April 7, 2005

 

Lead Stories

 

US SEC, CFTC said near hedge fund registration pact

WASHINGTON, April 6 (Reuters) - U.S. commodities regulators said on Wednesday they were close to agreeing with their securities counterparts on how to register hedge funds that invest in a range of investments including commodities.  The Commodity Futures Trading Commission (CFTC) is seeking exemptions for some of its hedge fund registrants from having to also register under a new Securities and Exchange Commission (SEC) rule.

http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=8106609

 

Opening of ‘Deutsche Börse Photography Prize 2005’ Exhibition

http://deutsche-boerse.com/dbag/dispatch/en/listcontent/gdb_navigation/press/10_Latest_Press_Releases/Content_Files/13_press/pm_news_070405_photoprice.htm

 

Outcry as pit traders forced to go hi-tech

THEY were called "barrow boy spivs" and "thugs" by 35 protesting Greenpeace activists whose attempts to interrupt their work were met with an unseemly fight that ended up with the protesters’ violent expulsion from London’s International Petroleum Exchange.  But from tomorrow, London’s oil pit traders will begin a fight of a different kind - one to save a tradition going back 25 years.  At the close of trade today, the trading "pit" at the IPE, where more than £280 billion of oil contracts are traded annually and where 60 per cent of the world’s oil prices are set, will fall silent.  Tomorrow, the manic yelling and frantic hand signalling of traders in bright blazers will be supplanted with the relative silence of electronic trading.  The "open outcry" system, was described by the Economist magazine as an "anachronism".

http://edinburghnews.scotsman.com/business.cfm?id=367482005

 

Technical fault leaves IPE traders fuming

Electronic trading in Brent crude oil futures on London’s International Petroleum Exchange was suspended on Thursday due to a technical fault just a day before the IPE is to move to fully electronic trading.  Trading resumed at about 1150 GMT after the system had been down for about an hour-and-a-half in total. One restart attempt had failed.  The cause of the outage was not immediately known and the IPE declined to comment.  A trader at Man Financial, one of the biggest brokerages in Brent futures, said: “We have lost about a third of our morning [trading] volume.”

http://news.ft.com/cms/s/ccfd8b5c-a75c-11d9-9744-00000e2511c8.html

 

**** See John’s Comments.

 

London traders plan to survive in Dublin 

Lee Vandermolen and his colleagues look like ordinary tourists as they walk through Dublin's international airport.  But for the gas oil traders of KCM Energy the trip is no holiday; it is the first of many long-distance commutes that will determine whether or not their way of doing business survives.  The four men are open outcry traders and spend their days face-to-face with rivals, jostling for position in the crowded pit of London's International Petroleum Exchange (IPE).

http://news.bbc.co.uk/2/hi/business/4415779.stm

 

London Oil Exchange Ends Floor Trading as Nymex Enters Europe

U.S. April 7 (Bloomberg) -- The International Petroleum Exchange, the world's second-largest oil exchange, today will close its London trading floor after 17 years and move its markets online, seeking to save money as competition increases.

http://www.bloomberg.com/apps/news?pid=10000103&sid=aL3fR6YD75s8

 

Open outcry trading to end on IPE 

Open outcry trading is set to stop at London's International Petroleum Exchange (IPE) on Thursday, ending almost 25 years of noisy business.  IPE is switching to a fully electronic system, a move it says will better meet client needs and boost efficiency.  Many traders, who work in multicoloured jackets, shout orders and use hand signals, are unhappy with the move.  They will relocate to a rival exchange in Dublin that is being run by the New York Mercantile Exchange (Nymex).

http://news.bbc.co.uk/2/hi/business/4415905.stm

 

Pit closure prepares IPE for battle

LONDON (Reuters) - London's International Petroleum Exchange's decision to scrap open outcry trading is a high-risk strategy in its battle to fend off competition from rival the New York Mercantile Exchange.

http://www.reuters.co.uk/newsArticle.jhtml?type=reutersEdgeNews&storyID=703000&section=finance&src=rss/uk/featuresNews

 

Final bow for City's oil trading pit

London oil traders famed for stripy blazers and frenzied hand signals took their final bow today as the high-tech era claimed another victim in the City.

