JLN Options: Speculators Buy Up Precious, Base Metals Futures, Options — CFTC

Feb 11, 2013

Lead Stories

Speculators Buy Up Precious, Base Metals Futures, Options — CFTC
Kitco News (via Forbes)
Speculators returned as buyers in all precious and base metals futures and options traded on the Comex division of the New York Mercantile Exchange and the Nymex, according to U.S. government data, spurred in part by a rise in prices.
http://jlne.ws/12mQ2al

Nasdaq’s man on a mission in Europe
Tim Cave, Financial News
As the only European on the nine-person executive committee of Nasdaq OMX, Danish-born Hans-Ole Jochumsen might well be personally familiar with the predicament currently facing the transatlantic exchange operator.
http://jlne.ws/XCFnHv

Wall St hedge fund manager tries to force Apple to share out its $137bn cash pile
Richard Blackden, The Telegraph
 One of Wall Street’s biggest hedge fund managers is suing Apple in an attempt to force the iPhone maker to give more of its $137.1bn (£88bn) cash pile to investors.
http://jlne.ws/12GsG3X

Hedge Fund Performance Expected To Climb In 2013
Justin Grant, Advanced Trading
An improved housing market and global markets awash in liquidity are expected to be the key drivers in better hedge fund performance.
http://jlne.ws/12Gtp5d

MCX-SX goes live with SX40 today 
MoneyControl
MCX-SX, India’s third full-fledged equity bourse after BSE and NSE, will go live on Monday, February 11 with its 40-stock Index named SX40.
http://jlne.ws/12mQVzK

Exchanges

The MIAX Options Exchange Joins OIC
Press Release (OIC)
The MIAX Options Exchange (MIAX) has become a member of The Options Industry Council (OIC).  MIAX joins OCC, its member firms and the other OIC exchanges in helping promote the responsible use of equity options through education.

New York Block Exchange Closing
Tom Steinert-Threlkeld, Traders Magazine
BIDS Trading and NYSE Euronext are closing the New York Block Exchange at the end of this month.
http://jlne.ws/12mMULv

IntercontinentalExchange Sets New Daily Record for ICE NYH RBOB Futures
Press Release (ICE)
IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, reported record daily volume in the ICE NYH RBOB Gasoline futures contract. ICE NYH RBOB Gasoline futures traded 29,559 contracts on Feb. 7. The new record is more than 10,000 above the previous daily record of 18,832 contracts on June 26, 2012.
Additionally, ICE Brent Crude futures and ICE WTI Crude options both set open interest records on Feb. 7 of 1,535,748 and 737,719 contracts respectively.
http://jlne.ws/11uOIYb

NYSE plans to sell its 5% stake in MCX
FirstPost
NYSE Euronext is planning to sell its 4.79 percent stake, in full or part, in India’s leading commodity bourse MCX, the global exchange major has said.
http://jlne.ws/12mQlSk

NYSE Euronext Announces Trading Volumes for January 2013
Press Release (NYSE Euronext)
NYSE Euronext (NYX) today announced trading volumes for its global derivatives and cash equities exchanges for January 2013[1].  Global derivatives average daily volume (“ADV”) of 9.5 million contracts in January 2013 increased 26.9% compared to January 2012, and increased 27.5% from December 2012 driven principally by stronger fixed income derivatives ADV which increased 64% year-over-year and 91% month-over-month. U.S. Equity options volumes rebounded in January 2013 with an increase of 9.9% compared to January 2012 and an increased of 17.9% from December 2012 levels. U.S. Equity options combined market share set a new record high of 29.4% in January 2013. Trading volumes in European and U.S. cash equities declined year-over-year, but improved from December 2012 levels.
http://jlne.ws/12mNHMw

Technology

Financial Firms Overhaul Data Management Strategies
Melanie Rodier, Wall Street & Technology
As capital markets organizations focus on ways to reduce risk, data management is receiving a top-to-bottom makeover.
http://jlne.ws/12GwguU

Strategy

Traders Start Playing Defense
Steven M. Sears, Barron’s
Investors are quietly building defensive options positions as the stock market hovers around all-time highs. The “greed-in” and “risk-on” trade still dominates, but a nascent change is occurring as key market risks, particularly the threat of sequestration, loom menacingly ahead.
http://jlne.ws/Y4PsLm

How To Profit From VIX ETNs And Futures Contracts
Nat Stewart, Seeking Alpha
In recent years, VIX ETF, ETN, and Futures contracts have paradoxically been one of the greatest trading opportunities for individual investors, as well as one of the great money losers of all time.
http://jlne.ws/12GsRfM

Events

Corporate Board Member and NYSE Euronext to Host Annual Risk Oversight Conference 
Press Release (NYSE Euronext)
Corporate Board Member, an NYSE Euronext Company, will host an intensive, one-day Risk Oversight in the Boardroom event on April 9 at the New York Stock Exchange. Developed specifically for executives and board members of publicly traded companies, the event will challenge attendees to think more strategically about the opportunities and risks in today’s complex, global environment.
http://jlne.ws/12Gu8mM

Sanjeev Joshipura

Sanjeev Joshipura of the Commodity Markets Council on Dodd-Frank in 2013
MarketsWiki.tv

Sanjeev Joshipura, president of Commodity Markets Council, talks about how Dodd-Frank rules will impact his membership base. Joshipura talks with JLN editor-in-chief Jim Kharouf about the future of the controversial position limit rule, which was vacated by a US District Court on September 28, 2012. A new position limit rule is expected from the Commodity Futures Trading Commission (CFTC), which will include a cost-benefit analysis. CMC is also focused on the CFTC’s reauthorization this year and the continuation of EMIR regulations. Joshipura also talks about US and EU regulatory harmonization and the challenges facing that goal.

Watch the video »

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