Futures (Cedar Falls, IA) articles from August 2007

Futures (Cedar Falls, IA) archives from August 2007

Chicago is no second city.(EDITOR'S NOTE)
August 1, 2007... After victory was declared by the Chicago Mercantile Exchange (CME) on the bidding war for the Chicago Board of Trade (CBOT) in the late afternoon of July 9, the skies opened up and it poured rain in Chicago. No doubt, Ceres, the goddess of...

Ice frozen out: CBOT hits CME bid.(Trendlines)
August 1, 2007... From the moment the Intercontinental Exchange (ICE) announced its unsolicited bid for the Chicago Board of Trade (CBOT) on March 15, it seemed within the Chicago Mercantile Exchange's (CME) power to end the debate and close the deal by simply...

Amaranth hangover: more energy regs?(Trendlines)
August 1, 2007... A Senate committee led by Sen. Carl Levin (D-Mich.) issued a report in July claiming that excessive speculation by hedge fund Amaranth Advisors caused wild price swings in natural gas markets in 2006 and "socked consumers with higher prices."...

Bad option: BMO losses objectionable.(Trendlines)(Bank of Montreal)(Optionable Inc.)(Nymex Holdings Inc.)(Brief article)
August 1, 2007... The Bank of Montreal (BMO) now says it has lost as much as $615 million trading natural gas at Optionable Inc., the Valhalla, N.Y. based energy brokerage, which is partially owned by Nymex Holdings Inc., parent of the Nymex. Since the...

Chartview: CME/CBOT close deal.(Trendlines)(Chicago Mercantile Exchange Inc.)(Board of Trade of the City of Chicago Inc.)(Calendar)
August 1, 2007... Oct. 17, 2006 CME/CBOT announce definitive merger agreement. CME to pay $8 billion for CBOT. New company to be called CME Group Inc., a CME/Chicago Board of Trade Company. Jan. 24, 2007 CME announces post merger leadership. Terry...

ICE finds a willing seller.(International News)
August 1, 2007... ICE has agreed to acquire the Winnipeg Commodity Exchange (WCE), its clearing operations and physical delivery structure, for CAN $40 million, or CAN $62.08 per common share. The agreement is subject to the approval of WCE shareholders and the...

Borsa London?(International News)(merger of Borsa Italiana S.p.A. and London Stock Exchange PLC)(Brief article)
August 1, 2007... The London Stock Exchange (LSE) looks set to buy Borsa Italiana for [euro]1.6 billion euros ($2.15 billion dollars), forming a [euro]5.777-billion rival to both NYSE-Euronext and Deutsche Boerse. The new entity will not only be the continent's...

TSE claims SGX stake.(International News)
August 1, 2007... The Tokyo Stock Exchange (TSE) announced in June that it had acquired a 4.99% stake in Singapore Exchange Ltd. (SGX) Last December TSE agreed in principal to license its Topix-related indexes to SGX to create derivatives on them and to explore...

Shanghal/mumbal connection.(International News)
August 1, 2007... The Multi Commodity Exchange of India (MCX) and Shanghai Futures Exchange of China in June signed a memorandum of understanding to share knowledge and expertise. Both exchanges trade metals and agricultural commodities.

TSX sues rival.(International News)
August 1, 2007... TSX Group Inc. is suing the operator of upstart stock exchange rival Pure Trading for $101 million, alleging the new market illegally used trading system specifications prepared by Toronto-based TSX to speed up its launch. TSX alleged in a...

Fireworks at Lake Shore.(Managed Money Review)(Lake Shore Asset Management Limited)
August 1, 2007... The Commodity Futures Trading Commission (CFTC) filed a contempt of court motion against Lake Shore Asset Management Limited (LAM) for refusing to open its books, and a judge has frozen $238 million the firm has on deposit with its brokers. ...

Corrections.(Correction notice)
August 1, 2007... In "Managed Money Review," July 2007, the May and year-to-date returns as of May for Morgan Stanley Charter Aspect L.P. are 6.31% and 3.80%, and 5.64% and 0.15% for Morgan Stanley Charter Campbell. In the same issue, the Barclay Hedge Fund...

Lukken to head CFTC, for now.(Trading Places)(Walter Lukken)(United States. Commodity Futures Trading Commission)(Brief article)
August 1, 2007... Walter Lukken will be acting chairman of the Commodity Futures Trading Commission (CFTC). Lukken has been a CFTC commissioner since 2002 and has headed the CFTC's Global Markets Advisory Committee. Prior he was counsel at the U.S. Senate...

