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  • CHICAGO, April 13- CME Group Inc will shut its New York trading floor at year's end as computerized trading claims another victim from the world's old-school financial system. Options pits, where trades in commodities like gold, silver and oil take place face-to-face instead of electronically, will close a year after the CME shut most of its futures pits in New...

  • CHICAGO, April 13- CME Group Inc will shutter its New York trading floor at year's end due to low volume, closing options pits for metals and oil a year after most futures pits met their end. Yet, the average daily open-outcry volume for options products in New York has declined by 53 percent to just 7,500 contracts since CME announced in February 2015 that most...

  • SAN FRANCISCO, April 12- CME Group Inc said on Tuesday it has received notice from the Federal Reserve that it is authorized to open an account at the U.S. central bank, allowing it to better safeguard cash deposited by its traders. CME, which operates one of the world's biggest derivatives clearinghouses and several exchanges including the Chicago Mercantile...

  • SAN FRANCISCO, April 12- CME Group Inc said on Tuesday it has received notice from the Federal Reserve that it is authorized to open an account at the U.S. central bank, a privilege that in the past has largely been restricted to banks. Deposits in the account are limited to clearing member proprietary margins, CME said in an advisory. CME is working with the Chicago...

  • NEW YORK, April 12- A key rule governing the U.S. stock market that effectively forces stock orders to be sent to the exchange displaying the best quoted price is outdated and should be scrapped, said an executive of the world's largest sovereign wealth fund. Institutional investors, however, hold 80 percent of U.S. stocks and are far more active market...

  • NEW YORK, April 12- Approval of a new regulatory standard related to the U.S. stock exchange application of startup trading platform IEX Group would prompt exchanges to create thousands of new order types and greatly complicate the market, the head of Nasdaq Inc said on Tuesday. The U.S. Securities and Exchange Commission said in a policy statement on March 18 it...

  • SAO PAULO, April 11- Brazilian bourse BM&FBovespa SA is arranging loan financing to fund part of the 12.9 billion reais that rival Cetip SA Mercados Organizados could cost, a sign that the cash portion of the deal may increase. BM&FBovespa, Latin America's largest financial bourse, is also using $1.2 billion in proceeds from the sale of a stake in longtime partner...

  • SAO PAULO, April 11- Brazil's BM&FBovespa SA is arranging loan financing to fund its 12.9 billion reais takeover of rival Cetip SA Mercados Organizados as both companies agreed to form a giant financial exchange with a presence from Mexico to Chile. BM&FBovespa Chief Executive Officer Edemir Pinto, who will run the combined entity, declined to elaborate on the...

  • SAO PAULO, April 11- BM&FBovespa SA is currently arranging loan financing for the acquisition of rival Cetip SA Mercados Organizados, a deal that could cost Brazil's largest financial exchange up to 12.9 billion reais, mostly in cash. BM&FBovespa Chief Executive Officer Edemir Pinto said on Monday the deal will create "billions of reais" in cost savings in back...

  • SAO PAULO, April 8- BM&FBovespa SA, Latin America's largest financial bourse, took over rival Cetip SA Mercados Organizados in a transaction valued at almost 12 billion reais, creating a giant with growing presence in regional financial markets spanning from Mexico to Chile. Cetip is Latin America's largest depositary of financial securities with a vast...

  • SAO PAULO, April 8- BM&FBovespa SA, Latin America's largest financial bourse, will buy rival Cetip SA Mercados Organizados, creating a giant with a market value of over $11 billion and growing regional presence spanning from Mexico to Chile. Under terms of a revamped, unsolicited offer unveiled on Friday, BM&FBovespa agreed to pay Cetip shareholders 30.75 reais...

  • April 7- Employees of U.S. trading firms responsible for designing algorithmic trading strategies will be required to register with regulators as securities traders under a new rule approved on Thursday aimed at reducing risky and manipulative trading. People who design, develop, or significantly modify a firm's automated trading systems, which generate...

  • HONG KONG, April 7- Hundred of thousands of small- and medium-sized factories in China may use a spot commodity platform that Hong Kong Exchanges and Clearing is considering building, said the head of one of the biggest metals merchants in Hong Kong. HKEx said last month it would explore the possibility of creating a platform for spot commodity trading in China...

  • SAO PAULO, April 6- Cetip SA Mercados Organizados, Brazil's biggest securities clearinghouse, has agreed on most terms of a revamped, unsolicited offer by bourse BM&FBovespa SA, a source with direct knowledge of the matter said on Wednesday. A takeover will make BM&FBovespa the dominant exchange in Brazil, controlling depositary and clearing activities for...

  • SAO PAULO, April 6- Cetip SA Mercados Organizados, Brazil's biggest securities clearinghouse, has agreed on most terms of a revamped, unsolicited offer by bourse BM&FBovespa SA, a source with direct knowledge of the matter said on Wednesday. A takeover will make BM&FBovespa the dominant exchange in Brazil, controlling depositary and clearing activities for...

  • SAO PAULO, April 6- Brazil's Cetip SA Mercados Organizados has agreed on most terms of a revamped, unsolicited offer by rival bourse operator BM&FBovespa SA, a source with direct knowledge of the situation said on Wednesday. The boards of BM&FBovespa and Cetip are expected to approve the sweetened terms of the deal within the "next 48 hours," said the source, who...

  • SAO PAULO, April 5- Sao Paulo bourse operator BM&FBOVESPA has acquired a 4.1 percent stake in Bolsa Mexicana de Valores SAB with an investment of 640 million pesos, the Brazilian bourse said on Tuesday in a securities filing. BM&FBOVESPA said its investment in the 120- year-old Mexican stock market was worth about 136 million reais. BM&FBOVESPA said it will...

  • WASHINGTON, April 5- A federal court in New York fined two United Arab Emirates residents more than $2.6 million to settle charges of "spoofing" in the gold and silver futures markets and permanently banned them from trading, the Commodity Futures Trading Commission said on Tuesday. It said on Tuesday that CME Group, the Securities and Commodities Authority of...

  • MUMBAI, April 5- Bombay Stock Exchange Ltd aims to list next year, its CEO said, in a deal that will raise the profile of Asia's oldest bourse at a time of industry consolidation, as investors such as Deutsche Boerse AG get the opportunity to cash out. The exchange expects to file a prospectus for its initial public offering and get regulatory approval within six to...

  • April 4- Exchange operator BATS Global Markets Inc said its initial public offering was expected to be priced at between $17 and $19 per share, valuing the company at up to $2 billion. The offering of 11.2 million shares, to be listed on the BATS Exchange, could raise as much as $212.8 million. Selling shareholders include Bank of America Merrill Lynch, Citigroup,...