Shanny Basar (@shannybasar) header
Shanny Basar (@shannybasar) profile picture

Freelance journalist for @MarketsMedia. Returned to England in 2013 after 8 years in NY as US Correspondent for Financial News: shanny.basar@gmail. com

Rochester, England
Joined July 2009
Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)Photo by Shanny Basar (@shannybasar)
PSG HAVE MADE CHAMPIONS LEAGUE HISTORY! 🤯 They've become the fastest team to score four goals in a single match, taking just 16 minutes and 2 seconds ⚡️
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Lamine Yamal has overtaken Kylian Mbappé to become the highest-scoring teenager in Champions League history 👏
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Shanny Basar retweeted
equity perps are finally coming to the US. a few interesting things 1.this isn’t your typical DCM business. equity perps fall under both CFTC and SEC jurisdiction. the regulatory and operational barriers are much higher than simply listing another futures contract 2.only a handful of players are positioned for the first wave. Kalshi, Coinbase, Bitnomial and Crypto dot com have filed. American Perpetuals, founded by Senator Gillibrand’s son, is also pursuing this market. ICE just announced its partnership with TradeXYZ 3.these won’t necessarily look like crypto perps. different margin requirements, clearing structures and regulatory constraints could fundamentally change the economics but here’s what i find most interesting crypto has had regulated onshore derivatives markets for years. yet much of the perp liquidity and price discovery still happens offshore equities could be different. the underlying spot market and most institutional liquidity are already onshore but what happens when the stock market closes? overnight and weekend price discovery is increasingly happening in offshore markets. now regulated US equity perps want a piece of that will liquidity and price discovery finally move onshore? or will offshore venues continue to dominate when wall street goes to sleep? getting trading approved onshore is one thing. bringing price discovery onshore is another
Today, equity perps can begin trading for the first time on @CFTC registered exchanges. This move reflects my commitment to ensuring that America’s markets remain the most innovative, liquid, and well-regulated in the world. Instead of being forced to turn to offshore, unregulated venues to access equity perpetual futures, Americans may now access equity perps on CFTC-regulated markets subject to robust safeguards. I appreciate the continued partnership of @SECGov and @SECPaulSAtkins as we work to further harmonize our agencies' regulatory initiatives.
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Great example of a core difference between British and American journalism courtesy of the FT. American editor: “What do you mean by ‘seemed to be cantering’? Either it was or it wasn’t. Was it a trot? You sure it was a horse?” British editor: “Great colour on the horse. Tally-ho!”
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Shanny Basar retweeted
A story about the leader of Reform in Hampshire, in two parts
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Shanny Basar retweeted
Here's how to understand the CFTC equity perp news, simplified: The @CFTC has approved equity perp contracts for the 4 exchanges that have filed requests to approve them: - KalshiEX LLC - Coinbase Derivatives - Bitnomial (Kraken) - Nadex/OG.com All 4 of these exchanges are: 1. CFTC registered exchanges 2. DCMs that clear trades with registered DCOs 3. Also registered with the SEC 4. That previously filed requests for approval of equity-perp contracts. The 4 exchanges have internal standards (which they've formalized and filed with the CFTC) for which equity-perp they can list on their own exchange. Things like - Equity is publicly traded - Sufficient float, trading volume - Reliable pricing to be able to calc funding payments - Market structure resilient to manipulation So the exchanges are *mostly* free to self-certify the markets they want, i.e. all the popular ones. Which is bullish, because we're about to get a lot of onshore equity perps available on US retail platforms like Coinbase, Kraken. btw, @Lighter_xyz will file with the @CFTC this month (per their Q3 investor call) and will very likely be the 5th exchange on this list (and the only crypto-native DEX with a CFTC DCM/DCO license), and is one of the reasons why Lighter is so unique as a project
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Equity perpetuals are here: Americans can now trade perpetual futures on individual stocks listed on U.S. exchanges for the first time. The @CFTC deemed the contracts approved as security futures, which the CFTC and @SECGov regulate jointly. U.S. investors get the protections of both agencies, the oversight Congress intended when it created a dedicated regime for security futures products. In our August comment letter, we made the case that security futures treatment is the best path for these markets to flourish. Both CFTC- and SEC-regulated exchanges can list security futures, so venues primarily overseen by either agency can compete to offer this new class of product. That competition will improve outcomes for investors. Equity perpetuals expand the tools that market participants can use to manage risk and take positions on securities in a single contract that never expires. We commend the staff of both agencies for this milestone in our derivatives markets.
