Filed under: Exchanges

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CME’s Duffy: Hard to break up D.Boerse-NYSE

CME Group Inc. would find it hard to counter Deutsche Boerse AG’s takeover bid for NYSE Euronext because of the steep breakup fee on the cross-Atlantic deal, CME’s executive chairman said. Get the full story »

CFTC’s Gensler: Financial system still uncertain

Preventing another financial crisis similar to the one that shook the markets in 2008 requires a global effort and cannot be done by one nation alone, the head of the U.S. Commodity Futures Trading Commission said on Tuesday.

Gary Gensler, the chairman of the CFTC, the regulator of futures markets, said even though it is more than two years since the crisis exposed flaws in global financial and regulatory systems around the world, “significant uncertainty” still remains. Get the full story »

Schwab’s optionsXpress acquisition scrutinized

Charles Schwab is acquiring Chicago-based online brokerage optionsXpress Holdings Inc. for about $1 billion, the companies announced Monday.

OptionsXpress stockholders will receive 1.02 shares of Schwab stock for each share of optionsXpress stock, under the terms of the deal, which is expected to close in the third quarter of 2011. Get the full story »

CBOE’s second exchange, C2, expected to take off

CBOE Holdings Inc.’s second exchange, C2, could quickly boost its market share once it lists the exclusive Standard & Poor’s 500 Index option, the head of a rival exchange said on Thursday.

“I wouldn’t be surprised at all if C2 didn’t rocket to 5 percent market share,” Jeromee Johnson, head of the BATS Options exchange said at the Futures Industry Association’s annual meeting. Listing S&P 500 index options electronically for the first time offers a “phenomenal opportunity,” he said on a panel discussion with the other U.S. options markets.

Options Clearing Corp. changes name to OCC

From Bloomberg | Chicago-based Options Clearing Corp. changed its name to OCC, according to a statement from the group which clears and settles all trading of U.S. exchange-listed equity derivatives contracts.

Wall St. ‘fear gauge’ jumps 30% on Japan crisis

The CBOE Volatility Index , Wall Street’s fear gauge, shot up nearly 30 percent Wednesday, its biggest daily percentage move since May, as major U.S. stock indexes turned negative for the year due to mounting concerns about Japan’s nuclear crisis.

The market fell for a third day Wednesday but investors grew overly concerned as the fear gauge rose above the psychologically significantly level of 30 for the first time since July. Get the full story »

ICE: Exchange mergers a consequence of reforms

Mergers sweeping financial exchanges are in part an unintended consequence of global financial regulatory reforms, the head of IntercontinentalExchange Inc. said Wednesday. Get the full story »

CBOE to build up VIX in effort to lure traders

The Chicago Board Options Exchange said it plans to expand its volatility-index franchise, aiming to lure more traders to an area where it already leads its competition.

The exchange, part of CBOE Holdings Inc., said in a release Wednesday that it plans to list options on single-stock volatility measures and to extend the franchise to a raft of sector exchange-traded funds. The CBOE Volatility Index, or VIX, is often called the “fear index” and is the most widely followed gauge of investor expectations for stock-market swings. Get the full story »

Nasdaq faces hurdles in winning NYSE, say experts

Nasdaq OMX Group Inc.’s possible counterbid for NYSE Euronext faces some big hurdles, including funding a complicated deal and convincing Big Board shareholders that it’s better than Deutsche Boerse’s offer, experts said. Get the full story »

CME Group debuts global ad campaign

From BtoB Magazine | CME Group debuted a global print, TV and online ad campaign called “How the World Advances,” designed to show how its financial services help businesses expand and world economies grow. Get the full story>>

Dow tumbles nearly 300 points in opening minutes

U.S. stocks plunged at Tuesday’s open, with the Dow industrials sinking nearly 300 points within the first minutes of trading. The sharp sell-off follows an 11 percent drop in Japan’s leading index in the wake of a nuclear crisis caused by last week’s earthquake.

The Dow Jones industrial tumbled 216 points or 1.8 percent in the first two minutes of trading. The S&P 500 fell 25 points or 1.9 percent, and the Nasdaq dropped 70 points or 2.6 percent. Get the full story »

Nikkei hammered by hedge funds, drops 10.6%

Japan’s Nikkei share average plunged 10.6 percent on Tuesday, posting the worst two-day rout since 1987, as hedge funds bailed out after reports of rising radiation near Tokyo. Many mutual funds were left on the sidelines, leaving them poised to dump shares into any rebound. Get the full story »

Nasdaq bid for NYSE could come this week

Nasdaq OMX Group Inc is preparing an offer for NYSE Euronext and the bid could come as early as this week, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Eris to take interest-rate swap system live May 18

The startup derivatives market Eris Exchange on May 18 will go live with a new trading system intended to broaden access to its interest-rate swap futures.

The same technology used to power the currency-trading platform Currenex will underlie Eris’ nascent markets, which are designed to offer swift, efficient trading in products that typically are traded privately between investors and banks. Get the full story »

Stocks plunge in Japan in first post-quake trading

Japanese stocks suffered their biggest slide since the 2008 financial crisis Monday, with investors eyeing a further drop as the uncertainty over the country’s nuclear crisis compounds worries that the quake and tsunami will cause deeper economic pain than initially thought.

The TOPIX tumbled 7.5 percent on record trading volume. With Monday’s selloff, the market capitalization of shares on the Tokyo stock exchange’s first section fell by roughly $286 billion — greater than the size of Finland’s economy. Get the full story »