April 27, 2005

 

Lead Stories

 

CBOE begins initiatives to boost competitiveness

(Reuters) - The Chicago Board Options Exchange on Tuesday marked it 32nd anniversary by launching two major initiatives aimed at boosting the competitive position of the largest U.S. options market.  CBOE said it had launched a new class of members called Remote Market Makers or RMMs on its hybrid trading platform and kicked off the 30-day period in which the Chicago Board of Trade full members may consider selling their CBOE exercise rights.

http://chicagobusiness.com/cgi-bin/news.pl?id=16283

 

**** Congratulations to the CBOE on 32 years of equity options trading and market innovation.

 

CBOE LAUNCHES TWO MAJOR INITIATIVES; Today Marks Exchange's Thirty-Second Anniversary

http://www.cboe.com/AboutCBOE/ShowDocument.aspx?DIR=ACNews&FILE=20050426.doc

 

Chicago Mercantile Exchange to Dual List on The NASDAQ Stock Market

CHICAGO and NEW YORK, April 27 /PRNewswire-FirstCall/ -- Chicago Mercantile Exchange Holdings Inc. (NYSE: CME - News) today announced that it intends to dual list its common stock on The Nasdaq Stock Market, Inc. (Nasdaq: NDAQ - News). Chicago Mercantile Exchange Holdings, parent of CME, the largest futures exchange in the United States, will have its listing become effective on NASDAQ under the "CME" symbol within the next several weeks.

http://biz.yahoo.com/prnews/050427/dcw031.html?.v=9

 

Merc surges to record profit

http://www.chicagotribune.com/business/chi-0504270139apr27,1,5375949.story?coll=chi-business-hed

 

Merc first-quarter profit up 54%; CBOT deal might be in cards

BY DAVID ROEDER Business Reporter

The Chicago Mercantile Exchange beat Wall Street's expectations with its first-quarter earnings Tuesday as its chief executive stated criteria for acquisitions that logically pointed to an alliance with the Chicago Board of Trade.

http://www.suntimes.com/output/business/cst-fin-merc27.html

 

**** Another gopher popping up.

 

Chicago Board of Trade to consider merger - report

HONG KONG (AFX) - The Chicago Board of Trade (CBOT) plans to consider a merger with the Chicago Mercantile Exchange (NYSE: CME - news) (CME), the Financial Times reported.  In its online edition the newspaper cited CBOT chairman Charlie Carey, who said a merger with the CME was 'one potential solution we're going to look [at] to maximise the value of this institution.'

http://uk.biz.yahoo.com/050427/323/fhcy7.html

 

***** OK, I have considered it.  My answer is no.

 

CBOT and CME warily consider link

By Jeremy Grant in Chicago

In the Chicago Board of Trade's teeming trading pits, a thumbs-up sign indicates that a deal has been finalised between two traders.

A few streets away at the Chicago Mercantile Exchange, bringing your hand down in a chopping motion is a sign that a transaction has been done.

http://news.ft.com/cms/s/afc55ba0-b6a7-11d9-aebd-00000e2511c8.html

 

***** Online FT subscription required to read this version of the gopher story.  Page 22 of the print edition in the Companies and Markets section.

 

Refco moves to avoid TT contract cancellation

By Jeremy Grant in Chicago

Refco, the world's largest privately held brokerage, was on Tuesday scrambling to prevent the cancellation of a key software contract with Trading Technologies after the software provider threatened to stop offering software on which Refco relies for a third of its futures trading.  The development is an embarrassment to Refco as it prepares to launch a $575m initial public offering.

http://news.ft.com/cms/s/c91fd982-b69c-11d9-aebd-00000e2511c8.html

 

***** Online FT subscription required.  Page 21 of the print edition in the Companies and Markets section.

 

Goldman's Take From NYSE Merger Exceeds $100 Million (Update2)

U.S. April 27 (Bloomberg) -- Goldman Sachs Group Inc.'s financial rewards for arranging the New York Stock Exchange's purchase of Archipelago Holdings Inc. exceed $100 million.

