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Tag Archives: COMEX

Russell Suite Competition Ambiguity Raises Some Questions Americas,Blog,Commentary,Exchanges, OTC & Clearing,Investing & Trading,Mwiki

Exclusive. Non-exclusive. Exclusive. CME. ICE. CME again. The story of the Russell Index futures complex licensing over the years is a study in ambiguity, changing strategies and partners. We know the  will win this round as they currently hold the long term license for the products. But what will happen in the short term is ambiguous as these two global exchange giants square off and try to maintain control or pry loose the open interest in the Russell futures products. After ICE took over an exclusive Russell indexes licensing agreement from CME in 2007, CME returned the favor by recently…

By One Measure, Traders Are the Most Bullish on Stocks Since at Least 1997; CME prepares to close New York options trading floor; Hedging Is an Afterthought for Traders With S&P 500 Near Record Newsletter,Options

Observations & Insight EDITOR’S NOTE: JLN Options is happy to have Henry Schwartz, President of Trade Alert, as a guest editor this week. Complex orders (continued) Henry Schwartz – Trade Alert Yesterday we noted the steady growth option volume coming from complex orders, which now accounts for about 1/3rd of daily flow. Today’s chart shows November volume stats from the largest complex order books, and includes a snapshot of which types of spreads were the most common in yesterday’s session. (Click the image below for a larger display.) As many would expect, simple vertical call and put spreads lead the…

Addendum to the CME Gold Futures Story Blog,Financials,Metals

Gold Bars

The lead story in yesterday’s John Lothian Newsletter was a Reuters report that said CME Group is planning to launch a gold futures contract in Hong Kong by year end. We were a little uncertain about how this would work, since the CME does not have an exchange located in Hong Kong, so we spoke with the CME about it. According to a CME spokesman, the news was announced by the CME’s managing director of metals products, Harriet Hunnable, during the China Gold Congress this week in Beijing. The contract will be a kilo gold futures contract.  It will be…

Kevin Powers, director of sales, North America at FastMarkets Interview,Metals

Kevin Powers

Kevin Powers recently joined FastMarkets as its director of sales, North America. FastMarkets provides reporting and analysis of the metals markets and broadcasts from the floor of the London Metal Exchange every day. Their web site is www.fastmarkets.com.  He recently spoke with JLN Metals editor Sarah Rudolph about the company’s offerings, his new role, and the road he took to end up there. Q:  Tell us about your background. You were with DTN, which was bought by Telvent, which was bought by Schneider Electric, the parent for FastMarkets? A: Yes, there were several takeovers. We had to keep changing shirts, pens…

Gold: Deliver Me This Commentary,Metals

John Lothian

There is a problem in the gold market. The problem was outlined yesterday in a Wall Street Journal story about how HSBC was getting rid of retail clients and their small holdings of gold. Given the interest in the precious yellow metal, HSBC figures it can make more money dealing with bigger clients. The problem is actually not new, but it makes a good story. As a futures broker, I have and have had clients who want to take delivery of gold. Before gold took off on this rally, not too many brokers really wanted to deal with this kind of…