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July
Crude oil has been unable to break forcefully above $80, despite a rally in recent weeks, and could fall back this week towards $77 for WTI, according to research published by the DGCX.
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Allan Mendelowitz, of the Committee to Establish the National Institute of Finance, has called the Dodd-Frank Act’s provision for transaction data monitoring “a tribute to the power of American democracy”.
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Gary Gensler, chairman of the US Commodity Futures Trading Commission, said yesterday (July 15) that the Dodd-Frank bill becoming law will not herald the end of financial reform in the US.
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The US Senate yesterday morning voted through the Dodd-Frank Wall Street Reform and Consumer Protection Act by 60 votes to 38, allowing it to defeat a Republican filibuster.
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ICAP, the world’s largest inter-dealer broker, has enjoyed an 8% year on year rise in revenues during its second quarter. From April 1 2010 to June 30, the group’s profit grew by 5%.
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The Rosario Futures Exchange has enjoyed its strongest month since the advent of the financial crisis, with 5.8m contracts changing hands, up from 5.5m traded in June 2009.
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BM&F Bovespa, the Brazilian exchange, has enjoyed a strong month of trading in its equity options segment.
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The Polish Futures Market, a subsidiary of the Warsaw Commodities Exchange (WGT), has signed an agreement with WDX Organisation to list Wocu Futures and Options.
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The Dodd-Frank Act still includes watered-down versions of the Volcker Rule and the Lincoln Amendment, both of which seek to limit deposit-taking banks’ engagement in riskier activities, often involving derivatives.
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June
DAS Trader – which its maker claims is the fastest software for the US stockmarket – has released new trading apps for Apple’s iPhone and iPad. But as Tom Osborn discovers, it faces a crowded field of competitors.
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Asking the SEC and CFTC to cooperate on new derivatives rules sounds like a great idea. But Philip McBride Johnson has a word of warning. The two see eye to eye about as much as Barack Obama and Sarah Palin.
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May
Germany’s short selling ban could be replaced by tougher regulation which would ban speculation on currency derivatives and would restrict the use of equity futures to go short.
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In a tightly controlled derivatives market like India’s, regulatory permission to launch a new product is like the starting gun in a race. As Benjamin Beasley-Murray reports, the hardest battle now is over FX derivatives.
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Dubai Gold and Commodities Exchange plans to introduce three currency futures on June 15. These will be on the Swiss franc, Australian dollar and Canadian dollar, all against the US dollar. They will be cleared by the Dubai Commodities Clearing Corporation.
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April
India’s central bank, the Reserve Bank of India, has approved the introduction of the country’s first currency option, a rupee/ US dollar contract.
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Celebrating its 100th birthday last year, the Rofex is enjoying record volumes. It is merging with the Rosario Stock Exchange, and a deal with the Buenos Aires Futures Market is in the air. Tom Osborn meets the bourse's COO, Ismael Caram.
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March
New contracts typically struggle to succeed. And they struggle all the more when times are tough. But, as Colin Packham discovers, while the majority of most new contracts in 2009 failed to attract interest, there were some notable winners, particularly in China.
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Gary Gensler, the chairman of the Commodity Futures Trading Commission, said in a speech to the European Parliament’s that reform of the way over-the-counter derivatives are regulated must be “comprehensive and international”.
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Argentina’s leading futures exchanges, the Mercado a Término de Buenos Aires and Rosario Futures Exchange, are holding talks on a possible merger, FOW has learned.
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Newedge, the derivatives broker owned by Société Générale and Crédit Agricole, announced a reorganisation of its business yesterday at the annual Futures Industry Association conference in Boca Raton, Florida.
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February
Newedge, the derivatives and securities brokerage, has appointed Laurent Cunin as head of its Asia Pacific operations, based in Hong Kong.
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Gauging how many derivatives staff lost their jobs in the financial crisis and what effect that had on pay is not easy. Some segments of the market have remained bullish, however, as Hugo Cox discovers.
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BM&FBovespa and the Chicago Mercantile Exchange Group have signed a memorandum of understanding to jointly develop a multi-asset class trading platform.