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Tag: CME

  • CME becomes second-largest Bitcoin futures exchange, surpassing Binance

    CME becomes second-largest Bitcoin futures exchange, surpassing Binance

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    CME’s notional open interest has surged to $3.57 billion, securing its position as the second-largest exchange in the trading of standard Bitcoin and perpetual futures.

    The Chicago Mercantile Exchange (CME), a regulated entity, is ascending the ranks among the largest exchanges for Bitcoin (BTC) futures and perpetual futures trading by open interest, evoking memories of the initial phases of the 2020-2021 bull market.

    According to Coinglass, CME has seen its notional open interest (OI) rise to $3.57 billion, elevating it to the second-largest Bitcoin futures exchange from its previous fourth-place standing just weeks ago.

    Notional open interest is defined as the U.S. dollar value tied to the number of active or open contracts.

    Binance, an offshore unregulated exchange, continues to dominate the market with a notional open interest of $3.85 billion, which is about 8% higher than that of CME.

    However, CME has recently achieved a milestone by surpassing 100,000 BTC in open interest for its cash-settled futures contracts for the first time. Additionally, CME’s market share in the Bitcoin futures sector has reached an all-time high of 25%.

    CME offers standard Bitcoin futures contracts equivalent to 5 BTC and micro contracts that are one-tenth of 1 BTC. It also provides ether futures with a contract size of 50 ETH and micro futures equivalent to one-tenth of 1 ETH.

    Most of the open interest on offshore exchanges is concentrated in perpetual futures, which are unique in that they have no expiration date and employ a funding rate mechanism to align with the current spot price.

    Market observers suggest that CME’s recent growth could indicate an institutional-led rally in Bitcoin. The cryptocurrency has seen a 27% increase this month, fueled by macroeconomic uncertainty and optimism over spot exchange-traded funds (ETFs).

    Retail investors have also contributed to this trend. Data from Matrixport shows that the rolling five-day volume in ProShares’ leading Bitcoin futures ETF soared by an astonishing 420% to $340 million last week. This ETF primarily invests in CME Bitcoin futures.

    Analyst says CME ascent signals fading bearish views

    André Dragosch, the head of research at Deutsche Digital Assets, offers a different perspective. He argues that CME’s growth is more likely due to the unwinding of bearish positions on offshore exchanges rather than an increase in long futures positions.

    Dragosch notes that although CME’s share in Bitcoin futures open interest has risen, the overall amount of Bitcoin futures and perpetual open interest has not seen a significant uptick in Bitcoin terms.

    This suggests that the recent price surge may be more attributable to a short squeeze and a decrease in aggregate open interest.

    The market is also buzzing with anticipation over the potential approval of a Bitcoin spot ETF, which has further driven up Bitcoin’s price.

    Earlier this month, BTC rallied toward the $35,000 mark, largely due to market speculation surrounding the spot ETF.


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  • Tesla is a ‘soft landing’ stock, says Goldman Sachs. Here are its picks for a gentle economic landing and stocks for a recession.

    Tesla is a ‘soft landing’ stock, says Goldman Sachs. Here are its picks for a gentle economic landing and stocks for a recession.

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    Pour one out for the beleaguered economists, who for once got an important indicator, the consumer price index, right on the nose, after CPI fell 0.1% in December, while core prices rose 0.3%.

    “The 2021 surge in durable goods demand normalized, and the resulting collapse in durable goods price inflation was stunningly fast,” says Paul Donovan, chief economist of UBS Global Wealth Management.

    “The commodity wave of inflation is fading, and that leaves the profit margin expansion in focus,” he adds. What a good time for earnings season to be upon us, and what do you know, it is, kicking off with the banking sector on Friday before broadening out next week.

    Strategists at Goldman Sachs have a new note out, saying that the market is pricing in a soft landing even though the trend of earnings revisions points to a hard landing.

    They’re not that optimistic — even in the soft-landing scenario, the team led by David Kostin say the S&P 500
    SPX,
    +0.40%
    will end the year right around current levels, at 4,000. But they identify 46 stocks that could benefit — profitable, cyclical companies that are trading at price-to-earnings valuations below their 10-year median, among other factors.

