​The Chicago Chapter of QWAFAFEW Presents:
Market Timing, Big Data and Machine Learning

Overview
There is a stigma against market timing. This stigma existed for good reasons, but the explosion of vast data sets and new analytical techniques has now made timing the market possible. Just as it was considered irresponsible to time the market over the last 30 years, it will be considered irresponsible NOT to time the market in the next 30 years.

Speakers:
Blair Hull
Chairman, Hull Investments, LLC
and
Matthew Dixon
Assistant Professor of Finance at the Illinois Institute of Technology and the founder of Quiota LLC

Date: Thursday, September 22, 2016
Time: 5:00 p.m. - 7:00 p.m.
Venue: To be announced shortly in downtown Chicago

For more information and registration Click Here

There will be light food, drinks and networking until the presentations starts at 5:30pm.

About QWAFAFEW: (pronounced “quaff-a-few”, Quantitative Work Alliance for Applied Finance & Economic Wisdom) is an informal organization for discussions of quantitative investment topics.  QWAFAFEW has active chapters in Chicago, Boston, Hartford, New York, Princeton, Denver, and San Francisco.

Summary

• Over the past week the VSTOXX / VIX spread narrowed and then widened as the EURO STOXX 50 Index declined.
• A one and two standard deviation move would price the spread between 8.8 and 12.5.
• As a sentiment indicator could an overbought VSTOXX / VIX spread imply at least short-term support in the EURO STOXX 50 Index & the S&P 500?

My recent article " VSTOXX / VIX Spread May Imply An Equity Correction" discussed some of the basics of the spread and potential signals it may offer about the underlying EURO STOXX 50 index and the S&P 500 index. I received a lot of positive feedback and demand for this analysis, so I will be updating the spread data and analysis on a regular basis. Think of the spread as  
​READ MORE
 
Follow Mark Shore on Twitter, Facebook and Linkedin

Copyright ©2016 Mark Shore. Contact Mark Shore for permission for republication at [email protected] Mark Shore has more than 25 years of experience in the futures markets and managed futures, publishes research, consults on alternative investments and conducts educational workshops.www.shorecapmgmt.com 

Mark Shore is also an Adjunct Professor at DePaul University’s Kellstadt Graduate School of Business, where he teaches the only known accredited managed futures course in the country. He is also a Board Member of the Arditti Center for Risk Management at DePaul University.

Past performance is not necessarily indicative of future results. There is risk of loss when investing in futures and options. Futures and options can be a volatile and risky investment; only use appropriate risk capital; this investment is not for everyone. The opinions expressed are solely those of the author and are only for educational purposes. Please talk to your financial advisor before making any investment decisions.
​

Summary

• The pricing of the $VIX futures back months have remained relatively stable as the front months recently declined.
• The longer the spot and front month remain at the lows, the higher the probability for a correction in $SPX.
• The current state of the forward curve may be giving clues to the "shape of things to come".

Recently the market has discounted equity declines with the focus
READ MORE

Follow Mark Shore on Twitter, Facebook and Linkedin

Copyright ©2016 Mark Shore. Contact Mark Shore for permission for republication at [email protected] Mark Shore has more than 25 years of experience in the futures markets and managed futures, publishes research, consults on alternative investments and conducts educational workshops.www.shorecapmgmt.com 

Mark Shore is also an Adjunct Professor at DePaul University’s Kellstadt Graduate School of Business, where he teaches the only known accredited managed futures course in the country. He is also a Board Member of the Arditti Center for Risk Management at DePaul University.

Past performance is not necessarily indicative of future results. There is risk of loss when investing in futures and options. Futures and options can be a volatile and risky investment; only use appropriate risk capital; this investment is not for everyone. The opinions expressed are solely those of the author and are only for educational purposes. Please talk to your financial advisor before making any investment decisions.

NIBA (The Forum for Derivatives Professionals) Presents:

NIBA 25th Anniversary Chicago Conference

This One-day program for Derivatives Professionals will focus on business growth, and include the annual NFA IB and CTA Representatives Report to the Membership.

The annual NIBA Chicago conference is the pinnacle event of the year for our association. This year we come together not only for another great conference but also in celebration of our 25th anniversary. This year promises to be better than ever. Speakers range from industry professionals, TV personalities, subject matter experts, and regulators.

Members in attendance will be eligible to participate in this year's iPad Raffle. In addition, Exchange Analytics will be providing complimentary AML and Cybersecurity Training to attendees (limited supply).

There is no cost for NIBA Members to attend the forum which includes an Exhibit Hall, Lunch and a Networking Reception.
 
Topics Include
Compliance Panel
Managed Futures Panel
Compliance Debate
Lunch Speaker: CME Economist
CME GCC Presentation
NFA Rep Panel
FINTECH Panel 
Business Development Panel

Date: Wed Sept 14th
Time: 8am to 5pm
Venue: CME Group World Headquarters
 
Cocktail reception immediately following the event
 
For more information and registration click here
 
About the NIBA
Established in 1991- the National Introducing Brokers Association (NIBA) is one of the foremost, national recognized organizations representing professionals in the future and options industry. Our members include Introducing Brokers, Commodity Traders Advisors, Futures & Options Exchanges, Futures Commissions Merchants and resource providers to the industry.

