May 11, 2005

 

Lead Stories

 

Key U.S. Lawmaker sees single exchange watchdog

May 10, 2005 — WASHINGTON (Reuters) - A single regulator for the nation's stock exchanges makes sense considering recent consolidation on Wall Street, the chairman of a key U.S. congressional subcommittee said on Tuesday.  Louisiana Republican Rep. Richard Baker, who heads the capital markets subcommittee, said the current self-regulatory model, with its potential conflicts with the business side of the exchanges, poses problems.  Critics of the current system have suggested a single regulator. "That probably is ultimately where we'll wind up," Baker told reporters after a hearing on mutual fund regulation.

http://abcnews.go.com/Politics/wireStory?id=745593

 

FIA to Hold Beijing Conference in August

FIA and the FIA Asia Development Committee will host a derivatives industry conference in Beijing on Aug. 10-11. China’s three futures exchanges will serve as co-hosts of the conference, which will focus on both financial and commodity futures and options markets in the Asia-Pacific region. The two-day program will cover the development of futures markets in China, perspectives on the products and business strategies of exchanges across the region, issues related to cross-border access to Asian markets, and risk management and clearing issues. In addition, exchanges, investment banks, technology providers and other industry organizations will hold an exposition during the conference where they will exhibit their products and services.

http://www.futuresindustry.org/asiander-2554.asp

 

NYBOT sees no need for merger, IPO

NEW YORK (Reuters) - The New York Board of Trade, one of the world's premier agricultural exchanges, said on Tuesday it sees no need to merge with a rival exchange or become a for-profit company.

"We've learned we can live by ourselves and we're very happy with that," Harry Falk, chief executive of NYBOT, said at the Reuters Exchanges and Trading Summit in New York.

http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=8444242

 

***** Sanity reigns at the NYBOT!

 

Reuters Summit-CBOE demutualization may be close

By Ros Krasny

NEW YORK, May 10 (Reuters) - Chicago Board Options Exchange Chairman and Chief Executive William Brodsky said the exchange is more seriously exploring the idea of demutualization and could determine a course of action within weeks.  "My expectation is that at some point we will change to a demutualized organization," Brodsky said, speaking to a group of Reuters journalists and editors assembled at the Reuters Exchanges and Trading Summit.

http://www.reuters.com/financeNewsArticle.jhtml%3B?type=mergersNews&storyID=8445204&section=investing

 

Liquidnet says Nasdaq could snatch NYSE business

NEW YORK (Reuters) - Electronic marketplace Liquidnet said on Tuesday that Nasdaq posed a threat to the NYSE by having the potential to slash prices and snatch market share from the Big Board.

http://www.reuters.co.za/locales/c_newsArticle.jsp%3B:4281b0a4:d13f8172ca7a6842?type=businessNews&localeKey=en_ZA&storyID=8451530

 

Deutsche Boerse asked to clarify future strategy

FRANKFURT (Reuters) - Deutsche Boerse's supervising authority on Tuesday sought clarity on the exchange operator's strategy for the future as its largest shareholder revived the suggestion of a merger with a European rival.  The state of Hesse, home to the Frankfurt bourse, called on Boerse to give an unambiguous strategy statement after top shareholder, UK hedge fund TCI, said it could imagine a merger of Boerse and Euronext.

http://today.reuters.co.uk/news/newsArticle.aspx?type=businessNews&storyID=2005-05-10T173216Z_01_MOL062977_RTRUKOC_0_FINANCIAL-DEUTSCHEBOERSE.xml

 

Euronext seen as front-runner for LSE after Seifert resignation

Euronext remains the front-runner to bid for the London Stock Exchange following the resignation of Deutsche Boerse chief executive Werner Seifert, who led an unsuccessful rival move.

http://news.yahoo.com/news?tmpl=story&u=/afp/20050510/ts_afp/britainstockscompanytakeoverlseeuronextboerse_050510171311

 

Bit of Teamwork Behind Ousters at Exchange

LONDON, May 10 - Aggressive, fast-moving hedge funds and their more sedate but larger peers, the traditional mutual and pension funds, are usually in opposite camps when it comes to investing styles.

