May 10, 2010 at 2:30 p.m.
Filed under:
Exchanges,
Markets
Associated Press | The leaders for major securities exchanges have agreed in principle to a
uniform system of “circuit breakers” that would slow trading during
periods of intense market volatility, federal regulators said Monday.
The heads of the biggest exchanges “agreed on a structural
framework, to be refined over the next day,” Securities and Exchange
Commission Chairman Mary Schapiro said.
The
agreement has been reached by leaders of six exchanges, including the New York Stock Exchange and NASDAQ. The absence of
a uniform system is being looked at as a possible trigger for last
week’s historic stock market plunge.
Get the full story: Exchanges agree on way to slow trading if needed.
May 6, 2010 at 6:56 p.m.
Filed under:
Exchanges,
Investing,
Markets,
Stock activity
Traders in the S&P 500 pit at the Chicago Board Options Exchange on May 6, 2010. (Terrence Antonio James/Chicago Tribune)
By Greg Burns | One of the wildest 20 minutes in Wall Street history spilled into Chicago’s major markets Thursday, prompting one exchange to declare a series of trades “clearly erroneous,” and another to suggest that a hot rumor was wrong.
The CBOE Stock Exchange invoked a government-sanctioned rule to unwind 18 trades made in the stock of Chicago’s Accenture Plc that all took place within a few minutes Thursday afternoon at the price of a penny per share.
Accenture closed down $1.08 at $41.09, and no news from the company would have justified those rock-bottom trades.
Get the full story »
May 5, 2010 at 3:55 p.m.
Filed under:
Exchanges,
Food,
Markets
Dow Jones Newswires | Traders, get ready for some big yellow
bricks — and not the ones at Fort Knox.
CME Group Inc. in June aims to launch futures and options on cheese,
targeting big multinational food companies grappling with cheese prices
that have been anything but solid in recent months.
Get the full story »
April 28, 2010 at 10:28 a.m.
Filed under:
Exchanges,
Markets
From Reuters | The Chicago Board Options Exchange, the largest options market in the U.S., will price its initial public offering on June 14, and list shares for trading on Nasdaq OMX the following day. In regulatory filings, the CBOE said it would set a per-share price floor of $25.
Get the full story: reuters.com.
March 30, 2010 at 4:53 p.m.
Filed under:
Economy,
Markets,
Politics
From Reuters | The Chicago Board Options Exchange said on Tuesday that Congress was “interfering with micro market mechanisms that had nothing to do with the crisis.”
“Because the stock market went down and people complained to Congress,” said Chicago Board Options Exchange Chief Executive William Brodsky, “short sales became one of the whipping boys.”
Get the full story: reuters.com.
March 22, 2010 at 10:59 p.m.
Filed under:
Government,
Markets
Associated Press | Democrats sent a massive Wall Street regulation bill to the full Senate
on a party line vote Monday after a temporary retreat by Republicans
that still left the bill’s chances for bipartisan passage in doubt.
In a surprise move, the Senate Banking Committee met briefly to approve
the bill 13-10, but not before Republicans jettisoned more than 300
amendments they had planned that could have put their imprint on the
measure. Senators had been expecting a long week of votes and debate,
only to find themselves voting as they were still easing into their
seats.
Get the full story »
March 11, 2010 at 1:25 p.m.
Filed under:
Exchanges,
Markets
By Greg Burns in Boca Raton, Fla. | Gary Gensler brought a tough-love message to the futures industry confab here Thursday, promising more extensive regulation of financial derivatives.
But he also tried to extend an olive branch to one part of the business that could benefit if credit-default swaps and other over-the-counter contracts get pushed onto regulated exchanges and clearinghouses, as the Commodity Futures Trading Commission chairman wants.
Get the full story »
Feb. 25, 2010 at 6:41 a.m.
Filed under:
Investing,
Markets
Dow Jones Newswire | U.S. traders warned that business could be
disrupted by new restrictions on short-selling stocks that lack an
exemption for market makers in options or cash equities.
Market participants said the absence of an exemption would limit their
ability to hedge risk when taking the other side of investors’ trades.
“We’re disappointed because of the potential impact on the options
markets,” said William Brodsky, chief executive of the Chicago Board
Options Exchange, the largest U.S. options venue by volume.
Get the full story »
Feb. 23, 2010 at 4:38 p.m.
Filed under:
Banking,
Housing,
Markets
Former Secretary of the Treasury Henry M. Paulson Jr. spoke at the University of Chicago on Tuesday. (Abel Uribe/ Chicago Tribune)
By Greg Burns | A fundamental restructuring of mortgage giants Fannie Mae and Freddie
Mac is “highly likely” as the U.S. government moves to sharply reduce
its involvement in the housing market, former Treasury Secretary Henry
M. Paulson Jr. said Tuesday at the University of Chicago.
But necessary changes can’t occur right away because the financial
system remains heavily dependent on the government-backed companies,
Paulson said at an appearance to promote his new book, “On The Brink.”
Get the full story »
Feb. 10, 2010 at 3:32 p.m.
Filed under:
Markets
By Greg Burns | CME
Group and Dow Jones & Co. on Wednesday announced a definitive
agreement that gives the Chicago-based futures mart a 90 percent
ownership interest in a new joint venture that will market the Dow
Jones Industrial Average and related indexes.
CME said it will contribute market-data services to the joint venture
that it values at $607.5 million. The new entity plans to raise $613
million in third-party debt, which will be used to pay a $607.5 million
distribution to Dow Jones.
The transaction, subject to approval by regulators, is expected to close during the first quarter of 2010.
Feb. 10, 2010 at 9:24 a.m.
Filed under:
Markets
By Greg Burns | Chicago’s CME Group is heading to the Credit Suisse Financial Services conference in New York Thursday amid signs that two of its major competitors have found their footing in spite of a global trading downturn.
Read more: Burns on Business