Summary

• The VSTOXX / VIX spread tends to widen when the volatility indexes rally and equity markets decline.
• The longer the volatility indexes sit at their lows and the spread sits near its average (low), the greater the probability for the equity markets to experience a correction.
• Currently the VSTOXX / VIX spread is narrowing from an overbought range.

As I'm sure many of you are familiar with the VIX ($VIX) volatility index that measures the market's perspective of implied volatility 30 days into the future. The index is found at the CBOE. It is also known as the "fear index" as it tends to rally when the S&P 500 declines (downside volatility).
​
There is another lesser known, but growing volatility index called VSTOXX found at the Eurex Exchange.  READ MORE

​Follow Mark Shore on Twitter, Facebook and Linkedin

Copyright ©2016 Mark Shore. Contact Mark Shore for permission for republication at [email protected] Mark Shore has more than 25 years of experience in the futures markets and managed futures, publishes research, consults on alternative investments and conducts educational workshops.www.shorecapmgmt.com 

Mark Shore is also an Adjunct Professor at DePaul University’s Kellstadt Graduate School of Business, where he teaches the only known accredited managed futures course in the country. He is also a Board Member of the Arditti Center for Risk Management at DePaul University.

Past performance is not necessarily indicative of future results. There is risk of loss when investing in futures and options. Futures and options can be a volatile and risky investment; only use appropriate risk capital; this investment is not for everyone. The opinions expressed are solely those of the author and are only for educational purposes. Please talk to your financial advisor before making any investment decisions.

CTAEXPO LLC Presents:
​CTA Expo 2016 Chicago

CTA Expo is designed to provide CTA’s and FX Traders the foundation of knowledge they need from both an operational and marketing perspective to raise AUM, and the opportunity to network with Family Offices, Professional Capital Raisers, Individual Investors, Allocators and IRA’s looking to identify trading talent as a source of Alpha. 

CTA Expo also offers speakers on how managers can grow their business, gain access to capital sources, and how allocators can more effectively manage their portfolios. 

The Agenda and Speakers Include: 
​CONFERENCE CHAIRMAN 
Ian Morley Wentworth Hall Consultancy
Welcoming Remarks
Bucky Isaacson and Frank Pusateri (CTA Expo LLC)
 
EMERGING MANAGER SELECTION... WHAT INVESTORS LOOK FOR
Different types of investors look for different characteristics in the managers they invest in.
MODERATOR:
Tim Pickering (CEO - Auspice Capital Management)
PANELIST:
Ernest Jaffarian (CEO - Efficient Capital Management, LLC.)
Ole Rollag (Managing Principal - Murano)
Dimitri Sogoloff (CEO - Horton Point, LLC.)
 
MEDIA… DOES IT WORK? & HOW TO USE IT TO BUILD AUM
Emerging managers often overlook the importance of using the media as an effective marketing tool.
Matthias Knab (FOUNDER - Opalesque Ltd)
 
Cyber Security and its Effect on Investors, Managers and Global Markets
Paul Caiazzo (CEO - TruShield Security Solutions, Inc)
 
GROWING YOUR AUM… HOW BROKERS CAN HELP
Before a manager selects a broker they should consider more than commission rates. MODERATOR:
Buck Haworth (CEO - Born Technology)
PANELIST:
Eric Eiers (ADM Investor Services, Inc)
John Hyde (Wells Fargo)
Robert Cihlar (Dorman Trading LLC)
 
KEYNOTE CONVERSATION
Phupinder Gill and Bucky Isaacson will discuss the state of the Managed Futures Industry, the CME Groups efforts to help that segment of the Alternative Financial Community continue to grow and an overview of where the CME is at and what they expect in the future
PHUPINDER GILL (CEO - CME Group)
Bucky Isaacson (Partner - CTAExpo LLC)
 
BUILDING YOUR PERSONAL BRAND AND ITS IMPORTANCE IN DIFFERENTIATING YOURSELF IN A COMPETITIVE ENVIRONMENT
In their marketing efforts managers give little consideration to branding and how it can be used to help build AUM in a crowded field.
Teresa Alpert (Crimea River Ltd)
 
OPERATIONAL CONSIDERATIONS, SERVICE PROVIDERS AND THEIR IMPACT ON THE INVESTMENT DECISION
Before deciding to invest potential clients will look at the Service Providers a manager uses and the manager’s internal operations before committing assets
MODERATOR:
Annette Cazenave (A Cazenave LLC)
PANELIST:
Robert DeMuria (Founder – Compliances Supervisors International Inc)
Brad Janitz (Midland IRA)
Eddie Lund (SVP Business Development – Gemini Fund Services, LLC)
John Hynes (CEO – HedgeFacts International Ltd)
 
REGULATORY CHALLENGES… 2016 AND BEYOND

As the regulatory environment continues to evolve and become more complex compliance becomes more expensive and a bigger factor when evaluating emerging managers.
MODERATOR:
Norma Richmond (Manager, Audit & Assurance - Arthur Bell CPAs)
PANELISTS:
Daniel G. Viola (Partner – Sadis and Goldberg LLP)
Michael Sefton (Baker & McKenzie, LLP)
 
Date: Sept 15th, 2016. 
Venue: UBS Tower, One North Wacker Drive, Chicago, IL
Time: All day (1/2 day event the day before. See CTA site for more information)

Cocktail reception immediately following event

For more information and registration click here
 
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