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November 2006

01.11.2006 - Canada's markets thrown into turmoil
Canada's financial markets were thrown into turmoil by the Conservative government's surprise decision to clamp down on a burgeoning trend among companies to convert to lightly-taxed income trusts

01.11.2006 - SEC and CFTC look into mixed accounts
The two top US financial regulators have lent support for the first time to solving one of the most thorny issues in securities and futures trading: how to allow cross-margining.

02.11.2006 - OTC equity derivatives pose risk without greater automation, says report
Rapid growth in the global over-the-counter (OTC) equity derivatives market is being constrained by absence of adequate infrastructure and automation, according to a report released today by the Aite Group.

02.11.2006 - Corn prices hit 10-year high
Corn prices surged to a 10 year high after private forecasters said the 2006 US corn crop would be lower than government estimates, fuelling a raly in wheat and soyabean prices.

02.11.2006 - CME to Offer Electronic Options Trading on Livestock Futures
CME, the world's largest and most diverse financial exchange, today announced the launch of electronic trading of options on CME Live Cattle and Lean Hog futures beginning December 4. The new functionality will provide a direct trading opportunity for traders who specialize in trading price volatility and for hedgers who are interested in purchasing price protection.

02.11.2006 - Gold futures end higher to tally two-session gain of $21
Gold futures climbed to their highest level in two months Thursday to tally a two-session gain of $21 an ounce as weak U.S. economic data pushed the dollar lower against major currencies, spurring investment demand in gold.

02.11.2006 - Deutsche Börse launches exchange traded commodities on Xetra
Deutsche Börse today is to start trading exchange traded commodities (ETCs) on its electronic trading platform Xetra. On November 3, ETF Securities Ltd will list 31 ETC products, comprising 21 individual securities and 10 index securities, which will offer investors direct access to key commodity groups. Two of the new ETC products are oil trackers backed by the Shell Group of companies and the remaining 29 products track commodity indices published by Dow Jones Indexes, the latter range of products representing the first euro quoted listing of these ETCs in Europe.

03.11.2006 - Platinum futures rally, poised for 10% weekly rise
January platinum climbed $25.80, or 2.2%, to $1,190 an ounce in New York, ready to mark a gain of around 10% for the week. There has been speculation over the launch of a platinum exchange-traded fund, said James Moore, an analyst at TheBullionDesk.com.

03.11.2006 - Some hedge funds exposed to Canadian energy trust slump
Some hedge funds were likely exposed to big declines in Canadian energy income trusts this week after the government announced plans to impose new taxes on the entities.

07.11.2006 - Grains Defy Gravity
The grain markets have been exciting markets over the past month, no question about it. Even if you trade stock indexes, gold or currencies, I think corn and wheat futures are worth exploring, because of the extraordinary opportunities these markets have been presenting traders. I think there are more ahead, and I'll share some trading ideas.

09.11.2006 - Crude futures climb to a two-week high above $61
December crude touched a high of $61.05 a barrel Thursday morning, its strongest intraday level since Oct. 26. It was last up $1.12, or 1.9%, at $60.95.

09.11.2006 - ETF providers readying flock of new offerings, filings say
Exchange-traded fund providers have big plans in the works, judging by a throng of regulatory filings for new products in recent days and weeks.

09.11.2006 - Euronext been named Exchange of the Year
Euronext, the pan-European stock exchange, is delighted to have been named Exchange of the Year in Structured Products magazine's European Awards for 2006. Over the past two years, Euronext has made the fast-growing structured-product segment a priority for all of its markets. Its share of the total European market in certificates and warrants thus rose from 7.7% in June 2005 to 12.2% in the same month of this year, placing it among the leaders in the field.

09.11.2006 - Gold closes at 2-month high on firm oil, economic concerns
Gold futures rallied to a two-month high Thursday as energy prices firmed and concerns over the economy and expectations for a weaker U.S. dollar helped the precious metal break a three-session losing streak.

10.11.2006 - Three top-performing newsletters aren't bullish on U.S. stocks
There's good news and bad news for the U.S. stock market in a review of what the top-performing newsletters are recommending.

10.11.2006 - China forces dollar into limelight
China made its presence felt in the currency markets this week as the prospect of the country diversifying its massive foreign exchange stockpiles sent the dollar reeling to a ten-week low against the euro and to its weakest level in eighteen months against sterling.

13.11.2006 - New horizons for Dubai exchange
The Dubai International Financial Exchange is getting regulatory approval to let retail investors in the Middle East trade its products for the first time.

14.11.2006 - Base metals recover poise
Base metals were steadier after sharp falls in the previous session while oil prices firmed after Saudi Arabia reaffirmed its commitment to stick with output reductions recently agreed by Opec.

14.11.2006 - Deutsche Börse withdraws Euronext bid
Deutsche Börse has withdrawn its bid to merge with Euronext, leaving the Frankfurt exchange without a major partner.

14.11.2006 - New ‘warehouse’ for derivatives
Investment banks, fund managers and DTCC launch institution that can record, monitor and help process trades in the credit derivatives market.

15.11.2006 - Rydex CurrencyShares ETFs reach USD 1 billion in assets in less than one year
In less than a year, the collective asset value of the Rydex CurrencyShares(SM) ETFs -- seven innovative ETFs that provide exposure to the underlying currencies -- surpassed a milestone of one billion dollars. Rydex attributes the strong asset growth to the attractiveness of currency as an asset class and the convenience of the ETF structure as a delivery mechanism.