But the two sides quietly worked together recently to land an unprecedented one-two punch that resulted in the removal of Deutsche Börse's management. The exchange's top two executives resigned on Monday.

http://www.nytimes.com/2005/05/11/business/worldbusiness/11investors.html?

 

Nasdaq sees 'seamless' Instinet integration

NEW YORK (Reuters) - A senior Nasdaq executive said on Tuesday the process of integrating electronic trading company Instinet Group Inc. is expected to be "seamless."

Chris Concannon, the Nasdaq's executive vice president for transaction services, said at the Reuters Exchanges and Trading Summit that because Instinet had just completed its own integration with former competitor Island ECN, it made the task of merging the Nasdaq and Instinet easier.

http://www.reuters.com/newsArticle.jhtml?type=electionsNews&storyID=8443815

 

Concannon: NYSE deal good for Nasdaq

NEW YORK (Reuters) - Nasdaq Stock Market Inc. is poised to capture liquidity as the New York Stock Exchange pursues a combination with electronic trading company Archipelago Holdings Inc., a senior Nasdaq executive said on Tuesday

http://www.reuters.com/newsArticle.jhtml?type=electionsNews&storyID=8441906

 

Rumor Mill - The NYSE merger is sparking all kinds of gossip among Wall Streeters ripe for revenge

By Charles Gasparino

May 11, 2005May 11 - Wall Street is a huge industry, employing close to 170,000 people just in New York City, and tens of thousands more in brokerage offices throughout the country and the world. But in many ways, The Street operates like a small town, where rivalries and petty jealousies play out in a rumor mill of suspicion and speculation.

http://www.msnbc.msn.com/id/7807539/site/newsweek/

 

eSpeed Stuck in Slow Lane

In a game where transactions worth millions of dollars earn you pennies of profit, you can't afford to have too many miscues. Electronic bond-trading firm eSpeed (Nasdaq: ESPD) reported yesterday that while it has earned more pennies than it anticipated, it's still losing the overall game -- the result of a series of problems that have plagued it for a while.

http://www.fool.com/News/mft/2005/mft05051023.htm

 

Battle for MTS looks set to drag on

A politically charged battle over ownership of MTS, the trading platform operator for European government bonds, was yesterday set to drag on as the company's board met to assess rival bids from Euronext/Borsa Italiana and eSpeed.

http://news.ft.com/cms/s/27cec124-c1b9-11d9-943f-00000e2511c8.html

 

Euronext/Borsa Italiana outbid by ESpeed for MTS - report

LONDON (AFX) - ESpeed, the electronic bond trading arm of Cantor Fitzgerald, has outbid the consortium of Euronext NV and Borsa Italiana in tendering for control of the MTS bond trading platform, the Financial Times reported, citing a person close to the sale.

http://www.forbes.com/home/feeds/afx/2005/05/11/afx2016799.html

 

Environmental Trading News

 

Investors at UN Talk About Climate Change

Trillions of dollars in investment clout gathered under the U.N. roof to talk about climate change — and money.

http://news.yahoo.com/news?tmpl=story&u=/ap/20050511/ap_on_bi_ge/un_climate_and_business_5

 

Investors pledge $1 bln in clean energy

UNITED NATIONS (Reuters) - U.S. and British institutional investors who collectively manage over $3 trillion (1.6 trillion pounds) in assets pledged on Tuesday to invest $1 billion in clean energy companies in an effort to reduce risks posed by climate change.

http://www.reuters.co.uk/newsArticle.jhtml?type=businessNews&storyID=725554&section=finance&src=rss/uk/businessNews

 

Exchange News

 

Higher U.S. Winter Wheat Output Expected in 2005

Despite lower seedings last fall, this year's above-average conditions for U.S. winter wheat.... 0

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1027+28101,00.html

 

W. Wheat Ratings Keep Falling but Spring Plantings Jump

The week's USDA crop conditions and progress data reported......

