The top U.S. securities regulator wants new rules to help protect exchanges and other trading venues from computer-generated volume spikes and hackers seeking to harm the country’s capital markets. Get the full story »
Inside these posts: Electronic trading
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CME sees $100M from electronic trader services
CME Group Inc. anticipates the business of providing fast connections to computer-powered traders could bring in $100 million in revenue within four to five years, a senior executive said Wednesday.
The world’s biggest futures-exchange operator plans to introduce co-location services for electronic traders in early 2012, and more than 100 customers have made early commitments to the program, according to CME Chief Financial Officer Jamie Parisi. Get the full story »
Natural gas futures trading halted on CME’s Nymex
Electronic trading in natural-gas futures and options on the New York Mercantile Exchange was halted for about a half hour Monday due to technical issues, CME Group Inc.
Electronic trading on the benchmark U.S. natural-gas contract was halted at 1:11 p.m. EST, said CME, which operates the Nymex. Trading on the exchange’s Globex electronic platform resumed at 1:45 p.m. EST following a 15-minute pre-open session, CME said. Get the full story »
CBOE sets modest goals for electronic exchange
CBOE Holdings is setting a low bar for success at its newly launched electronic exchange, with officials saying they expect to capture just 1 to 2 percent of the total U.S. options market in 2011.
“There’s an opportunity there,” CBOE Executive Vice-Chairman Edward Tilly told reporters over lunch. “It may take some time to develop.”
C2, as the new exchange is known, garnered 0.7 percent of the market in December, its second full month of operation, figures from the Options Clearing Corp show. There are nine U.S. options exchanges. Get the full story »
Oct. 27, 2010 at 9:59 a.m.
Filed under: Banking, Computers, Crime, Criminal charges, Investing, Privacy issues U.S. wants courtroom sealed for Goldman trial
U.S. prosecutors asked a federal judge to seal the courtroom for part of the upcoming criminal trial of a former Goldman Sachs Group Inc. computer programmer, an effort to protect the secrecy of the bank’s high-frequency trading platform.
Prosecutors said in a court filing that there is a “compelling interest in favor of privacy” for Goldman in the trial of the former employee, Sergey Aleynikov. Get the full story »
CBOE to launch 2nd exchange in late October
CBOE Holdings Inc., the biggest U.S. options market, will launch its planned second exchange targeted at high-frequency traders between Oct. 15 and Nov. 1, Vice Chairman Edward Tilly said on Tuesday. Get the full story »
CME inadvertently placed test orders Monday
U.S. derivatives exchange operator CME Group Inc. inadvertently placed dummy test orders into its active energy and metals markets on the CME Globex platform for about 6 minutes on Monday afternoon. Get the full story »
SEC’s Schapiro: ‘Flash Crash’ report by month’s end
The top U.S. securities regulator said on Tuesday that the follow-up report on what might have caused the May “flash crash” is expected by the end of September. Get the full story »
CME Group’s August average volume up 15%
Derivatives exchange operator CME Group Inc. said Thursday its August volume averaged 11.7 million contracts per day, a 15 percent increase from a year ago.
Total volume was 258 million contracts, with 82 percent traded electronically.
CME Group CEO sees no need for new acquisitions
CME Group. CEO Craig Donohue appeared to rule out growth by acquisition on Thursday, and said excess cash would be returned to shareholders as soon as next year. Get the full story »
CME Group’s profit jumps 22%
CME Group Inc.’s second-quarter earnings rose 22 percent, and adjusted results topped analysts’ forecasts, as the world’s biggest operator of derivatives exchanges again benefited from increased volume. Get the full story »
July 9, 2010 at 11:45 a.m.
Filed under: Economy, Exchanges, Investigations, Regulations, Stock activity SEC still unclear on cause of flash crash
U.S. regulators are still trying to ferret out what caused the Dow Jones industrial average to mysteriously drop nearly 700 points in minutes before sharply recovering, the chairman of the Securities and Exchange Commission said Friday. More than two months after the market briefly crashed in May, market regulators are still exploring a number of theories, including an imbalance between buyers and sellers.
“What we clearly understand are what the exacerbating factors were,” SEC chief Mary Schapiro told Reuters in an interview on the sidelines of a conference in Chicago on corporate governance, “like different trading conventions in different marketplaces, liquidity replenishment points, self-help, banded orders.” Get the full story »
CME Group volume up 8% in June
CME Group, the world’s leading and most diverse derivatives marketplace, today announced that June volume averaged 12.2 million contracts per day, up 8 percent from June 2009. Total volume was 268 million contracts for June, of which 84 percent was traded electronically. Get the full story »
