June 10, 2005
By Jeremy Grant in Chicago
Eurex plans to offer foreign exchange futures contracts this year, as the Frankfurt-based derivatives exchange tries to boost its fledgling US operation and expand global distribution of its products. The move sets the stage for a battle between Eurex and the Chicago Mercantile Exchange in one of the world's fastest-growing derivatives contracts. The CME is the only exchange to offer trading in forex futures, aside from a small dollar index product at the New York Board of Trade.
http://www.marketwatch.com/news/story.asp?guid=%7B6523E8FD-859E-4991-9D14-DA5690FEAD33%7D&siteid=mktw
By Jeremy Grant in Chicago
Eurex plans to offer foreign exchange futures contracts this year as the Frankfurt-based derivatives exchange tries to boost the fortunes of its fledgling US operation and expand global distribution of its products, market participants said.
The move sets the stage for a battle between Eurex and the Chicago Mercantile Exchange in one of the world's fastest-growing derivatives contracts.
http://news.ft.com/cms/s/b5ae6a7e-d926-11d9-8403-00000e2511c8.html
As rival goes electronic, Nasdaq CEO eyes market share
SAN FRANCISCO (MarketWatch) -- Nasdaq Stock Market Chief Executive Robert Greifeld said Thursday that the company has a chance to grab market share from its bigger rival as the New York Stock Exchange transitions slowly from floor-based to electronic trading.
http://www.marketwatch.com/news/story.asp?guid=%7B58F84298-2BBD-409B-9DB8-8E981784E7B0%7D&siteid=google
Changes in SEC Leadership May Spark Review of Reg NMS
A shift in the top leadership at the Securities and Exchange Commission (SEC) announced last week, triggered by the resignation of SEC Chairman William Donaldson, brings uncertainty to the final form of Reg NMS, according to several industry sources.
http://www.wallstreetandtech.com/showArticle.jhtml?articleID=164301879
A shift in the top leadership at the Securities and Exchange Commission (SEC) announced last week, triggered by the resignation of SEC Chairman William Donaldson, brings uncertainty to the final form of Reg NMS, according to several industry sources.
http://www.wallstreetandtech.com/showArticle.jhtml?articleID=164301879
Long-lost statues returned to Chicago Board of Trade
The Chicago Board of Trade reclaimed a large piece of its history on Thursday when two five-ton statues that once adorned the front of the exchange's original building but went missing in 1929 finally returned back home.
http://news.yahoo.com/news?tmpl=story&u=/nm/20050610/od_uk_nm/oukoe_odd_cbot_statues_1
The Chicago Board of Trade reclaimed a large piece of its history on Thursday when two five-ton statues that once adorned the front of the exchange's original building but went missing in 1929 finally returned back home.
http://news.yahoo.com/news?tmpl=story&u=/nm/20050610/od_uk_nm/oukoe_odd_cbot_statues_1
A huge granite statue of the goddess of agriculture that mysteriously vanished in 1929 is welcomed back to the Chicago Board of Trade Thursday, June 9, 2005, during a celebration marking the 75th year of the current CBOT headquarters. The 12-foot, 5-ton statue and its mate, representing the goddess of industry, once stood at the entrance of the original 1885 CBOT, but were lost during demolition for the current headquarters.
***** These statues are really beautiful and the make the plaza next to the CBOT more elegant.
Surrender at the SEC
The appointment of Representative Christopher Cox to lead the Securities and Exchange Commission is as shameful as sending John Bolton to the United Nations, and should arouse a comparable swell of objections. Cox is a wholly owned agent of the financial and corporate interests the SEC is supposed to regulate. His political career has been financed by the same sectors--banking, accounting,
http://news.yahoo.com/news?tmpl=story&u=/thenation/20050609/cm_thenation/20050627edits_1
The appointment of Representative Christopher Cox to lead the Securities and Exchange Commission is as shameful as sending John Bolton to the United Nations, and should arouse a comparable swell of objections. Cox is a wholly owned agent of the financial and corporate interests the SEC is supposed to regulate. His political career has been financed by the same sectors--banking, accounting,
http://news.yahoo.com/news?tmpl=story&u=/thenation/20050609/cm_thenation/20050627edits_1
Trustees don’t understand investment – study
IPE.com 10/Jun/05: UK – An academic study supported by the National Association of Pension Funds has found that trustees have no common understanding of the principles of investment theory and practice.
http://www.ipe.com/article_default.asp?article=18902
IPE.com 10/Jun/05: UK – An academic study supported by the National Association of Pension Funds has found that trustees have no common understanding of the principles of investment theory and practice.
