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November 28, 2012
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  Top Stories 
  • Miami Options Exchange aims for Dec. 7 opening
    The Miami Options Exchange is awaiting formal regulatory approval but plans to open next month. A Securities and Exchange Commission review of MIAX rules for transactions has prompted previous postponements. Last month, other options-exchange operators cited concerns about the Miami exchange's application. The Wall Street Journal (11/27) LinkedInFacebookTwitterEmail this Story
  • Virtu may be the front-runner to acquire Knight
    Virtu Financial appears to have taken the lead in the race to acquire Knight Capital Group, sources said. Knight Capital is expected to receive takeover bids from Virtu and Getco, and Knight shares have surged since reports emerged that it is in takeover talks. The Wall Street Journal (11/27) LinkedInFacebookTwitterEmail this Story
Eurex Exchange’s new trading architecture: More choices, greater performance, Eurex reliability. Technology that delivers a world of opportunity. Discover more from Eurex Exchange.
  Regulatory Roundup 
  • Incoming SEC chief will face many challenges
    Elisse Walter, the designated successor to Mary Schapiro as head of the Securities and Exchange Commission, will immediately face a number of issues, such as the back-and-forth over regulation of money market mutual funds and Dodd-Frank rules not yet finalized. Also, unless President Barack Obama renominates her and the Senate approves, her term would end in one year. Reuters (11/27) LinkedInFacebookTwitterEmail this Story
  • Other News
  Industry Developments 
  • ISDA estimates margin required for uncleared OTC derivatives
    Initial margin requirements for non-centrally cleared over-the-counter derivatives under current regulatory proposals run from $1.7 trillion to as much as $10.2 trillion, according to an analysis by the International Swaps and Derivatives Association. ISDA says the increased initial margin required under conditions of stress will boost demand for funds at the worst juncture for market participants. 24/7 Wall St. (11/27), Jones Newswires (11/27) LinkedInFacebookTwitterEmail this Story
  • Mini-options are coming to ISE in March
    Mini-options contracts have gotten the regulatory nod to debut on the International Securities Exchange in March. They will come in chunks of 10 shares of an underlying security, compared with a standard contract of 100 shares, and will carry the same expiration dates as their standard counterparts. The Trade News (U.K.) (11/27) LinkedInFacebookTwitterEmail this Story
  • Eurex exec discusses segregated account services
    Byron Baldwin of Eurex discusses efforts to protect customer funds in this video. Baldwin says events including the collapse of MF Global have increased the need to ensure that client money is safe and to restore confidence in the system. (11/26) LinkedInFacebookTwitterEmail this Story
  • Other News
  Electronic Trading News 
  • Banks see drop in currency-trading profits
    Profits from foreign exchange trading are declining amid a proliferation of platforms and a shift to electronic trading. "The FX market has gone through a transition to being much more automated, and an obvious conclusion of automation is it becomes much more competitive," said Fabian Eliasson of Mizuho Corp. Bank. "It's the same thing that happened with stocks 20 years ago." The Wall Street Journal (11/27) LinkedInFacebookTwitterEmail this Story
  Commodities and Managed Futures 
  • U.S. corn may be ready for a comeback
    Drought drove up U.S. corn prices this year, prompting many buyers to look elsewhere. U.S. corn prices have since declined and foreign corn supplies are dwindling, prompting some market participants to expect another rally in U.S. corn. The Wall Street Journal (11/27) LinkedInFacebookTwitterEmail this Story
The foolish man seeks happiness in the distance; the wise grows it under his feet."
--James Oppenheim,
American poet, novelist and editor

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