The CME Group said on Friday it initiated performance bond requirements, sometimes known as margin requirements, for new options products traded in crude oil, electricity and natural gas liquids, effective Dec. 4. Get the full story »
CME Group
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CBOT traders see no Fed rate hike until 2012
U.S. short-term interest rate futures traders boosted bets the Federal Reserve will wait until mid-2012 before raising rates, after a government report showed the U.S. jobless rate unexpectedly rose in November. Get the full story »
Former CBOT boss named president of Sun Holdings
Bernard Dan, the former head of the Chicago Board of Trade and brokerage company MF Global Holdings, has joined the proprietary trading firm Sun Holdings LLC as president.
The move sees Dan, a major figure in listed derivatives markets, rejoin the financial services industry eight months after departing MF Global for personal reasons. Get the full story »
SEC mulls 3-month extension of flash crash plan
U.S. regulators are considering a three-month extension to their pilot program that gives stocks a reprieve when they are in freefall, people familiar with the situation said on Thursday.
The Securities and Exchange Commission’s circuit breaker program expires Dec. 10 and the regulator is under pressure to find permanent solutions to bolster market integrity after the May “flash crash.” Get the full story »
CME Group volume up 31% in November
Chicago-based CME Group Inc., operator of derivatives exchanges, reported November volume averaged 14.2 million contracts per day, the highest average since September 2008, with one exception. Get the full story »
CME Group shares rise on analyst upgrade
Shares of market exchange operator CME Group Inc. rose Wednesday after an analyst upgraded them from “hold” to “buy.” Get the full story »
CME to launch Oman-linked contracts on Dec. 5
The Dubai Mercantile Exchange said on Thursday six new swaps and options contracts linked to its benchmark Oman crude OQc1 would be listed on Dec. 5. The exchange launched the Oman contract in 2007, aiming for it to become the marker for the 12 million barrels per day of crude that move from the Middle East to Asia.
It said the new contracts would be launched by CME Group Inc., the world’s biggest futures exchange operator and a shareholder in DME. Get the full story »
400K more CBOE shares tendered than sought
CBOE Holdings Inc. said its two offers for nearly 12 million shares of class A-1 and class A-2 common stock exceeded the maximum tender amount.
About 12.4 million of class A-1 common stock and 13.6 million of class A-2 common stock were validly tendered and not withdrawn, according to the final count by BNY Mellon Shareowner Services, which is handling the tender offer. Get the full story »
CME wants Daley subsidy for trading floor overhaul
CME Chairman Terry Duffy, left, shows off CME Group's trading floors, Nov. 10, 2008. (Chris Walker/Chicago Tribune)
The Chicago Mercantile Exchange will overhaul its east trading floor at the Chicago Board of Trade building as part of a renovation plan funded by a proposed $15 million in tax increment finance assistance.
Mayor Richard M. Daley proposed an ordinance for the CME’s TIF agreement on Wednesday. The city of Chicago had pledged the assistance to CME in October 2009.
In exchange, CME agreed to keep 1,750 full-time positions and add at least 683 local jobs during the next decade. City officials said CME needed the financial help to outbid Atlanta-based IntercontinentalExchange for the Chicago Board of Trade. If the other company had succeeded in acquiring CBOT, the headquarters and jobs would have moved to Atlanta, officials said. Get the full story »
Precious metals steady; CME raises trading costs
(Reuters/Shannon Stapleton)
Precious metals steadied on Wednesday after futures of gold, and particularly silver, plunged in the previous session’s after-hours trade, although the dollar’s strength limited any immediate recovery.
The price of spot gold, which tracks trades in bullion, was up about half percent. Futures of the precious metal in New York showed a loss of up to 1.4 percent during the session, adjusting to Tuesday’s post-settlement trade. Get the full story »
Comex raises margins, silver futures plunge
Tighter margin requirements for silver futures triggered a sharp selloff Wednesday that spread to gold.
Silver for December delivery declined $1.84, or 6.3 percent, to $27.15 an ounce on the Comex. Get the full story »
CME picks exec to run global currency trading unit
CME Group Inc. has hired foreign exchange market veteran Roger Rutherford to head its global currency trading unit from London, according to a person familiar with the situation. Get the full story »
After setbacks, CME chief stakes out new ground
Craig Donohue. (Yoshikazu Tsuno/AFP/Getty Images)
Bruised by two big setbacks this year, the CME’s Craig Donohue is staking out new ground in a landscape ripped up and reseeded by the financial crisis.
CME Group Inc., the world’s largest operator of derivatives exchanges, was an obvious beneficiary of the crisis as regulators clamped down on over-the-counter swaps markets blamed for the 2007-2009 crisis.
But Chief Executive Donohue’s early attempts to clear credit derivatives and on another front, to block limits on speculative commodities trades, have stumbled. Get the full story »
