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From MarketsWiki
CME-Nymex deal raises questions
By Anuj Gangahar in New York and Hal Weitzman in Chicago
The combination of the CME Group with the New York Mercantile Exchange, now complete, makes a behemoth in futures trading even bigger but does little to clarify how the exchange sector will develop in the coming years. Michael Henry, a senior executive in Accenture’s global Capital Markets practice, said: “The acquisition itself was fairly straightforward. CME buys a US-based derivatives exchange with a similar product set and technology platform. But the broader context is more complex and occurs within an ongoing battle for market share between virtually all of the world’s largest exchanges.”
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FDIC May Borrow Money From Treasury: Report
(Reuters) - Federal Deposit Insurance Corp. (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported. The borrowing could be needed to cover short-term cash-flow pressures caused by reimbursing depositors immediately after the failure of a bank, the paper said.
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Dubai Group Closes $1.5 Billion Syndicated Commodity Murabaha Facility
Dubai Group, the leading diversified financial services company of Dubai Holding, has successfully closed the largest ever multicurrency syndicated commodity Murabaha transaction in the UAE.
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Weather Risk Hedging Seen Boosting Global Economy
NEW YORK: Insuring against weather-related calamity in this era of global warming might seem the work of bean counters and actuaries. But a study by WeatherBill, an Internet firm offering weather-related risk cover for individuals, as well as companies and governments, says the global economy could expand by up to $258 billion if such contracts were more widely purchased.
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Nymex Employee Barred For Slipping Information to Brokers
The Commodity Futures Trading Commission barred former New York Mercantile Exchange employee from the industry after an investigation found he had been providing Nymex brokers with confidential information regarding investigations and proposed regulatory actions.
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Liquidnet And Bats Expand European Operations
Shanny Basar in New York - Two U.S. equity trading platforms have expanded their European operations putting further pressure on the incumbent exchanges as other venues have launched in the region and gained market share.
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