June 17, 2005

 

Lead Stories

 

Eurex throws in towel on US Treasuries, eyes FX

Thu Jun 16, 2005 05:57 PM ET

By Nieck Ammerlaan and Ros Krasny

FRANKFURT/CHICAGO, June 16 (Reuters) - European derivatives giant Eurex said on Thursday it had failed in its bid to break Chicago's dominance in U.S. Treasury futures, the latest blow for leaderless co-owner Deutsche Boerse (DB1Gn.DE: Quote, Profile, Research) .  Eurex will now shift gears by listing currency futures on its Eurex US platform in September, filling what chief executive Rudolf Ferscha termed "the big gaping hole in the asset classes offered by Eurex."

http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=8816491

 

**** Eurex US will have 26 employees going forward, down from 34, due to attrition and repatriation of some employees to Eurex, AG.  There was no reduction in force, according to Eurex sources.  By comparison, before Eurex launched Eurex US, they had 16 employees in their Chicago representative’s office headed by two Board members.  

 

Eurex plans to offer 24-hour futures trading

By Jeremy Grant in Chicago

Eurex, the world's largest derivatives exchange, on Thursday said it planned 24-hour trading of its flagship European futures products, allowing traders in Asia and many in the US access to its markets on a single electronic system for the first time.  The move would put the derivatives arm of Deutsche Börse and the Swiss SWX stock exchange on equal footing with the two big Chicago futures exchanges, as well as rival Euronext.Liffe, which already have such global distribution.

http://news.ft.com/cms/s/b2f60fd8-de87-11d9-92cd-00000e2511c8.html

 

***** Online FT subscription required.

 

Eurex issues a challenge to CME

By Jennifer Hughes

Eurex's move into the foreign exchange futures market will be watched with interest by forex market participants, because it is the first serious competition to the Chicago Mercantile Exchange's domination of the market.  First reported in the Financial Times last Friday, Eurex yesterday confirmed it would offer contracts in a range of leading currencies from September 23.

http://news.ft.com/cms/s/58c260a2-decd-11d9-92cd-00000e2511c8.html

 

Eurex planning to take on Merc in currency trade

BY DAVID ROEDER Business Reporter

While promising to inject competition into the trading of currency futures, Eurex conceded defeat Thursday in its effort to wrest the U.S. Treasury futures market from the Chicago Board of Trade.

The new currency campaign puts Frankfurt-based Eurex on a collision course with the Chicago Mercantile Exchange. While some 95 percent of currency trading occurs in over-the-counter markets, the Merc has a lock on the business transacted through an exchange.

http://www.suntimes.com/output/business/cst-fin-eurex17.html

 

***** Don’t forget NYBOT also has FX trading, including EFPs.

 

EURONEXT.LIFFE INTRODUCES PACK AND BUNDLE TRADING ON EURIBOR AND SHORT STERLING CONTRACTS

Amsterdam, Brussels, Lisbon, London, Paris, Friday 17th June 2005 - Euronext.liffe, the international derivatives business of Euronext N.V., today announced the introduction of Pack and Bundle trading, from 1 September 2005, in the Three Month EURIBOR and Three Month Sterling contracts. New strategy pricing for Pack and Bundle trading in these contracts will be introduced, and is supported by LCH.Clearnet

The new package rate for each Pack and Bundle strategy will replace the existing structure of charging for individual outright delivery months, and will offer customers substantial reductions. All other pricing for trading both in outright delivery months and other strategies will remain unchanged.  Pack and Bundle strategies have a wide range of uses, in particular offering an efficient alternative for hedging shorter term bonds and swaps. The new Pack and Bundle pricing structure will mean customers can enjoy the greater accuracy and flexibility offered by Packs and Bundles at much lower cost.

http://www.euronext.com/news/press_releases/0,4159,1732_8275,00.html

 

China Securities Clearing House in Trouble By ELAINE KURTENBACH, AP Business Writer

SHANGHAI, China - China's central securities clearing house, the Securities Depository & Clearing Corp., is facing a possible financial crisis due to the huge debts owed to it by ailing brokerages, a report said Thursday.  The state-owned clearing house has recorded losses totaling more than $12.1 billion and is being kept afloat by central bank lending, the financial magazine Caijing reported in its latest issue.

