nmx statement: 5:47PM NYMEX issues statement in response to DOJ opinion letter (NMX) 87.80 -18.78 : NMX believes that a market-driven regulatory structure can most efficiently and safely meet the needs of a broad array of derivatives market users, particularly during dynamic periods of growth and volatility. The vertically integrated clearing model has stood the test of time for more than a century, including more than 80 years of federal regulation and Congressional oversight. In passing into law the landmark Commodity Futures Modernization Act of 2000, Congress once again rejected an approach under which market structure would be dictated by government fiat. By avoiding a "one-size-fits-all" model, Congress has instead provided for substantial flexibility in how companies may organize their businesses and still comply with regulatory requirements. We continue to believe that Congress made the appropriate choice by focusing upon a free market solution that also involves both self-regulation as well as direct oversight by the Commodity Futures Trading Commission. Our experienced staff has ensured that NYMEX continued to serve its market users without incident through periods of major market volatility. Any mandate or fiat that clearing of a given product must occur on numerous clearing organizations would actually increase systemic risk and default risk and also would seriously undermine the ability of a pro-active clearing organization such as NYMEX to manage market risk.
Great time to swoop in and buy a seat linked to CME's price. No, I'm not a fucking Jim Cramer saying BUY BUY BUY..... -cbk
do they pass on the vertical integration as value to the customer? it sounds like they're saying the value is weighted towards default risk, rather than day to day cost competition what types of synergies exist for the members and owners as a result of vertical integration? does it ultimately drain liquidity from the products? just thinking out loud here. personally i'd like to see as much competition as possible
Nice bounce CME. If you bought at $500, imo take profits, unless you have a very long time frame. nitro
damn i wish i didn't sell that 520 feb call for 22 near the open (bought for 12 yesterday). sold the stock slightly above breakeven. i'm not chasing this up, though.. done that, been burned.
anyone see the volatility on these CME options? 33% ??? tiny compared to what I'd expect. atticus, care to explain? I'll repost this in options ... very curious.