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November 16, 2010
Intermission on the Stage of World Finance | seekingalpha.com
QE2 could cause a currency war, the US had a choice, and we will have inflation.
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CME Buys 90 Percent of Dow Jones indexes in joint venture
March 23, 2010
CME pays 600 million for Dow IndexesPolitical and regulatory headwindsManagement team has strengths and weaknessesCME Board of Directors bloated CME buys 90 percent of Dow indexes in joint venture | Reuters
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Always hard to predict the market.
March 20, 2010
Recovery or Intermediate Bounce? | seekingalpha.com
It is very hard to say if we will re-enter a deeper recession or continue to rally on Wall Street. The fear is the Fed will continue with monetary easeProbability theory is a good crutch
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CBOE to vote on demutualization in June
March 20, 2010
CBOE to vote on demutualization in June | www.chicagobreakingbusiness.com
CBOE members will vote in June on demutualizationJuly IPO is plannedPossible acquisition candidates
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March 2, 2010
CME Volume | news.moneycentral.msn.com
CME volume is up 17% YOY.However, February of 2009 was not much to compare to.
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March 1, 2010
Today's Market: Bargain Hunting or Short Covering at the Close? | seekingalpha.com
www.pointsandfigures.com see midday market comment
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March 1, 2010
CFTC, SEC eye Clearinghouses | abcnews.go.com
Gensler on the side of the New York banks. Against self regulation by independent clearing operations
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Nice valuable piece of clay to work with
February 11, 2010
CME to buy 90% of Dow Jones indexes | www.suntimes.com
CME pays 610 Million for 130,000 Dow Jones Indexes
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Earnings miss, but management is missing
February 6, 2010
cme-group-inc-q4-2009-earnings-call-transcript | seekingalpha.com
CME missed earnings. The way the company is run has more to do with it than the business model.CME faces competition, but mostly from NY banks and the CFTC.ELX=parasite exchangeNo innovation.
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February 6, 2010
Today's Market: Bargain Hunting or Short Covering at the Close? | seekingalpha.com
Shorts ran for cover on the close. The market is trading off of the British Pound. The Pound came off it's lows and this gave a boost to the market. The market discounted unemployment. Too many people are not even being counted now. The market is very wary of Europe.
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January 28, 2010
CME Insists It Doesn't Have to Accept Rivals Trades | online.wsj.com
ELX got a favorable ruling from the CFTC regarding it's rule changeCME doesn't have to accept the ELX interpretation of an ELX rule
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November 6, 2009
Swiss Banks Lose European Clients | online.wsj.com
The article is correct. Money is flowing to Singapore. Not only money from Switzerland, but also money from China, Russia, and Indonesia. People do not trust their governments, and they are putting their trust in the benevolent dictator in Singapore. Singapore's government can stand up to the pressure put on it by other governments. It is a cross roads nation, and they have done a very good job positioning themselves to be a center of commerce in Asia. I think the other thing the article proves is that people respond to incentives. If a government gets too overbearing, they will hide money. Look for the underground economy in the US to grow with the heavy tax hand of the Obama administration.
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March 3, 2008
Nymex stakes in other exchanges a factor in talks with CME | www.marketwatch.com
The DOJ has implied in an internal memo that the CME is a monopoly. The Futures Industry Association concurs. The CFTC, and key members of Congress do not concur. In order for the CME to lose its clearing house, it will take an act of Congress and approval by the CFTC. While the debate will happen, it is doubtful at this point that the CME will lose. Exchanges world wide are seeking to vertically integrate and copy the CME business model.
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January 29, 2008
CME-Nymex: Good Deal? | online.wsj.com
CME is seeking to create a end to end solution for commodities. It will be the number one provider of all commodity asset classes. NYMEX has risk going forward if volumes drop, and has not invested enough in technology to be a robust competitor going forward.
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uncertainty crisis-nothing more
January 22, 2008
The next banking crisis on the way | articles.moneycentral.msn.com
This meltdown was caused by uncertainty. The root of the cause was the investment banking community. Mark to model, rather than mark to market was the practice, and caused distortions in financial pictures.
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December 10, 2007
Singapore Hedge Fund Mecca Lures Japanese Dismayed by Regulator | www.bloomberg.com
There are two key points to the analysis to focus on. First, taxes. Taxes should be looked at as incentives for behavior, not ways for the government to collect revenue. Countries that are low tax are enjoying boomlets. Ireland comes to mind. Singapore has aggressively courted the buy side because they understand that not only do they bring jobs, but they bring in and create the human networks necessary to keep the economic environment active. Second, Japan is not a diverse society. They do not have a lot of immigration. This lack of diversity leads to decisions by entities that only benefits the ones in power. Hence, firms from outside the bubble cannot close deals. Why keep trying when there are other opportunities? Third, rents and those types of operating costs are not relevant. London has a huge population of hedge funds, and it is one of the most expensive places on the planet.
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December 6, 2007
Why Municipal Bonds Are Stumbling | www.kiplinger.com
sub prime woes spread
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November 2, 2007
CME Buy of CBOT Easily Approved by Shareholders | www.reuters.com
Since the merger was finalized, we have had time to reflect on the beginnings of the outcome. The integration of the two cultures is going swimmingly. Even though the two exchanges were in the same business, they had very different ways of doing things. This extended from the trading floor all the way back to the executive offices. CME is running the technology as far as computer trading is concerned. The new trading floor will incorporate existing CBOT technology. The new add is the CME's handheld (GALAX-C). This will add a lot of volume to existing contracts since it allows current pit traders to directly and easily access the screen. The trader can access the screen in multiple contracts as well. CME is ahead of schedule on the integration. It remains to be seen if they can capture the cost efficiencies they trumpeted in the merger. My best guess is that they will exceed those initial estimates.
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October 29, 2007
Chicago Mercantile posts 42% jump in first-quarter earnings | www.belleville.com
CME reports record profits Trading volume up New deal with Brazilian exchange
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October 25, 2007
Banks face more writedowns in fourth quarter | www.financialnews-us.com
Investment banks had a choice this quarter. Recognize losses now, or hope things improved next quarter and they could hide them now and try to rectify them later. Merrill chose to take the pain. Other banks that posted profits this quarter now have statements that are suspect in my opinion. They are settling a lot of these exotic derivative products to models that they dreamed up. You can manipulate settlements for a while. But at the end of the year, the pigeons come home to roost.
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