Commodity futures naming convention
The CBOE Futures Exchange, LLC (CFE) today announced that James F. Lubin, a 30-year veteran of the futures industry, has been named Managing Director of CBOE Futures Exchange (CFE). He will lead CFE's strategic direction and will be based in New York City.
"We're thrilled to have Jim at the helm of CFE. He worked closely with our talented in-house team as a consultant this year, which saw a near-tripling of CFE's volume, " CBOE Holdings President and COO Edward T. Tilly said. "We are confident that Jim's vast futures experience and proven leadership record, combined with the skills of the team already in place, will take CFE to the next level by expanding our customer base and futures product line."
Prior to joining CFE as a full-time consultant last year, Lubin served from 2003 to 2010 as COO, Head of Business Development and a Principal for Hyman Beck & Co., a New Jersey-based managed futures firm with over $500 million in assets under management. His role included global responsibility for business and product development, strategic planning and investment strategy.
Lubin began his career at Merrill Lynch & Company in 1980, and over 19 years held positions of increasing responsibility in the futures, foreign exchange and managed futures divisions, finally serving as the Manager of Foreign Exchange for commodity trading advisors. From 1999 to 2003, he served as a Senior Vice President in Lehman Brothers' Fixed Income Division, where he established the company's foreign exchange business for commodity trading advisors.
Lubin holds an MBA degree in finance and investment management and a Bachelor's degree in economics from Adelphi University in New York.
CFE currently offers futures on five different contracts, including: the CBOE Volatility Index (VIX), Weekly options on VIX futures (VOW), CBOE mini-VIX (VM), CBOE Gold ETF Volatility Index (GVZ) and CBOE S&P 500 3-Month Variance (VT).
CFE, a wholly-owned subsidiary of CBOE Holdings, Inc. (NASDAQ: CBOE), offers an all-electronic, open-access market model, with traders providing liquidity and making markets. CFE is regulated by the Commodity Futures Trading Commission (CFTC) and all trades are cleared by the OCC. More information on CFE and its products, including contract specifications, can be found at: .
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CBOE®, Chicago Board Options Exchange®, CFE®, CBOE Volatility Index® and VIX® are registered trademarks, and CBOE Futures ExchangeSM, GVZSM, VOWSM and WeeklysSM are servicemarks of Chicago Board Options Exchange, Incorporated (CBOE). Standard & Poor's®, S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC, and have been licensed for use by CBOE and CFE.
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance)
Book (New York Institute of Finance)
How would the margin requirement be accounted by a commodity trading organization?
If you are a commodity trading organization trading futures and the brokerage needs a margin requirement -- how is that accounted for in the financial statements? Is it an expense in the income statement?
The amount with the futures brokers, including the margin requirement is accounted for as "other receivables", maintained in a sub account called "Amounts owning from brokers". It is a balance sheet account, under current assets.