Diversified Financial Services Specialized Finance

  • *HKEx plans metals trading platform for Qianhai in southern China. HONG KONG, June 14- Hong Kong Exchanges and Clearing is pushing ahead with plans to start a metals trading platform in southern China, looking to build its commodity business in the world's No.2 economy. HKEx bought the London Metal Exchange for $2.2 billion at the peak of the commodities boom back...

  • HONG KONG, June 14- Some four years after shelling out a top-of-the-market $2.2 billion for the London Metal Exchange, it appears owners Hong Kong Exchanges and Clearing are still battling to make the venerable old Western institution work with China, the new and dominant center for metal demand. HKEx Chief Executive Charles Li used the LME Week Asia seminar...

  • HONG KONG, June 14- Hong Kong Exchanges and Clearing Ltd is aiming to launch its planned physically-delivered gold futures contract in September, its head said on Tuesday. Asia, the top bullion-buying region, has seen several gold contracts launched in the last few years as it clamors to gain pricing power over the metal. "We will be launching this physically...

  • *HKEx plans metals trading platform for Qianhai in southern China. HONG KONG, June 14- Hong Kong Exchanges and Clearing on Tuesday confirmed it was pushing ahead with plans to start a metals trading platform in southern China, looking to build its commodity business in the world's No.2 economy. HKEx bought the London Metal Exchange for $2.2 billion at the peak of...

  • CHICAGO, June 13- CME Group on Monday banned a former Delta Air Lines fuel trading executive for using his wife's accounts to "front-run" the airline's hedging positions- trades that netted him a profit of more than $3 million. In addition to the lifetime bans, the CME ordered Jon Ruggles to give up profits of $2.8 million, which covered a period from August to...

  • CHICAGO, June 13- Global exchange operators are scrutinizing trading activity ahead of Britain's vote on whether to leave the EU amid expectations the referendum may spark sharp moves in currencies and other markets. CME Group Inc, one of the world's biggest financial exchange operators, "will be continuously and actively monitoring for market impacts"...

  • CHICAGO, June 13- CME Group on Monday banned a former Delta Air Lines fuel executive for using accounts owned by his wife to front-run trades subsequently entered in an account controlled by the carrier and for breaking other exchange rules. In addition to the lifetime bans, the exchange operator ordered Jon Ruggles to disgorge profits of $2.8 million and pay a...

  • NEW YORK, June 10- IEX Group, the alternative trading system seeking to become a U.S. stock exchange, on Friday asked regulatory authorities for guidance on a rule regarding proprietary trading, a request IEX said will not delay a deadline next week for its exchange application. Sophia Lee, general counsel at IEX, requested guidance from staff at the Securities and...

  • LIMA, June 10- Incoming Peruvian President Pedro Pablo Kuczynski has scratched his proposal to widen the fiscal deficit to 3 percent of gross domestic product after credit rating agencies expressed concern, his pick for finance minister Alfredo Thorne said on Friday. Thorne, who like Kuczynski is a former investment banker and World Bank economist, said the...

  • June 10- Nasdaq Inc said it named Michael Ptasznik as chief financial officer after he resigned from a similar role at TMX Group Inc, the operator of the Toronto Stock Exchange. The appointment of Ptasznik is seen as a coup for Nasdaq, which is looking to expand its footprint in Canada. Nasdaq announced in March that it plans to seek regulatory approval to turn its...

  • June 10- TMX Group Ltd, which owns and operates the Toronto Stock Exchange, said Chief Financial Officer Michael Ptasznik has resigned to pursue another opportunity. Ptasznik joined TMX Group 20 years ago and became CFO in 2000 and oversaw events including the company's initial public offering. Frank DiLiso, vice president of corporate finance and...

  • June 9- The New Jersey Supreme Court ruled on Thursday that retired public employees do not have a contractual right to receive increasing cost-of-living adjustments, a decision that saves the state $17.5 billion. The state Supreme Court vindicated that move last year. Credit rating agencies rank New Jersey the second-worst U.S. state partly because of its...

  • June 9- The New Jersey Supreme Court ruled on Thursday that retired public employees do not have a contractual right to receive increasing cost-of-living adjustments, a decision that is expected to save the state billions of dollars. The state Supreme Court vindicated that move last year. Even so, Wall Street credit rating agencies rank New Jersey the...

  • CHICAGO, June 9- Bets on U.S. lean hog futures hit a nearly two-year peak, CME Group data showed on Thursday, as investors gambled record-high pork prices in top consumer China will force the country to boost imports and as surging animal feed prices raise costs for U.S. hog producers. China was the top buyer of U.S. pork last week, purchasing 7,100 tonnes, weekly U.S....

  • June 9- The New Jersey Supreme Court ruled on Thursday that retired public employees do not have a contractual right to receive increasing cost-of-living adjustments, a decision that is expected to save the state billions of dollars. Wall Street credit rating agencies rank New Jersey the second-worst U.S. state, behind only Illinois, in part because of its...

  • *HKEx plans to start metals trading platform in southern China. MELBOURNE, June 9- Hong Kong Exchanges and Clearing plans to develop an industrial user base to back its metals trading hub slated for southern China, pushing to build its commodity business in the world's No.2 economy. HKEx bought the LME for $2.2 billion at the peak of the commodities boom back in...

  • If the retirees prevail, New Jersey's already underfunded pension system could be hit with another $17.5 billion of liabilities, according to The Record, a Bergen County newspaper, which cited a court filing. New Jersey's roughly $83 billion pension system is as poorly funded as it has ever been. Wall Street credit rating agencies rank New Jersey the...

  • LONDON, June 7- If you want to understand why some members of the London Metal Exchange are so unhappy with the way things are going that they are considering forming their own metals-trading platform, look no further than the latest exchange notice to members. Dated Monday, the LME said it has received an application for exchange membership from Jump Trading...

  • *Around 350 spot commodity trading platforms in China. SHANGHAI/ BEIJING, June 7- Chasing the promise of outsized returns, 48- year-old businessman He Xiaolun started trading oil last August on a platform developed by the Shaanxi Non-ferrous Metal Exchange. Over the next five months, he lost nearly 3 million yuan.

  • SAO PAULO, June 6- Brazil's antitrust watchdog Cade wants the nation's five biggest commercial banks to detail better their plan to set up a credit research company to gather information on borrowers' bill-paying history, on concern the deal could hamper competition. In January, state-controlled Banco do Brasil SA and Caixa Econômica Federal teamed up with...