WASHINGTON (Reuters) - The chairman of the U.S. House Financial Services Committee is seeking changes to draft legislation for the $450 trillion privately-traded derivatives markets, with the intent of making it harder for banks to avoid trading the contracts on exchanges.
Thursday, 29 Oct 2009 | Source: The Associated Press
Exchange operator CME Group Inc. said Thursday its third-quarter profit increased 20 percent as cost-cutting and a smaller tax provision offset a 4 percent decline in revenue.
CME Group, the world's largest derivatives exchange, is in talks to take over the Chicago Board Options Exchange in a deal that would value the largest U.S. options market at up to $5 billion, according to Crain's Chicago Business.
The Dow topped 9,000 for the first time since January as investors shrugged off a rise in jobless claims and cheered earnings from Ford and 3M. A third straight rise in existing-home sales also buoyed the market.
The Dow topped 9,000 for the first time since January as investors shrugged off a rise in jobless claims and cheered earnings from Ford and 3M. A third straight rise in existing-home sales also buoyed the market.
Stocks rallied Thursday as investors shrugged off a rise in jobless claims and focused on encouraging earnings from Ford and 3M. A third straight rise in existing-home sales also buoyed the market.