ICE Offers $10 Billion to Thwart CME, CBOT Deal

The Chicago Board of Trade (CBOT), which agreed last October to merge with the Chicago Mercantile Exchange, has received a competing bid from all-electronic rival InterContinentalExchange (ICE). Directors from CBOT are understood to be meeting on Tuesday March 20 to evaluate the counterbid. ICE, an energy and commodities marketplace, said last Thursday March 15 that […]
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Micex Celebrates 15 Years

The Moscow Interbank Currency Exchange (Micex), which contributed to the creation of market mechanisms in determining the exchange rate of the Russian rouble, celebrated its 15 year anniversary last week at a special ceremony. Micex president Alexander Potemkin said the exchange has made an important contribution in attracting investments in the country’s economy. “As a […]
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CME Reports Increase in FX Volume in February

The Chicago Mercantile Exchange (CME) reported that foreign exchange volume in February 2007 averaged 508,000 contracts per day, 3% higher than in January 2007 and up 38% compared with February 2006. Electronic foreign exchange volume averaged 457,000 contracts per day, up 45% compared with the year-ago period, the exchange said last week. Overall on the […]
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Chicago Exchanges’ Shareholders to Vote on Merger

Shareholders of Chicago Mercantile Exchange Holdings and CBOT Holdings will vote on the exchanges’ proposed merger at separate meetings on April 4, according to a filing with the Securities and Exchange Commission. Executives from both exchanges have stated they expect the merger, announced in October last year (Squawkbox, October 23, 2007) to close midyear. The […]
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Rydex Launches First ETF to Track Movements of Yen on NYSE

The first yen-based exchange traded fund, the CurrencyShares Japanese Yen Trust, began trading on the New York Stock Exchange last Tuesday (February 13). One of eight currency-based ETFs sponsored by Rydex Investments, CurrencyShares Japanese Yen Trust tracks the daily price movement of the yen. The yen-based ETF joins the family of NYSE-listed CurrencyShares, providing investors […]
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FXMarketSpace Receives FSA Authorisation, Completes Customer Testing

FXMarketSpace (FXMS), the first centrally-cleared, global foreign exchange platform due to launch this quarter, has been authorised by the UK’s Financial Services Authority as an alternative trading system. Additionally, the company says it has completed its customer testing program which has taken place over the past eight weeks with over 25 customers comprising banks, prime […]
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…FX Volume Climbs at CME in January

Foreign exchange volume on the CME in January averaged 494,000 contracts per day, up 29% from January 2006 while electronic foreign exchange volume averaged 450,000 contracts per day, up 35% compared with the year ago period. Total monthly volume was 116 million contracts, with volume on the CME Globex electronic trading platform rising 19% to […]
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CME Reports Record Results for 2006…

Chicago Mercantile Exchange (CME) reported record total revenues and earnings for 2006 boosted by strong growth in trading volume across its entire product line. Total revenues climbed 22% to $1.1 billion for the year, compared with $890 million for 2005. Net income rose 33% to $407 million, versus $307 million a year ago. Average daily […]
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CME, CBOT Name Post-Merger Management Team

Executives of the Chicago Mercantile Exchange (CME) dominate the management lineup of a new super exchange following the completion of its merger with rival Chicago Board of Trade (CBOT). Just one member of CBOT was named in the merged company’s management team. Bryan Durkin, CBOT’s chief operating officer will join CME Group in the same […]
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Tokyo Financial Exchange to Upgrade FX Futures System

The Tokyo Financial Exchange (TFX) plans to upgrade its foreign exchange margin trading system following growing volumes in its currency futures contracts. A TFX spokesperson tells Squawkbox that the exchange will aim to upgrade its system internally, possibly in mid 2007. TFX launched seven currency futures contracts in July 2005 with average daily volumes now […]
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