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December 26, 2012
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Daily coverage for the global derivatives industry

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  • ICE chief brings fresh perspective on trading practices
    Jeffrey Sprecher, chairman and CEO of IntercontinentalExchange, shares his views on the industry, which he believes is due for a shake-up. Sprecher does not support paying incentives to attract big traders onto stock exchanges, also known as "maker-taker" pricing, and disagrees with dispersion of stock trading across many exchanges and private markets, two common industry practices. The Wall Street Journal (12/25) LinkedInFacebookTwitterEmail this Story
  • NYSE is sued by pension fund over $8.2B ICE deal
    The New Jersey Carpenters Pension Fund filed a lawsuit against NYSE Euronext saying its $8.2 billion deal with IntercontinentalExchange undervalues NYSE stock. The complaint filed in New York State Supreme Court asks the court to block the sale and seeks class action status on behalf of other NYSE Euronext shareholders. Reuters (12/24) LinkedInFacebookTwitterEmail this Story
  • Dealers hoard Treasurys as "fiscal cliff" looms
    Bond dealers have lowered the bonds offered to the Federal Reserve to an average of $8.04 billion per day over the past two weeks -- down from $11.6 billion in September 2011. Demand is growing for U.S. government debt safety as Congress struggles to put together a "fiscal cliff" plan. According to a Bloomberg survey of analysts, 10-year rates will grow to 1.88% by the end of June 2013 and 2.17% by the end of next year. Bloomberg (12/24) LinkedInFacebookTwitterEmail this Story
  • Bond experts fear Fed's new approach could increase volatility
    The Federal Reserve's announcement that it would tie interest rates to unemployment is drawing concern from some market experts who say investors may begin to overreact to sometimes volatile data points. "As the economic data come out now, the market is going [to] extrapolate those short-term fluctuations. It could create opportunities, but there is a possible impact as well," said Robert Tipp, Newark, N.J.-based managing director and chief investment strategist at Prudential Fixed Income. "If they come out with hard criteria, that will inject a lot of volatility into the market." Pensions & Investments (free registration) (12/24) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • SEC preps high-tech system that gives it real-time trading data
    The Securities and Exchange Commission is testing software for a system that will give it, for the first time, direct access to real-time data on what's going on in the U.S. securities markets. The technology, which will cost the regulator about $2.5 million for the first year, is scheduled to go into full operation early in 2013. The Washington Post (12/24) LinkedInFacebookTwitterEmail this Story
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