http://www.sbpost.ie/breakingnews/breaking_story.asp?j=73680244&p=7368x6y8&n=73680715&x=

 

NYBOT March Volume Up 16% YTD

http://www.nybot.com/releases/pressRelease.asp?releaseID=861

 

Statement by SEC Chairman:

Opening Statement at Commission Open Meeting of April 6, 2005, re: Regulation NMS

http://www.exchange-handbook.co.uk/news_story.cfm?id=52246

 

SEC's Donaldson Casts Deciding Trade-Through Vote (Update5)

April 6 (Bloomberg) -- U.S. Securities and Exchange Commission Chairman William Donaldson cast a deciding vote to extend a rule that guarantees all investors get the best price on electronic stock trades.

http://www.bloomberg.com/apps/news?pid=10000087&sid=aByLfMB_j7EQ

 

SEC approves sweeping market overhaul

WASHINGTON (Reuters) - A sweeping plan to reshape the stock markets with new rules on trading and prices was adopted Wednesday in a 3-2 vote by the U.S. Securities and Exchange Commission after stinging debate.

http://money.cnn.com/rssclick/2005/04/06/markets/sec_rule.reut/index.htm?section=money_latest

 

Brokers must take best price quoted

NEW YORK (AP) -- A divided Securities and Exchange Commission yesterday narrowly approved a new regulation requiring brokers to accept the best quoted price for any transaction, no matter which market it comes from.  While proponents hailed the move as a protection for individual investors, some of Wall Street's trading houses said the rule would hamper competition and limit investors' options.

http://washingtontimes.com/business/20050406-101007-6145r.htm

 

Yipes Launches Scalable Electronic Trading Solution

Yipes Enterprise Services, Inc. today announced the availability of Yipes FinancialConnect!, a scalable network solution that provides banks, brokers, hedge funds, institutional investors and investment managers with simple, scalable and cost-effective access to the largest Exchanges, ECNs, liquidity pools and trading platforms.

http://biz.yahoo.com/prnews/050407/deth014.html?.v=5

 

***** As I have written before, I like Yipes.  They are well worth a look.

 

Broker or Adviser? The SEC Mulls

The two roles have merged in the public eye, as even the agency now acknowledges. Its next step: Coming up with a single set of rules

http://www.businessweek.com/bwdaily/dnflash/apr2005/nf2005047_1299.htm

 

Environmental Trading News

 

Let’s keep the sky blue, why don’t you trade a few CO2.

 

Exchange News

 

CBOT to Observe Moment of Silence in Honor of Pope John Paul II

The CBOT announced today that it will honor Pope John Paul II with a minute of silence on Friday, April 8, 2005.

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1036+27519,00.html

 

CBOT Strike Price Notice, April 06, 2005

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1032+27506,00.html

 

Margin Revisions

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1032+27518,00.html

 

Denali Upgrade

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1032+27498,00.html

 

Exchange Announces Margins for New Gasoil Futures Contract

http://www.nymex.com/jsp/news/press_releas.jsp?id=pr20050406a

 

NYSE Seat Sells for $1,600,000

http://www.nyse.com/press/1112783875468.html

 

NYSE Seat Sells for $1,615,000

http://www.nyse.com/press/1112783874569.html

 

Exchange will be Open for Business on Friday, April 8

http://www.nymex.com/jsp/shareholder/notice_to_member.jsp?id=ntm149&archive=2005

 

Gold Options (OG) on NYMEX ACCESS®

http://www.nymex.com/jsp/shareholder/notice_to_member.jsp?id=ntm148&archive=2005

 

Updated List of All NYMEX Division Inter-Commodity Spread Credits

http://www.nymex.com/jsp/shareholder/notice_to_member.jsp?id=ntm146&archive=2005

 

Margin Rates, Intra-Commodity Spread Tiers, and Inter-Commodity Spread Credits for New NYMEX Northwest Europe Gasoil Futures Contracts (GR) 

http://www.nymex.com/jsp/shareholder/notice_to_member.jsp?id=ntm145&archive=2005

 

