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MATIF to launch new Rapeseed Option

Date 15/05/1999

Matif SA will open trading in options on its rapeseed future on May 28. The decision to launch the new contract reflects the success of the rapeseed futures, with trading up 40% in 1998 following three years of steady growth. In the first quarter of this year, it was double that in the same period of 1998. Market expansion is continuing with nearly 550 contracts traded on average each day and peaks of over 1,700 on some days.
Major Clearers join forces to create European Clearing House

Date 15/05/1999

Cedel International and Deutsche Börse Clearing have announced the merger of clearing, settlement and custody activities to create new Cedel International. New Cedel International is the first step towards the creation of a truly European Clearing House, matching the model of the United States' DTC. A Memorandum of Understanding has been agreed with SBF Group & SICOVAM to merge with new Cedel International. New Cedel International represents an alternative clearing solution for business from t
Chicago Mercantile Exchange responds io Niederhoffer litigation.

Date 15/05/1999

The Chicago Mercantile Exchange is issuing the attached letter from its general counsel to its membership Monday (May 17) morning based on a lawsuit filed this afternoon (May 14) by Victor Niederhoffer. The Exchange believes this lawsuit is completely without merit and is based on incorrect information and unsupportable allegations.
Botswana Stock Exchange Market Commentary

Date 15/05/1999

The market dropped 0.8% during the week. Market heavyweight Barclays slipped back 40t to 2160t losing some of the gains from the week before, Stanchart also lost ground shedding a pula to close at 2300t. Botswana Insurance hit an all-time high of 1000t with investors still taking in their excellent results. Also gaining was Sechaba which rose 10t in anticipation of the dividend paid to shareholders registered as at 14 May 1999, over half a million shares changed hands. Engen climbed 5t to 460t,
Toronto Stock Exchange Releases Information Circular

Date 14/05/1999

The Toronto Stock Exchange has released an Information Circular which provides details of special resolutions to be voted on at the Annual and Special Meetings of Members to be held on June 10, 1999. In addition to the usual items of business, members will vote on three special resolutions: 1. The demutualization of the Exchange, where seats would be exchanged for shares in a new corporation, TSE Inc.; 2. The realignment of the Canadian exchanges; and 3. Changes to the composition of the Exchan

Stock Exchange of Hong Kong Stock Borrowing and Lending Position Information Pages

Date 14/05/1999

Information on stock borrowing and lending positions will be available on the Teletext system from Monday, May 17 when compulsory stock borrowing to close out overdue positions in the Central Clearing and Settlement System is introduced.
NYMEX to Change Cinergy and Entergy Electricity Margin Rates

Date 14/05/1999

The New York Mercantile Exchange will raise the initial margins on its June, July and August 1999 Cinergy and Entergy electricity futures contracts as of the close of business on May 13. The rates will be raised to USD6,000 from USD4,500 for clearing members; to USD6,600 from USD4,950 for members; and to USD8,100 from USD6,075 for customers.
NYMEX Sets Crude Oil Daily Volume Record

Date 14/05/1999

A daily volume record was established on the New York Mercantile Exchange on May 12 for crude oil futures when 244,714 contracts were traded, surpassing the record of 239,517 contracts set on March 10, 1999.
Warburg Dillon Read to join Consortium investing in Tradepoint

Date 13/05/1999

On 6 May 1999 Tradepoint announced details of a long term refinancing package involving a consortium of companies led by Instinet Corporation. The details of the members of this consortium were set out in that announcement. Given the benefits to the business of Tradepoint, the Board of Tradepoint is pleased to announce that Warburg Dillon Read has now also joined the Consortium and will be participating in the refinancing arrangements.
NYMEX Open Interest Reaches 2.5 Million

Date 13/05/1999

Open interest on the New York Mercantile Exchange NYMEX Division passed the 2.5 million mark yesterday for the first time in Exchange history with open interest reaching 2,509,417 lots, surpassing the previous open interest record of 2,481,336 lots set on May 7, 1999. In addition, Exchange-wide open interest reached a record 3,493,654 lots.