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

 

Goldman's Take on NYSE Merger Swells as Fees, Seats Disclosed

U.S. April 27 (Bloomberg) -- Goldman Sachs Group Inc.'s financial rewards for arranging the New York Stock Exchange's purchase of Archipelago Holdings Inc. became clearer as a regulatory filing disclosed the firm's advisory fees and stake in the Big Board for the first time.

http://www.bloomberg.com/apps/news?pid=10000103&sid=a216wEA0EnsY

 

Goldman chairman comes under fire in outcry over NYSE acquisition deal

Hank Paulson, chairman of Goldman Sachs, has become the target of criticism over the role the investment bank played in the New York Stock Exchange's proposed acquisition of Archipelago.

http://news.ft.com/cms/s/3af2541e-b6ba-11d9-aebd-00000e2511c8.html

 

***** Online FT subscription required.

 

The Archipelago Exchange(SM) (ArcaEx(R)) Announces New Market Making Opportunities

http://investor.archipelago.com/phoenix.zhtml?c=140290&p=irol-newsArticle&ID=701450&highlight=

 

NBOT to launch screen-based trading

Mumbai: The Indore-based National Board Of Trade Ltd (NBOT), a regional commodity exchange, may introduce screen-based forward trading system soon.

At present, forward trading in soyabean and rapeseed/mustard is carried out at the exchange with an outcry system.  "We are in the process of replacing the outcry system gradually by introducing screen-based trading. It is in the advance stage," A.S. Jeyakumar, Executive Director, NBOT told Business Line.

http://sify.com/finance/fullstory.php?id=13728139

 

Archipelago Files Documents On NYSE Merger

NEW YORK (Dow Jones)--Before plans for the merger between the New York Stock Exchange and Archipelago Holdings Inc. (AX) were announced, Goldman Sachs Group Inc. (GS) secured Archipelago's agreement not to pursue conflicts-of-interest claims against Goldman over issues such as the firm's dual advisory role in the deal.

http://money.iwon.com/jsp/nw/nwdt_rt.jsp?cat=USMARKET&src=704&feed=dji&section=news&news_id=dji-00110320050426&date=20050426&alias=/alias/money/cm/nw

 

Exchange mergers face gauntlet

Scrutiny by regulators of the proposed mergers between the NYSE and Archipelago and Nasdaq and Instinet is likely to be intense.

http://news.yahoo.com/news?tmpl=story&u=/thedeal/20050427/bs_deal_thedeal/exchangemergersfacegauntlet

 

Langone’s Follies

 

Langone wants to shut NYSE's trading floor

Billionaire Kenneth Langone, who's considering a takeover bid for the New York Stock Exchange (NYSE), wants to close its trading floor, ending the way the world's biggest stock market has operated for more than two centuries.

http://seattletimes.nwsource.com/html/businesstechnology/2002254318_nyse27.html?syndication=rss

 

Langone enlarges exchange bid team

US billionaire Kenneth Langone says John Mack, the former chief executive of Credit Suisse First Boston, will help lead a possible offer for the New York Stock Exchange, the world's biggest sharemarket.  "John Mack will be the point person going forward," said Jim McCarthy, a spokesman for Mr Langone, yesterday. A message left for Mr Mack, who left CSFB last June and formerly served on the NYSE's board, wasn't immediately returned.

http://www.theage.com.au/articles/2005/04/26/1114462038420.html?oneclick=true

 

Sweet Revenge

Wall Street’s antipathy for Goldman Sachs helps explain why Ken Langone’s bid for the NYSE is gaining strength

http://www.msnbc.msn.com/id/7645084/site/newsweek/

 

Advocates, opponents of NYSE-Archipelago merger lobbying for support

NEW YORK (AP) - The seat holders of the New York Stock Exchange are being lobbied by both the Big Board's leadership and a dissident group opposed to the exchange's proposed merger with Archipelago Holdings Inc. in what could come down to a contentious vote over the 213-year-old exchange's future, The Associated Press has learned.

http://www.moneysense.ca/news/shownews.jsp?content=b0426105A&ns=headline_news

 

NYSE CEO Thain Discusses Archipelago Deal With Mack

NEW YORK (Dow Jones) -- New York Stock Exchange Chief Executive John Thain spoke Tuesday with former Morgan Stanley (MWD) executive John Mack to discuss the exchange's plan to acquire Archipelago Holdings Inc. (AX), people familiar with the situation said.

http://money.iwon.com/jsp/nw/nwdt_rt.jsp?cat=USMARKET&src=704&feed=dji&section=news&news_id=dji-00100320050426&date=20050426&alias=/alias/money/cm/nw

 

NYSE SITDOWN

April 27, 2005 -- The head of the New York Stock Exchange agreed yesterday to discuss his plan to go public with some Wall Streeters who oppose it.