http://www.ipe.com/article_default.asp?article=18902
Instinet rejects Third Avenue
NEW YORK (Reuters) - Electronic brokerage Instinet Group Inc. Thursday rejected a bid by Third Avenue Management LLC to buy Instinet's institutional brokerage unit, saying it preferred a pending merger with the Nasdaq Stock Market Inc
http://money.cnn.com/rssclick/2005/06/10/markets/instinet.reut/index.htm?section=money_latest
NEW YORK (Reuters) - Electronic brokerage Instinet Group Inc. Thursday rejected a bid by Third Avenue Management LLC to buy Instinet's institutional brokerage unit, saying it preferred a pending merger with the Nasdaq Stock Market Inc
http://money.cnn.com/rssclick/2005/06/10/markets/instinet.reut/index.htm?section=money_latest
eSignal, a provider of financial and business information, has co-developed a new service that offers streaming, real-time quotes directly from the New York Mercantile Exchange.
http://www.cbronline.com/article_news.asp?guid=9E2DD1F8-D0BC-4FB4-8AB6-6175CB2B286E
The Crop Report Press Briefing will be available in Real Audio
http://www.cbot.com/cbot/pub/cont_detail/0,3206,1027+28771,00.html
Exchange Sets Volume Record for e-miNYsm Futures Contract
http://www.nymex.com/jsp/news/press_releas.jsp?id=pr20050609a
NYBOT Announces Revised Change To Cocoa Growth Differential For Sanchez Cocoa
http://www.nybot.com/releases/pressRelease.asp?releaseID=887
http://www.nybot.com/releases/pressRelease.asp?releaseID=887
Slovakia bourse to go private
The Slovak government is preparing the moribund Bratislava Stock Exchange for privatisation next year and views the neighbouring Vienna bourse as the leading candidate to buy it.
http://news.yahoo.com/news?tmpl=story&u=/ft/20050609/bs_ft/78f8c6fed91411d9840300000e2511c8
The Slovak government is preparing the moribund Bratislava Stock Exchange for privatisation next year and views the neighbouring Vienna bourse as the leading candidate to buy it.
http://news.yahoo.com/news?tmpl=story&u=/ft/20050609/bs_ft/78f8c6fed91411d9840300000e2511c8
CORPORATE EVENT: United Technologies 2 for 1 Stock Split
http://www.cme.com/clearing/clr/clradv/13496.html
http://www.cme.com/clearing/clr/clradv/13496.html
Chicago Climate Futures Exchange SO2 Allowance Cash and Futures Market Prices Survey Report Friday, June 10, 2005 9:30 a.m. Central Time Report |
||
SO2 Allowance Cash Market Survey |
||
Vintage Bid Offer Last |
||
2005 (or earlier) $760 $775 $760 ( June 9) |
||
2006 $755 $770 |
||
Cash Market Price Survey Overview The SO2 cash market price information provided above reflects central values |
National Futures Association: Resubmission of Proposed Amendments and Interpretive Notice to NFA Compliance Rule 2-6, Conducting Commodity Futures Business With An Expelled or Suspended Member or Associate
http://www.nfa.futures.org/news/newsRuleSubLetter.asp?ArticleID=1448
http://www.nfa.futures.org/news/newsRuleSubLetter.asp?ArticleID=1448
National Futures Association: Proposed Amendments to NFA's Code of Arbitration and Member Arbitration Rules
http://www.nfa.futures.org/news/newsRuleSubLetter.asp?ArticleID=1442 National Futures Association: Proposed Amendments to NFA Bylaw 306 and Interpretive Notice Regarding Forex Transactions With Forex Dealer Members
http://www.nfa.futures.org/news/newsRuleSubLetter.asp?ArticleID=1445 Notice of Claims Filing Deadline to All Customers of Offshore Financial Consultants Inc. (Florida or Georgia), International Currency Merchants Inc., or Global Financial Consultants Inc.
http://www.cftc.gov/enf/enfoffshore.htm Former AremisSoft CEO Roys Poyiadjis Pays Approximately $200 Million in Settlement of SEC Fraud Case
http://www.sec.gov/news/press/2005-87.htm
SEC Sues Companies and Individuals Involved in a Ponzi Scheme that Raised Approximately $6 Million from 600 Haitian-American Investors Living in South Florida
http://www.sec.gov/news/press/2005-86.htm 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/dig060905.txt Canadian Securities Regulators Launch Registration Reform Project Website [CSA]
http://www.bcsc.bc.ca/release.asp?id=2542
http://www.nfa.futures.org/news/newsRuleSubLetter.asp?ArticleID=1442 National Futures Association: Proposed Amendments to NFA Bylaw 306 and Interpretive Notice Regarding Forex Transactions With Forex Dealer Members
http://www.nfa.futures.org/news/newsRuleSubLetter.asp?ArticleID=1445 Notice of Claims Filing Deadline to All Customers of Offshore Financial Consultants Inc. (Florida or Georgia), International Currency Merchants Inc., or Global Financial Consultants Inc.
