The United States said on Friday it had asked the World Trade Organization to decide on two disputes with China, one on restrictions Beijing has imposed on U.S. specialty steel exports and the other on access to its credit and debit card market. Get the full story »
Inside these posts: trading
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Grain rally forces large specs to cover shorts
Large speculators cut back on their bearish exposure to U.S. grain futures as an unexpected holiday season rally forced traders to cover short positions. Get the full story »
CME more optimistic on CFTC position limits
The top U.S. futures exchanges expressed confidence that a revised plan to clamp down on commodities market speculation will not unduly burden the market.
The comments on Wednesday by the chief executives of IntercontinentalExchange and CME Group were more optimistic than in the past, when exchanges, banks and other market participants sharply criticized the U.S. Commodity Futures Trading Commission’s plan. Get the full story »
CME initiates margins on energy option products
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 »
SEC proposes rules for swap dealers
U.S. regulators introduced proposals on Friday that will determine which companies will be forced to hold more cash in order to trade in the lucrative over-the-counter derivatives market. Get the full story »
U.S. judge closes part of Goldman secrets trial
A U.S. judge closed to the public parts of testimony in the trial of a former computer programmer accused of stealing secret high-frequency trading code from Goldman Sachs Group Inc.
U.S. District Judge Denise Cote said from the bench on Thursday that she was granting a government application to seal parts of testimony of three witnesses, all of them employees at Wall Street’s most influential bank.
Prosecutors allege that programmer Sergey Aleynikov stole critical parts of Goldman’s top-secret high-frequency trading program in June 2009 before going to a new job with Teza Technologies LLC, a speed-trading start-up firm in Chicago. Get the full story »
CFTC won’t make January position limits deadline
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 »
CFE extends trading hours for VIX Futures
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 »
CBOE profit up 41% on new fees
CBOE Holdings Inc., which operates the biggest U.S. market for stock and stock-index options, said profit last quarter rose 41 percent, driven by new trading access fees and lower expenses. Get the full story »
CME Group 3Q profit up, in line with Street view
CME Group Inc., the world’s biggest futures exchange operator, said third-quarter profit rose in line with Wall Street expectations, as an increase in trading helped buoy the bottom line.
Net income jumped 21 percent to $244 million, or $3.66 per share, from $202 million, or $3.04 a share, in the year-earlier quarter. Revenue rose 13 percent to $733 million, as trading increased 14 percent. Get the full story »
CME to start trading new rainfall contracts Nov. 1
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 »
CME Group daily trading volume up in September
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 »
Corn prices again touch 2-year high
Corn prices have been on a nearly unchecked climb since late July and are approaching the psychological $5-a-bushel level. The price of corn for December delivery rose as high as $4.975 a bushel during trading Wednesday before falling back to settle at $4.9525 a bushel. Corn rices have jumped more than 25 percent since the end of July.
CBOE Futures Exchange launches first VIX options
CBOE Futures Exchange LLC said early on Thursday that it will launch its first weekly options on its volatility futures contract, which would expand the exchange’s portfolio of derivative contracts tied to market volatility. Get the full story »
SEC’s Schapiro: ‘Flash Crash’ report by month’s end
The top U.S. securities regulator said on Tuesday that the follow-up report on what might have caused the May “flash crash” is expected by the end of September. Get the full story »