Today, equity perps can begin trading for the first time on @CFTC registered exchanges. This move reflects my commitment to ensuring that America’s markets remain the most innovative, liquid, and well-regulated in the world. Instead of being forced to turn to offshore, unregulated venues to access equity perpetual futures, Americans may now access equity perps on CFTC-regulated markets subject to robust safeguards. I appreciate the continued partnership of @SECGov and @SECPaulSAtkins as we work to further harmonize our agencies' regulatory initiatives.
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Shanny Basar retweeted
Huge news for Hyperliquid considering equities are the fastest growing segment of the perps market. This comes just days after TradeXYZ and ICE announced a partnership to bring Hyperliquid to the U.S. Just continue to see more signs that regulated HIP-3 markets will be a massive cook.
[ ZOOMER ] THE CFTC APPROVES LISTING OF US EQUITY PERPETUALS IN THE US: PRESS RELEASE
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Shanny Basar retweeted
October marked our strongest month to date for crypto weekend trading, reaching $1.3B in total volume. The month also achieved a record average daily volume of $340M, up 55% vs. September.
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Shanny Basar retweeted
Adam Robinson, who died in the Learjet crash told a podcast last week that it's hard to walk away from trading jobs: "You’re always looking at your boss and then your boss’s boss and trying to extrapolate: ‘Wow, if I just hang around, I’m going to have that cool apartment and buy that Hamptons house.’ That’s what the whole thing is.” efinancialcareers.co.uk/news…
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Shanny Basar retweeted
🚨NEW: Crypto Vaults Expose Industry Divide Over Who Should Be Regulated by the SEC Competing industry reports reveal a split among major DeFi players over when human control turns DeFi into a regulated investment product. The debate comes as the SEC rolls out guidance on decentralization, after the Clarity Act stalled in Congress. Read more from me here. ⬇️ cryptoinamerica.com/p/crypto…
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Shanny Basar retweeted
Our President, bringing clarity into the letter salad currently confusing the industry. My contribution in this chart:
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Shanny Basar retweeted
Tokenized deposits, live in Hong Kong. Interbank settlement in central bank money. 24/7. @StanChart is bringing its banking capabilities to Fireblocks, with native access to the digital asset ecosystem.
We’ve announced the launch of our Tokenised Deposits solution in Hong Kong, the first market in the Group to offer the solution. The solution enables corporate treasurers, banks, investment platforms and digital asset businesses to use commercial bank deposits within digital treasury and investment workflows. Built on our proprietary blockchain infrastructure, it combines the trust of regulated bank deposits with the programmability of tokenised assets, helping clients enhance efficiency, interoperability and settlement predictability while reducing counterparty risk. This is the first step in our ambition to expand the solution to additional markets. Read the full announcement: sc.com/en/press-release/stan…
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Shanny Basar retweeted
England deliver a huge win against USA to secure a place in the Wheelchair Rugby League World Cup semi-finals, where they will face either France or Australia next week 🏉
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Shanny Basar retweeted
This paper answers why confident idiots run the world. Cornell University published a psychological paper that explains every terrible boss, every loud influencer, and every broken corporate hierarchy. It’s called “Unskilled and Unaware of It.” they tested participants across logic, grammar, and humor to measure the gap between actual performance and self-perception. And the results are wild. participants scoring in the bottom 12th percentile consistently believed they were operating in the 62nd percentile. they were not lying. they were literally incapable of recognizing their own incompetence. the paper revealed a brutal paradox: the exact skills required to master a domain are the exact same skills required to accurately evaluate your own competence in that domain. if you lack the skill, you inherently lack the cognitive capacity to realize you are failing. this creates a dangerous systemic loop. the incompetent are blessed with absolute, blinding certainty. their brain protects them from their own ignorance, allowing them to speak first, demand authority, and never second-guess their decisions. meanwhile, the actual experts suffer the exact inverse. top performers in the study consistently underestimated their rank. because a task was easy for them, they falsely assumed it was easy for everyone else. they hesitate. they obsess over nuance. they assume they have nothing unique to add. we are biologically wired to confuse confidence with competence. the loudest person in the room gets promoted, gets funded, and gets the microphone, not because they know what they are doing, but because they are physically incapable of seeing what they don't. the only defense mechanism is building systems that stop rewarding absolute certainty and start demanding proof of work.
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Shanny Basar retweeted
watching @tZERO going public is a reminder that tokenization’s value accrues to the regulated plumbing: trading, custody, brokerage, & particularly the transfer agent. Whoever keeps the official record of ownership controls how a token can move. its the same reason 4 more TAs signed on to NYSE’s tokenized platform this week.
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