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Shares of Wells Fargo & Co. traded on the CBOE Stock Exchange Thursday morning at a price about 8 percent below its price on other exchanges, Reuters data showed.
The action was notable because sudden drops in stock prices have become more scrutinized after the May 6 “flash crash,” when markets fell precipitously in minutes. Get the full story »
CME Group Inc. said on Monday that it had begun clearing interest rate swaps, the largest of the over-the-counter derivatives markets that lawmakers are forcing through more transparent venues.
The giant futures exchange operator named as participants in the clearinghouse five buyside firms, including Fannie Mae, Freddie Mac and PIMCO, and 10 dealers, including Goldman Sachs Group Inc. and JPMorgan Chase and Co. Get the full story »
Cotton prices are at their highest in the 140 years the commodity has traded on an exchange, as heavy Chinese buying and poor harvests are expected to keep global supplies tight.
The ICE December cotton contract hit $1.1980 a pound minutes after trading opened, eclipsing the previous record high set in 1995 by more than 2 cents. Get the full story »
Russia is exploring the creation of a regional wheat futures market and this month held talks with senior executives at CME Group Inc., according to a senior official at the Chicago-based exchange operator.
The planned venture would add another global platform for trading alongside Chicago and Paris, serving the fast-growing “bread basket” of Russia, Ukraine and Kazakhstan, which has become an increasingly important source of European food imports. Get the full story »
CME Group Inc. said on Thursday it would launch a new set of rainfall futures and options contracts for traders looking to hedge risk in the agricultural commodities markets.
The new contracts, which will be based on the amount of rainfall in cities such as Chicago, Des Moines, Iowa, New York and the Dallas-Fort Worth area, will start trading on Nov. 1, CME Group said in a statement. Get the full story »
The dollar fell sharply against a broad range of currencies Thursday as prospects for Asian economic growth contrasted with the likely need for more stimulus in the U.S.
A monetary-tightening move overnight by the Monetary Authority of Singapore accelerated the dollar’s slide, knocking the greenback to long-term lows against rivals in Asia, Europe and North America before regaining some poise in New York trading. Get the full story »
The top U.S. securities regulator Wednesday took its first stab at policing the $615 trillion over-the-counter derivatives market with a plan to mitigate conflicts of interests at venues that will handle the swaps.
The Securities and Exchange Commission voted 5-0 to propose ownership limits on the swaps trading venues and clearinghouses, which will assume the risk if one party defaults. Get the full story »
Large speculators cut their record net long position in Chicago Board of Trade corn futures and options as a U.S. Agriculture Department report showing large stockpiles of U.S. corn spurred a sharp drop in prices. Get the full story »
Nasdaq OMX Group Inc., operator of the Nasdaq stock exchange, will strip information from stock orders that some traders say is too revealing.
Starting Dec. 6, Nasdaq will hide reference numbers assigned to orders meant to be invisible to the market, the exchange said Thursday in an alert to traders. Some traders were concerned that sophisticated computer programs could use those reference numbers to identify a larger pattern in orders and use that to manipulate prices. Get the full story »
CBOE Holdings Inc., the biggest U.S. options market, will launch its planned second exchange targeted at high-frequency traders between Oct. 15 and Nov. 1, Vice Chairman Edward Tilly said on Tuesday. Get the full story »
CME Group Inc.’s daily trading volume rose in September and the third quarter as a whole, the exchange operator said, continuing a trend of growth. Get the full story »
Bloomberg News | A mutual fund’s routine effort to hedge against losses helped set off a chain of events that turned an orderly selloff on May 6 into a crash that erased $862 billion in U.S. equity value in less than 20 minutes, according to two people with direct knowledge of regulators’ findings. Get the full story »
The Commodity Futures Trading Commission proposed new limits on Friday on the control banks and other large firms can exert over venues where over-the-counter swaps will soon have to trade and clear.
The futures regulator, rolling out some of the sweeping Wall Street reforms authorized by Congress, is trying to strike a tricky balance between opening up the opaque $615 trillion OTC swaps market without exposing clearinghouses, exchanges and swap execution facilities to undue risk. Get the full story »