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1027+28103,00.html

 

CBOT Strike Price Notice, May 11, 2005

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1032+28129,00.html

 

CBOT Trading Position Change Notice, Corn, May 16, 2005

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1032+28128,00.html

 

CBOT Trading Position Change Notice, Soybean Oil, May 16, 2005

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1032+28127,00.html

 

Archipelago Holdings Inc. Shareholders Re-Elect Board of Directors

http://investor.archipelago.com/phoenix.zhtml?c=140290&p=irol-newsArticle&ID=708426&highlight=

 

NYSE Regulation Announces Disciplinary Actions Against Two Member Firms and Six Individuals

http://www.nyse.com/press/1115635096590.html

 

NYBOT to launch new CRB futures contracts July 11

NEW YORK, May 10 (Reuters) - The New York Board of Trade said Tuesday it will introduce new contracts on a revised and renamed version of the benchmark Reuters CRB Index of commodity futures, starting July 11.

http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=8441402

 

WCE Trading Volume Down in April

WINNIPEG - May 10/05 - SNS -- Trading volumes on the Winnipeg Commodity Exchange (WCE) declined in April, with 145,023 futures and options contracts exchanging hands, down 15.4% from March 2005 and 36.9% lower than April 2004.

http://www.agreport.com/open/143528.phtml

 

SFE Responds to Commonwealth Government Future Fund Announcement

http://www.sfe.com.au/content/news/mediareleases/2005/mr_20050511_01.htm

 

Monthly Trading Volume & Value

http://www.tse.or.jp/english/data/v_and_v/index.html

 

PHLX to Begin Trading Three New Options on May 11

http://www.phlx.com/news/pr2005/05pr051005a.htm

 

Monthly Market report for April 2005

http://www.londonstockexchange.com/en-gb/about/Newsroom/Market+Reports/2005/110505aprmarkreport.htm

 

Housecleaning at Deutsche Börse

The removal of key executives Werner Seifert and Rolf Breuer paves the way for new tie-ups among European exchanges.

http://news.yahoo.com/news?tmpl=story&u=/thedeal/20050511/bs_deal_thedeal/housecleaningatdeutscheb246rse

 

**** Housecleaning is so much more pleasant than rolling heads and removing hairlines (scalps).

 

Euronext.liffe Launches Larger, Lower-Cost French Equity Option Contracts And Larger Cac 40® Index Options

http://www.exchange-handbook.co.uk/news_story.cfm?id=52850

 

Trading On London Stock Exchange Continues Strong Trend

http://www.exchange-handbook.co.uk/news_story.cfm?id=52840

 

HKEx 2005 First Quarter Results

http://www.exchange-handbook.co.uk/news_story.cfm?id=52837

 

Korea Exchange Offers Integrated Customer Account Services For Futures Traders From May 2

http://www.exchange-handbook.co.uk/news_story.cfm?id=52835

 

Amex's Quick Steps Down as President

May 11, 2005 - The American Stock Exchange announced that Peter Quick has stepped down as president after serving five years in that position.

http://www.securitiesindustry.com/article.cfm?articleid=15523

 

 

***** Hedgestreet also announced you can use your Starbuck’s gift cards for the initial minimum deposit.  Try the Hedgelet with the cappuccino.

 

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/dig051005.txt

 

CFTC Sanctions Los Angeles-Area Commodity Pool Operator James Weatherford, Doing Business as Managed Mini.com

http://www.cftc.gov/opa/enf05/opa5075-05.htm

 

Vancouver investment dealer settles with BCSC

http://www.bcsc.bc.ca/release.asp?id=2412

 

SEC eyes National Stock Exchange deal

The U.S. Securities and Exchange Commission plans to consider a proposed settlement this week with the National Stock Exchange over improper trading allegations, people familiar with the matter said on Tuesday.

http://news.yahoo.com/news?tmpl=story&u=/nm/20050510/bs_nm/financial_sec_national_dc_2

 

Committee Of European Securities Regulators Publishes A Consultation Paper On Recommendations On The Use Of Alternative Performance Measures To Ensure Best Practice By Companies In The Information Prepared For Investors

http://www.exchange-handbook.co.uk/news_story.cfm?id=52842

 

Managed Futures - Managed Funds

 

Are Worries About Hedge Funds Overblown?

