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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 »
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 »
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 »
The futures regulator will miss a mid-January deadline to finalize its long-awaited plan to limit speculative positions held by commodity traders, an agency official said on Wednesday.
“At this point we’re not going to make the deadline,” Jill Sommers, a commissioner at the Commodity Futures Trading Commission, told Reuters. “I don’t see how we make the January deadline.”
Once the CFTC introduces the rule it is required to open it to public comment for at least 30 days, review those comments, determine any revisions, then finalize it. Get the full story »
Shares of market exchange operator CME Group Inc. rose Wednesday after an analyst upgraded them from “hold” to “buy.” Get the full story »
The CBOE Futures Exchange, a subsidiary of CBOE Holdings Inc., said on Tuesday that it has changed the daily opening time for the trading of futures on the CBOE Volatility Index. VIX effective Dec. 10, pending regulatory approval. Get the full story »
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 »
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 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 »
Caterpillar Inc. said late Friday that it plans to delist its common stock from the Chicago Stock Exchange to streamline operations and eliminate redundancies that occur from dual listings. The withdrawal is expected to be completed within a month. Get the full story »
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 »