Julie Nixon Eisenhower to Ring Bell on Wednesday, April 13, at PHLX

http://www.phlx.com/news/pr2005/05pr040705.htm

 

PHLX to Observe a Moment of Silence In Honor of Pope John Paul II On Friday, April 8

http://www.phlx.com/news/pr2005/05pr040605a.htm

 

PHLX Announces March Volume

http://www.phlx.com/news/pr2005/05pr040605.htm

 

Rules for futures market softened RECORDER REPORTKARACHI (April 07 2005): The Karachi Stock Exchange (KSE) while

KARACHI (April 07 2005): The Karachi Stock Exchange (KSE) while softening rules related to futures market has said, "No netting, whatsoever, shall be allowed, from retained profits, till final settlement of the contract, which would be implemented from Friday weekly clearing (April 8)". The board of directors of the exchange in its emergent meeting held on Wednesday reviewed its earlier decision

http://www.brecorder.com/index.php?id=225955&currPageNo=1&query=&search=&term=&supDate=

 

KCBT To Hold Moment Of Silence In Honor Of Pope John Paul II

http://www.exchange-handbook.co.uk/news_story.cfm?id=52262

 

Stockholm Stock Exchange Adopts The Swedish Code Of Corporate Governance

http://www.exchange-handbook.co.uk/news_story.cfm?id=52255

 

Tokyo Stock Exchange Monthly Trading Volume & Value

http://www.exchange-handbook.co.uk/news_story.cfm?id=52252

 

TSX Statistics March 2005

http://www.exchange-handbook.co.uk/news_story.cfm?id=52247

 

CBOE and CFE To Observe Moment of Silence To Honor Pope John Paul II

CHICAGO, April 7, 2005 – The Chicago Board Options Exchange (CBOE) and the CBOE Futures Exchange (CFE) announced that a moment of silence will be observed at CBOE and CFE to honor the memory of Pope John Paul II, from 8:29 a.m. to 8:30 a.m. (Chicago time, CDT) on Friday, April 8, 2005.

www.cboe.com

 

Regulatory News

 

The SEC News Digest

The SEC News Digest provides daily information on recent Commission actions, including enforcement proceedings, rule filings, policy statements, and upcoming Commission meetings.

http://www.sec.gov/news/digest/dig040605.txt

 

Remarks of Acting Chairman Sharon Brown-Hruska before the CFTC's CPO and Commodity Pool Roundtable 

http://www.cftc.gov/opa/speeches05/opabrown-hruska-30.htm

 

US lawmaker wants probe of oil futures trading

WASHINGTON (Reuters) - A U.S. Congress member from Connecticut asked the Government Accountability Office to investigate whether the Commodity Futures Trading Commission is adequately policing hedge funds that trade petroleum futures on the New York Mercantile Exchange, an aide said on Wednesday.

http://channels.netscape.com/ns/news/story.jsp?id=2005040615420002002505&dt=20050406154200&w=RTR&coview=

 

SEC Regulation NMS

6 Apr 2005: NYSE Statement on SEC Regulation NMS

http://www.nyse.com/about/newsevents/1103328085330.html

 

View remarks by Mary L. Schapiro, Vice Chairman, NASD President, Regulatory Policy & Oversight from the SIA Compliance & Legal Division Conference on April 4, 2005.

http://www.nasd.com/web/idcplg?IdcService=SS_GET_PAGE&nodeId=5&ssSourceNodeId=5

 

NASD Offers Firms Best Practices for Reviewing New Investment Products

http://www.nasd.com/web/idcplg?IdcService=SS_GET_PAGE&nodeId=5&ssSourceNodeId=5

 

NASD Recommends Best Practices for Reviewing New Products

http://www.nasd.com/web/idcplg?IdcService=SS_GET_PAGE&nodeId=5&ssSourceNodeId=5

 

NASD Requests Comment on Proposal to Require Pre-Use Filing of Advertisements and Sales Literature for New Types of Securities and of Television, Video and Radio Advertisements; Comment Period Expires May 20, 2005

http://www.nasd.com/web/idcplg?IdcService=SS_GET_PAGE&nodeId=5&ssSourceNodeId=5

 