What started out as a story in today's Wall Street Journal about how hedge funds haven't been so hot lately quickly snowballed into rumors in the bond pits about hedge fund liquidations in the U.S. and in Europe. Stock investors got spooked.

http://www.businessweek.com/the_thread/wellspent/archives/2005/05/are_worries_abo_1.html

 

Advisors must take responsibility for investment recommendations, OSC chairman says

Onus on advisors to understand the products they sell

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=28759&IdSection=8&cat=8

 

Actively managed equity funds lag indices in first quarter, says S&P

Small cap funds beat index

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=28753&IdSection=1&cat=1

 

Over 175 attend MFA’s Hedge Fund CCO Seminar.  SEC’s Gene Gohlke delivers keynote address - May 5, 2005

http://www.mfainfo.org/images/PDF/May%205th%20Program.pdf

http://www.sec.gov/news/speech/spch050505gg.htm

 

Deutsche Bank Hasn't Lent Money to Hedge Funds, Boersig Says

May 11 (Bloomberg) -- Deutsche Bank AG, Germany's biggest bank by assets, has collateral to protect against potential losses in its trades with hedge funds and hasn't lent money to the funds, Chief Financial Officer Clemens Boersig said.

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

 

Alternative Investment Fail To Deliver in 2005, by Carla Johnson, Investors Offshore.com 11 May 2005

The year 2005 has not been kind to alternative investments. A quick review of the Cogent Dynamic Averages shows that the typical alternative investment is down 0.65% for the year to date through April.

http://www.investorsoffshore.com/asp/story/storyinv.asp?storyname=19803

 

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

 

TD Waterhouse opening Private Client Services Centre in Montreal

First centre in Quebec

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=28762&IdSection=5&cat=5

 

Client factoid: Full-service clients vs online traders

Investment profiles are more similar than one might think

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=28755&IdSection=3&cat=3

 

Stock Market Game Program Receives $145,000 Grant From Morgan Stanley For Schools In Atlanta, Baltimore/Washington, D.C., Boston And Miami

http://www.sia.com/press/2005_press_releases/03746475.html

 

David H. Sidwell and Jerker Johansson of Morgan Stanley to speak at the Morgan Stanley Equity Research Under the Hood: Capital Markets Conference 2005

http://www.morganstanley.com/cgi-bin/morganstanley.com/pressroom.cgi?action=load&uid=408

 

Harris Nesbitt Donates All Equity Trading Commissions Today

At market open today, Harris Nesbitt, the U.S. investment and corporate banking arm of BMO Financial Group , will launch its first Equity through Education trading day, a new charitable program designed to raise money for students who demonstrate academic promise but lack the support and means to pursue opportunities that can only be achieved through education.

http://biz.yahoo.com/prnews/050511/to131.html?.v=4

 

50-Year-Old Commodity Benchmark Undergoes Revision

http://www.garp.com/risknews/newsfeed.asp?Category=6&MyFile=2005-05-11-10768.html

 

May 11:Speech – Greenspan on Risk Transfer and Financial Stability

The following are remarks by Chairman Alan Greenspan to the Federal Reserve Bank of Chicago's Forty-first Annual Conference on Bank Structure in Chicago.

Chicago is the birthplace of modern financial derivatives markets. So this conference seems an appropriate place in which to reflect once more on the prodigious growth of these risk-transfer instruments and their implications for financial stability.

http://www.garp.com/risknews/newsfeed.asp?Category=6&MyFile=2005-05-11-10769.html

 

TT's Follow-Up Memo to TT/Refco Users

http://www.tradingtechnologies.com/news/documents/050510_TTRefcoFollowUp.pdf

 

DTCC: $1.1 quadrillion settled in 2004

At the Depository Trust & Clearing Corp. cleared and settled securities were up 22 percent from the prior year's $923 trillion. Trades worth more than $1 quadrillion were processed in 2004, setting new transaction processing records in most subsidiaries, the organization said.

http://www.bizjournals.com/tampabay/stories/2005/05/09/daily21.html

 

98 Denver Schwab workers laid off to "reduce capacity"

Charles Schwab Corp. will dismiss 98 Denver-area workers May 25, a reduction of nearly 10 percent of the investment firm's local workforce. "We are sorry to have to let them go," Schwab spokeswoman Sarah Bulgatz said. "What we are looking to do is reduce overall capacity and simplify operations.

http://www.denverpost.com/ci_2725480?rss

 

Schwab: Staying Single

The brokerage firm's CEO says the reasons his rivals have for merging don't apply to his outfit since he's looking elsewhere for growth

http://www.businessweek.com/bwdaily/dnflash/may2005/nf20050511_3091_db008.htm?campaign_id=rss_daily

 

Can E*Trade Net Its Rival?

