By Kevin Morrison – The New York Mercantile Exchange is racing to be ready to start trading oil futures contracts from its new European base in Dublin on Monday, the day its rival, London-based International Petroleum Exchange, is set to cut back its hours of open outcry trading. Telephone engineers were on Thursday still working […]
Archive | October, 2004
Brazil’s Real Declines 1st Day in 3 on China Export Outlook
Oct. 28 (Bloomberg) — Brazil’s currency fell for the first day in three after China boosted interest rates, raising investor concern that demand for the country’s main commodity exports such as steel and soybeans will decline. China’s central bank today raised its benchmark interest rate for the first time in nine years, stepping up efforts […]
CFTC Files Trading Fraud Charges
The Commodity Futures Trading Commission has settled an administrative action against futures trader John Hucko for engaging in a trading scheme that defrauded his firm, SMW Trading Co. According to the CFTC, for the six months beginning in October 2001, Hucko worked for the Chicago firm and assigned profitable trades to an SMW proprietary account […]
Will coffee plus conscience give prices a boost?
By Russell Blinch – SINGAPORE (Reuters) – It’s the world’s second biggest commodity and it’s an indispensable fuel for many, but unlike oil there are no looming shortages and prices are anything but healthy. Although it would be hard to tell after a trip to the gourmet coffee shop, coffee has suffered five years of […]
Over 50 Customers Now Connected to CME European Hubs
CHICAGO and MILAN, Italy, Oct. 25 /PRNewswire-FirstCall/ — CME, the largest U.S. futures exchange, today announced that IWBank, the online bank of BPU Group in Milan, and FinecoBank, the online bank of Capitalia Group, have become the first Italian customers to initiate direct access to CME Globex through the exchange’s new telecommunications hub in Italy. […]
Dalian exchange set to launch GMO soyabean futures
China, the world’s top soya importer, will launch futures contracts for genetically modified soyabeans on the Dalian Commodity Exchange on November 18, an industry source said. “The contracts have been approved [by the government] and will be traded on the Dalian Commodity Exchange from November 18,” the source said. The exchange spokesman in Beijing declined […]
How Will Stocks, Bonds And Currencies Respond To Election Results?
By Kathy Lien strategist@dailyfx.com – With less than 2 weeks until the US Presidential Elections, traders are looking for clues as to how stocks, bonds and currencies may respond to a Bush or Kerry victory. With neither of the candidates having a significant lead over the other, the one thing that is clear based upon […]
Leading oil trader to open exchange in Dublin
The world’s largest energy dealer is to open a trading floor in Dublin’s financial heartland, it emerged today. New York Mercantile Exchange, international dealers in Brent crude oil and precious metals such as gold, silver and platinum, revealed the centre could be up and running within weeks offering open-floor trading. Deirdre Lyons, IDA international financial […]
OCC, OIC Announce New Volume Records
CHICAGO, Oct. 19 /PRNewswire/ — The Options Clearing Corporation (OCC) and The Options Industry Council (OIC) announced today new annual records for total and equity options volume. Volume highlights include: — Year-to-date total options volume on Oct. 15 hit 911,995,006 contracts and set a new annual record for total options. This volume surpasses 2003’s record […]
CME Launches Implied Butterfly Spread Functionality for Electronic Trading of CME Eurodollars
CHICAGO, Oct. 18 /PRNewswire-FirstCall/ — CME, the largest U.S. futures exchange, announced today that it has launched new implied butterfly spread trading functionality for CME Eurodollars on Globex(R), the exchange’s electronic trading platform. The new butterfly spread functionality is similar to what currently exists for electronic Eurodollar calendar trades, but now allows users to more […]