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Treasury's Bessent hires Trump's controversial former Fed board pick, Judy Shelton, as advisor. Advertisements Judy Shelton, whose controversial economic ideas led the Senate to block her nomination to the Federal Reserve, has been appointed a counselor to Treasury Secretary Scott Bessent. The Treasury said Shelton will advise Bessent on currency policy, "with a particular focus on evaluating financial conditions in China." Shelton is not known as a China expert. She authored "The Coming Soviet Crash" in 1989, followed by "Money Meltdown," about the need for a unified international monetary regime, in 1994. Before joining Treasury, Shelton was a senior fellow at the Independent Institute, a free market think tank, and, before that, at the Hoover Institution at Stanford University. She holds a Ph.D. in business administration from the University of Utah. "Throughout her career, she has specialized in analyzing the internal monetary and financial conditions of nations and their impact on exchange rates," The Treasury said in its announcement, which will be released later Friday. A bipartisan group of senators, including all Democrats and a handful of Republicans, rejected President Donald Trump's 2019 nomination of Shelton as a Fed governor over her views on Fed independence, her support for the gold standard and her questioning whether the U.S. needed a central bank. Her appointment comes at what looks to be a time of turmoil at the Treasury regarding high-level personnel. A recent Wall Street Journal story cataloged seven Senate-confirmed officials who have left the department through the end of August. Only one position has been filled. Bessent recently named David Zervos, former chief market strategist at Jefferies, as a counselor - the same job title as Shelton. Neither Shelton nor Zervos require Senate approval. Correction: Shelton authored "Money Meltdown" in 1994. An earlier version misstated the year. David Zervos is former chief market strategist at Jefferies. An earlier version misspelled the firm's name.

Jefferies VP steps into trader role at Junto Capital Management. New hire initially joined Jefferies in 2018 and worked across electronic and program trading during his time at the firm. Ryan Larsen has swapped the sell-side for the buy-side, joining Junto Capital Management as a trader after a seven-year tenure at Jefferies. New York-based Larsen joins the hedge fund manager after most recently serving as a vice president in electronic trading at Jefferies - a role he held for almost two years. He began his tenure at the firm in 2018 as an analyst before later stepping into a position focused on electronic and program trading. Jefferies and Junto Capital Management had not responded to a request for comment at the time of publication. In May 2026, former Junto Capital Management trader, Colin Cortes, joined Coatue Management as head of trading and risk. Cortes had spent nine years at Junto Capital Management and has worked across capital markets for more than 15 years. The TRADE > News > Asset Classes > Derivatives > One Trading lands strategic investment from Nasdaq Ventures One Trading lands strategic investment from Nasdaq Ventures. The backing will support the firm in "broadening what's available on a regulated European venue and exploring with Nasdaq how other markets could benefit from the innovations we've made in market structure," One Trading chief executive tells The TRADE. European derivatives trading venue One Trading has received a strategic investment from Nasdaq Ventures, set to support capital markets and derivatives innovation. The move establishes a pathway for both Nasdaq and One Trading to explore areas for future collaboration, combining Nasdaq's experience in developing advanced market infrastructure, global distribution and client relationships with One Trading's cloud-deployed low-latency trading and risk engine. Specifically, the investment is expected to support the modernisation of derivatives market infrastructure and expand the product suite for market participants. Speaking to The TRADE, Joshua Barraclough, chief executive of One Trading, explained how the investment will support the expansion of its current offering, which combines matching, margining, risk management, settlement and liquidation together to run inside a single deterministic engine. "Nasdaq Ventures' investment is a strong signal that this model belongs at the core of market infrastructure, not at its edges. For us, it means support to keep building, and the chance to work alongside one of the world's most experienced market operators to learn from clients and understand where our technology can create the most value." The integration also builds on One Trading's regulatory position in Europe, following on from news in April 2025 that the firm had launched its perpetual trading venue - marking the first Mifid II-regulated trading venue for crypto perpetual futures in the EU. Barraclough added: "Looking ahead, our focus is on broadening what's available on a regulated European venue and exploring with Nasdaq how other markets and their clients could benefit from the innovations we've made in market structure." Expansion has been firmly on the horizon for One Trading recently, and in July, the firm launched a suite of leveraged equity futures, as part of an effort to provide continuous 24/7 trading access to leading US equities. The new US index futures offering will allow traders to gain exposure to leading US large-cap technology and growth companies, within a fully regulated framework. The new US equities exposure also marks the first traditional asset class to be integrated into One Trading's existing infrastructure.