    One name jumps out: Tesla
    TSLA,
    -0.94%    ,
    which trades at 22 times forward earnings versus the 10-year median of 117 times. But the other 45 names are less flashy, ranging from Capital One
    COF,
    +1.81%
    and Carlyle Group
    CG,
    +0.54%    ,
    to a host of industrials including 3M
    MMM,
    +0.12%    ,
    Parker-Hannifan
    PH,
    +0.73%
    and Otis Worldwide
    OTIS,
    +0.42%    .
    As a whole, these typically $10 billion companies are trading at 12 times earnings, versus 17 times usually.

    In the hard landing scenario, S&P 500 profit margins would shrink by 125 basis points, to 10.9% — about in line with the median peak-to-trough decline during the eight recessions since 1970, which has been 132 basis points. Consensus expectations are for a 26 basis-point margin decline.

    The Goldman team also have a 36 stock screen for a hard landing — profitable companies in defensive industries with a positive dividend yield. They’re typically food, beverage and tobacco companies as well as software and services companies — including Costco Wholesale
    COST,
    +0.58%    ,
    Kroger
    KR,
    -0.99%    ,
    Altria
    MO,
    +0.48%    ,
    Tyson Foods
    TSN,
    +0.23%    ,
    Microsoft
    MSFT,
    +0.30%    ,
    MasterCard
    MA,
    -1.13%
    and Visa
    V,
    -0.25%    .
    As a whole, these $37 billion companies are trading at 22 times earnings vs. a historical 24 times.

    The market

    After a 2.3% advance for the S&P 500
    SPX,
    +0.40%
    over the last three sessions, U.S. stock futures
    ES00,
    +0.39%

    NQ00,
    +0.58%
    declined on Friday.

    The yield on the Japanese 10-year bond
    TMBMKJP-10Y,
    0.511%
    exceeded 0.5%, the Bank of Japan’s yield cap, ahead of next week’s rate decision , prompting a second day of aggressive bond purchases from the central bank.

    For more market updates plus actionable trade ideas for stocks, options and crypto, subscribe to MarketDiem by Investor’s Business Daily.

    The buzz

    Fourth-quarter earnings were rolling out from Bank of America
    BAC,
    +2.20%    ,
    JPMorgan Chase
    JPM,
    +2.52%    ,
    Citigroup
    C,
    +1.69%
    and Wells Fargo
    WFC,
    +3.25%    ,
    and outside of banks, Delta Air Lines
    DAL,
    -3.54%    ,
    BlackRock
    BLK,
    +0.00%
    and UnitedHealth
    UNH,
    -1.23%    .

    JPMorgan shares slumped after forecast-beating earnings, though investment bank revenue came in light of estimates. Delta shares also declined after topping earnings estimates.

    Tesla
    TSLA,
    -0.94%
    cut prices of Model 3 and Model Y vehicles in the U.S. and elsewhere by up to 20%. The electric vehicle maker stock dropped 6%.

    Virgin Galactic
    SPCE,
    +12.34%
    surged after saying it’s on track to launch space-tourism flights in the second quarter.

    Apple
    AAPL,
    +1.01%
    says CEO Tim Cook requested, and received, a pay cut after investor criticism.

    The University of Michigan’s consumer-sentiment index is due at 10 a.m. Eastern, and Minneapolis Fed President Neel Kashkari and Philadelphia Fed President Patrick Harker are due to speak.

    Tyler Winklevoss said charges by the Securities and Exchange Commission brought about Gemini Trust for allegedly offering unregistered securities were “super lame” as it seeks to unfreeze $900 million in investor assets.

    Best of the web

    There’s a bull market in swearing on corporate earnings calls.

    The West is now preparing to send tanks to Ukraine in what could be another escalation of its conflict with Russia, which on Friday claimed victory in the eastern town of Soledar.

    A look back at photos of Lisa Marie Presley, who died at age 54.

    Top tickers

    Here were the most active stock-market tickers as of 6 a.m. Eastern.