PricewaterhouseCoopers.(Trading Places)
August 1, 2007... Hank Mlynarski has joined PricewaterhouseCoopers as a managing director. Previously he served as a director and head of corporate development for Eurex US and president of BrokerTec Futures Exchange.

Steve McMillan is now CEO of International Mercantile Exchange Holdings LLC, promoters of the first energy exchange in Qatar.(Trading Places)
August 1, 2007... Steve McMillan is now CEO of International Mercantile Exchange Holdings LLC, promoters of the first energy exchange in Qatar. Previously he was CEO of GFI Group Ltd, Europe.

Communicating Ltd.(Trading Places)
August 1, 2007... Michael McErlean is now director of business development for Communicating Ltd, a U.K.-based software company. Previously he was director of sales and marketing for Eurex US.

Carl Kennedy is now legal counsel for the Managed Funds Association.(Trading Places)
August 1, 2007... Carl Kennedy is now legal counsel for the Managed Funds Association. Previously he was in the public finance department and tax group at Ballard Spahr Andrews & Ingersoll LLP.

Clive Pedder was named CEO of GL Trade London.(Trading Places)
August 1, 2007... Clive Pedder was named CEO of GL Trade London. Previously he was CEO of asset management for Misys plc.

Chicago Mercantile Exchange.(Trading Places)
August 1, 2007... Julie Holzrichter, has been promoted to managing director, operations at the Chicago Mercantile Exchange.

The Clearing Corp.(Trading Places)
August 1, 2007... Michael C. Dawley, James G. McCormick and Peter J. McLady were elected directors at The Clearing Corp.

Gain Capital Group LLC.(Trading Places)
August 1, 2007... Glenn Stevens has been promoted to CEO of Gain Capital Group LLC. Previously he was managing director.

Pounding the dollar.(Hot Commodities)(Brief article)
August 1, 2007... The British pound sterling surged to all-time highs against the U.S. dollar in early July as British interest rates continue to rise. "The U.S. interest rate policy is no longer setting the tone for the rest of the world," says Todd Gordon,...

Bloated supply.(Hot Commodities)(Brief article)
August 1, 2007... All the drama in the natural gas markets is on Capital Hill. Since early June, inventories have picked up and prices have plunged from $8.40 per MMBtu to around $6.50. "It's simple. There is more than we need. There is no weather," says Dean...

Wild weather whips wheat.(Hot Commodities)
August 1, 2007... In early July, wheat was trading at historic highs based on global supply and demand fundamentals. "We have a very short supply from the stocks-to-usage basis globally, and our domestic supply and demand situation is tight," says Doug Carper,...

U.S. equities highwire act: the U.S. equities bull run has been impressive as market indexes have climbed a wall of worry to set record highs, but can it last? Our analysts examine what is behind the recent rally and discuss the current fundamental factors that could affect the market's direction through year end.(MARKETS)(Cover story)
August 1, 2007... Equity markets in the United States, with the exception of the sharp correction in February and March, have marched consistently higher since July 2006, breaching record levels. But with a significantly weaker U.S. dollar and slowing economic...

Tech talk: Cycles lead way.(MARKETS)(Standard and Poor's Corp.)
August 1, 2007... As noted previously in this space (see "Tech Talk," March 2007), 2007 may trace out a very meaningful cycle point. The August-September time frame has the potential to produce the most meaningful pivot of the entire decade. For those of...

New COT report signals opportunities.(Market Strategy)
August 1, 2007... Since the beginning of the year, the Commodity Futures Trading Commission (CFTC) has been issuing a "Supplemental Commitments of Traders Report" each week that breaks out the reportable positions of the Commodity Index Traders (CIT) in 12...

Smarter forex regulation.(Forex Trader)
August 1, 2007... An important aspect of trading spot forex is the fact that the price the trader sees is an artificial creation of the firm the trader is trading with. In a currency futures contract, and in an equity trade, the price at any given moment that is...

Taking stock of opportunities abroad: U.S. discount brokerages are offering investment in stocks listed overseas. This presents opportunities for numerous trading techniques.(EQUITY TRADING TECHNIQUES)
August 1, 2007... The pieces are in place for U.S. discount brokerages to begin allowing direct investment in stocks listed on overseas exchanges through online trading accounts. Ultimately, the fallout for the U.S. equity markets could be huge. Most important,...

