| CME bid spurs fears of merger monster
THE commodities boom is intensifying the merger mania among the world's financial exchanges. But the $US11 billion ($12.4 billion) bid by CME Group to acquire Nymex Holdings may fuel worries that consolidation is leaving the survivors with too much power. A purchase of the 135-year-old New York Mercantile Exchange's owner by CME, parent of the Chicago Mercantile Exchange, would create the largest exchange in the world, with a stock market value of about $US45 billion. And acquiring Nymex's crude oil futures, one of the largest commodity contracts in the world, would fill the last major hole in the 110-year-old Chicago exchange's product line-up, while squeezing remaining rivals in the energy market. The deal also highlights some unsettling consequences of the global scramble for alliances and market share in trading financial securities.
Using CCI and Stochastics For Long and Short Term Forex Trading
Sam Seiden brings over 15 years experience of equities and futures trading which began when he was on the floor of the Chicago Mercantile Exchange. He has traded equities, futures, interest rate markets, forex, options, and commodities for his personal interests for years and has educated hundreds of traders and investors through seminars and daily advisory services both domestically and internationally.
Sam has been involved in the markets since 1991 both on and off the floor of the Chicago Mercantile Exchange. He has served as the Director of Technical Research for two trading firms and regularly contributes articles to industry publications. Sam is known for his trading, technical research, and educational guidance. Software instructions HotComm is the multimedia communication tool we will be using to host our New Live Market and Education Sessions.
Murder trial witnesses fail to appear
The crimes were committed, according to the charge sheet, from late 2005 through 2006. The two men are linked to the Mahdi Army militia of radical Shi'ite cleric Moqtada al-Sadr, whose political movement at the time had been put in charge of the health ministry. .
Major grain merchandiser does away with HTAs
DTN Markets Blogger Pat Hill reports Thursday that the Andersons will no longer write hedge-to-arrive contracts for grain for delivery after August of 2008.
Hedge-to-arrive contracts are forward contracts that don't set the basis until a later date. When basis is wide, that's often a good deal for ag producers. But given the increasingly speculative nature of futures markets, it's become harder and harder for grain merchandisers to hedge that basis risk.
According to the DTN story, there aren't any other major grain firms that have sworn off on hedge-to-arrive contracts yet. But some have reportedly increased fees for those contracts.
Related Links:
DTN Market Matters Blog
See other items about...
(choose a keyword...) Grains/Oilseeds Risk Management Transportation .
Palestinian Aide Suggests Kosovo a Model
If this doesn't happen, we have another option," he said, noting Kosovo's declaration of independence from Serbia earlier this week. "Kosovo is not better than Palestine," he added. "If the whole world, the United States, the European Union, the majority of its states, have embraced the independence of Kosovo, why shouldn't this happen with Palestine as well?" Abed Rabbo said the Palestinian leadership is discussing the proposal. However, Abbas reacted coolly to the idea, saying in a statement that he remained committed to reaching a negotiated peace agreement this year. "If we are unable to do that ... we will return to our Arab (brothers) to take the appropriate decision," he said. The chief Palestinian negotiator, Ahmed Qureia, quickly quashed the idea of a unilateral decision and said such a proposal was never discussed by the Palestinian leadership.
|
