies shape markets. Learn about quantitative trading strategies, from data analysis to mathematical modeling. Discover how nature's rhythm and global markets intertwine in the full Episode 12 of Futures Discovery, which includes an insightful interview with Jack Scoville, current Vice President of Price Group. #AgriculturalFutures #QuantTrading #ForwardCurve #SeasonalTrading #GlobalMarkets #FuturesTrading #CropReports #MarketAnalysis #TradingStrategies #JackScoville #FuturesDiscovery 19 minutes ago (edited) 00:00 Introduction 00:41 Seasonality 00:57 Rolling contracts 01:11 Forward curve 01:44 Cost of carry 02:07 Assessing profitability 03:29 Introducing Jack Scoville, VP of Price 3:50
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Discover Rolling Contracts, Forward Curve Analysis & Ag Futures Trading With Jack Scoville (intro)

Discover the exciting world of futures trading careers in Episode 5 of Futures Discovery. Join host Corties Draper as JLN explores diverse roles - from traders and commodity brokers to market makers and risk analysts. Learn about compliance, market analysis, and the tech powering the industry. Watch the full episode that includes a conversation with Dan Pires, currently Head of Trading Options at Akuna Capital, who shares insider insights! #FuturesTrading #FinanceCareers #MarketMakers #RiskManagement #QuantAnalysis #FinTech #PrettyTrading #CommodityBrokers #ComplianceJobs #TradingTech 3:10
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Uncover The Top Jobs In Futures Trading!

Futures Discovery, Episode 11, unravels the complexities of order book strategies, from basic limit and market orders to sophisticated VWAP and sniping algorithms. In this episode, host Corties Draper learns how powerful order book strategies shape financial markets and impact trading decisions. Episode 11 explores the challenges of algorithmic trading, including market manipulation risks and transparency issues. This is an intro to the full episode, which features an interview with industry expert Brian Peterson, managing member of Windy Financial and Braverock Investments. #FuturesTrading #AlgorithmicTrading #OrderBookStrategies #LimitOrders #MarketOrders #VWAP #SnipingAlgorithms #TradingStrategies #FinancialMarkets #MarketRisks #BrianPeterson #BraverockInvestments 3:32
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Mastering Order Book Strategies In Futures Trading: A Beginner's Guide

Futures Commission Merchants (FCMs) are essential intermediaries in futures and options trading, handling orders, managing accounts, providing market insights, and ensuring regulatory compliance. This episode of Futures Discovery explores FCMs' crucial role in maintaining market integrity and facilitating smooth operations in derivative markets. The full-length episode features a conversation with Bob Fitzsimmons, Executive Vice President at Wedbush Securities. #FuturesTrading,#FCM,#DerivativesMarket,#FinancialIntermediaries,#Marketintegrity,#TradingEducation,#FinancialRegulation,#FuturesDiscovery,#johnLothianNews 3:17
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The Crucial Role Of Futures Commission Merchants (FCMs) In Futures And Options Trading

In Episode 9 of Futures Discovery, JLN host Corties Draper unravels the enigma of contango. Learn why future commodity prices can be higher in the distant future, understand the costs of holding physical assets, and discover strategic implications for traders. Whether you're a seasoned investor or new to futures markets, this episode of Futures Discovery offers valuable insights into contango, backwardation, and their impact on trading strategies. Our extended Episode 9 includes insider tips from Clive Furness of Contango Markets. #FuturesTrading #Contango #CommodityMarkets #InvestmentStrategies #FinancialEducation #TradingTips #MarketAnalysis #FuturesDiscovery Clive Furness, Contango Markets. 2:30
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Unraveling The Mystery Of Contango: Why Future Commodity Prices can Be Higher In The Distant Future

Episode 8 of Futures Discovery discusses contango and backwardation trading strategies and cost of carry. For futures traders, understanding the cost of carry is fundamental to making informed trading decisions. The cost of carry in futures trading refers to the expenses incurred for holding a futures contract over time, including interest rates, storage costs, and other factors. In this blog post, we’ll explore the intricacies of cost of carry and how it impacts futures pricing dynamics. Futures markets can exist in two states: contango and backwardation. These scenarios are determined by the relationship between spot prices and futures prices. The extended version of Episode 8 Futures Discovery includes an interview with Pat Hillegas, an independent trader, who shares his insights. #FuturesTrading #CostOfCarry #CostOfCarry #FuturesPricing #TradingStrategies #MarketArbitrage #FinancialMarkets #FuturesContracts 2:44
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Contango And Backwardation Trading Strategies: Why Cost of Carry Matters to Traders

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Futures Discovery is an innovative educational series hosted by a young professional navigating the complex world of futures markets.

Designed to make financial education accessible and engaging, the show follows its host as they explore different topics, break down complex concepts into digestible basics, and then dive deeper through interviews with industry experts.

By featuring a peer-driven learning approach, Futures Discovery provides younger viewers with a relatable and approachable pathway to understanding futures trading, bridging the knowledge gap between academic learning and real-world market insights through the lens of a fellow learner’s journey of discovery.