|Bid||206.16 x 800|
|Ask||206.86 x 800|
|Day's Range||205.76 - 208.60|
|52 Week Range||161.05 - 224.91|
|Beta (5Y Monthly)||0.19|
|PE Ratio (TTM)||36.25|
|Earnings Date||Feb 11, 2020|
|Forward Dividend & Yield||3.00 (1.45%)|
|Ex-Dividend Date||Dec 24, 2019|
|1y Target Est||219.33|
Michael Spencer, one of the City’s best-known entrepreneurs, has become the cornerstone investor for a new UK fintech fund that aims to raise up to £100m. Mr Spencer is to contribute at least £25m, via his IPGL vehicle, to a fund called Element Ventures, which will focus on investments in technologies that streamline working practices in financial markets.
According to data published by the Office for National Statistics on Wednesday morning, consumer prices were 1.3 per cent higher than a year ago, dropping from 1.5 per cent in the previous two months. The figure is below analysts’ expectations of no change and down from a peak of 3.1 per cent in November 2017.
(Bloomberg) -- Bitcoin is off to its best start to a year since 2012, gaining about 20% in two weeks amid a renewed enthusiasm that is reviving memories of the mania of a few years ago.The world’s largest virtual coin rallied after climbing out of the downward price channel it’s been trading in for weeks, rising as much as 8.9% to $8,854, the highest since November. So-called altcoins were doing even better, with Dash and Bitcoin SV more than doubling and Bitcoin Cash up 60%.“When Bitcoin goes up, our customers usually start buying altcoins as they tend to follow the leader,” said Steve Ehrlich, chief executive officer of crypto-asset broker Voyager Digital.As was the case during the 1,400% surge that took place in 2017 that pushed Bitcoin into the mainstream, multiple reasons are being cited for the optimism. The move upward coincides with the debut of new options linked to the digital currency.“The price was slated to move up in general and the CME launch probably added fuel to it,” said Vijay Ayyar, Singapore-based head of business development at crypto exchange Luno, referring to CME Group Inc. beginning to trade options on Bitcoin futures. “Most people think this could be the beginning of a new uptrend.”The latest rally appears to be a breakout following an extended downturn going back to August. Gains will remain volatile unless Bitcoin is able to breach the $9,500 level, “which would indicate a higher high for the first time,” Ayyar said.Bitcoin’s almost 20% gain in the first two weeks of the year followed a volatile 2019, in which early optimism from investors over the announcement of Facebook Inc.’s Libra crypto project gave way to skepticism and intense regulatory scrutiny. Bitcoin still almost doubled last year.The wider industry continues to work toward mainstream adoption while awaiting greater regulatory clarity in markets including the U.S. on issues such as a Bitcoin ETF product. Meanwhile, there is widespread debate whether the upcoming “halving” -- a scheduled reduction in the amount of Bitcoin produced in mining to control inflation -- will serve as a fresh driver for gains.\--With assistance from Matt Turner and Kenneth Sexton.To contact the reporters on this story: Vildana Hajric in New York at email@example.com;Eric Lam in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Jeremy Herron at email@example.com, Cecile Gutscher, Dave LiedtkaFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
TriOptima, the leading multilateral compression provider that lowers costs and mitigates risk in OTC markets, today announced that counterparties using the triReduce CLS FX compression service have eliminated $9.1 trillion of gross notional value from their FX forward portfolios in 2019. A new record for the service, this equates to an annual increase of 71%.
CME Group Inc. (NASDAQ: CME ), a derivatives and options exchange operating in Chicago and New York, formally announced the launch of options on Bitcoin (BTC) futures Monday, delivering on the growing ...