John Thain said he will meet with each of the firms that took part in the Ken Langone uprising to talk about his merger agreement with Archipelago Holdings.

http://www.nypost.com/business/45447.htm

 

Environmental Trading News

 

JPMorgan Chase Launches Major Environmental Policy

NEW YORK, April 26, 2005 - JPMorgan Chase has adopted a comprehensive policy that applies high environmental standards to the firm's global business activities. Developed in cooperation with groups including Rainforest Action Network, the new policy marks another environmental milestone in the private financial sector and follows the adoption of similar policies by Citigroup and Bank of America last year.

http://www.greenbiz.com/news/news_third.cfm?NewsID=28009

 

HSBC Bank Ups Renewable Energy Commitment to 30%

WILMINGTON, Del. , April 25, 2005 - HSBC Bank USA has pledged to meet 30% of its needs for electricity through wind power. The bank will offset nearly a third of its carbon emissions by purchasing 45,454 MWh of wind energy certificates -- one of the largest retail renewable energy purchases made in North America.

Last December HSBC became the world's first major bank to commit to carbon neutrality.  Electricity production is the leading cause of greenhouse gas emissions that contribute to global climate change. The bank's new annual commitment which will offset 30% of its emissions and will prevent the release of over 36,000,000 pounds of carbon dioxide (CO2), a leading global warming gas.

http://www.greenbiz.com/news/news_third.cfm?NewsID=28006

 

Exchange News

 

CBOT Fed Watch

Based upon the April 26 market close, the CBOT 30-Day Federal Funds futures contract for the May 2005 expiration is currently pricing in a 100 percent probability that the FOMC will increase the target rate by at least 25 basis points from 2-3/4 percent to 3 percent at the FOMC meeting on May 3.

http://www.cbot.com/cbot/pub/cont_detail/0,3206,991+23425,00.html

 

CBOT Full-Sized Gold Open Interest Surpasses 5,000 Contracts

The CBOT announced today that on April 25, open interest in the Exchange's full-sized Gold futures rose to a new record.

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1036+27901,00.html

 

Special Board Bulletin, April 21, 2005

The Board of Directors of the Chicago Board of Trade at a special meeting held Thursday, April 21, 2005, took the following actions summarized in the attached document.

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1027+27907,00.html

 

CBOT Strike Price Notice, April 27, 2005

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1032+27908,00.html

 

E-CBOT Dow Jones Strike Price Notice, April 27, 2005

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1032+27909,00.html

 

Link to Position Limit, Accountability Information; Rule Reminders

http://www.cme.com/clearing/clr/clradv/13010.html

 

Spot Month Procedures on the Eve of First Notice Day

http://www.nymex.com/jsp/shareholder/notice_to_member.jsp?id=ntm181&archive=2005

 

NYSE Seat Sells for $2,400,000

http://www.nyse.com/press/1114427060797.html

 

Wal-Mart Stores, Inc. Visits the NYSE

Wal-Mart International President & CEO John Menzer rings The Opening BellSM on April 27, 2005.

http://www.nyse.com/events/1114512101332.html

 

**** Now, if Walmart were to buy the NYSE we could have stocks at everyday low prices.

 

Record Daily Volume for SFE Options

On April 22, 2005, Sydney Futures Exchange experienced record trading volumes for the Options based on its four major benchmark futures contracts. A total of 41,241 options were traded on both the day and night sessions, exceeding the previous record of 39,084 set on the 10th of June 1998.

http://www.sfe.com.au/content/news/mediareleases/2005/mr_20050427_01.htm

 

TSX Group first-quarter profit rises

Increase reflects stronger revenues

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=28541&IdSection=15&cat=15

 

Merc trading disrupted

The Chicago Mercantile Exchange resumed electronic trading of its E-mini Standard & Poor's 500 index futures after a three-hour halt because of a "market data issue." Trading in contracts for June and September delivery resumed at 12:45 p.m. after being suspended since 9:52 a.m., spokesman Allan Schoenberg said. He didn't provide any further information about what caused the disruption, which he said the exchange is investigating.

http://www.chicagotribune.com/technology/chi-0504270175apr27,1,6514283.story?coll=chi-techtopheds-hed

 

PHLX to Begin Trading Eight New Options

http://www.phlx.com/news/pr2005/05pr042605a.htm

 

