Futures Magazine December 01, 2006
Breaking News
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CME CBOT=Huge
Depending of your perspective, the announced merger of the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT) was either a shock or a logical, if tardy, evolution. It certainly
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TT off the Mark(man)
A Markman ruling on Trading Technologies’ (TT) patents as they relate to the dispute between TT and several technology and brokerage firms (including eSpeed, CQG, GL Consultants and Rosenthal Collins
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ISE challenges exclusivity
Encouraged by its 2006 court victory allowing it to list options on the SPDR and Diamond exchange traded funds (ETFs), The International Securities Exchange (ISE) filed a complaint in the U.S.
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International news
Equity clearing firm Penson Worldwide Inc. will purchase the customer clearing organization of Goldenberg, Hehmeyer & Co. (GHCO) for $35 million. GHCO will retain its proprietary trading business and
Trading Techniques
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Day Trading: then and now
People used to view day trading as simply another way to gamble away investment dollars. Today, however, many of those same critics are becoming intrigued with this approach as another way to
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Mapping crude oil prices
This much is obvious: to profitably trade markets, it is necessary to predict the movement of prices. However, price action can be predicted only in terms of probability; nothing is certain. Many
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Trading exotic softs
Systematic traders often use the same trade entry rules across all commodities, with the idea that the same system should work in all markets. Indeed, some systems are sold for a basket of markets
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Exploiting spread trades
Traders shouldn’t limit themselves to one way of thinking about the markets. Yes, there is something to be said for focusing on an approach until you have mastered it, but that doesn’t mean you
Technology & Trading
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Best hardware and software for trading
Online trading requires an understanding of markets, expertise in fundamental and technical analysis and a dedication to research and education, but those things won’t save you if your equipment is
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A structured approach to trading systems
The first requirement refers to the trading platform used to evaluate your rules, produce reports, charts, etc. Although there are many options out there, you want a platform that can test how you’ll
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PC-SPAN
Margin requirements for options on equities are easily found with just a few clicks on a broker’s Web site. The margin needed for a trade is easy to calculate; you know what it’s going to be before
Forex Trader
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Forex opportunities in 2007
In forex, the key event of 2006 was the Federal Open Market Committee (FOMC) ending the series of interest rate increases that started on June 30, 2004. Throughout the year, the anticipation that
Futures 101
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Trade locally, think globally
The Chicago Board of Trade is considered the center for agricultural commodities trading, with benchmark contracts for soybeans, oats, rice, corn and wheat. And back in 2004, the exchange began
Industry Trends
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Asia: Upgraded and primed to trade
Since our last examination of the Asian futures exchanges in April, virtually every planned or projected upgrade has been implemented. Whether it’s new technology in Japan or relaxed restrictions on
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Top 50 brokers
The exchange-traded derivatives world may be a high-tech global community, but it often resembles a chatty little village — complete with that one guy and gal who everyone agrees would be just
Markets
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Hot markets for 2007
Long term commodity bulls may have another reason to cheer. But this time many analysts point specifically to grains to lead the way in 2007. Some are predicting that in the next two to three years,
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The ethanol impact
There is an amount of uncertainty as to just how much corn is actually going to be used for the 2006-07 marketing year and what affect it may have on corn futures price. Although the USDA estimates
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Has the S&P 500 hit it's top?
For decades, October has been a down month that causes investors to wince. The 1987 crash happened in October, as did several major market lows before and after. Going into this fall, a very reliable
Editor's Note
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Boy are times a-changin'
The announcement of the proposed merger between the Chicago Mercantile Exchange (CME) and Chicago Board of Trade (CBOT) was one of the best kept secrets in the industry. I learned while eating
Market Analysis
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Rough sledding for the dollar
The U.S. dollar has been trending lower since mid October. But in mid November, it seemed to solidify on a strong jobs report. Then, when the U.S. trade deficit narrowed to $64.3 billion from
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Full steam ahead for Nasdaq 100 e-mini
Daniels Trading senior broker Scott Hoffman is bullish, noting that Cisco Systems Inc. had a “knock-out third quarter,” and because Cisco sells network infrastructure technologies, it acts as a
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Soybeans chase corn
Grains have been discovered as an asset class, says Stephen Davis, senior broker at RJO Futures, adding that food is the new market play. “During harvest time, this is just incredible.” Davis says
Managed Money
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Minstrel of managed futures
Christian Baha, principal and founder of the Superfund Group of companies, is on a crusade to bring managed futures investment into the mainstream. And although progress on that has been slow, he
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Meltdown insurance
Before the Amaranth story is complete, there likely will be lawsuits aimed at the fund and investment managers of the fund from investors who feel that certain trading activities weren’t fully
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A billion here, a billion there...
Hedge funds are a little like referees and umpires, you don’t pay attention unless they do something wrong. Well, since the collapse of Long-Term Capital Management, no hedge fund has received as
News
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The Chicago Mega Exchange
Depending of your perspective, the announced merger of the Chicago Mercantile Exchange and Chicago Board of Trade was either a shock or a logical, if long tardy, evolution. It had certainly been
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IS DB-Euronext next?
“If Chicago can do it, why not us?” That’s a thought sure to be on the minds of Euronext shareholders voting in December on the proposed merger of Euronext and the New York Stock Exchange, if the
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IPO could win war
The Commodity Futures Trading Commission has declined to regulate ICE Futures (the former International Petroleum Exchange), which is regulated by the Financial Services Authority in London, and
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Penson buys GHCO
The trend towards multi-asset class brokerage continues as equity clearing firm Penson Worldwide Inc. will purchase the customer clearing organization of Goldenberg, Hehmeyer & Co. The $35 million
Trader Profiles
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Stoken: Closing in on 50 years trading
Stoken made a good living trading eggs and pork bellies when they became available in 1961. “In those days I was more of a long-term fundamental trader with a technical overlay,” Stoken says. He