http://news.yahoo.com/news?tmpl=story&u=/ap/20050616/ap_on_bi_ge/china_stock_market_4

 

Citigroup Cleared by Eurex in Bond Trading Probe (Update2)

June 17 (Bloomberg) -- Citigroup Inc., the world's biggest bank, said it was cleared by the Eurex AG sanction committee of breaching ``general principles'' after roiling markets with a barrage of bond trades last August.

http://www.bloomberg.com/apps/news?pid=10000085&sid=aaj8j2kxUS_A

 

Nesbitt cites market synergie as reason for success

TSX Group chief executive officer Richard Nesbitt addressed the TSX Group's focus on efficiency, speaking to a luncheon audience in Halifax today.

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=29265&IdSection=15&cat=15

 

Revenge Of The Traders

NEW YORK - Merrill Lynch may be plotting its revenge against Goldman Sachs Group.

The investment bank is taking a 10% stake in the Philadelphia Stock Exchange, with an option to acquire an additional 9.9%. The seemingly innocuous investment in a regional stock exchange possibly has a big ulterior motive: Merrill (nyse: MER - news - people ) can redirect its order flow to Philly away from the New York Stock Exchange.  Merrill is one of the biggest brokers at the Big Board, making up 7% to 12% of its daily volume. But its senior management was annoyed in April when the NYSE announced its deal to merge with Chicago-based electronic network Archipelago Holdings

http://www.forbes.com/work/management/2005/06/17/merrill-philadelphia-exchange-revenge-cx_lm_0617philx.html

 

CBOT June 2005 Dow Futures Settlements

The CBOT Dow Jones Industrial Average futures contract and the CBOT mini-sized Dow futures contract for the June 2005 expiry will be cash settled today based upon the following special opening quotation (SOQ)

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1027+27213,00.html

 

Academics 'troubled' by trustees' incompetence

June-17-2005 - Oxford University researchers found "troubling" evidence that pension fund trustees have no common understanding of investment decision-making theory and practice

http://www.marhedge.com/news/Cover.Hedge.asp?s=HedgeH-2005-06-16-15-51-15p1.htm

 

 

University of Illinois Coach Bruce Weber Rings Opening Bell

University of Illinois Coach Bruce Weber rings the opening bell on CBOT's agricultural trading floor.

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1027+28914,00.html

 

***** Big Chief Basketball Coach.  Former Purdue University Assistant Coach.  He never got the Purdue job because he would not adopt the Gene Keady comb-over hair style.

 

Environmental Trading News

 

Exchange to Launch Emissions Futures Contracts 

NEW YORK, N.Y., June 14, 2004 — The New York Mercantile Exchange, Inc., announced today that it will introduce a sulfur dioxide and nitrogen oxide emissions futures contracts on NYMEX ClearPort® beginning on June 19 for the June 20 trading session.

http://www.nymex.com/jsp/news/press_releas.jsp?id=pr20050614a

 

What's the Market Value of Polluting Your Atmosphere?

Chicago Climate Exchange: An Emissions Trading Market -- businesses can learn from the free market, but will pollution victims be compensated?

http://www.progress.org/2005/trade18.htm

 

U.S. Conference of Mayors Passes Unanimous Resolution Supporting the Chicago Climate Exchange

http://www.chicagoclimateexchange.com/news/press/release_20050616_Mayors.html

 

Chicago Climate Exchange paves the way for U.S. emissions trading

The Oakland airport seems perfectly situated. Unlike many urban airports, which require an expensive taxi trip or hour-long train ride to reach the city where you thought you'd just arrived, downtown lies mere minutes away. Such convenience is possible because the runways sit on a former wetland at the edge of San Francisco Bay. But this prime location could prove costly.

http://www.grist.org/news/maindish/2005/06/14/margolis-ccx/index.html?source=daily

 

Senators vote for expansion of ethanol use

Columbia Daily Tribune - Jun 16 12:18 PM

WASHINGTON (AP) - The Senate yesterday endorsed a broad expansion of the use of ethanol in gasoline, despite claims by opponents that it would force up gasoline prices outside the Farm Belt and reduce fuel economy.