16.11.2006 - Energy hedge funds shifty from higher to lower risk
A mood of caution has subdued high-risk hedge funds after losses stemming from a more than 25 per cent fall in oil prices and as typically conservative pensions and banks look to make use of them. But rising levels of activity on the two biggest oil markets, the New York Mercantile Exchange (NYMEX) and the ICE futures platform, suggest hedge funds are not abandoning energy and there could be room for more to enter the market, analysts said.

17.11.2006 - Gold futures break losing streak, but end the week lower
December gold closed at $622.50 an ounce in New York, up 80 cents to mark its first gain in six sessions. But prices lost more than $15 in the past five session, so the contract suffered a loss of 1.2% for the week.

17.11.2006 - Hedge fund rumors: Citadel tell WSJ "It ain't us"
Citadel Investment Group LLC, the USD 12 billion Chicago hedge fund, says it continues to enjoy a successful year and isn't suffering from big energy bets gone bad — despite speculation coursing through financial markets today that the firm is dealing with heavy losses. "We are aware of the rumors. They are completely unfounded," says Bryan Locke, a spokesman for Citadel. Locke wouldn't give details about the firm's performance this year. However, an investor in Citadel said the firm remains up about 20% so far this year, despite sharp price declines in the energy markets in recent days.

17.11.2006 - Talk of hedge fund collapse arouses safe-haven interest in bonds
Treasury prices closed with strong gains Friday, pushing yields lower, after news that US housing starts plunged to a six-year low last month, with safe-haven interest stirred by market talk that a major hedge fund is in trouble. "Hedge fund 'troubles' appears to be the main impetus for the bid in the bond market, with wires and market sources citing losses in the energy markets being covered by carry trade unwinds," said Action Economics.

17.11.2006 - Oil hits one-year low
Oil prices continued to fall following an overnight rout that drove the benchmark US Nymex front-month contract below $56 a barrel for the first time in a year.

17.11.2006 - Dollar tumbles amid hedge fund talk
The dollar took a hit on Friday amid talk that a large hedge fund was forced to cut its trading positions betting on a rise in the US currency.

17.11.2006 - Oil's price collapse, more or less
Are we heading back to $40 a barrel, and is talk of $100 crude now silly? Oil inventories are practically overflowing. No one believes OPEC. People are going jacketless in New York and it's nearly December.It's no wonder crude prices tumbled five percent over the last two days, setting a new low for the year.

19.11.2006 - Hedge funds beat the little guys in Nymex IPO
The New York Mercantile Exchange's IPO is one of the hottest Wall Street has seen in six years, with investors already reaping big returns as the stock's price doubled. Too bad rank-and-file retail investors didn't see much of it. Shares in the 134-year-old exchange vaulted some 125 per cent on their first day of trading on the New York Stock Exchange, but hedge funds and other major institutions were expected to be among the initial public offering's biggest winners.

20.11.2006 - Oman aiming to buy 30% of DME
The first sour crude futures contract in the Middle East moved a step closer when Oman announced that it planned to buy a 30 per cent stake in the Dubai Mercantile Exchange (DME), which is due to launch the contract by the end of the first quarter.

20.11.2006 - Tokyo to consider futures launch
Japan's financial markets have taken another step towards normality with the Tokyo Financial Exchange's decision to consider launching futures contracts based on the overnight interest rate market for transactions between banks.

21.11.2006 - Monarch Capital Management included in the ABN AMRO FX Currency Managers Directory
This milestone comes on the heels of the development and growth of Monarch's FX Multi-Strategy Currency Program over the last two years or so, as well as a significant commitment by the currency manager to building and augmenting the operational infrastructure necessary to support the institutional demand for its FX trading products.

21.11.2006 - Platinum surges to record high
Platinum prices surged to a record high, supported by further speculation about a launch of a platinum exchange traded fund to mimic the success of similar gold and silver funds.

22.11.2006 - CME-CBOT takeover faces increased scrutiny
US regulators are expected to intensify scrutiny of the planned $8bn combination of Chicago's futures exchanges, according to the head of the industry's trade body.

22.11.2006 - Euronext and NYSE agree to balance board
The NYSE Group and Euronext have acted to ease fears that an agreed $12bn merger will favour the US exchange, changing the planned board composition of the combined entity so that each exchange would be equally represented.

22.11.2006 - Nymex lines up metals trade battle
A new battle is set to emerge in global metals trading with the New York Mercantile Exchange set to launch metals contracts for the US, European and Asian markets that will be traded only electronically.

23.11.2006 - Hunger for commodities is still growing - seventh week of successful trading for ETCs on LSE
ETF Securities Ltd (ETFS), the global pioneers in Exchange Traded Commodities (ETCs), is entering into its seventh week of successful trading of its 29 new ETCs on the London Stock Exchange with USD 54 million traded already.

23.11.2006 - Sentiment report fires up euro
The euro surged close to its highest level of the year against the dollar on Thursday after a strong German business sentiment reading boosted the single currency.

24.11.2006 - Buy yourself a bond for Christmas
The stock market has risen relentlessly, and real estate and commodity markets have peaked. It's a good chance to park some cash, as a lucky few did in the late 1990's. Are bonds the answer? That's for you to decide. But just as the Internet and e-broker platforms revolutionized stock investing ten years ago, now it's becoming easier for individual investors to invest in individual bonds. Here's why.

24.11.2006 - Eurex launches new equity options
Eurex has further enlarged its broad range of derivatives on European equities with the launch of six new options on Spanish and two options on Swedish equities.

24.11.2006 - Oil firms while nickel reaches new record
Oil prices moved higher but remained below the $60 a barrel level while dollar weakness spurred gold higher and nickel hit a new record.


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