    Ticker

    		 Security name
    BBBY,
    -30.15%         		Bed Bath & Beyond
    TSLA,
    -0.94%         		Tesla
    GME,
    -0.68%         		GameStop
    AMC,
    +0.80%         		AMC Entertainment
    MULN,
    -8.59%         		Mullen Automotive
    NIO,
    -0.08%         		Nio
    APE,
    -2.56%         		AMC Entertainment preferreds
    AAPL,
    +1.01%         		Apple
    SPCE,
    +12.34%         		Virgin Galactic
    AMZN,
    +2.99%         		Amazon.com
    Random reads

    Like a scene out of “Stranger Things” — there’s uproar after new restrictions on the Hasbro
    HAS,
    +0.21%
    game Dungeons & Dragons.

    Starting next month, Starbucks
    SBUX,
    +1.30%
    rewards will be less generous for most items, though iced coffee will be easier to get.

    Need to Know starts early and is updated until the opening bell, but sign up here to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern.

    Listen to the Best New Ideas in Money podcast with MarketWatch reporter Charles Passy and economist Stephanie Kelton.

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  • Passin Associates Awarded Contract by the U.S. Army Medical Command

    Passin Associates Awarded Contract by the U.S. Army Medical Command

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    Contract to Support Reaccreditation as a Provider of Continuing Medical Education

    Press Release
    –


    updated: Sep 2, 2020


    CHARLOTTE, N.C., September 2, 2020 (Newswire.com)
    –
    Steve Passin, FACEHP, CHCP, President and CEO of Steve Passin & Associates, is pleased to announce that Passin Associates, based in Charlotte, North Carolina, has received a contract from the U.S. Army Medical Command to support its reaccreditation as a provider of continuing medical education (CME).

    CME-accredited providers certify educational activities for category 1 credit of the American Medical Association’s Physician’s Recognition Award (“AMA PRA”). The AMA PRA is utilized in the United States by state licensing boards and boards of medical specialties to re-license physicians and re-certify them in their areas of specialty. 

    Passin Associates has been pleased to support the Army’s program of CME for almost 20 years.

    Passin Associates is one of the oldest consulting firms with a dedicated team of educationalists in the United States to provide support for providers of CME — including governments, hospitals and hospital systems, academic institutions, specialty societies and education companies — in achieving their educational goals, accreditation  and reaccreditation by the Accreditation Council for Continuing Medical Education (ACCME) and Interprofessional Joint Accreditation.

    In announcing this award, Passin said, “The Army’s CME Program has been and continues to be one of the top-tier programs of continuing medical education in the United States and worldwide and has attained recognition as a six-year provider of CME with commendation. Our firm has been honored to support this achievement throughout the years.”

    For more information about Passin Associates’ consulting services for the Continuing Medical Education and Continuing Professional Development industry, please consult its website at www.passinassociates.com or contact Steve Passin at passin@passinassociates.com or phone him at (610) 256-6555. 

    Source: Steve Passin & Associates, LLC

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  • CME Activity Targets Opioid Epidemic Through Adaptive Learning

    CME Activity Targets Opioid Epidemic Through Adaptive Learning

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    Press Release
    –


    updated: Sep 23, 2019


    COLUMBIA, Md., September 23, 2019 (Newswire.com)
    –
    On each day in 2017, 91 deaths were attributed to opioid overdose; in fact, the number of overdose deaths involving opioids has increased six-fold since 1999. The numbers are clear: clinicians are failing to alleviate the nation’s growing opioid crisis. Through an adaptive-learning continuing medical education (CME) program, a collaboration of several organizations (Rockpointe, University of North Texas, CogBooks, and O’Donnell Learn) and available through the American Board of Medical Specialties (ABMS) CE Certification Directory, is offering a new approach to help clinicians turn the tide against an epidemic that has had catastrophic consequences.

    To help address the opioid crisis, the FDA developed a risk evaluation and mitigation strategy (REMS) for the use of outpatient opioid analgesics and, in 2012, issued an educational blueprint to provide guidance on prescribing opioid analgesics for pain management. In September 2018, the FDA updated the blueprint to include additional information on pain management, such as components of an effective treatment plan, non-pharmacologic treatments for pain, pharmacologic treatments for pain (non-opioid and opioid analgesics), and a primer on addiction medicine. It also widened the scope of the blueprint to apply not only to prescribers, but to all healthcare providers involved in the management of patients with pain.