http://www.cftc.gov/enf/enfoffshore.htm Former AremisSoft CEO Roys Poyiadjis Pays Approximately $200 Million in Settlement of SEC Fraud Case
http://www.sec.gov/news/press/2005-87.htm
SEC Sues Companies and Individuals Involved in a Ponzi Scheme that Raised Approximately $6 Million from 600 Haitian-American Investors Living in South Florida
http://www.sec.gov/news/press/2005-86.htm 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/dig060905.txt Canadian Securities Regulators Launch Registration Reform Project Website [CSA]
http://www.bcsc.bc.ca/release.asp?id=2542
Spitzer loses hedge fund case
A former broker at Bank of America, Theodore Sihpol III, was found not guilty on Thursday of helping a New Jersey hedge fund illegally trade in mutual funds after the stock market had closed - a defeat for the New York attorney general Eliot Spitzer.
http://www.iht.com/articles/2005/06/09/business/sihpol.php
A former broker at Bank of America, Theodore Sihpol III, was found not guilty on Thursday of helping a New Jersey hedge fund illegally trade in mutual funds after the stock market had closed - a defeat for the New York attorney general Eliot Spitzer.
http://www.iht.com/articles/2005/06/09/business/sihpol.php
Schröder pulls back on hedge funds
Chancellor Gerhard Schröder's government has recommended that no German national curbs be imposed on hedge funds, saying it was better to seek joint controls with other European Union countries and the United States.
http://www.iht.com/articles/2005/06/09/business/hedge.php
Chancellor Gerhard Schröder's government has recommended that no German national curbs be imposed on hedge funds, saying it was better to seek joint controls with other European Union countries and the United States.
http://www.iht.com/articles/2005/06/09/business/hedge.php
http://www.bondtalk.com/global.cfm?S=todaysevents
Miscellaneous News
TradeWeb launches online trading for tri-party repo
Online fixed-income trading network Thomson TradeWeb has launched a multi-dealer electronic trading platform for tri-party repurchase agreements.
http://www.cbronline.com/article_news.asp?guid=8AB7A1D2-8E21-4649-B828-F1428DEBFB0A
Online fixed-income trading network Thomson TradeWeb has launched a multi-dealer electronic trading platform for tri-party repurchase agreements.
http://www.cbronline.com/article_news.asp?guid=8AB7A1D2-8E21-4649-B828-F1428DEBFB0A
SIA Forms Senior Advisory Council To Guide Industry's International Efforts
http://www.sia.com/press/2005_press_releases/04066637.html
http://www.sia.com/press/2005_press_releases/04066637.html
Pension Protection Act Will Give Workers The Information And Advice They Need To Prepare For Retirement
http://www.sia.com/press/2005_press_releases/04057223.html
http://www.sia.com/press/2005_press_releases/04057223.html
ISDA Publishes Asia Ex-Japan Interdealer Master Equity Derivatives Confirmation
http://www.isda.org/press/press060605.html
http://www.isda.org/press/press060605.html
Europe the driver for State Street, says CEO
IPE.com 10/Jun/05: UK – State Street Corp. is seeing its most dramatic growth in Europe, says chairman and chief executive Ron Logue. He told a gathering for journalists last night that the Boston-based bank’s business in Europe was growing three times as fast as in its home market.
http://www.ipe.com/article_default.asp?article=18901
IPE.com 10/Jun/05: UK – State Street Corp. is seeing its most dramatic growth in Europe, says chairman and chief executive Ron Logue. He told a gathering for journalists last night that the Boston-based bank’s business in Europe was growing three times as fast as in its home market.
http://www.ipe.com/article_default.asp?article=18901
Citigroup to pay $2 billion to settle Enron suit
NEW YORK-- Citigroup Inc., the nation's biggest financial institution, on Friday said it will pay $2 billion to settle a class-action lawsuit over its role in the sale of Enron Corp. stock and bonds before the energy company's collapse that cost investors billions of dollars.
http://www.suntimes.com/output/business/citigroup10.html
NEW YORK-- Citigroup Inc., the nation's biggest financial institution, on Friday said it will pay $2 billion to settle a class-action lawsuit over its role in the sale of Enron Corp. stock and bonds before the energy company's collapse that cost investors billions of dollars.
http://www.suntimes.com/output/business/citigroup10.html
Acquittal in Trading of Funds
http://www.nytimes.com/2005/06/10/business/10fund.html
http://www.nytimes.com/2005/06/10/business/10fund.html
China Weighs Modest Currency Change
http://www.nytimes.com/2005/06/10/business/worldbusiness/10yuan.html
http://www.nytimes.com/2005/06/10/business/worldbusiness/10yuan.html
No volume stats today. Have a nice weekend.
Regards,
John J. Lothian
Publisher
John Lothian Newsletter
John J. Lothian & Company, Inc.
|
||||||||||||||
|
||||||||||||||
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.
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.