NASD issues new products notice

Urges firms to improve their procedures for determining what constitutes new product

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=28362&IdSection=8&cat=8

 

SIA cheers SEC ruling on broker-dealers

Will allow broker-dealers to continue to provide broad array of investments to clients

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=28361&IdSection=8&cat=8

 

SEC votes to adopt market reforms, in split decision

Goal is to ensure investors get best price on electronic trades

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=28357&IdSection=8&cat=8

 

No action against former rep

Bourse’s jurisdiction didn’t extend after rep left industry

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=28351&IdSection=8&cat=8

 

FSA fines auditor for market abuse

http://www.fsa.gov.uk/pages/Library/Communication/PR/2005/pr034.shtml

 

Auditor fined for insider trading

A FORMER accountant at PricewaterhouseCoopers, has become the first auditor to be found guilty of insider trading under the Financial Services and Markets Act.

http://www.thisislondon.co.uk/news/business/articles/timid399502?source=

 

SIA Statement on Reg NMS

http://www.sia.com/press/2005_press_releases/03548642.html

 

SEC Ensures Investors Will Have Wide Range of Options When Choosing Financial Services

http://www.sia.com/press/2005_press_releases/03547550.html

 

SEC OK'S TRADING REG

SEC OK'S TRADING REG April 7, 2005 -- U.S. Securities and Exchange Commission Chairman William Donaldson cast a deciding vote to extend a rule that guarantees all investors get the best price on electronic stock trades.

http://www.nypost.com/business/23029.htm

 

SEC staff recommends action vs Morgan Stanley on emails

NEW YORK (AFX) -- Morgan Stanley said Wednesday in a regulatory filing that the SEC staff recommended the Commission take official action against the company regarding its handling and retention of email documents.

http://www.sharewatch.com/story.php?storynumber=71160

 

SEC applies best-price trading rule to Nasdaq  New Feature

A divided U.S. Securities and Exchange Commission has approved new rules on how stocks are traded that will keep brokers from sending trades to markets that are not offering the best prices available.

http://www.iht.com/articles/2005/04/07/business/sec.html

 

ABA Proposes Changing Threshold For Sec 404 Compliance

The American Bankers Association has recommended that the Securities and Exchange Commission adjust the threshold that determines whether a business is subject to SEC reporting requirements.

http://www.compliancereporter.com/default.asp?page=1&SID=493282&ISS=13950&pressbox=1

 

Former AIM CEO fined by SEC

Jeff Thomas Allen, former chief executive of Advanced Investments Management LP, which went out of business in 2002 after it was sued over how it invested pension fund money, has agreed to pay $175,000 to settle SEC allegations he engaged in a fraudulent trading scheme.

http://www.bizjournals.com/pittsburgh/stories/2005/04/04/daily26.html

 

FSA to check financial institutions' personal data protection

_ The Financial Services Agency has ordered all banks, insurance firms and other financial institutions nationwide to examine and report on their management of customers' personal information by June, government sources said Thursday.

http://asia.news.yahoo.com/050407/kyodo/d89akeh00.html

 

Managed Futures - Managed Funds

 

Fund Fees: The Silver Lining Has a Big Dark Cloud

Is there light at the end of the tunnel on fund fees? We're seeing some encouraging signs, but the hard data suggest we have a long way to go in delivering a better deal to the typical individual investor.

http://biz.yahoo.com/ms/050407/130874.html?.v=1

 

**** Remember, the light at the end of the tunnel might be a freight train heading right for you!

 

Van Global Hedge Fund Index Loses -0.9% Net in March

The Van Global Hedge Fund Index declined -0.9% net of fees in March according to a preliminary report released today by Van Hedge Fund Advisors International, LLC , a leading hedge fund consultant.

http://biz.yahoo.com/bw/050407/75421.html?.v=1

 

Hedge Fund Returns Back To Negative In March, by Phillip Morton, Investors Offshore.com 07 April 2005

After a positive February, hedge fund performance as measured by the S&P Hedge Fund Index finished March down by 0.55%, producing a negative year-to-date return of -0.20% for the index.

