Contributor: Russ Chrusciel
...Now perhaps you're thinking, "Thanks for the summary, Russ. Gotta go." But I'm not finished yet; my interest isn't in equities. Equities are so 2008. In my world, equities are nothing more than a hedging instrument and an input to a pricing model. Options will be the playground for the trading community in 2013 and beyond.... read more
Contributor: Russ Chrusciel
The last several months have been crazy for financial exchanges. We had anxiously waited for the Deutsche Bourse–New York Stock Exchange deal to close—a merger that would have fundamentally changed the global exchange landscape for derivatives trading – and watched the deal get blocked by the European Commission. Now, as we eagerly anticipate the implementation of Dodd-Frank legislation and the Volcker rule in the U.S. in the coming months, we should consider how the final implementation will affect trading volumes, trading strategies and compliance needs for those engaged in derivatives trading.... read more
Contributor: Russ Chrusciel
When was the last time a significant exchange merger came to fruition? Over the past year, all we’ve seen is the dissolution or outright rejection of prominent merger plans by regulatory bodies. The Australian government effectively denied a proposal to merge the Australian Securities Exchange and Singapore Exchange. Plans for the Toronto Stock Exchange (TSX) to unite with the London Stock Exchange (LSE) were scuttled when nationalistic feeling seemingly dissuaded the necessary two-thirds of voters from approving the deal. The most noteworthy by far – the highly anticipated cross-Atlantic “super-merger” between the New York Stock Exchange (NYSE) and Deutsche Börse – reached its own end when European regulators raised significant objections to the merged entity’s likely stranglehold on derivatives market share in Europe.... read more
Contributor: Russ Chrusciel
It’s hard for me to believe that Thanksgiving has come and gone—the kick-off to the holiday season of 2011. Thanksgiving often gets trampled or left behind in retailers’ race to get to the lucrative finish line of Christmas. However, I think we should reflect on this past Thanksgiving, and take time to stop and take inventory of the many blessings we have as individuals and as a nation. Let’s look at some of the key exchanges across the globe – and lay out what each of these exchanges can be thankful.... read more
Contributor: Russ Chrusciel
In the last couple of days, the European Commission has sent its list of objections to the NYSE and Deutsche Boerse around their anticipated merger. So how does the merger process advance from here? To me, this is where the true "fun" begins. Fun in the sense that we get to see how the European Commission views this deal right now, and even more importantly, we'll get to see what kind of concessions NYSE and DB will ultimately make in order to get the final merger approved.... read more
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