    Rockpointe’s new adaptive-learning CME activity, “Opioid Analgesics: Risk Evaluation and Mitigation Strategy (REMS) and the New FDA Blueprint,” presents participating clinicians with a thorough review of the FDA’s updated educational blueprint to facilitate the evidence-based management of pain in their patients on a daily basis. The education provides tools to help clinicians mitigate issues associated with opioid therapies, such as misuse and addiction. The program aims to educate 10,000 clinicians using adaptive-learning technologies, with the results to be submitted for publication in a peer-reviewed journal.

    Physicians across many specialties manage acute and chronic pain in their patients on a daily basis. With 58 opioid prescriptions written for every 100 people in the United States in 2017, it is imperative that clinicians integrate non-pharmacologic and non-opioid analgesics into pain treatment plans in an evidence-based manner, appropriately identify patients who are candidates for opioid therapy, and recognize how to effectively monitor these patients during treatment periods. This activity is intended for those involved in direct patient care, including clinicians registered with the DEA who are eligible to prescribe all opioid analgesics. In addition, because of the broader scope of the revised FDA educational blueprint, the intended audience may include members of the healthcare team who are not authorized to prescribe.

    After completing the activity, participants should be able to:

    ·         Define the components of an effective treatment plan, such as treatment goals, patient engagement, and collaboration within the healthcare team;

    ·         Assess the risks and benefits of non-pharmacologic therapies prior to initiating long-term pharmacologic therapy;

    ·         Identify patients who are candidates for treatment with non-opioid pharmacologic analgesics;

    ·         Evaluate criteria for initiating opioid analgesics; and

    ·         Identify risk factors for addiction to opioid analgesics.

    Adaptive Learning

    The program’s adaptive-learning instructional design allows for a tailored educational experience that addresses the unique needs of each learner. The activity incorporates text, interactive questions, and audio recordings of faculty experts synced with a slide presentation. Depending on each participant’s response to the questions in the activity, an algorithm creates a unique educational pathway. Those with a good grasp of a concept move closer to completion, while others with less knowledge are provided additional content/questions to assist in gaining an adequate understanding of a topic. Post-activity content-based questions are used to assess learning, along with measures of clinicians’ perceptions of the content and their confidence in managing patients with pain.

    This CME program is available online at www.CElink.Rockpointe.com. Clinicians will be able to claim CME credit upon successful completion of the program.

    This activity has been planned and implemented in accordance with the accreditation requirements and policies of the Accreditation Council for Continuing Medical Education (ACCME) through the joint providership of the University of North Texas Health Science Center (UNTHSC) and Rockpointe. UNTHSC is accredited by the ACCME to provide continuing medical education for physicians. UNTHSC designates this enduring material for a maximum of 3.0 AMA PRA Category 1 Credits™.

    Through the American Board of Medical Specialties (“ABMS”) ongoing commitment to increase access to practice relevant Continuing Certification Activities through the ABMS Continuing Certification Directory, “Opioid Analgesics: Risk Evaluation and Mitigation Strategy (REMS) and the New FDA Blueprint” has met the requirements as a MOC Part II Self-Assessment or MOC Part II CME Activity (apply toward general CME requirement) for the following ABMS Member Boards:

    MOC Part II Self-Assessment Activity
    Physical Medicine and Rehabilitation

    MOC Part II CME Activity
    Allergy and Immunology
    Anesthesiology
    Family Medicine
    Internal Medicine
    Medical Genetics and Genomics
    Nuclear Medicine
    Pediatrics
    Physical Medicine and Rehabilitation
    Preventive Medicine
    Psychiatry and Neurology
    Radiology
    Thoracic Surgery
    Urology

    This CME webcourse is available through Aug. 30, 2020, and the on-demand format allows participants to view the presentation at their own convenience from the comfort of their home or office.

    This activity is supported by an independent educational grant from the Opioid Analgesic REMS Program Companies. For a list of REMS Program Companies, see: https://ce.opioidanalgesicrems.com/RpcCEUI/
    rems/pdf/resources/List_of_RPC_Companies.pdf.