If the online brokerage succeeds in buying Ameritrade, it'll become a dominant player. But its target cherishes its independence

http://www.businessweek.com/bwdaily/dnflash/may2005/nf20050511_2543_db016.htm?campaign_id=rss_daily

 

UK online trader CMC Group plans Nov flotation

HONG KONG/LONDON, May 11 (Reuters) - British spread-betting and online foreign exchange trading provider CMC Group Plc said on Wednesday it plans to list in London by November, in a deal that could value it at up to 1 billion pounds ($1.9 billion).

http://asia.news.yahoo.com/050511/3/20sve.html

 

FFastFill PLC Preliminary Results For The Year Ended 31 March 2005

http://www.exchange-handbook.co.uk/news_story.cfm?id=52838

 

Morgan Stanley's No-Win Situation

No matter what CEO Philip Purcell promises, a skeptical Street isn't satisfied

http://www.businessweek.com/bwdaily/dnflash/may2005/nf20050511_4131_db042.htm

 

Events to Attend – Chicago & New York

 

Register for MFA FORUM by Friday to Save up to $550

 

MFA's Forum 2005 conference is June 6-8, 2005 at The Fairmont Chicago!  Please note: the early-bird deadline to register for Forum 2005 and save up to $550 is Friday, May 13, 2005.

 

Hotel rooms at The Fairmont Chicago are selling quickly! The deadline to reserve your hotel room has been extended to Friday, May 13, 2005. Please contact The Fairmont Chicago directly at 312.565.8000 or online at www.fairmont.com/chicago.

 

Exhibit Booth Space and Sponsorship Opportunities are still available! Please contact Stacy Hudson at 202.367.1140 or stacy@mfainfo.org.

 

To register online and for updated conference program information, link to MFA's Forum 2005 eBrochure, sponsored by Mayer, Brown, Rowe & Maw LLP, at http://www.mfainfo.org/events/forum2005/

 

***** I will be there.  There are some interesting seminars scheduled.  Check it out.

 

***********

 

IFM Two-day Futures and Options Seminar

 

*Mon. May 23 & Tue. May 24, 2005 (10:00 AM - 5:00 PM)

Location: NFA, 200 W. Madison St., Suite 1600, Chicago IL 60606

 

*Wed. June 29 & Thu. June 30, 2005 (9:00 AM - 5:00 PM)

Location: CFTC, 140 Broadway, 19th floor, New York NY 10005 Who Should

 

Attend? Industry professionals, Series 3 exam candidates, market-users and those who need an in-depth understanding of futures and options markets, their institutions and their participants.

 

What Can You Learn? This two-day program provides a foundation in the fundamentals of futures and options market theory and practice. It also prepares the participant for the market knowledge portion of the Series 3 examination and includes a self-study test for the regulation portion of the test. Attendees can further prepare for the exam using the IFM's Series 3 PassMaster, a web-based tutorial with unlimited practice tests, which is included in the course materials.

 

Cost: $600.00 per person and includes two-must read books - Futures and Options and the Guide to U.S. Futures Regulation and Series 3 PassMaster, a Web-based tutorial with unlimited practice tests.

 

Complimentary morning and afternoon refreshment breaks are provided.

 

To Register: Online www.theifm.org/orderingOnline/catalog.cfm or contact Karen at the Institute at 202.223.1528, or via e-mail at kanderson@theIFM.org.

 

The Institute for Financial Markets is a nonprofit foundation and leading education, ethics and AML training provider.  For information about their mission and other IFM News see www.theIFM.org.

