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Tag Archives: HKEx

John Lothian Newsletter: ICE reportedly bids $2 billion for LME; CBOT to add 45 minutes to open-outcry grain trading; Bailout for Spain’s banks buys time for Europe John Lothian Newsletter,Newsletter

The LME bids are out, with ICE taking the early lead at an even USD 2 million, a whisker more than HKEx’s figure.  CME Group, responding to controversy over the opening times for grains, adds another 45 minutes to the pit session’s time. Europe announces a bailout package for Spain’s straining banks, and the markets jump for joy; at least, until people went home and thought about it over the weekend.

John Lothian Newsletter: SEC Approves Plan To Expand Flash-Crash Safeguards; LME: Last 2 Bidders To Resubmit Sale Proposals June 7; Feds Eye MF’s False Promise John Lothian Newsletter,Newsletter

The SEC gives a thumbs-up on a plan to upgrade anti-flash-crash rules for next year. ICE and HKEx have been told by the London Metal Exchange to think over their purchase plans very carefully, and then resubmit them later this week. Federal investigators are paying more attention to statements made by MF Global employees that warnings of trouble and insufficient funds were ignored shortly before the company imploded.

John Lothian Newsletter: SEC Probes Operators’ Use of Multiple Markets; ‘Gray Market’ Crops Up for New Issue of Greek Bonds; Hong Kong to bolster its clearing house John Lothian Newsletter,Newsletter

The SEC is looking into the possibility that some exchanges favor their biggest customers at the expense of smaller traders. A couple of banks are already trying to make a market for Greece’s new bonds, even though they don’t exist yet. HKEx unveils plans to beef up their clearing house to meet post-2008 regulations and demand. The MF Global story continues, with continued protests over executive bonus plans; and recommendations from the NFA on how to better manage customer funds in the future. In Europe, now that Greece is no longer scalding hot, the financial transaction tax receives more attention.