Getting started in day-trading: so you want to be a day-trader? Only certain individuals and approaches succeed in the daily grind of the markets. This series will examine what types of traders and trading techniques work best for day-trading.(TRADING TECHNIQUES)
August 1, 2007... The allure of day-trading is undeniable: Be your own boss, create your own schedule, work from home and make a fortune. That is the dream of thousands of day-traders. A few will experience much of the success they seek while most will lose...

Taking action in the E-mini: price-action lines are simple setups that work surprisingly well on a five-minute E-mini candlestick chart. With patience, practice and a flexible mindset, they can be a versatile tool for the discretionary day-trader.(TRADING TECHNIQUES)
August 1, 2007... You learn a lot about what doesn't work day-trading the S & P market for two decades, but luckily, if you don't try to get too complex, you also can stumble upon a setup or two that work quite well. Once such technique is based on price action...

In the shadow of the liquidity mirage: for many traders, the London and European trading hours are the most advantageous. But the so-called ideal trading time, which straddles the end of Asia trading and the beginning of the U.S. sessions, may be more dangerous than it appears.(TRADING TECHNIQUES)
August 1, 2007... Globalization has created four distinct blocks: Asia, Europe (dominated by London), the United States and the Middle East. With the Internet allowing effectively instantaneous communication between these blocks, the retail market has become...

Technology for spread traders: new applications are breathing new life into grain spread trading strategies. This second of a two part series shows how to conduct objective spread analysis and how to develop mechanical systems for spread trading that can be backtested.(TECHNOLOGY & TRADING)
August 1, 2007... When trading moved into the modern age, with sophisticated trading system development software that gave individual traders the ability to test their ideas on the market without adding a professional programmer to the payroll, certain...

Software round-up: data, order entry, speed, charting, analysis--these are some of the main features you look for in trading software--not to mention education and cost. Finding the one that suits you best can seem overwhelming, but not if you focus on the main points. Here is the first of a milti-part series on trading software.(FUTURES 101)
August 1, 2007... It probably wouldn't be wise to just pick a trading software or platform out of a hat when you're starting out. There are too many to choose from, with many differences and similarities and pricing packages. Most offer all the essentials, and...

Trading Technologies International Inc.(TECHNOLOGY)
August 1, 2007... Trading Technologies International Inc. (TT) will connect its X_TRADER[R] 7 order-entry platform to the London Metal Exchange (LME) in late 2007. TT's LME gateway will provide access to futures on LME's suite of non-ferrous metal products, plus...

Globaltec.(TECHNOLOGY)
August 1, 2007... Globaltec has launched Wizetrade TV, an online TV network dedicated to stock traders, offering 12 hours of daily real-time online financial programming. Wizetrade TV will provide on-air analysis of viewers' stock picks by professional...

SunGard's RegNMS.(TECHNOLOGY)
August 1, 2007... SunGard's RegNMS-ready version of its BRASS solution suite is now available. Enhancements for order management and direct market access help provide sell-side equity trading firms with access to liquidity and introduce capabilities to satisfy...

NinjaTrader LLC.(TECHNOLOGY)
August 1, 2007... NinjaTrader LLC has released NinjaTrader 6, a free charting, analytics, system development and trade simulation for futures, forex and equities. www.ninjatrader.com.

TradeStation.(TECHNOLOGY)
August 1, 2007... TradeStation's new forex platform enables the design, back-testing and automation of strategies based on inside, interbank spreads, and direct execution from the TradeStation order bar, market depth window and through macros or full automation....

Orc Software.(TECHNOLOGY)
August 1, 2007... Orc Software has released CameronFAST, an open architecture framework enabling ease of integration with other applications, delivered with sample FAST applications including FASTEncoder, FASTDecoder and FIXFASTProxy.www.orcsoftware.com.

Interbank FX.(FOREX)
August 1, 2007... Interbank FX has launched Interbank FX University, offering free educational resources to retail and professional forex traders, and will add video, audio and flash covering the basics of the forex market to technical and fundamental analysis...

London Metal Exchange.(EXCHANGES)
August 1, 2007... The London Metal Exchange now trades regional futures contracts for polypropylene and linear low density polyethylene. Prices are now established and published by the exchange for Asia, North America and Europe. Also, the LME launched a...

Eurnonext Liffe.(EXCHANGES)
August 1, 2007... Eurnonext Liffe will extend trading hours for its benchmark Euribor interest rate futures contract to incorporate the Asian trading day. www.euronext.com.

