Nasdaq, NYSE Dealt Blow in Clash With SEC Over Market-Data Feeds

Nasdaq and the New York Stock Exchange were dealt a blow in their bids to block the Securities and Exchange Commission from implementing new rules for stock-trading data.

A decision by the US Court of Appeals for the District of Columbia Circuit on Tuesday not to review regulations the SEC passed in December 2020 allows the agency to move ahead with a push to make trading data more readily available. The changes could negatively impact exchange operators’ lucrative market-data businesses. The SEC and Nasdaq declined to comment. NYSE didn’t respond to a request. The court ruling is the latest twist in the years-long battle over exchanges’ data streams, which include information on market dynamics and certain types of transactions. The SEC unanimously passed the new regulations to push more of that information into so-called public data feeds, which are lower cost and more standardized. Stock exchange operators opposing the rules have argued they will result in greater information asymmetries and make the market more prone to disruptions. Meanwhile, the overhaul, which was a key part of the SEC’s effort to crack down on stock-market data during the Trump administration, has support from brokerages that say the platforms too much power over the information streams that are a lifeblood of modern trading.

The court’s decision may mean that “new players can enter the market, create competition, and potentially the price of market data will go down,” Bloomberg Intelligence analyst Larry Tabb said. “But prices could also go up, given there is nothing about what price the exchanges have to sell the data for,” he said. The regulation could reduce exchanges’ net data revenue by 8%, according to Bloomberg Intelligence calculations. Bloomberg LP, the parent company of Bloomberg News, is among firms that in the past have contested exchanges’ fee increases for private data feeds.

https://www.bnnbloomberg.ca/nasdaq-nyse-dealt-blow-in-clash-with-sec-over-market-data-feeds-1.1770528

They get paid to provide orders in the current system by kickbacks from the market makers so this "appears" to be dealing with thisBUTit is Gary Gensler (SEC and former CFTC Chairman and CFO for Hillary 2016 who authorized ALL the payments for all that shit you know all about) and until they disincentivize the whole fuggen thing (Spoofing etc) by charging them to place ALL orders so they can't pull them at the last minute-what that does it trick others into thinking there is moar book depth in whatever it is they are doing it in-they can obviously get around whatever regs they come up with to make it look like the data-feeds are moar "public"-if they are still spoofing does it really matter if it is "public" or not? methinks not.

>>135886

Blockchain-Friendly Georgia Welcomes Ripple — Large-Scale XRP Adoption Could Be Imminent

Ripple chief Brad Garlinghouse met with Georgia Prime minister Irakli Garibashvili and vice prime minister Levan Davitashvili during his trip to Davos, Switzerland.

Blockchain-Friendly Georgia Welcomes Ripple

According to a May 24 tweet, Ripple’s Garlinghouse discussed Georgia’s “vision on future of blockchain & regulation”. With an innovative approach, the tiny nation in the Caucasus aspires to become a fintech hub.

PM Irakli Garibashvili asked Garlinghouse to consider opening a corporate service center in Georgia, explaining that the country boasts favorable market conditions for the growth of cryptocurrencies. He also noted that his government has already formulated a draft legal framework for regulating digital assets. The legislation will be discussed with shareholders first before being sent to parliament for approval.

Georgia is notably a frontrunner in blockchain technology, having been the world’s first nation to integrate it into different areas of public administration — particularly the land registration process where costs are reduced by 30%. So far, Ripple has secured alliances with many major financial institutions and banks through its blockchain-based payments network RippleNet. With this in mind, as well as the success of Ripple’s tech, the San Franciso-based crypto startup may be prepping to establish itself as the blockchain infrastructure solution for Georgia. https://www.tradingview.com/symbols/XRPUSDT/

WTI Holds Gains After Small Gasoline Draw, Distillates Build

Oil prices are higher overnight following API's report of a small crude build and large gasoline draw and the ongoing geo-economic push-pull. "The oil market remains caught between fears of recession and the consequences of the zero-Covid policy in China on the one hand, and tight supply, especially of oil products, coupled with the prospect of US gasoline demand picking up during the summer driving season on the other," Commerzbank analyst Carsten Fritsch said in a note.

