Exchanges
Exchange-traded credit derivatives disappoint
The world’s first exchange-traded credit derivatives, which were listed by Frankfurt-based Eurex on March 27, have posted lacklustre trading volumes, with only one major dealer making markets in them.
US traders win tax break on Ice Futures
Ice Futures, the UK-regulated subsidiary of Atlanta-based IntercontinentalExchange (Ice), is to be allowed the same tax treatment afforded to contracts traded on US futures exchanges from April 1.
CBOE, CME and Eurex race to launch first exchange-traded credit derivatives
The Chicago Mercantile Exchange has announced its credit index event contracts will start trading on May 6, subject to regulatory approval, making them the first exchange-traded contract on a US credit derivative index.
Ice announces bid to merge with CBOT
The Atlanta-based Intercontinental Exchange (Ice) is bidding to merge with the Chicago Board of Trade (CBOT), in an all-share deal valuing the Chicago exchange at $9.9 billion.
Nybot financial futures to launch electronically in April
The New York Board of Trade’s (Nybot) financial futures contracts will be rolled out electronically during April, according to its parent company, the Atlanta-based Intercontinental Exchange (Ice).
CME launches weekly weather derivatives
The Chicago Mercantile Exchange (CME) will launch futures and options on a weekly weather index of 18 US cities from April 2.
TSX and ISE to set up new Canadian derivatives exchange
Toronto Stock Exchange operator TSX Group and the New York-based International Securities Exchange (ISE) will jointly launch a new Canadian derivatives exchange in 2009.
Tokyo hit hard by US sell-off
The Tokyo Stock Exchange suspended trading of its Topix Index futures for 15 minutes on Wednesday morning, to slow down the panic selling of stocks after the previous night’s sell-off in New York.
FIA opposes CME-CBOT merger
The Washington-based Futures Industry Association (FIA) has opposed the proposed merger of the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT) on the grounds that it would reduce competition among US exchanges.
DME announces launch date
The Dubai Mercantile Exchange (DME), the Middle East’s first energy futures exchange, will officially launch on May 1.
CME to launch first exchange-traded credit derivatives
The Chicago Mercantile Exchange (CME) is to begin trading credit index event contracts, the first exchange-traded credit derivatives contracts, by June this year.
CBOE files for demutualisation on way to IPO
The Chicago Board Options Exchange (CBOE) has filed for demutualisation and restructuring as it heads for an initial public offering (IPO). The exchange'smembers will receive stock but lose their trading rights as part of the process.
CME prepares to launch hurricane derivatives
The Chicago Mercantile Exchange (CME) will launch hurricane index futures and options on March 12.
Eurex to open hub in Dubai
Eurex, the world’s largest derivatives exchange, will open a trading hub in Dubai in April, subject to approval from the Dubai Financial Services Authority.
Eurex unveils Russian equity derivatives
The European exchange Eurex is preparing to launch index and single-stock derivatives based on Russian underlyings.
Beijing to host first carbon credits exchange in developing world
China and the United Nations (UN) are planning to launch the first carbon-trading exchange in the developing world in Beijing.
CBOE prepares to launch credit default options
The Chicago Board Options Exchange (CBOE) is preparing to trade credit default options that will pay out following a credit event.
TSE signs deal with NYSE
The Tokyo Stock Exchange (TSE) and the New York Stock Exchange (NYSE) have signed a letter of intent establishing a strategic agreement between the world’s two largest exchanges.
Deutsche Börse to co-operate with Korea Exchange on derivatives
Frankfurt-based Deutsche Börse Group, which owns 50% of Eurex, has signed a memorandum of understanding with the Korea Exchange.
CBOE prepares for demutualisation
The Chicago Board Options Exchange has moved to demutualise the option exchange this year.
Nasdaq extends bid for LSE
The New York Nasdaq exchange has extended the deadline for London Stock Exchange shareholders to accept its takeover offer, but has refused to raise its bid.
TSE close to deal with NYSE
The Tokyo Stock Exchange (TSE) and the New York Stock Exchange (NYSE) are hoping to finalise a tie-up by the end of this month.
LSE rebuffs latest approach from Nasdaq
The London Stock Exchange (LSE) and the New York Nasdaq exchange traded blows on Tuesday, as the management of the LSE turned down Nasdaq's takeover offer.
Nymex buys stake in Optionable to expand options trading
The New York Mercantile Exchange (Nymex) has announced it will buy a 19% stake in Optionable, a New York-based provider of natural gas and other energy options.