| As world economies get depressed from the ripple effect of US ...
The US Dollar is forming a long term base. The major US rate cut is behind us. It is time for the ECB to cut rates. The Bank of England will also cuts rates. The economic depression in US and financial meltdown is already built into US Dollar index. The next wave of rate cuts will start in Europe. The Chinese and the Indian currencies will appreciate against US Dollar. But they are not part of the US Dollar index. Other than Yen, all the currencies may fall against dollar in the several years. A very long term bottom is in place in US Dollar. The Dollar index currently trades around 75.50. It can rally 15% in the next nine months to reach 87.00. While trading US Dollar index the best strategy is to opt for futures and options arbitrage. For example buying US Dollar index futures, selling an in the money call on the same and buying a distant put on the future can be ideal.
Citi buys 14.5 pc of Globe Capital for Rs 168 cr
Citi Venture Capital International (CVCI), the private equity arm of Citigroup, has picked up around 14.5 per cent in the Delh-based Globe Capital for Rs 168 crore. At this price the company is being valued at over Rs 1,000 crore. While confirming the deal, Ashok Agrawal, chairman of Globe Capital, said Citi had invested $42 million for a minority stake in the company.. The company would use the proceeds for expanding into the retail segment and margin financing, he added. Globe Capital had reported a net profit of Rs 70 crore on a gross income of Rs 130 crore in the first nine months of 2007. Last fiscal, the company posted a net profit of Rs 50 crore. One of the leading clearing members in the futures and options (F&O) segment, the company plans to expand overseas and has already established operations in Dubai through a subsidiary and plans to acquire ICON Capital, a member of the London Stock Exchange.
NYMEX and Other Major Market Participants to Form the Green Exchange ...
NEW YORK, Dec. 12 /PRNewswire-FirstCall/ -- NYMEX Holdings, Inc. (NYSE: NMX), the parent company of the New York Mercantile Exchange, Inc. (NYMEX), the world's largest physical commodity futures and options exchange, today announced the formation of The Green Exchange(TM) venture, with Evolution Markets Inc., Morgan Stanley Capital Group Inc., Credit Suisse, JPMorgan, Merrill Lynch, Tudor Investment Corp., ICAP and Constellation Energy. The new exchange will offer a comprehensive range of environmental futures, options, and swap contracts for markets focused on solutions to climate change, renewable energy, and other environmental challenges. The Green Exchange products are expected to begin trading during the first quarter of 2008 and will be cleared by NYMEX. The Green Exchange venture is expected to launch as a U.S.
TradeKing CEO to Offer Perspective on the Growing Opportunity in ...
BOCA RATON, Fla., Nov. 19 /PRNewswire/ -- TradeKing (www.tradeking.com), a nationally licensed online broker dealer, today announced that its Chairman and CEO Donato Montanaro will be a featured speaker on "The Retail Business" panel during the 23rd Annual Futures and Options Expo taking place November 27-29 in Chicago. Montanaro and the panel participants will discuss the growth of options trading among individual investors and the various approaches brokerage firms are taking to offering options to the retail trader, comparing traditional business models with those of new entrants. He will be joined on his panel by brokerage executives from TD Ameritrade, Merrill Lynch, Optionshouse and OptionsXpress. For more information, visit: http://www.futuresindustry.org/expo-2007.asp.
SEBI considers circuit filters on stocks traded in F&O segment
MUMBAI: In a move to check wild stock swings, markets regulator Securities and Exchange Board of India (SEBI) is planning to overhaul the derivatives segment.
The proposals under consideration include circuit filters on stocks traded in the futures and options (F&O) segment, possible changes in the market-wide position limits and review of margining system, a person familiar with the development said.
It is believed that the swift and massive fall on January 22 shook SEBI into action. Trading was halted within minutes of opening, as indices hit the downward limits on very low volumes. SEBI has also received several suggestions from market intermediaries on how the loopholes in the current system can be plugged.
Apart from the margining system, the large number of stocks in the F&O segment was also said to have contributed to the indices going into a free fall.
NYMEX Announces Updated Fee Schedule for NYMEX and COMEX Futures and ...
NEW YORK, Dec. 14 /PRNewswire-FirstCall/ -- NYMEX Holdings, Inc. (NYSE: NMX) , the parent company of the New York Mercantile Exchange, Inc. (NYMEX), announced today that effective January 2, 2008, an updated fee schedule will be put into effect containing per contract price increases for NYMEX and COMEX futures and options products ranging from $0.05 to $0.20 per side. These increases, which were referenced in the Company's November 1, 2007 third quarter earnings announcement as forthcoming, level the rates across the NYMEX and COMEX Divisions. Even with these increases, NYMEX continues to offer the industry's most price competitive venues for energy and metals futures and options trading. NYMEX futures and options fees on CME Globex(R) electronic trading platform, NYMEX ClearPort(R) Clearing platform, and the NYMEX trading floor will increase $0.10 per side for members, and $0.05 per side for cross division trades.
Recovery to continue Mon; RBI, Fed meet eyed
MUMBAI: The recovery in Indian equities is seen continuing on Monday on positive cues from global markets. In the subsequent sessions, the market will track the outcome of RBI's credit policy review Tuesday, US Federal Reserve's 2-day meet starting Tuesday and expiry of January futures and options series Thursday. .
Adventurer Fossett declared dead
The 63-year-old went missing on September 3 after taking off in a single-engined plane from a Nevada airstrip. His wife had asked for him to be declared legally dead. The judge heard testimony from Mr Fossett's wife, Peggy, and a family friend, as well as from a search-and-rescue expert, before deciding there was sufficient evidence to declare him dead. Mr Fossett earned millions of dollars trading futures and options on Chicago exchanges. Attorneys representing his estate had filed a petition to have him declared legally dead so his assets could be distributed according to his will. Mr Fossett was a record-setting balloonist, sailor and pilot who completed non-stop flights around the world. Mrs Fossett's lawyer, Michael LoVallo, said: "It was very sad and at first she hoped and sort-of envisioned him walking down the road the next day with another story to tell.
2nd Annual Cayman Islands Conference: Hedge Fund Best Practices
Marran Ogilvie is a Partner, Chief Operating Officer and General Counsel of Ramius Capital Group, LLC. Ms. Ogilvie is also a member of the Senior Management Committee. Ms. Ogilvie joined Ramius in 1994, was appointed as its General Counsel in 1997 and as its Chief Operating Officer in 2007. She oversees the Firm's infrastructure areas which include legal, compliance, accounting, operations, technology and human resources. She is also involved in the strategic decision-making for Ramius products and its business. Ms. Ogilvie is NASD licensed as a Financial and Operations Principal, General Securities Principal, Municipal Securities Principal, Registered Options Principal, General Securities Representative, Commodity Futures Representative and Registered Equity Trader. In addition, she is a member of the American Bar Association and the New York State Bar Association.
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