SGX CO-ORGANISES CORPORATE GOVERNANCE SEMINAR IN MANDARIN

http://info.sgx.com/webnewscentre.nsf/bcb6f015b16e5258482569a7001af139/48256838002f07b148256ff00025b3f4?OpenDocument

 

Deutsche Boerse supervisory board to hold May 9 extraordinary meeting -sources

FRANKFURT (AFX) - Deutsche Boerse's supervisory board is to hold an extraordinary meeting on May 9, sources close to the board said. ...

http://uk.biz.yahoo.com/050427/323/fhe7f.html

 

Tokyo Grain Exchange Revised Margin Requirements For May, 2005

http://www.exchange-handbook.co.uk/news_story.cfm?id=52599

 

The NASDAQ Stock Market Announces Open Short-Interest Positions In NASDAQ Stocks For April 2005

http://www.exchange-handbook.co.uk/news_story.cfm?id=52596

 

Richard Nesbitt Speaks At Annual And Special Meeting - TSX Group CEO Remarks To AGM April 2005

http://www.exchange-handbook.co.uk/news_story.cfm?id=52590

 

TSX Group Inc. Announces Approval Of Two For One Stock Split

http://www.exchange-handbook.co.uk/news_story.cfm?id=52588

 

Filings by Designated Contract Markets (DCMS) Current Month
Date of Letter	Date Filed	DCM	Description
04/26/2005	04/26/2005	CME	Rule Numbers – 20201, 20203.D., 20205.A. Amendments to measurement procedures used in ethanol

 

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/dig042605.txt

 

KANSAS FEDERAL COURT ORDERS CALIFORNIA RESIDENT DEREK ABRAHAMS TO PAY CIVIL PENALTY FOR FRAUDULENTLY PROMOTING COMMODITY TRADING SYSTEMS

Washington, D.C. — The United States Commodity Futures Trading Commission (CFTC) announced today that the Honorable Carlos Murguia, United States District Judge for the District of Kansas, issued a consent order of permanent injunction prohibiting defendant Derek Abrahams, a California resident, from engaging in any business activities related to commodity futures and options trading. The court’s order also requires Abrahams to pay a civil monetary penalty of $50,000.

The order, entered on April 19, 2005, settles charges against defendant Abrahams arising from the CFTC’s April 22, 2003 complaint in CFTC v. Wall Street Underground, Inc., et al., Civil Action No. 032193-CM (D. Kan.), which charged Abrahams and several others as participants in a fraudulent scheme to sell commodity futures and options trading systems (see CFTC News Release 4778-03, April 25, 2003).

http://www.cftc.gov/opa/enf05/opa5071-05.htm

 

NGFA Voices Concerns Over Impact of Fund-Related Trading on Futures Market Volatility

Washington, DC--The National Grain and Feed Association has submitted a statement to the Commodity Futures Trading Commission (CFTC) generally supporting the agency's proposal to permit increases in speculative position limits for agricultural commodities at the nation's three major grain exchanges.

http://www.grainnet.com/info/articles.html?type=bn&ID=26136

 

SEC Approves New Pilot Rule Giving NASD Authority to Receive and Review Complaints against NASD Market Participants that Allege Denial of Access to Their Quotes in the Alternative Display Facility; Compliance Date: May 26, 2005

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

 

OSC settles with Cheung over failure to file insider trade reports

Global Genius insider fined $5,000

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=28548&IdSection=8&cat=8

 

**** They should have been fined just for using “Global Genius” as a name.  Jeez! 

 

White & Case partner to be new FSA enforcement chief

The Financial Services Authority (FSA) has raided White & Case for its new director of enforcement. Margaret Cole, a London-based litigation partner at the US firm, is to succeed Andrew Procter who was poached by Deutsche Bank to head the German bank s compliance team.

http://www.thelawyer.com/cgi-bin/item.cgi?id=115015&d=122&h=24&f=46

 

SEC: Finance Researchers Encouraged To Study Regulation SHO Pilot That Starts May 2

http://www.exchange-handbook.co.uk/news_story.cfm?id=52586

 

Managed Futures - Managed Funds

 

Hedge funds target smaller investors

There is no greater evidence of the phenomenal growth of hedge funds than this: There are now nearly as many of them as there are mutual funds.

http://www.post-gazette.com/pg/05117/495074.stm

 

Japanese investors lead on hedge funds-Gartmore

TOKYO, April 27 (Reuters) - Institutional investors in Japan are ahead of their overseas counterparts in sinking money into hedge funds amid tepid returns from traditional assets, British fund manager Gartmore said on Wednesday.