http://www.investorsoffshore.com/asp/story/storyinv.asp?storyname=19438

 

Reports

 

Bond Talk Today's Events

http://www.bondtalk.com/global.cfm?S=todaysevents

 

USDA Today

http://www.usda.gov/nass/PUBS/TODAYRPT/TODAY.HTM

 

Miscellaneous News

 

FIA Welcomes New Members

Mizuho Securities USA Inc., Chicago Climate Exchange, Deerfield Capital Management, L.L.C., Royal Blue Financial PLC, and Securities Dealing Systems Inc.

http://www.futuresindustry.org/fiahome-1927.asp

 

SIA, TBMA To Coordinate Securities Industry's Participation In TOPOFF3

http://www.sia.com/press/2005_press_releases/03544577.html

 

Abhimanyus of the financial markets

A financial market with a million Abhimanyus, who cannot exit, is a poor showpiece for global participants. It is important to rework the financial architecture to reform the illiquid stock market and integrate domestic credit markets, evolve a single yield curve and enhance the capability of participants to enter and exit the market any time. Such a reworking is required before there is talk of integrating the domestic markets into the global financial system, says R. Vaidyanathan. 

http://www.thehindubusinessline.com/2005/04/07/stories/2005040700300800.htm

 

Belzberg Technologies' Successful Launch of Direct Data products during Q1 2005

Belzberg Technologies Inc. , a leading provider of technology-based equity and options trading, today announced that it has successfully launched a rollout of new technology that integrates its trading software with high-speed market data, delivered directly from all of the major North American stock and options exchanges.

http://biz.yahoo.com/cnw/050406/belzberg_direct_data.html?.v=1

 

The Busiest Broker on Earth

Fidelity Investments' Internet operation has turned up the pressure on rivals such as Charles Schwab and even Merrill Lynch

http://www.businessweek.com/bwdaily/dnflash/apr2005/nf2005047_2278_db016.htm?campaign_id=rss_daily

 

Pickpockets on Wall Street

Taking funds out of the Social Security system to put into private investment accounts is risky business; that's why America's working families haven't bought the Bush administration's privatization proposal.  Investing in the stock market may make sense for people looking to supplement their retirement income. But substituting private accounts for Social Security's guaranteed benefits would cut the guarantee by nearly half and put millions more seniors in poverty.

http://news.yahoo.com/news?tmpl=story&u=/usatoday/20050407/cm_usatoday/pickpocketsonwallstreet

 

E*Trade Bids on Marketing Push

There are two things that drive brokerage companies: new accounts and trading activity. E*Trade (NYSE: ET - News) recently announced a couple of initiatives aimed at growing the number of accounts.

http://news.yahoo.com/news?tmpl=story&u=/fool/20050406/bs_fool_fool/111281879815

 

$29 million award in UBS in bias suit

A jury in New York ordered UBS, the largest bank in Europe, to pay more than $29 million in damages to a former saleswoman who sued the company for sex discrimination.

http://www.iht.com/articles/2005/04/07/business/ubs.html

 

SunGard Announces April 21, 2005 as Date for Release of First Quarter 2005 Financial Results

SunGard , a global leader in integrated software and processing solutions primarily for financial services and the pioneer and leading provider of information availability services, announced today that it will release first quarter 2005 financial results on Thursday, April 21, 2005, after the market closes.

http://biz.yahoo.com/bw/050407/75452.html?.v=1

 

SunGard launches trading comparison platform

Wayne, Pennsylvania-based SunGard has introduced its Loanet.Net International Compare service, a real-time interactive platform that allows participants to electronically compare securities lending transactions.

http://www.cbronline.com/article_news.asp?guid=EF36691D-A04F-4DB2-9051-87AD4A66701A

 

Morgan Stanley spat escalates

Morgan Stanley executives stepped up their attacks Wednesday on Robert Scott, the former president of the company who some dissident investors proposed to replace Chief Executive and Chairman Philip Purcell .

http://money.cnn.com/rssclick/2005/04/07/news/fortune500/morgan_stanley.dj/index.htm?section=money_latest

 

