Niamh Alexander News
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BlackRock Inc.’s internal electronic bond-trading system failed because it couldn’t attract a critical mass of customers, even as small dealers stood ready to aid trading.
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CME Group Inc.’s overtures toward Deutsche Boerse AG are likely to raise the same concern among customers about higher fees that helped scuttle last year’s deal with NYSE Euronext.
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The $639 trillion over-the-counter derivatives market begins the largest transformation in its 30- year history today with rules intended to contain another financial crisis, trimming profits for Wall Street banks.
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CBOE Holdings Inc. and S&P Dow Jones Indices extended the options exchange’s exclusive license to trade contracts based on the Standard & Poor’s 500 Index until 2032.
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Jeffrey Sprecher, who built the second-largest U.S. futures market, will likely focus on reducing costs after acquiring NYSE Euronext even if that means separating the 220-year-old New York Stock Exchange.
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The London Metal Exchange, founded 134 years ago above a hat shop in the financial district, may be the latest major mutual exchange to be bought after record trading volumes attracted the interest of multiple bidders.
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Mergers between exchange companies around the world may increase risks for investors as fewer companies handle derivatives trading and clearing, said the head of Australia’s securities regulator.
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Revenue growth for swaps clearinghouse owners will take more time to materialize than previously thought, though longer-term it could match the increased sales of up to 27 times seen in energy clearing, according to Keefe Bruyette & Woods.
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CME Group Inc., the world’s largest futures market, said fourth-quarter profit fell, compared with a year-earlier period that included a $528 million Illinois state tax benefit.
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CME Group Inc., the world’s largest futures exchange, has approached Deutsche Boerse AG to consider beginning talks on a merger, according to four people familiar with the situation.
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