http://www.showmenews.com/2005/Jun/20050616News028.asp

 

Exchange & ECN News

 

Chicago Merc Flies A Bullish Flag

NEW YORK - In 2004, shares of the Chicago Mercantile Exchange more than tripled to close the year at $227.73. Since then, they've coasted downward, nearly to $170 and then, beginning in April, spiked back up with a vengeance.

http://www.forbes.com/newsletter/2005/06/16/chicagomerk-archipelago-stock-cx_mr_0616chartroom_inl.html

 

Favorable Trends Have Futures Exchange Turning Up The Volume By Steve Watkins

As more investors hedge their bets through the use of options and futures, Chicago Mercantile Exchange Holdings is reaping the rewards.

http://news.yahoo.com/news?tmpl=story&u=/ibd/20050616/bs_ibd_ibd/2005616newamer

 

That's Liffe

PHIL BRUCE, who quit the London Stock Exchange almost a year ago, has quietly resurfaced at Liffe, the London futures market owned by Euronext, as “senior strategy adviser in charge of derivatives”. He had already spent 15 years of his career at Liffe and is, indeed, a derivatives expert. 

http://business.timesonline.co.uk/article/0%2C%2C8210-1657462%2C00.html

 

TSX says could deal its way to derivatives markets

TORONTO (Reuters) - TSX Group Inc. could negotiate a move into the Canadian derivatives market before its non-compete agreement with the Montreal Exchange expires in 2009, its chief executive said on Thursday.

http://www.reuters.ca/locales/c_newsArticle.jsp%3B:42b2bed9:ed7be8d82c65baa?type=businessNews&localeKey=en_CA&storyID=8815572

 

CBOT Dow Jones Strike Price Notice, June 17, 2005

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1032+28898,00.html

 

CBOT Strike Price Notice, June 17, 2005

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1032+28897,00.html

 

CBOT Trading Position Change Notice, Corn, June 21, 2005

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1032+28913,00.html

 

Chicago Mercantile Exchange Holdings Chairman, CEO and CFO to Present at William Blair Conference

http://www.cme.com/about/press/cn/05-84WilliamBlairConference13601.html

 

Reminder: New CME ETF Futures on Globex-Effective Monday, June 20th

http://www.cme.com/clearing/clr/clradv/13614.html

 

The Archipelago Exchange(SM) (ArcaEx(R)) Announces Dual Listing of Synagro Technologies

http://investor.archipelago.com/phoenix.zhtml?c=140290&p=irol-newsArticle&ID=721229&highlight=

 

Exchange Surpasses 200,000 Contracts Cleared on NYMEX Clearport® in a Single Day 

http://www.nymex.com/jsp/news/press_releas.jsp?id=pr20050614b

 

NYSE Seat Sells for $2,500,000

http://www.nyse.com/press/1119004779756.html

 

NYSE Sets New Record First-Hour Trading Volume

http://www.nyse.com/press/1119004779685.html

 

Program Trading Averaged 53.3 Percent of NYSE Volume during June 6-10

http://www.nyse.com/press/1118918238487.html

 

NYSE Newsletter: June 2005

This month: NYSE stays focused amid tectonic changes, NYSE uses the Web to raise issuers’ profiles, CBS bids adieu to hit comedy, and volunteers on the trading floor help physically and mentally challenged children.

http://www.nyse.com/about/publication/1105214472043.html?sa_campaign=/internal_ads/homepage/publications/newsletter/june2005

 

Electronic Trading Newsflashes: ESpeed Submits Bid for Majority Stake in MTS, and more.

http://www.wallstreetandtech.com/showArticle.jhtml?articleID=164900195#_

 

NYBOT Announces Board Of Governors Appointments

http://www.nybot.com/releases/pressRelease.asp?releaseID=890

 

NYBOT Announces July Fourth Holiday Schedule

http://www.nybot.com/releases/pressRelease.asp?releaseID=889

 

E-Weekly News Briefs, June 13 - 17

The London Metal Exchange (LME), which started trading polyolefin futures late last month, has lost the support of the world's largest producer of polypropylene and one of the top European manufacturers of polyethylene, Basell (Hoofddorp, Netherlands).

http://www.modplas.com/inc/mparticle.php?section=eweekly&thefilename=eweekly05012005_23