Billionaire Perelman Sues Morgan Stanley

A jury began hearing arguments this week in billionaire Ron Perelman's lawsuit against Morgan Stanley, which he accuses of covering up the failing finances of Sunbeam Corp. in a 1998 deal with the company.

http://news.yahoo.com/news?tmpl=story&u=/ap/20050407/ap_on_bi_ge/morgan_stanley_sued_1

 

Morgan Stanley Dissidents Pitch Coup

Leaders of a group seeking to unseat Morgan Stanley Chairman and Chief Executive Philip Purcell told institutional investors they would improve the Wall Street firm's profitability and employee morale if they prevail, but offered few details of how they would do it, said people attending the meeting.

http://news.yahoo.com/news?tmpl=story&u=/ap/20050407/ap_on_bi_ge/morgan_stanley_1

 

Morgan Stanley Already Feeling Wounds of War

By LANDON THOMAS Jr. More than a week since a battle between rival factions over Morgan Stanley's future flared up, it is becoming clear the victor will preside over a wounded Morgan Stanley, one that may fail to measure up to either side's quixotic vision of the storied Wall Street investment house.

http://www.nytimes.com/2005/04/07/business/07wall.html

 

Ex-Morgan Stanley Officials Seek Support to Oust CEO (Update1)

U.S. April 7 (Bloomberg) -- An effort by former Morgan Stanley executives to oust Chief Executive Officer Philip Purcell may have gained support yesterday, as shareholders packed a midtown Manhattan meeting to hear ex-President Robert Scott say why he should run the firm.

http://www.bloomberg.com/apps/news?pid=10000103&sid=arsJZnh.FORk

 

The Bear Stearns Companies Inc. to Web Cast Its Investor Education Day

The Bear Stearns Companies Inc. today announced that it will host an investor education day on Wednesday, April 13, 2005. Senior executives of the firm will discuss the various lines of business in which the firm is engaged.

http://biz.yahoo.com/bw/050406/65708.html?.v=1

 

MORGAN MELEE

April 7, 2005 -- Phil Purcell is sweating over his job running Morgan Stanley — and has hired ace lawyer Marty Lipton to help him and his board find a way out of a growing shareholder revolt.  Lipton's boardroom defense could include breaking up the company, spinning off some of its parts or selling the whole firm outright by the summer, said sources familiar with the conflict.

http://www.nypost.com/business/23033.htm

 

PERELMAN: MORGAN STANLEY HID 'FRAUD'

Even shrewd billionaire Ron Perelman got tricked by Morgan Stanley's bankers with their "carefully crafted and cleverly concealed fraud," a court was told yesterday.

http://www.nypost.com/business/23045.htm

 

$29M PAYBACK

Wronged Wall Street broker Laura Zubulake won $29.3 million yesterday against her old boss UBS for sex discrimination — but says she just wants to go back to work.

http://www.nypost.com/business/23047.htm

 

ALBANY DETOUR FOR AG: MCCALL

WHAT do you call a Democratic politician who aspires to higher office but picks a fight with Goldman Sachs?

http://www.nypost.com/business/23021.htm

 

Wall Street Clients Get Bills for the Fun

An escalating investigation into excessive gift-giving and entertainment has led Wall Street banks to do the unthinkable: get stingy with clients they are wooing.

http://online.wsj.com/article/0,,SB111282635270500112,00.html?mod=home%5Fpage%5Fone%5Fus

 

**** Online WSJ subscription required.

 

John's Comments

 

IPE Trading Issue

 

Reportedly the problem that shut down Brent Crude at the IPE was an operational issue, not a trading platform or system issue.  A bad reference price was mentioned, though greater details were not available.

 

********

 

NYMEX Ad?

 

NYMEX reportedly has an advertisement in the FT European editions saying “Coming soon to London, a champion of open outcry trading. Our floor will be fitted with the latest in technology – humans.”  The ad shows a trader sitting on an empty trading floor reading the paper with the legend “It’s awfully quiet around here” next to him.

