United States/Americas
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Fund to Redeem AIG Commodities Notes by Wednesday
By Reuters
09/16/2008 5:29:52 PM ET
NEW YORK (Reuters)—A small Canadian fund holding index-linked commodity notes issued by a unit of troubled insurer American International Group said Tuesday [Sept. 16] it expected to redeem by Wednesday [Sept.
Big Oil Price Swings Caused by Speculators: Report
By Reuters
09/10/2008 2:59:31 PM ET
WASHINGTON (Reuters)—Institutional investors caused the rapid rise and subsequent steep fall in oil prices in 2008, according to an independent report released by U.S.
Dollar Power From Freddie/Fannie Bad for Commodities
By Reuters
09/09/2008 11:32:54 AM ET
NEW YORK (Reuters)—Investors, ready to hammer commodities down after driving them to record highs just months ago, may find more inspiration for their pessimism after the bailout of U.S.
Analysis: Zinc Prices to Slide Further on Oversupply
By Reuters
09/02/2008 11:18:04 AM ET
LONDON (Reuters)—With sliding zinc prices taking their toll on miners, they can be forgiven for asking when the market will turn upwards—not any time soon, according to market experts.
The industry has seen mine closures and output cuts as energy, labor and equipment costs rise while zinc prices drop.
Gold to Scale New Peaks as Mining Costs Grow
By Reuters
08/27/2008 12:54:34 PM ET
LONDON (Reuters)—Gold prices are likely to scale new peaks as market fundamentals tighten because producers need at least a 20% rise in bullion prices just to make new investment viable, a leading fund manager said on Wednesday [Aug. 27].
Lumber Coming to CME Globex E-Platform: Traders
By Reuters
08/25/2008 2:08:22 PM ET
CHICAGO (Reuters)—Lumber futures, the only commodity not yet traded electronically at the Chicago Mercantile Exchange, will start electronic trading this fall in a bid to draw more investment and speculative money to the market, trade sources said.
The CME could announce as early as next week that lumber futures will trade on its Globex electronic platform in the fourth quarter, alongside the traditional pits where trading in the futures contract began in 1969.
Lehman Reinstates CME at Equal Weight
By Reuters
08/25/2008 10:39:39 AM ET
CHICAGO (Reuters)—Lehman Brothers reinstated coverage of CME Group Inc. with an "equal weight" rating and price target of $409 per share, and said it was positive on the world's largest derivatives exchange's longer-term earnings on strong expected derivatives-volumes growth.
CBOE IPO Seen a Step to Being Acquired
By Reuters
08/22/2008 11:56:35 AM ET
NEW YORK (Reuters)—Since its long-standing dispute with CME Group Inc.'s Chicago Board of Trade over trading rights is just about settled, the Chicago Board Options Exchange may soon become a takeover target.
Analysis: CME's Ax Hangs Over NYMEX Staff
By Reuters
08/22/2008 11:40:24 AM ET
NEW YORK (Reuters)—With CME Group Inc. set to wrap up its NYMEX Holdings Inc. takeover on Friday [Aug. 22], staff at the New York energy and metals market are bracing for an acceleration of job cuts NYMEX foreshadowed late last year.
Fund Says U.S. Laws to Curb Speculation Won't Work
By Reuters
08/21/2008 3:07:13 PM ET
LONDON (Reuters)—U.S. legislation aimed at reining in speculation is unlikely to work because commodity futures do not drive physical markets, which are constrained by capacity limits, a fund manager said on Thursday [Aug.
CBOT Members, CBOE Strike Deal on Ownership Rights
By Reuters
08/20/2008 3:08:33 PM ET
CHICAGO (Reuters)—The Chicago Board Options Exchange said on Wednesday [Aug. 20] it has reached a definitive deal with CME Group Inc.'s Chicago Board of Trade over who is entitled to participate in a lucrative legal settlement that was agreed to earlier this year.
Goldman Reiterates $149 Per Barrel End-2008 Oil Forecast
By Reuters
08/20/2008 12:42:50 PM ET
LONDON (Reuters)—Goldman Sachs reiterated on Wednesday [Aug. 20] its year-end price forecast of $149 a barrel for U.S. crude oil, and said strong fundamentals were a more important factor than a strengthening dollar.
CME Captures Latest Prize as NYMEX Deal Approved (Updated Story)
By Reuters
08/18/2008 6:03:05 PM ET
Editor's Note: This updated version of the story provides more detail and context, adds further comments and refines some numbers associated with the deal.
CHICAGO (Reuters)—CME Group Inc's.
U.S.-Based ETF Assets Rise $3 billion in July: State Street
By Reuters
08/18/2008 3:58:23 PM ET
NEW YORK (Reuters)—Assets in U.S.-based exchange-traded funds edged up $3 billion, or 0.5%, in July to $578 billion, according to a report on Monday [Aug.
Trend Reversals Take Big Toll on Mulvaney's July Performance
By Michael S. Fischer, Senior Financial Correspondent
08/15/2008 12:22:48 PM ET
LONDON (HedgeWorld.com)—Mulvaney Capital Management's Global Diversified Program started off the second half with its biggest loss of the year, 18.8%.
Managed Futures and Derivatives Exchanges Roundup
By Michael S. Fischer, Senior Financial Correspondent
08/14/2008 2:20:24 PM ET
New Stakeholders Enhance Dubai Merc's Stature
DUBAI, United Arab Emirates (HedgeWorld.com)—The Dubai Mercantile Exchange Ltd. got a boost in its effort to become a major player in the global crude oil market this week, when it announced that Goldman Sachs, Morgan Stanley and four energy-related companies had taken minority stakes in the exchange.
ETF Securities' Short Crude Oil, Physical Gold Surge
By Michael S. Fischer, Senior Financial Correspondent
08/12/2008 1:38:10 PM ET
LONDON (HedgeWorld.com)—ETF Securities Ltd.'s Short Crude Oil fund was the most heavily traded exchange-traded fund or commodity on the London Stock Exchange for the week ended Aug.
Commodity Indexes Tumbled in July
By Michael S. Fischer, Senior Financial Correspondent
08/11/2008 2:39:44 PM ET
NEW YORK (HedgeWorld.com)—In its monthly Commodity Index Monitor, JPMorgan Chase & Co. reported a heavy selloff in commodity indexes for July.
The JPMorgan Commodity Curve Index finished the month down 11.
Diversified Traders Hit a Bump in July
By Michael S. Fischer, Senior Financial Correspondent
08/08/2008 2:54:06 PM ET
FAIRFIELD, Iowa (HedgeWorld.com)—Commodity trading advisors got roughed up in July. With two-thirds of constituents reporting performance, the Barclay CTA Index finished down 2%.
Managed Futures and Derivatives Exchange Roundup
By Michael S. Fischer, Senior Financial Correspondent
08/07/2008 3:51:29 PM ET
Indian FX Hedgers Get Currency Futures Contract
NEW YORK (HedgeWorld.com)—The Reserve Bank of India announced this week that it will introduce currency futures in an effort to develop the country's derivatives market and expand the number of foreign exchange hedging tools available to residents.
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