 

Merrill Lynch, Citadel take 10% stakes in Philadelphia exchange

First steps in strategy to grow PHLX's business

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=29256&IdSection=15&cat=15

 

NexTrade's ECN, a New Member of the Philadelphia Stock Exchange

NexTrade Holdings Inc. is pleased to announce that its wholly owned subsidiary OnTrade Inc., the operator of its ECN -- Electronic Communications Network -- has been accepted as a member of the Philadelphia Stock Exchange.

http://biz.yahoo.com/prnews/050616/flth013.html?.v=8

 

OneChicago To List Deere & Co. June 20 

http://www.onechicago.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/dig061605.txt

 

NFA Website

Web site availability notice:

Due to scheduled maintenance, this site will be unavailable from 11:00 PM Saturday 6/18/2005 until 2:00 AM Sunday 6/19/2005 and from 10:00 PM Friday 6/24/2005 until 5:00 PM Sunday 6/26/2005.

We apologize for any inconvenience this may cause you.

http://www.nfa.futures.org/

 

Request for Information (Correction)

Please contact Matthew Hoppe of NFA's Compliance Department at (312) 658-6590 or Vilia Sutkus-Kiela at (312) 781-1346 immediately if you currently carry or have ever carried any accounts (including joint accounts) for or directed by, or have otherwise ever transacted business with any of the following individuals or entities:

Pippin Investments

Stuart Pippin

http://www.nfa.futures.org/news/newsNotice.asp?ArticleID=1450

 

Vincent P. McCrudden and Managed Accounts Asset Management LLC

http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0204180&case=05REG00001&contrib=NFA

http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0265500&case=05REG00001&contrib=NFA

 

Florida Commodity Pool Operator Longboat Global Funds Management & its President Charged with Fraud 

http://www.cftc.gov/opa/enf05/opa5084-05.htm

 

CFTC & State of New Hampshire Bring Sales Fraud Claims Against Florida Trading Firm Cromwell Financial Services, Inc. and Others 

http://www.cftc.gov/opa/enf05/opa5083-05.htm

 

CFTC Moves to Enforce Subpoena Served on McGraw-Hill; Subpoena Seeks Energy-Related Documents in Ongoing Investigation 

http://www.cftc.gov/opa/enf05/opa5082-05.htm

 

CFTC Weekly Advisory

http://www.cftc.gov/opa/adv05/opawa25-05.htm

 

Disclosure burdensome to smaller companies, says Nasdaq vp

Companies delisting due to the burdens of SOX 404

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=29264&IdSection=15&cat=15

 

BCSC finds promoter traded on inside information, manipulated market

Sanctions pending on Siddiqi

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=29263&IdSection=8&cat=8

 

MFDA offers guidance on limited trading authorizations

April 2005 form clarified

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=29253&IdSection=8&cat=8

 

OSC chairman says retail investors need protection

Regulator promises more Investor Town Halls in the future

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=29252&IdSection=8&cat=8

 

Commodity commission pressures McGraw-Hill for data

The Commodity Futures Trading Commission has reportedly asked a federal court to force McGraw-Hill Cos. to turn over documents related to one of its energy-related newsletters, saying that an energy trader gave false data to the publisher in an effort to manipulate the natural gas market

http://newyorkbusiness.com/news.cms?id=10937

 

Forward Markets Commission to be made independent regulator

Kerala News, KOCHI : The Forward Markets Commission (FMC), overseeing the functioning of the three national and 24 regional Commodities futures trading exchanges in the country, will soon be made an independent, autonomous regulator like the Securities and Exchange Board of India (SEBI), FMC chairman S Sundareshan said today.

http://www.keralanext.com/news/indexread.asp?id=230413

 

SIA Testifies On Critical Importance Of U.S.-EU Financial Services Relationship

http://www.sia.com/press/2005_press_releases/04132173.html

 

The Bond Market Association And The Securities Industry Association Suggest Changes To Proposed Definition Of NRSRO

http://www.sia.com/press/2005_press_releases/04121955.html

 

Commission finds promoter traded on inside information and manipulated the stock market

http://www.bcsc.bc.ca/release.asp?id=2563

 