HedgeStreet Exchange.(EXCHANGES)
August 1, 2007... The HedgeStreet Exchange will launch corporate action contracts to trade on anticipated revenues and earnings of publicly owned corporations, including Wal-Mart Inc. and ExxonMobil Corp. Liquidity is provided by Susquehanna International Group...

Minneapolis Grain Exchange.(EXCHANGES)
August 1, 2007... The Minneapolis Grain Exchange (MGEX) has extended the pre-open session of its electronic agricultural futures. The pre-open session now begins at 6:30 a.m. Also MGEX and Allendale Inc. now are publishing trading tips every Tuesday afternoon....

Intercontinental Exchange.(EXCHANGES)
August 1, 2007... Intercontinental Exchange announced electronic trading in index futures contracts offered by the New York Board of Trade, including the U.S. Dollar Index and the Russell 1000 full-size and mini-sized indexes. www.theice.com.

New York Mercantile Exchange.(EXCHANGES)
August 1, 2007... The New York Mercantile Exchange will offer options for crude oil, natural gas, gold and silver on the Chicago Mercantile Exchange's Globex platform. www.nymexoncmeglobex.com.

Chi-X.(DATA AND BROKERAGE)
August 1, 2007... Software developer Arcontech has announced the first independent feed handler for Chi-X, the new pan-European ATS. Chi-X offers its market data at no cost to qualifying organizations. www.chi-x.com.

Interactive Brokers.(DATA AND BROKERAGE)
August 1, 2007... Interactive Brokers has added Hong Kong stocks and warrants to its direct access platform. Interactive Brokers continues to offer the Hang Seng Index and other Hong Kong futures contracts. www.interactivebrokers.com/en/trading/products.php.

optionsXpress Holdings Inc.(DATA AND BROKERAGE)
August 1, 2007... optionsXpress Holdings Inc. has launched real-time portfolio margining to eligible customers of its broker-dealer subsidiaries, as well as real-time margin calculations and a suite of trade entry and position analysis tools for portfolio...

Rand Financial Services Inc.(DATA AND BROKERAGE)
August 1, 2007... Rand Financial Services Inc. now offers access to the Dubai Mercantile Exchange, offering clients a transparent and liquid market for the trading crude oil futures and other petroleum based products. www.rand.com.

Option writers roll with shock: option writing has become more popular, but remains risky. The recent volatility spike helped to separate the wheat from the chaff.(MANAGED MONEY)
August 1, 2007... One of the fastest growing managed futures strategies is also the one that comes under the most suspicion: option writing. The reason for its popularity is simple: it works. The reason for suspicion is equally easy to understand: there often...

Correction.(Correction notice)
August 1, 2007... In "Commodity Indexes getting more complex," July 2007, we misidentified Michael Magers' company. He is with Barclays Global Investors. Futures regrets the error.

2007 public funds returns (through June 30).(Funds Review)(Statistical table)
August 1, 2007... Unit Starting value Change Trading Date unit through for Name of fund advisor(s) started value...

The green, green grass of Europe: a decade ago, the United States was where stock issuers floated their shares, these days London has become more popular. Here's a look at changes being contemplated on both sides of the Atlantic.(TRADE TRENDS)
August 1, 2007... You can't accuse U.S. Treasury Secretary Henry M Paulson, Jr., of ignoring expert advice. His recently-announced "capital markets competitiveness action plan" (see "Paulson's Plan," page 64) is a direct response to expert criticism of the way...

Contract dates.(Dateline)(Calendar)
August 1, 2007... 1 LTD: BM & F iBrX 50 F. [TABLE OMITTED] 2 LTD: CME Jul Milk F,OF, Jul Weather F, Jul Mid-sized milk OF. 3 LTD: CBOT Ethanol F, CME Live cattle OF, Currencies OF, Peso OF, Live cattle OF, Euronext-Liffe Corn F, Nybot Currencies OF,...

Events coming up.(Calendar)
August 1, 2007... Call the numbers listed for more information. For other seminars, see the classifieds on pages 69-73. SFOA 28TH Burgenstock Meeting. SEPT. 5-8. Montreux, Switzerland. http://burgenstock.sfoa.org. Forex Trading Expo. SEPT. 15-16....

Paskewitz's contrarian approach wins in S & P.(Trader Profile)
August 1, 2007... Paskewitz Asset Management (PAM) was created when its founder, Bradford Paskewitz, decided to do something more challenging with his skills in artificial intelligence and statistics, so he designed a program to capture tops and bottoms in the...