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  • NYMEX Natural Gas Futures Set Electronic Trading Volume Record

    Date 30/04/1999

    Henry Hub natural gas futures set a record on Wednesday night on the New York Mercantile Exchange ACCESS(SM) electronic trading system when 12,530 contracts were traded, surpassing the previous record of 11,095 contracts, traded during the December 3, 1998, session.

  • LIFFE To File Request for No-Action Relief from the U.S. Commodity Futures Trading Commission for placing its screens in the U.S.

    Date 30/04/1999

    Brian Williamson, LIFFE's Chairman announced at the Euromoney Conference on EMU in New York that LIFFE will file a request for No-Action Relief from the U.S. Commodity Futures Trading Commission (CFTC). Brian Williamson said : "Having consulted with many of the most prominent American financial institutions, there is a clear demand to trade LIFFE's dominant euro money market products efficiently and on equal terms with European institutions. The only impediment to providing direct access to LIF

  • New Financing Opportunities for Emerging-Growth Companies on the Swiss Exchange SWX

    Date 29/04/1999

    The Swiss Exchange SWX has laid the groundwork for enabling young, rapidly-growing companies to raise capital in the Swiss equities market. The SWX Admission Board approved on 23 April a draft of the corresponding rules and regulations. Only the approval of the Swiss Federal Banking Commission (EBK) needs still to be obtained. It is expected that the Supplementary Listing Regulations will already take effect by summer of this year. SWX and introducing banks have already established contact with

  • CME Lean Hog Futures Top 50,000 Open Interest

    Date 29/04/1999

    Open interest in lean hog futures traded on the Chicago Mercantile Exchange (CME) rose to record levels at the close of trading on April 28. The 51,844 open futures positions marked the first time open interest in lean hogs has surpassed the 50,000 mark.

  • CBOT, CME and BOTCC Announce May 28 Start Date For Cross-Margining And Common Banking

    Date 28/04/1999

    The Board of Trade Clearing Corporation (BOTCC), the Chicago Board of Trade (CBOT) and the Chicago Mercantile Exchange (CME) have set May 28 as the start date for the recently completed cross-margining and common banking agreements. The cross-margining agreement will provide for reductions of potentially millions of dollars in margin or performance bond requirements for clearing member firms trading correlated interest rate futures and options at both exchanges. The program will comprehensively

  • TASE to begin testing of new derivatives trading system

    Date 26/04/1999

    Preparations for computerized trading in derivatives, scheduled tobegin on October 17 1999, are well underway. Software programs for derivatives trading are now at the final stages of development, and TASE's Computers and Operations department will commence internal testing of the systems within the coming weeks. Installation of the new computer equipment has been completed and comprehensive system testing with all stock exchange members are planned for early June.

  • The NASD and the Philadelphia Stock Exchange Terminate Merger Discussions

    Date 23/04/1999

    The National Association of Securities Dealers, Inc. (NASD®), and the Philadelphia Stock Exchange (PHLX) have announced that they have ended discussions concerning a possible combination. Under the proposed combination, the options business of the Philadelphia Stock Exchange would have been incorporated into the American Stock Exchange® (Amex ®) options market while the PHLX equities business would have continued as a separate market and subsidiary of the Amex.

  • Deutsche Börse and NYMEX Cooperate in Development of German Exchange

    Date 22/04/1999

    Deutsche Börse and the New York Mercantile Exchange (NYMEX) have announced that they have signed a letter of intent to work together to set up a German energy exchange. In January, Deutsche Börse announced plans to provide the infrastructure for a German energy exchange by year end. NYMEX has been working with the German electricity industry since last year. Under the letter of intent, NYMEX, the world's largest energy exchange, will provide its expertise, primarily in the field of product dev

  • CME Expands Size of Lumber Contract

    Date 22/04/1999

    The Chicago Mercantile Exchange (CME) announced that it has increased the size of the random length lumber futures contract beginning with the January 2000 contract expiration. The contract is currently sized at 80,000 board feet and will increase to 110,000 board feet due to the size and capacity of railcars used to ship lumber. Raising the unit will more closely align the futures contract specifications with common practices in the cash market. The deliverable unit would range from 105,000 boa

  • CBOT Board Of Directors Takes Action

    Date 22/04/1999

    Taking swift and decisive action, the Board of Directors of the Chicago Board of Trade today enacted several motions and resolutions designed to renew confidence in the leadership and policy-making structure of the exchange. The items enacted by the Board, including respective resolutions of support for CBOT President Thomas R. Donovan and the exchange's senior management team (both attached), give additional oversight responsibilities to the exchange's Executive Committee and Board of Directors