SEC study calls for improved bookkeeping

Washington: A US Securities and Exchange Commission (SEC) study issued yesterday called for overhauling company financial reporting, part of an effort by the agency to make corporate bookkeeping easier for investors to comprehend.

http://biz.thestar.com.my/news/story.asp?file=/2005/6/17/business/11244732&sec=business

 

SEC Aims E-Mail Requests At High Risk Activity

The Securities and Exchange Commission is developing a risk-based approach to requesting e-mail from investment advisers and mutual funds and will no longer ask chief compliance officers to turn over e-mail.

http://www.compliancereporter.com/default.asp?page=1&SID=519099&ISS=16999

 

Goldschmid to Wait for Replacement at SEC

A key Securities and Exchange Commission official has said he will remain on the job until his replacement is confirmed by the Senate to help ensure the agency remains at an even political balance.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/16/AR2005061601609.html?nav=rss_business

 

UBS fined $175,000, censured by NASD

UBS Financial Services Inc. of Weehawken has been censured and fined $175,000 to settle charges it allowed clients to invest too much in a risky investment.

http://www.northjersey.com/page.php?qstr=eXJpcnk3ZjczN2Y3dnFlZUVFeXkyOCZmZ2JlbDdmN3ZxZWVFRXl5NjcwOTEwNCZ5cmlyeTdmNzE3Zjd2cWVlRUV5eTI=

 

Enforcement Actions Coming In NASD Entertainment Probe

The NASD is planning enforcement actions against member firms as the result of its ongoing sweep into broker/dealer gift giving and entertainment policies, said Barry Goldsmith , executive v.p. of the NASD's enforcement.

http://www.compliancereporter.com/default.asp?page=1&SID=519108&ISS=16999

 

Former broker faces probe

A former broker from Mount Vernon is under investigation by the National Association of Security Dealers, which alleges that he lied to three customers about the financial condition of a company whose shares he recommended to them.

http://www.thejournalnews.com/apps/pbcs.dll/article?AID=/20050617/BUSINESS01/506170304/1066

 

Managed Futures - Managed Funds

 

Germany and U.S. differ on hedge funds 

FRANKFURT Germany and the United States are parting company again, this time over Chancellor Gerhard Schröder's call for international regulations to govern hedge funds.

The U.S. Treasury secretary, John Snow, speaking here Thursday at the end of a five-country European tour, said the United States opposed "heavy-handed" curbs on markets. He said he was not familiar with the German proposals, but he left little doubt about how Washington would react.

http://www.iht.com/articles/2005/06/16/business/hedge.php

 

Eichel and Snow 'seek hedge fund clarity'

Hans Eichel, Germany's finance minister, said yesterday he had secured the backing of John Snow, the US Treasury secretary, in the German government's drive to clamp down on hedge fund activity that many fear is destabilising companies.

http://news.ft.com/cms/s/ef32fc7c-decd-11d9-92cd-00000e2511c8.html

 

Goldman profit down and below target but stock up

NEW YORK (Reuters) - U.S. investment bank Goldman Sachs Group Inc. on Thursday said its second-quarter earnings fell 27 percent, short of expectations, as volatile markets drove away investors and sapped trading profit.

http://www.reuters.com/newsArticle.jhtml?storyID=8816329&type=businessNews

 

Market Risk – Global Hedge Fund Index Gains in May

http://www.garp.com/risknews/newsfeed.asp?Category=6&MyFile=2005-06-17-11014.html

 

LA firemen and police will invest in funds of funds

June-17-2005 - The board of directors of the City of Los Angeles Fire & Police Pension System has formally adopted a policy that allows the pension to evaluate and invest in hedge funds

http://www.marhedge.com/news/Cover.Strat.asp?s=StratH-2005-06-17-10-25-10p1.htm

 

Hedge fund execs indicted

Federal prosecutors indicted two co-founders of a San Diego hedge fund and their office administrator Thursday, accusing them of stealing more than $100 million from investors, many of them in Sonoma County.

http://www1.pressdemocrat.com/apps/pbcs.dll/article?AID=/20050617/NEWS/506170384/1036/BUSINESS

 