(Bloomberg) -- Institutional interest in Bitcoin-related contracts appears to be building and market measures indicate high anticipation of the launch of CME Group Inc. options on Jan. 13, according to JPMorgan Chase & Co.While a consortium known as Bakkt, which includes New York Stock Exchange parent Intercontinental Exchange Inc., began offering options last month, volumes and open interest have been “rather small,” strategists led by Nikolaos Panigirtzoglou wrote in a note Jan. 10. Given the dominance of CME in trading Bitcoin futures on regulated exchanges, this new offering may change things, they said.Read: Bitcoin Options Introduction Subdued in Wake of Futures Letdown“There has been a step increase in the activity of the underlying CME futures contract” over the past few days, Panigirtzoglou wrote, noting that open interest has increased 69% from year-end, and that the number of large open-interest holders has grown. “This unusually strong activity over the past few days likely reflects the high anticipation among market participants of the option contract.”Introduction of new Bitcoin contracts has a mixed track record. At times it has appeared to be a drag on the price, such as when ICE debuted its new futures contract in September. And the price peak around $19,000 in December 2017 occurred just as CME and Cboe Global Markets Inc. launched futures on the world’s largest cryptocurrency.Bitcoin was up 2.1% to $8,209.42 as of 11 a.m. in Hong Kong, according to Bitstamp pricing, near its highest levels since mid-November.Separately, Bitcoin’s intrinsic value has been rising, but remains below the market price following a significant divergence in the middle of last year, the report said. JPMorgan calculates intrinsic value by treating Bitcoin as a commodity and looking at the marginal cost of production including computational power employed and cost of electricity.“The market price has declined by nearly 40% from its peak while the intrinsic value has risen by around 10%,” Panigirtzoglou wrote. But “the gap has not yet fully closed, suggesting some downside risk remains.”To contact the reporter on this story: Joanna Ossinger in Singapore at firstname.lastname@example.orgTo contact the editors responsible for this story: Christopher Anstey at email@example.com, Shamim Adam, Joanna OssingerFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
(Bloomberg) -- Options on SOFR futures became available for trading Monday, and 10 contracts changed hands -- five lots of a straddle, in which a put and a call with the same strike are bought, anticipating an increase in volatility.The trade involved the 98.625 strike in December 2020 options on three-month SOFR futures, according to open-interest data released by CME Group Inc., which lists the contracts. The straddles were traded at a price of 37 ticks, according to several traders familiar with the transactions who asked not to be identified because they aren’t authorized to speak publicly.The Secured Overnight Financing Rate is a reference rate administered by the Federal Reserve Bank of New York that’s intended to replace the scandal-plagued London Interbank Offered Rate, which is under threat of extinction.SOFR futures were rolled out in 2018 by CME, whose eurodollar futures contract –- with settlement based on Libor –- remains its most-traded product. CME has proposed that in the event that Libor becomes unavailable, existing eurodollar futures and options contracts will be settled based on SOFR.A buyer of the straddle benefits from an increase in implied or realized volatility in the underlying futures. In recent months, volatility has increased as the market priced in more Fed policy easing, and vice versa.For qualifying market makers, CME is waiving fees until June 30 for options on three-month SOFR futures and is giving a $1 fee credit for each transaction, capped at $30,000 per month.Bid and offer prices were quoted Monday for several dozen put and call strikes, most of which were within five strikes of being at-the-money, according to a trader. Most of the spreads were 1.5-2 basis points.In eurodollar options, spreads for near-the-money strikes are generally not more than 0.5 basis point. However, open interest in the underlying futures dwarfs open interest in SOFR futures. For example, open interest exceeds 1 million in the four nearest quarterly eurodollar contracts. Open interest in SOFR futures is less than 400,000 contracts in total.At least one major trader said it’s making markets in SOFR options. DRW Holdings LLC, one of the world’s biggest high-frequency traders, is doing so both electronically and via open outcry, according to a spokesperson.(Adds open-interest data in second paragraph, fee-waiver condition in sixth paragraph)To contact the reporter on this story: Elizabeth Stanton in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Benjamin Purvis at email@example.com, Mark TannenbaumFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
Producer sentiment regarding current economic conditions of the agricultural economy dropped 12 points in December, according to the Purdue University/CME Group Ag Economy Barometer. The Index of Current Conditions registered a reading of 141, down from 153 in November. Meanwhile, the Index of Future Expectations remained strong, up 2 points in December to a reading of 155. The Ag Economy Barometer, which encompasses results from both indices and is based on a mid-month survey of 400 U.S. crop and livestock producers, dropped 3 points in December to a reading of 150, down from 153 in November.
Options trader and television personality Jon Najarian leads a panel discussion on forex and metals trading with Amelia Bourdeau, founder and CEO at Market Compass LLC; and Kathy Lien, managing director of FX Strategy.
CME Group, the world's leading and most diverse derivatives marketplace, today reported its December and full-year 2019 market statistics, showing it reached average daily volume (ADV) of 19.2 million contracts during the year and 15.5 million contracts during the month of December. Open interest at the end of December was 113 million contracts. Market statistics are available online in greater detail at https://cmegroupinc.gcs-web.com/monthly-volume.
Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]
(Bloomberg) -- Bitcoin advocates are taking a more measured approach over the introduction of options for the world’s largest cryptocurrency after the wild ride they took with futures.While the contracts that provide the right, but not the obligation, to buy or sell a specified amount of coins within a set time period have been available on some online exchanges, they’re heading for the mainstream, just as futures did during the height of the crypto mania in 2017.A consortium known as Bakkt, which includes the parent company of the New York Stock Exchange, began offering options earlier this month. CME Group Inc., one of the first U.S. regulated exchanges to offer Bitcoin futures, will launch their own options on Jan. 13.“It’s hard to say who exactly will show up on day one,” Tim McCourt, global head of equity index products at Chicago-based CME, said in a phone interview.In the case of futures, the debut session on the Cboe Global Markets Inc.’s exchange in December 2017 triggered trading halts as volume surged beyond dealers’ expectations. A year and a half later, the Cboe stopped listing the futures as demand evaporated in the wake of the bursting of the crypto bubble in 2018.Up until now, options trading has been mostly a niche of professional traders. Average daily volume has hovered around $22 million for the past year, with more than 95% happening on just one exchange, Deribit, according to derivatives tracker Skew. That compares with $1 billion in daily volume for Bitcoin and about $10 billion for the Bitcoin futures market.Traders may be most excited by the Dec. 27 introduction of options by OKEx, a popular exchange in Asia that is registered in Malta. Like many crypto trading platforms, the companies are adding more complex avenues to wager on price moves with Bitcoin no longer just going straight up.While Bakkt and CME serve many institutional clients, most continue to stay away from the crypto market, spooked by greater regulatory and political scrutiny, an abundance of scams and the coins’ huge volatility.“A lot of people are excited without knowing why exactly,” Sam Bankman-Fried, who heads large cryptocurrency trader Alameda Research, said in a phone interview. “Sometimes people go through a lot of work to list options, and there’s no one buying it.”Bankman-Fried, who also co-founded the FTX derivatives exchange, said options can be helpful for so-called miners and people holding vast quantities of coins such as hedge funds that won’t or can’t sell them. Options can then offer a way to cut volatility risk. Some retail investors may wish to speculate using options as well.“You get a little bit bored staring at the same graph all day,” said Bankman-Fried, who is planning to offer options on his exchange. “Options offer a legitimately new thing for them to be trading.”While many crypto holders used to lend out their coins, yields on such lending have declined, and many coin owners may make more money by using call overwriting strategies, instead, said Josh Lim, head of trading strategy at Galaxy Digital Holdings Ltd. in New York.Beyond Bitcoin, demand for options is questionable. At Deribit, which began offering Bitcoin options in 2018 and Ether options earlier this year, interest in Bitcoin option contracts has held up, but orders for Ether contracts have been waning since May, according to the company’s data.“A lot of people ask us, ‘why don’t you do Ripple options?’ and it’s a lot of work,” Luuk Strijers, an executive at Deribit, said in a phone interview from Amsterdam. “I don’t think the options space is ready for smaller coins than Ether. It’s simply too small.”Still, as more exchanges offer contracts, the crypto options market could grow 10 to 20 times in size, Strijers said. He points to Amazon.com Inc., where trading volume of options on its stock is just a tad lower than the trading volume of its shares.“This will reduce spreads and improve liquidity in the market,” said Kyle Samani, co-founder of Austin, Texas-based Multicoin Capital Management LLC.That said, the same argument was made about futures when the price of Bitcoin was more than double the current value.To contact the reporter on this story: Olga Kharif in Portland at firstname.lastname@example.orgTo contact the editors responsible for this story: Jeremy Herron at email@example.com, Dave Liedtka, Randall JensenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
CME Group Inc. will announce earnings for the fourth quarter and full year of 2019 before the markets open on Wednesday, Feb. 12, 2020. Written highlights for the quarter and year will be posted on the company's website at 6:00 a.m. Central Time, the same time it provides its earnings press release. The company will hold an investor conference call that day at 7:30 a.m. Central Time, at which time company executives will take analysts' questions.
CME Group, the world's leading and most diverse derivatives marketplace, announced its foreign exchange (FX) futures reached a new single-day volume record of 2.7 million contracts on Dec. 11, 2019, surpassing the previous record of 2.5 million contracts set on June 14, 2017.
CME Group Inc. (NASDAQ: CME), the world's leading and most diverse derivatives marketplace, today declared its annual variable dividend, amounting to $2.50 per share. The dividend is payable January 15, 2020, to shareholders of record on December 27, 2019.
Cboe Global Markets said on Tuesday it would take full control of EuroCCP, Europe's largest clearing house for stock trades, to bolster its post-Brexit base in Amsterdam and diversify into derivatives. It is the latest deal in a rapidly consolidating market where the Swiss Exchange has bid for its Madrid counterpart and the London Stock Exchange is buying financial market data company Refinitiv. Cboe, the biggest pan-European share trading platform, already owns 20% of EuroCCP.