 

 

********

 

Brent Crude Watch

 

IPE Pit Brent Volume: 83,547

IPE Electronic Brent Volume: 34,083

IPE Electronic Brent Percentage: 28.97%

 

NYMEX Brent Crude Volume: 1184

 

********

 

Chicago Electronic Trading Scorecard for April 6, 2005

 

Percent Electronic

 

CBOT: 58.22%

CME: 68.00%

CME Eurodollars: 76.75%

CME Live Cattle: 1.42%

CME Currency Products: 81.65%

CBOT Soybeans: 1.51%

 

CBOT Options: 5.18%

CME Options: 5.45%

 

Volume 

 

OneChicago Volume: 4424

Eurex US Volume: 17,828

Euronext.liffe Eurodollar Volume: 48,443

CBOE Futures Exchange Volume: 515

 

Market Share

 

CBOT 100 oz. Gold Volume: 946

NYMEX 100 oz. Gold Volume: 30,921

CBOT Share: 1.68%

NYMEX Share: 98.32%

 

CBOT 5000 oz. Silver Volume: 205

NYMEX 5000 oz. Silver Volume: 12,220

CBOT Share: 1.65%

NYMEX Share: 98.35%

 

CBOT Mini Gold Volume: 527

CBOT Mini Silver Volume: 297

 

CME Emini Russell 1000 (100X) Volume: 5249

Eurex US Mini Russell 1000 (100X) Volume: 3634

NYBOT Mini Russell 1000 (50X) Volume: 314

CFE Mini Russell 1000 (100X) Volume: 0

 

CME Emini Russell 2000 Volume: 104,572

Eurex US Mini Russell 2000 Volume: 6426

CFE Mini Russell 2000 Volume: 234

 

Notes: CME Globex Lean Hogs traded 959 contracts yesterday.

 

Liffe Eurodollar Over-Under

 

Liffe/Globex: 3.68%

Liffe/CME: 2.84%

 

Regards,

 

John J. Lothian

Publisher

John Lothian Newsletter 

www.johnlothiannewsletter.com

 

Futures Brokerage - Business Intelligence   John J. Lothian President- Electronic Trading Division The Price Futures Group, Inc. 141 West Jackson Blvd., Suite 1340A Chicago, IL 60604 jlothian@pricegroup.com johnlothian@johnlothian.com IM: LothianJohnJ http://www.pricegroupetd.com tel: tel2: fax: mobile: +1 312-264-4350 +1 800-713-0215 +1 312-264-4399 +1 312-203-5515

Add me to your address book... Want a signature like this?

 

 

Disclaimer: The John Lothian Newsletter is a product of John J. Lothian & Company, Inc.  The opinions expressed are strictly the opinion of John Lothian, and not necessarily those of his employer, The Price Group and its management, and is intended solely for informative purposes and is not to be construed, under any circumstances, by implication or otherwise, as an offer to sell or a solicitation to buy or trade in any commodities or securities herein named. Information is obtained from sources believed to be reliable, but is in no way guaranteed.  No guarantee of any kind is implied or possible where projections of future conditions are attempted.  Security futures are not suitable for all customers.

 

Futures and options trading involve risk.  Past results are no indication of future performance.

 

This is an opt-in newsletter.  If you wish to unsubscribe, please check the address of list you are receiving the newsletter from and then click on the appropriate link below.

 

mailto:johnlothiannewsletter-request@johnlothiannewsletter.com?subject=unsubscribe

 

mailto:johnlothiannewsletter1-request@johnlothiannewsletter.com?subject=unsubscribe

 

mailto:johnlothiannewsletter2-request@johnlothiannewsletter.com?subject=unsubscribe

 

mailto:johnlothiannewsletter3-request@johnlothiannewsletter.com?subject=unsubscribe

 

mailto:johnlothiannewsletter4-request@johnlothiannewsletter.com?subject=unsubscribe

 

mailto:johnlothiannewsletter5-request@johnlothiannewsletter.com?subject=unsubscribe

 

If the unsubscribe links above do not work for you, please send an email to johnlothian@johnlothian.com with unsubscribe in the subject line.

 

This is a voluntary pay newsletter.  The voluntary pay fee for a 1-year subscription is $95, or $55 for 6-months.  For more details about this, or to sign up to receive the newsletter, please go to www.johnlothiannewsletter.com.