Mom nabbed in hedge fund scam

NEW HAVEN -- The mother of the 21-year-old New York University student already jailed on bank fraud charges was arrested yesterday morning and both were charged with wire fraud after wealthy investors put $7.4 million in a hedge fund prosecutors say didn't exist.

http://www.greenwichtime.com/scn-gt-scam1jun17,0,4021510.story?coll=green-top-headlines

 

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

 

Jason Carver Joins Alaron as the Chief Financial Officer for Alaron Trading Corporation

Alaron Trading Corporation announced today that Mr. Jason Carver has been appointed as the new Chief Financial Officer for Alaron Trading Corp.

http://biz.yahoo.com/prnews/050614/cgtu072.html?.v=8

 

WTC biz guy gets a double

Sculptor Seward Johnson with original 'Double Check' businessman figure (r.) and memorial version, with modeled mementos left by workers at Ground Zero. 

The image told a remarkable story of 9/11 resiliency: Amid the fallen debris of the World Trade Center, a popular bronze sculpture of a businessman survived - dented but unbroken.

Then the Liberty Plaza sculpture, titled "Double Check," became something more meaningful. Rescue workers put an FBI hardhat on his head and a coil of fire hose at his side. They dangled a crucifix from his briefcase and laid six bunches of gladiolas in his arms. Someone duct-taped a scrawled message on the raised half of his briefcase: "In memory of those who gave their lives to try and save so many."

http://www.nydailynews.com/news/story/319737p-273428c.html

 

Just the ticket

The ticket tout is, in the eyes of some, among the lowest forms of life, alongside the spiv, the black marketeer and the profiteer. What they do is no different to brokers or estate agents: bring together buyers and sellers as market makers. Now, the advent of eBay, the internet auctioneer, has threatened the way of life of the world's Arthur Daleys. It makes buying and selling small items, such as tickets to sports events or concerts, convenient, easy and relatively safe. It is also more efficient, in an economics sense, than the old fashioned Mac-wearing spiv mumbling "two together". By advertising its offerings widely and accessibly, eBay allows sellers to gain a better price while taking just a modest cut.

http://www.guardian.co.uk/online/news/0,12597,1507356,00.html

 

Bear Stearns rises on ISE share sale

Bear Stearns reported a 5 per cent rise in earnings to $365m in the second quarter helped by gains on the sale of shares in the International Securities Exchange.

http://news.ft.com/cms/s/60bb4884-de03-11d9-a42f-00000e2511c8.html

 

Reuters and Vhayu Technologies Enter into a Worldwide Distribution and Support Agreement of Vhayu Products Integrated

Reuters , the global information company, and Vhayu Technologies, a leading vendor for algorithmic trading technologies, today announced a worldwide agreement in which Reuters will distribute and support Vhayu Technologies application software optimized for Reuters data and feeds with value added capabilities around Reuters low latency Direct Feeds and the Market Data Distribution platform.

http://biz.yahoo.com/bw/050616/165110.html?.v=1

 

Schwab goes upscale, succeeding splendidly

Charles Schwab & Co., the discount-brokerage firm, is fast becoming a startlingly different type of brokerage firm - one that specializes in managing money for well-to-do people. And its transformation seems to be going nicely.

http://www.dailyrecord.com/business/business2-bor17.htm

 

Association of banks, federal agency sue NY Attorney General Spitzer

NEW YORK, June 17 (newratings.com) - The US Office of the Comptroller of Currency (OCC), along with a group of banks including JP Morgan Chase & Co and HSBC Bank USA, Thursday filed a suit in a federal court against New York Attorney General Eliot Sptizer.

http://www.newratings.com/analyst_news/article_878257.html

 

John's Comments

 

Back From New York

 

First off, I am back from New York City and I am not sure why.  They Chicago Cubs baseball team is in New York to play the Yankees for the first time in Yankee Stadium since the 1938 World Series. I should have stayed in New York to cheer on my team.

 

Second.  I am thankful to Jon Matte for his valiant attempts to overcome the Internet connectivity demons to produce the newsletter during my absence. 

 

Lastly, thank you to the ISE, NYMEX, NYBOT, Securities Week and the Wall Street Journal for a gracious helping of New York hospitality during my visit.  I greatly appreciated it and had an informative and entertaining visit.

 

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.