http://asia.news.yahoo.com/050427/3/202hm.html

 

Jury Selection Begins In Sihpol Mutual-Fund Trial

NEW YORK (Dow Jones)--Jury selection began Tuesday in the trial of Theodore C. Sihpol, a former Bank of America Corp. (BAC) broker accused of helping a hedge fund make improper trades in and out of mutual funds.

http://money.iwon.com/jsp/nw/nwdt_rt.jsp?cat=USMARKET&src=704&feed=dji&section=news&news_id=dji-00094120050426&date=20050426&alias=/alias/money/cm/nw

 

Man Group says AHL fund NAV up 0.45 pct wk-on-wk

LONDON (AFX) - Man Group PLC said that, as at the close of business on April 25, the net asset value of AHL Diversified Futures Ltd was 22.51 usd, ...

http://uk.biz.yahoo.com/050426/323/fhbsy.html

 

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

 

Oil: A Bubble, Not a Spike?

While the rest of Wall Street just can't seem to get enough of the oil market, energy analyst Tim Evans isn't afraid to go against the tide. Evans, a senior analyst at IFR Energy Services, a division of Thomson Financial, thinks that the current run-up in oil prices is much like the Internet bubble of the late '90s. While other analysts are calling for crude to hit upward of $100 per barrel in

http://news.yahoo.com/news?tmpl=story&u=/bw/20050427/bs_bw/nf200504275199

 

Trading Stocks Without a Wire

Wall Street is becoming a nationwide hot spot, featuring round-the-clock trading, stronger security, and lower costs for investors on the go

http://www.businessweek.com/technology/content/apr2005/tc20050427_3776_tc207.htm?campaign_id=rss_techn

 

HSBC banker sues after dismissal

A former high flying employee of HSBC files a claim against the global banking giant that he was unfairly dismissed for being gay.

http://news.bbc.co.uk/go/rss/-/1/hi/business/4487343.stm

 

RBS to stay out of mergers for now

FRANKFURT (Reuters) - Royal Bank of Scotland will remain a spectator for now in European banking consolidation but could ultimately get involved, the head of Britain's second-biggest bank told journalists on Wednesday.

http://www.reuters.co.uk/newsArticle.jhtml?type=businessNews&storyID=716645&section=finance&src=rss/uk/businessNews

 

Deutsche Ousts UBS as Top Currency Bank, Survey Says (Update3)

April 27 (Bloomberg) -- Deutsche Bank AG ousted UBS AG to become the largest foreign-exchange trading bank in Euromoney magazine's annual survey of fund managers and corporate treasurers in the $1.9 trillion-a-day market.

http://www.bloomberg.com/apps/news?pid=10000085&sid=aCWRCAGJGIq4

 

2 Morgan Stanley Directors Gauge the Firm's Discontent

By LANDON THOMAS Jr. Two independent Morgan Stanley directors interviewed a number of senior executives throughout the firm yesterday, in an effort to gauge sentiment at the divided Wall Street house.

http://www.nytimes.com/2005/04/27/business/27wall.html

 

FTSE Group Appoints Two New Directors - Tim Ward, Finance Director - Lance Fisher, IT Director

http://www.exchange-handbook.co.uk/news_story.cfm?id=52602

 

Nicolas Breteau named European Zone Managing Director

London – 27 April 2005.   The Fimat Group, one of the world's leading global brokerage organizations and part of Société Générale Global Securities Services for Investors, has appointed Nicolas Breteau as European Zone Managing Director. Previously, Nicolas was head of Fimat in the UK, a responsibility that he will retain alongside the supervision of Fimat’s other European offices in France, Spain, Germany and Switzerland.

www.fimat.com

 

Other Voices

 

Today’s Other Voices contribution is from Lesley Albanese of the Cato Institute offering 10 free seats to a debate/event in Chicago about Social Security reform.  Contact Lesley directly for you free seat.

 

Dear Mr. Lothian,

 

I’m writing to see if you would be willing to list in your e-Newsletter a Cato Institute seminar and cocktail reception on May 4 featuring Chicago Sun-Times columnist, Robert Novak. The seminar will also feature a debate on Social Security reform by Cato’s Mike Tanner and Dean Baker, co-director of the Center for Economic Policy Research. The Cato Institute, a non-profit public policy research institute located in Washington, D.C., is committed to developing policy options that promote individual liberty, limited government, free markets and peace.  You can learn more about us at www.cato.org.  I believe that your subscribers would enjoy the opportunity to hear “inside the beltway” commentary from Novak as well as learn about the politics surrounding the Social Security reform debate.  In exchange for your help, I can offer you 10 complimentary seats at the event. 