 

John's Comments

 

CBOT Full-sized Electronic Gold and Silver Need Options – Request for Input

 

I would like to see the CBOT list options on their electronically traded full sized gold and silver contracts on eCBOT, as they have indicated they would do.  I believe the price transparency for the options, surety and speed of trading and open platform would bring the futures more volume from the options trading.  I know my customers would trade more CBOT full-sized gold and silver if they had the options markets.  If you have an opinion on this, would you be so kind as to click on this link and tell the CBOT what you think?

 

http://www.cbot.com/cbot/pub/page/0,3181,1206,00.html

 

Thanks!

 

*********

 

From Bloomberg News: Copper Trader Tony Steo Died After Heart Attack, Hanemann Says 2005-05-11 10:05 (New York)

 

By Claudia Carpenter

May 11 (Bloomberg) -- Copper trader Tony Steo died yesterday after a heart attack that disrupted trading on the Comex division of the New York Mercantile Exchange, said John Hanemann, chairman of the Comex floor committee.  The Comex, home to metals markets such as copper, gold and silver, will have a minute of silence in Steo's honor today, with no trading from 11 a.m. to 11:01 a.m., New York Mercantile

Exchange spokeswoman Anu Ahluwalia said.

 

Steo, 61, lived on Long Island and traded copper for 30 years, most recently concentrating on over-the-counter arbitrage transactions, Hanemann said. ``I've only known him for 56 years,'' he said. ``I went to kindergarten with him.''    The Comex halted trading yesterday from 8:30 a.m. to 9:10 a.m. after Steo had the heart attack, four minutes after the copper market opened. His daughter and nephew, who also trade commodities on the floor, were ``with him throughout the whole crisis,'' Hanemann said.

 

**********

 

 

John Lothian in Florida; Jon Matte to Edit Newsletter

 

Just a reminder, I will be attending the Options Industry Conference in Bonita Springs starting tomorrow.  The surprise guest editor I have mentioned previously will be my long-time friend and industry associate Jon Matte, President of Defender Capital Management.  Jon is the creator of the managed futures programs that John J. Lothian & Company offers.

 

If you have new you would like Jon to include in the newsletter, or feedback for him, please email him at jonm@defendercapital.com.

 

He will be editing the newsletter tomorrow and Friday and then next week again on Thursday and Friday when I am in Washington, DC.  My previous guest editor, Jim Kharouf, is unavailable as he will be braving the wilds of the West coast of Florida with me and the rest of the Options Industry Conference attendees.

 

**********

 

 

Brent Crude Watch

 

IPE Brent Volume: 170,918

NYMEX Brent Crude Volume: 13,463

NYMEX Percent of Total Volume: 7.30%

 

**** Wow!  170K

 

********

 

Chicago Electronic Trading Scorecard for May 10, 2005

 

Percent Electronic

 

CBOT: 65.84%

CME: 72.04%

CME Eurodollars: 80.79%

CME Live Cattle: .57%

CME Currency Products: 85.01%

CBOT Soybeans: 1.71%

 

CBOT Options: 4.17%

CME Options: 2.91%

 

Volume 

 

OneChicago Volume: 19,996

Eurex US Volume: 7171

Euronext.liffe Eurodollar Volume: 23,889

CBOE Futures Exchange Volume: 1021

 

Market Share

 

CBOT 100 oz. Gold Volume: 513

NYMEX 100 oz. Gold Volume: 32,506

CBOT Share: 1.55%

 

CBOT 5000 oz. Silver Volume: 170

NYMEX 5000 oz. Silver Volume: 14,436

CBOT Share: 1.16%

 

CBOT Mini Gold Volume: 412

CBOT Mini Silver Volume: 417

 

CME Emini Russell 1000 (100X) Volume: 2707

Eurex US Mini Russell 1000 (100X) Volume: 1069

NYBOT Mini Russell 1000 (50X) Volume: 3761

CFE Mini Russell 1000 (100X) Volume: 0

 

CME Emini Russell 2000 Volume: 115,219

Eurex US Mini Russell 2000 Volume: 3266

CFE Mini Russell 2000 Volume: 333

 

Notes: There will be no scorecard and volume numbers while I am away.

 

Liffe Eurodollar Over-Under

 

Liffe/Globex: 1.77%

Liffe/CME: 1.43%

 

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.

 

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