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Technological advancements and the demand for low-cost, fast trade executions could drive growth for electronic trading companies.
CME Group posted fourth quarter earnings that beat expectations on Thursday and revenue that topped forecasts. Yahoo Finance’s Alexis Christoforous and Brian Sozzi speak to Terrence Duffy, CME Group CEO.
In an unprecedented legal confrontation, the three biggest U.S. stock-exchange groups are taking on their own regulator to block an initiative that seeks to limit the fees they can charge for trading. Nasdaq Inc. and Cboe Global Markets Inc. on Friday sued the Securities and Exchange Commission in a federal appeals court to stop the regulator from carrying out the program, a day after the New York Stock Exchange filed a similar challenge. At stake is the Transaction Fee Pilot, which the SEC unanimously approved in December.
The three largest U.S. stock exchange operators said they will sue the Securities and Exchange Commission for overstepping its authority by ordering a pilot program to test banning lucrative payments exchanges make to brokers for resting stock orders. "We disagree with the government overreach, and this really represents an unprecedented attempt by the SEC to distort the free market mechanisms that govern the competition among trading venues," Michael Blaugrund, head of transactions at NYSE, told reporters in New York on Friday. Intercontinental Exchange Inc's NYSE, Nasdaq Inc, and Cboe Global Markets, which together operate 13 of the 14 U.S. stock exchanges, each filed separate notices that they intend to sue the SEC.
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While Schwab's (SCHW) total client assets at the end of January 2019 decrease 1% from the year-ago month, it witnesses 6% sequential growth.
A proposal to blunt the advantages of ultrafast traders in one corner of the futures market is threatening to shake up the high-frequency trading world. Inc., known as ICE, quietly unveiled a plan earlier this month to impose a three-millisecond “speed bump”—or brief delay—on some trades in gold and silver futures. The proposal is on pause after the Commodity Futures Trading Commission said Wednesday it would prevent the ICE plan from taking effect until further review.
President Donald Trump’s declaration of national emergency on Friday failed to dampen investors’ mood, with an averted government shutdown and trade talk optimism keeping US stocks afloat in early afternoon trading. The S&P 500 was 0.9 per cent higher and headed for its fifth gain in six sessions. The Dow Jones Industrial Average was up 0.9 per cent, but had been as much as 1.4 per cent higher, while the Nasdaq Composite added 0.5 per cent.
CME Group's fourth-quarter profit trounced Wall Street estimates on Thursday, as a broad market sell-off towards the end of the quarter prompted investors to rebalance their portfolios and boosted trading volumes. Fears of a U.S. slowdown and the U.S.-China trade war spiked market volatility in the quarter ended Dec. 31, which helped exchange operators such as CME and Cboe Global Markets Inc earn more from clearing and settling transactions. CME's average daily volume (ADV) surged 31 percent to 20.8 million contracts in the quarter, lifting clearing and transaction fees, its biggest revenue stream, 36 percent to $1.03 billion.
Stock buybacks are coming under increasing fire in Washington, DC. CME Group Chairman and CEO Terry Duffy weighs in on the issue with Yahoo Finance.
CME Group (CME) Q4 reflects increased volatility and higher customer demand for diverse risk management products driving strong trading volumes.
The New York-based company said it had a loss of 6 cents per share. Earnings, adjusted for one-time gains and costs, were 14 cents per share. The brokerage company posted revenue of $466.4 million in the ...
The company, based in New York, said it had earnings of 11 cents per share. Earnings, adjusted for non-recurring costs, were 28 cents per share. The financial services company posted revenue of $259.9 ...
CME (CME) delivered earnings and revenue surprises of 1.14% and 6.56%, respectively, for the quarter ended December 2018. Do the numbers hold clues to what lies ahead for the stock?
The Chicago-based company said it had profit of $1.09 per share. Earnings, adjusted for costs related to mergers and acquisitions and pretax expenses, came to $1.77 per share. The results topped Wall Street ...
Exchange operator CME Group Inc on Thursday reported a 63 percent rise in adjusted fourth-quarter profit, aided by strong growth in revenue from clearing and settling transactions. The company's adjusted ...
Decline in net new brokerage assets and Daily Average Revenue Trades might adversely impact E*TRADE's (ETFC) financials, going forward.
Investing.com - CME Group (NASDAQ:CME) reported fourth quarter earnings that beat analysts' expectations on Thursday and revenue that topped forecasts.
A loophole in Nasdaq Inc.’s rules is under scrutiny after a roller-coaster ride in the stock of one small company highlighted how firms can go public without ample shares to trade. Phunware Inc., a software company planning to launch its own cryptocurrency, surged about 3,750% over six trading days to hit an intraday high of $550 a share on Jan. 10. Nasdaq’s rules require companies listed on the exchange to have at least one million publicly held shares.
is expected to report earnings of $1.73 a share on sales of $1.2 billion before the market opens Feb. 14, based on a FactSet survey of 15 analysts. The stock has risen 0.8% since the company last reported earnings on Oct. 25. Quarterly estimates have risen less than 1 cent a share in the past month.
The Atlanta-based exchange plans a 3-millisecond trading delay, or speed bump, for its gold and silver futures contracts, according to a regulatory filing. Michael Lewis’s 2014 book, “Flash Boys,” popularized the idea of using speed bumps to curb the light-speed pace of modern financial markets and prevent alleged abuses of so-called high-frequency traders. Lewis’s protagonists, the founders of IEX Group Inc., introduced a delay on their stock exchange in 2016, and a tiny equities market ICE owns, NYSE American, also has one.