 

Thank you for your time.

 

Cordially,

 

Lesley Albanese

Cato Institute

202-789-5223   

 

You’re invited to a Cato Institute seminar and cocktail reception “The Great Debate: Should Social Security Be Reformed?” on Wednesday, May 4 from 4:00 p.m. to 6:00 p.m. at the Palmer House in Chicago.  The seminar will feature Chicago Sun-Times columnist Robert Novak and a debate by Mike Tanner, co-chair of Cato’s Project on Social Security Choice, and Dean Baker, co-director of the Center for Economic and Policy Research, on whether the current system is truly in need of reform.  The Cato Institute, a non-profit public policy research institute headquartered in Washington, D.C., is committed to developing policy options that promote individual liberty, limited government, free markets and peace.   

 

Registration is $20 per person.  As a convenience you can register online at https://www.cato.org/events/050504cs.html

 

For further information please contact Cato’s Lesley Albanese at 202-789-5223 or lalbanese@cato.org

 

The Great Debate: Should Social Security Be Reformed?

 

Wednesday, May 4, 2005

4:00 to 6:00 p.m.

 

The Palmer House Hilton

17 East Monroe Street

Chicago, IL

 

3:30–4:00 p.m. Registration

4:00–4:10 p.m. Welcoming Remarks Edward H. Crane, President, Cato Institute

4:10–4:40 p.m. Keynote Address, Robert D. Novak, Syndicated Columnist

4:40–5:30 p.m. Social Security: The Ownership Option Debate

Michael Tanner, Co-Chair, Cato Institute Project on Social Security Choice

Dean Baker, Co-Director, Center for Economic and Policy Research

5:30 p.m. Cocktail Reception

 

Lesley Albanese

Director of External Affairs

Cato Institute

1000 Massachusetts Avenue NW

Washington, DC 20001

Direct: 202-789-5223

Fax: 202-842-3490

Email: lalbanese@cato.org

 

John's Comments

 

Futures Magazine May 2005 Preview

 

Futures Magazine features in its May issue: a conversation with investment guru Jim Rogers, an overview of expert forecasts on the metal markets, a review of concerns over CFTC reauthorization  and reports on the growing angst of Nymex members regarding competition and the possibility of an IPO.  For a complete list of articles, and links to some of those listed here, go to http://www.futuresmag.com/library/contents.html

 

**********

 

Brent Crude Watch

 

IPE Brent Volume: 90,044

NYMEX Brent Crude Volume: 20,140

NYMEX Percent of Total Volume: 18.28%

 

********

 

Chicago Electronic Trading Scorecard for April 26, 2005

 

Percent Electronic

 

CBOT: 70.61%

CME: 73.45%

CME Eurodollars: 84.84%

CME Live Cattle: 1.09%

CME Currency Products: 85.63%

CBOT Soybeans: 2.61%

 

CBOT Options: 4.57%

CME Options: 4.11%

 

Volume 

 

OneChicago Volume: 2598

Eurex US Volume: 10,748

Euronext.liffe Eurodollar Volume: 33,484

CBOE Futures Exchange Volume: 351

 

Market Share

 

CBOT 100 oz. Gold Volume: 1874

NYMEX 100 oz. Gold Volume: 51,571

CBOT Share: 3.51%

 

CBOT 5000 oz. Silver Volume: 436

NYMEX 5000 oz. Silver Volume: 51,123

CBOT Share: .80%

 

CBOT Mini Gold Volume: 902

CBOT Mini Silver Volume: 580

 

CME Emini Russell 1000 (100X) Volume: 2748

Eurex US Mini Russell 1000 (100X) Volume: 1252

NYBOT Mini Russell 1000 (50X) Volume: 112

CFE Mini Russell 1000 (100X) Volume: 0

 

CME Emini Russell 2000 Volume: 133,266

Eurex US Mini Russell 2000 Volume: 6652

CFE Mini Russell 2000 Volume: 228

 

Notes: CBOT 100 oz. Gold continued its open interest bull market with a record 5579 contracts now open.

 

Liffe Eurodollar Over-Under

 

Liffe/Globex: 2.51%

Liffe/CME: 2.14%

 

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

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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.

 

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