Futures Magazine February 01, 2007
Breaking News
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C. Harry Falk, president and CEO of Nybot dies
The staff of Futures magazine extends condolences to the family and friends of C. Harry Falk, who died on Jan. 3 at the age of 66. Falk became president and CEO of Nybot on July 11, 2003, after
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Does CME/CBOT deal dissolve CBOE exercise right privileges?
For CBOE and its leader William J. Brodsky the issue is simple. Once there are no longer shares of CBOT, the former shareholders won’t own CBOE exercise right privileges (ERP). The ERP can be
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Refco FX clients left with little in account
Forex Capital Markets (FXCM) and 300 former Refco FX Associates LLC customers have lost a constructive trust case they brought against the company in an effort to reclaim $10.6 million dollars tied
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Fimat-Calyon to merge
The newly formed entity would be the third largest FCM in the United States with $11.4 billion in U.S. customer segregated funds based on CFTC data. The proposed new group would be controlled equally
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Indian exchanges in play in 2007?
With Europe’s exchange takeover wars entering the endgame, attention is shifting to India, home to two of the world’s most fascinating exchange projects: the truly innovative Multi Commodity Exchange
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SEC expands portfolio margining
After years of fighting for it, and six years after a form of it was mandated by the Commodity Futures Modernization Act, equity traders will be eligible for portfolio margining. In late December, at
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CCorp. sells minority stake
The Clearing Corporation (CCorp.) has sold a minority ownership stake to GFI Group Inc. and ICAP plc, and with their help developed joint clearing services for OTC derivatives products, including
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Exchanges come to Vietnam
of the commodities market and establishment of Vietnam commodities exchanges in the near future, and require an enterprise seeking to establish a commodities exchange to have legal capital of VND150
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Manhattan melodrama
When the Intercontinental Exchange (ICE) got the blessing from New York Board of Trade members to purchase the softs exchange, those markets, often the least liquid of U. S. markets, suddenly heated
Trading Techniques
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Beyond Elliott Wave
An accountant and railroad executive who was forced into early retirement, Elliott studied the historical movement of the Dow Jones Industrial Average to pass the time. What he discovered was that
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Exits are where the money is
The exit strategy for your trading method — not the entry signal — determines whether you make money. Finding the right exit strategy is where traders should spend most of their design effort, rather
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Todays top 10 trading systems
Since the last report on the top 10 trading systems in the February 2006 issue, systematic traders have suffered through one of the most difficult periods in many years. These non-system-friendly
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Swept up in the tide
When the fundamentals, or economics, line up with the technicals or chart patterns, in a particular market the situation possesses synergy that can give the trader more confidence than when trading
Technology & Trading
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Are you ready to trade mechanically?
Although there is a huge public awareness of mechanical trading that barely existed 30 years ago, there are still widespread misconceptions about the methodology. One of the biggest disconnects lies
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What system traders are afraid to ask
When you set out to build a trading system, there are some fundamental questions that you must ask before you get to the step of entry rule development. If these fundamental questions aren’t answered
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Trade Navigator Platinum V. 3.01
Genesis Trade Navigator is a feature rich product that is suitable for both beginning and experienced traders. It is a relatively slick combination of “offline” charting and real-time data. Most
Forex Trader
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Measuring currency strength
The TWI represents how well a currency is doing against a basket of other currencies. The currencies included in the TWI reflect the major trading relationships with the index currency. Each currency
Futures 101
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The great leap forward
If you have managed to avoid the electronic trading revolution because your markets of choice are in the old line commodities, it’s time to put down the phone and pick up a mouse. Grains, energies,
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Getting up to speed
Several exchanges and technology vendors offer educational opportunities for traders to learn and hone electronic trading skills. The CME offers free access to the Globex Learning Center to industry
Industry Trends
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Tops & bottoms of 2006
Insiders have been talking about the likelihood of mergers and acquisitions in the exchange space since the industry moved towards a for-profit model. After months and even years of speculation and
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Fights of the year
When the International Securities Exchange launched in 2000, it gained option market share at a rapid pace. But CBOE counterpunched effectively with its hybrid market model and maintained market
Markets
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Crude oil: It is all in the numbers
Not only is that price a milestone because it is the all-time (front month) intra-day high hit July 14, 2006, but it’s one that is likely to be short-lived as U.S. supply/demand balances tightened in
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Tech Talk: How low will WTI go?
Another unseasonably warm winter coupled with weakening technicals is pushing Nymex Spot WTI crude oil back to the lower end of the trading channel that has been in place since October 2006 (see “Oil
Editor's Note
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Fueling the fires
Some people have said it should continue down, as there seems to be ample supply, especially in the United States. And with the so-far mild winter in the Midwest and Northeast, it seems some of the
Book Reviews
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Futures & Options for Dummies
Like other books in the Dummies series, this one is very easy to read and the illustrations are entertaining. Dr. Duarte has written other books about the financial markets and he is obviously at
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Understanding Asset Allocation
How does a portfolio manager achieve superior returns while methodically reducing risk? Consider the theoretical precepts and empirical findings of Victor Canto. Canto is a discerning student of
Market Analysis
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OJ: Here’s how it happened
But since early December, O.J. has dropped almost 13¢ and still looks overbought to some traders. Boyd Cruel, senior softs analyst at Alaron, points out that FCOJ has dropped almost a thousand points
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Red metal meltdown
Because of its importance to housing, automotive and other manufacturing, copper prices have been a bellwether for the global economy, and now declining prices are reflecting a chill. “We had a huge
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Is equity run over?
The E-mini S&P still has another high in it, says Dominick Mazza, founder of Tradingthecharts.com. He says that based on Elliott Wave principles, the market is in a “fourth wave flat” and buying time
Managed Money
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SEC at it again
The Securities and Exchange Commission (SEC) at the end of the year proposed two new rules for hedge funds and pooled investment vehicles, one of which could dramatically affect the number of people
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Commodities create the right mix for diversification in portfolios
Investors would prefer not to sacrifice returns to lessen risk through asset diversification and so they look for uncorrelated assets with a positive return. That is why many have come to invest in
New For Traders
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New for traders
Euronext.liffe has launched the EuroMTS Government Bond Index contracts, which will allow investors to gain broad exposure for the first time to Euro zone government debt and to the individual
People
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Ledvora now RedSky’s CFO
Three new members have been elected to the supervisory boards of Eurex Zürich AG, Eurex Frankfurt AG and Eurex Clearing AG: Christian Gell, managing director of Credit Suisse, Andreas Häberli, head
Trader Profiles
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Mark Coe: carrying profits
Mark Coe started out his trading career as a successful discretionary trader for proprietary trading firm Blackwood Securities in 1999. As his trading evolved he focused on foreign exchange and
