The Jacobi orientation and the two-variable elliptic genus

We explain the relationship between the sigma orientation and Witten genus on the one hand and the two-variable elliptic genus on the other. We show that if E is an elliptic spectrum, then the Theorem of the Cube implies the existence of canonical SU-orientation of the associated spectrum of Jacobi forms. In the case of the elliptic spectrum associated to the Tate curve, this gives the two-variable elliptic genus. We also show that the two-variable genus arises as an instance of the circle-equivariant sigma orientation.