    Through effective continuing medical education, Rockpointe strives to improve and advance the quality of patient care. Its educational programs have been at the forefront of new issues in healthcare, including implementing MIPS, combating the nation’s opioid crisis, and utilizing technical advances that improve care. As part of its commitment to quality, Rockpointe works to inform the continuing-education community of significant quality-improvement issues through news and analysis on Policy and Medicine. In addition, its popular Medical Education Exchange (MEDX) CME regional meetings include sessions on the basics of quality improvement and alternative payment models, as well as relevant and scientifically accurate sessions on numerous disease states. All sessions include links back to associated National Quality Priorities to reinforce the bigger picture and the triple aim of: 1) improving health and 2) lowering cost to 3) better the patient experience. At Rockpointe, education equals quality.

    Source: Rockpointe Corp

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  • Study Demonstrates Impact of CME Activities on Clinician Awareness of Biosimilars

    Study Demonstrates Impact of CME Activities on Clinician Awareness of Biosimilars

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    Press Release
    –


    updated: Jun 21, 2019


    COLUMBIA, Md., June 21, 2019 (Newswire.com)
    –
    ​​The outcomes of a recent continuing medical education (CME) program, the results of which were published in the June 20 issue of Evidence-based Oncology in an article titled “Addressing Oncologists’ Gaps in the Use of Biosimilar Products,” demonstrated that, prior to participating in the education activity, only 22% of oncology healthcare providers (HCPs) knew the basic aspects of biosimilars, i.e. how biosimilars differ from generic drugs and the requirements for FDA approval. Following completion of the education, knowledge of biosimilars increased 56% (from 22% to 78%). The educational program demonstrated not only the need for continued efforts to educate healthcare providers about biosimilars but also demonstrated the ability of education to effectively address the current gaps among HCPs in using biosimilars. The study was based on the results from a Rockpointe-developed educational initiative, “From Biologics to Biosimilars in Oncology Practice: A New Source of Value,” deployed in 2017 and 2018 with the goal of better preparing medical oncologists, hematologists, nurses, pharmacists and other clinicians to incorporate biosimilars into the treatment paradigm for patients with cancer. The initiative consisted of expert-led, interactive CME activities, based on a core curriculum and presented as a series of three live meetings and an online course.

    Both the live and online activities featured a slide-based lecture with interactive multiple-choice questions. A total of 9,599 individuals participated in the activities, including 114 during regional meetings and 9,485 in an online webcourse. To measure the impact of the education, each question was posed twice: once before exposure to the education and once immediately after exposure. Live activity participants also were invited to complete an electronic follow-up survey, including the same questions at six to eight weeks after the event, to measure knowledge retention over time.

    Key study findings

    ·         In the aggregate, scores on practice-impact questions improved from 22% at baseline to 78% during the post-test, with similar trends seen with the webcourse (23% to 78%) and the regional live meetings (27% to 81%).  In a survey, 60 days after completion of the education activity, close to half the learners (47%) reported competency with utilizing biosimilars in their practice.

    ·         After completion of the activity, significantly more participants understood the level of evidence needed for biosimilars to be approved by the FDA, representing 68% and 66% absolute increases among live meeting and webcourse attendees, respectively.

    ·         Prior to the activity, only 10% of live meeting attendees knew that a biosimilar must demonstrate no clinically meaningful differences with the reference biologic, in terms of safety, purity, and potency; this indicates the magnitude of the gap among community oncology clinicians in understanding the approval process for biosimilars.

    ·          Knowledge of the evidence leading to approval by the FDA of the biosimilar MYL-1401O (trastuzumab-dkst) for treating breast cancer increased significantly following both activities: 36% pre-test to 96% post-test in the live meetings, and 17% pre-test to 62% post-test in the webcourse (P<0.05).

    ·         Self-reported familiarity with the biosimilar approval process improved threefold, increasing from 21% at baseline to 69% immediately after the activity, while confidence in using biosimilars increased from 25% to 36% in pre- and post-activity measurements. The smaller rise in confidence in using biosimilars suggests that healthcare providers remain somewhat hesitant to integrate biosimilars into practice and that additional exposures to biosimilar education in this specific learner group should result in even greater uptake of knowledge, comprehension and competence.

    ·         Interestingly, none of the six barriers to the use of biosimilars that were queried were rated as major barriers by most participants. Institutional or formulary restrictions were most often cited as a major barrier (15%), followed by patient reluctance to use biosimilars (12%), lack of familiarity with the biosimilar approval process (12%), lack of efficacy data (11%), lack of safety data (11%), and other, including lack of time, cost of therapies, and insurance (10%).