All eyes for now are on the official inventory data and any signs of demand destruction-been warning on that as eventually reality will catch up to it cause you can't have China as the #1 consumer of imported oil NOT have an affect on the price of it-you can by fuggin with the contracts (buying heavily) but eventually the cloud lifts and you will see that demand destruction.'''

The official DOE data showed a significantly smaller gasoline draw than API and also showed a slightly bigger than expected crude draw. This was still the 8th straight week of gasoline draws (and 15th of last 16 weeks). Distillate inventories rose by the most since Jan 2022. Crude stocks at Cushing, Oklahoma, have resumed their slide, falling for a third straight week and dropping below 25 million barrels again. Many traders think critical levels at Cushing are likely around the 22 million-barrel level, so this will be closely watched heading into the summer months. Gasoline stocks remain dramatically below normal for this time of year. US Crude production held at its recent highs as rig counts continued to rise. WTI was hovering just below $111 before the official data and held on to the gains after the mixed data. Notably Jet Fuel and Diesel prices have tumbled recently (the chart below shows per barrel equivalents) as refiners focused their attention on the higher margin cracks. Jet fuel yields and outright production rose to the highest level since February 2020 last week, suggesting jet is somehow winning the yield battle even with gasoline prices at record highs daily for the past few weeks and distillates inventories hovering near historic lows. With gasoline margins recently overtaking diesel, some refiners will likely soon go into max gasoline mode.

https://www.zerohedge.com/energy/wti-holds-gains-after-small-gasoline-draw-distillates-build

Natural gas surges above $9, hits the highest since 2008 as inventories stay low

Natural gas surged above $9 per million British thermal units, or MMBtu, on Wednesday, hitting the highest level in more than a decade as dwindling inventories push prices higher. U.S. prices surged more than 6% at one point to hit a high of $9.399 per MMBtu, the highest since August 2008. The move is the latest leg higher in what’s been a blistering rally for natural gas as Russia’s war on Ukraine sends energy markets reeling. David Givens, head of natural gas and power services for North America at Argus Media, pointed to three key catalysts fueling the rally: little production growth, high liquified natural gas exports, and storage levels that are roughly 17% below the five-year average. Rapidly rising prices are adding to inflationary pressures across the economy. Drivers are already grappling with record high prices at the gas pump, and now utility bills are set to increase too. While utility companies might have once switched to coal as a cheaper alternative, coal-fueled power is also now in short supply with a number of plants going offline due in part to ESG — environmental, social and governance — concerns. Campbell Faulkner, senior vice president and chief data analyst at OTC Global Holdings, said the drought in the Western U.S. has curtailed hydropower production.

″[G]as is being forced to fulfill a significantly greater portion of power burn during a summer that looks to top records for electricity load,” he said. “Gas for many years was the waste by-product of continued shale drilling across producing basins in the U.S. which kept prices unusually low. Since the 2020 low in drilling, the market has been pushed into a tight supply demand situation which will not be remedied quickly,” he added. Natural gas is now up nearly 30% in May, the third straight month when gains have topped 20%, and prices are now up around 150% for 2022. Some of Wednesday’s trading action could also be thanks to the futures contract’s expiration on Thursday-and this is exactly why the actual resource needs to be disconnected to the CME contract pricing structure-it's just traders pushing it around.

Still, the more actively traded contract for July delivery also sat above $9 on Wednesday.

The S&P energy sector gained more than 1% on Wednesday and is hovering around the highest level since November 2014.

https://www.cnbc.com/2022/05/25/natural-gas-surges-above-9-to-highest-since-2008-on-low-inventories.html

>>135804 pb

>Natural gas continues it's rise from yesterdays FERC supply fear pron. To $9 as predicted