Posts tagged CME

An Exchange Goes Public

BATS is going public today.  It’s doing it on its own exchange.  Congratulations to them.  It’s hard to go public.  If you don’t know what BATS is, it’s an alternative to the NYSE and NASDAQ.  The first time it tried …






A Discussion on Bitcoin/Blockchain

I loved this discussion of Bitcoin/Blockchain. a16z has invested millions into the Bitcoin/Blockchain space.   So have other VC firms.  VC Tim Draper has bought millions of dollars worth of Bitcoin.  Most people still think they are insane.  No doubt, …






Hillary and the HFT Tax

Hillary Clinton wasn’t talking about her email scandal the other day.  She flip flopped on a trade package and then waded into populist waters.  It’s popular to hate Wall Street.  After all, they destroyed our economy right?If you investigated it …






Does Any Exchange Run a Fair Market?

Michael Lewis book Flash Boys says the markets are rigged.  He is wrong. Rigged is the wrong word to use.  At the $CME annual meeting, CME said their markets weren’t rigged.  I agree with them.  But not being rigged doesn’t …






The CME B Issue

Yesterday was $CME’s annual meeting.  I didn’t attend, but listened to a bit of it while it was live streamed through their website.  CME has a lot of great things going for it, and it has a lot of issues …






Who’s Looking Out for the Little Guy?

Steve Zwick wrote a nice article in Futures Magazine.  Here is the link to the entire article.  I would suggest reading the whole thing.  It talks about the exchange and regulatory apparatus that governs futures markets today.  No one is …






Treasuries Wild? Wait Until the Fed Really Tapers

Yesterday a reader sent me an email.  He is going to remain anonymous, but he asked me to write about what happened in the US Treasuries yesterday.  I put a request out on Twitter and Stocktwits but I think few …






Has CME Finally Broken the Curse?

If you have owned $CME stock since 2007-08, you have felt some pain.  Performance has been woeful.  Macroeconomic effects didn’t help-and government regulation didn’t help-and neither did Jon Corzine.  Few stocks have had as many headwinds. But, lately the stock …






Interesting and Thoughtful Response On Oversight and Regulation

Recently, Crain’s Chicago ran a series of stories on the futures industry.  I was quoted in one of the stories suggesting the Federal government has fallen down on the job when it comes to regulating what’s important in the industry. …






Who Controls Your Reputation?

When I was taking classes at the University of Chicago for my MBA there were a lot of interesting classes. Of course, the regimental numbers classes.  Every MBA goes through the core.  Economics, Accounting, Finance, Strategy, Statistics and Operations.  But, …






ICE And NYX Sitting in A Tree

The $ICE exchange is viewed by many old time $CME members as an upstart.  If one were categorizing exchanges and their business models, ICE would be the startup.  CME liked to think of itself as the start up since it’s …






MF Global and CME

Today I am doing a lunchtime presentation on CME ($CME) and MF Global at the University Club in Chicago. The staid club doesn’t allow tweeting or anything like that, so hopefully we can get some people to video it. My …






LIBOR Rate Manipulation

Bankers manipulated the LIBOR rate. These are the kinds of things that disgust people about Wall Street. Manipulation makes credible marketplaces look like a sham. For those that don’t know, the LIBOR market is the largest most liquid credit market …






CFTC Says CME No SRO

The abbreviations in my title might not mean a lot to you, but they are pretty earth shattering for the trading industry. The CFTC is the Commodity Futures Trading Commission. Since Obama’s election and appointment of Gary Gensler to the …






Doing Business With The Simpsons

The Illinois legislature proposed a tax package that is designed to keep the $CME and $CBOE from leaving the state. Is it enough? Indiana governor Mitch Daniels has said that being next to Illinois is like living next door to …






Legal Liability of CME Regarding MF Global

$CME has made precious few statements regarding MF Global. Quite frankly, it’s a huge mess and I am sure they are still sorting it out. This leads many to jump to conclusions about CME’s culpability. In a short blurb today, …






Government Turns Both Barrels on Honest Business

If you were not outraged by the malpractice at the CFTC over the past few years before, you ought to be now. It’s so bad that socialist Senator Bernie Sanders from Vermont is trying to carry their water for them. …






Ways Dodd-Frank Will Increase Food Prices

Bet you thought Dodd-Frank was just designed to go after those greedy banks on Wall Street didn’t you? Well, there are always unintended consequences of regulation. Dodd-Frank is one of the worst bills ever passed by a Congress in the …