    ·         Based on a 73.1% non-overlap between scores measured at baseline and at the end of the live activity, it is estimated that the 114 clinicians who participated in the regional meetings are 73.1% more likely to deliver evidence-based care for cancer, positively affecting the care of patients seen during 2,641 visits each month. Similarly, the webcourse was associated with a large effect size, with 81.1% nonoverlap between pre-test and post-test scores. It is estimated that the 9,485 clinicians who participated in the online activity are 81.1% more likely to deliver evidence-based care for cancer, positively affecting the care of patients seen during 55,345 visits each month.

    The study showed that educating clinicians on Biosimilars will increase the knowledge and familiarity with those providers, potentially seeing cost savings with similar outcomes across the board.

    To read the full study, go to https://www.ajmc.com/journals/evidence-based-oncology/2019/june-2019/addressing-oncologists-gaps-in-the-use-of-biosimilar-products.

    All activities have been planned and implemented in accordance with the accreditation requirements and policies of the Accreditation Council for Continuing Medical Education (ACCME).

    Through effective continuing medical education, Rockpointe strives to improve and advance the quality of patient care. Its educational programs have been at the forefront of new issues in healthcare, including implementing MIPS, combating the nation’s opioid crisis and utilizing technical advances that improve care. As part of its commitment to quality, Rockpointe works to inform the continuing-education community of significant quality-improvement issues through news and analysis on Policy and Medicine. At Rockpointe, education equals quality.

    Source: Rockpointe Corp

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  • Dr. Theresa Vera Appointed as President of Spire Learning

    Dr. Theresa Vera Appointed as President of Spire Learning

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    Press Release
    –


    updated: Jun 17, 2019


    PARSIPPANY, N.J., June 17, 2019 (Newswire.com)
    –
    ​​​Spire Learning, nationally recognized for innovation and quality programming in continuing education, announced today that Theresa Vera, Ph.D., will join Spire Learning as President. “With a solid foundation in place, and with an eye on positioning and preparing ourselves for the future, we are fortunate to have someone of Dr. Vera’s caliber and experience step up to lead Spire,” said CEO Mark J. Miller. According to Miller, “these are exciting times for the Medical Education industry. The industry is at an inflection point that represents an opportunity to modernize learning strategies and enhance the impact of our efforts so that we collectively ensure meaningful and lasting improvements to patient care.” Dr Vera is well positioned to lead Spire in these efforts.

    Dr. Vera brings extensive leadership and healthcare industry experience across multiple therapeutic areas, including neuroscience and gastroenterology. For nearly 20 years, Dr. Vera has taken on a variety of roles in medical education, medical communications, corporate training and strategic operations that provide her with the diverse background that will serve as a critical foundation to lead Spire’s future transformation. Dr. Vera joins Spire with a reputation for driving strategic initiatives through positive individual, departmental and organizational growth. 

    Dr. Vera’s most recent role was as Global Head, Global Medical Affairs Training at Takeda Pharmaceuticals International, Inc., where she led business initiatives to enhance the scientific, functional and professional capabilities of the medical affairs organization. Theresa holds a Doctor of Philosophy (Ph.D.) in Pharmacology and a Bachelor of Science in Chemistry. “Spire Learning has been known for quality medical education programming for over 10 years. I look forward to collaborating with the Spire team to drive continued excellence in healthcare professional education. As healthcare treatment approaches become increasingly complex, we have an opportunity to be at the forefront in supporting professionals to prepare for the increased complexity of care,”  Vera said about her new role with Spire.

    About Spire Learning

    Spire Learning is headquartered in Parsippany, New Jersey and is dedicated to the mission of enhancing patient care through the design, development and implementation of timely, evidence-based and clinically relevant CME/CE activities in innovative formats that catalyze change, reinforce effective practices and improve healthcare professional performance. Spire Learning strives to consistently adhere to the highest standards of excellence and is committed to fostering a culture of continuous learning and development.

    If you would like more information about Spire Learning, please call 973.605.2922 or email info@spirelearning.com

    Source: Spire Learning

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