Market Currents

• Tuesday, December 15, 2009

• 10:24 AM CME Group (CME) clears its first credit-default swap in an effort to play catch-up with IntercontinentalExchange (ICE). The latter has guaranteed more than $4.3T in CDS sinch March, including its first buy-side swap yesterday. Comment!

• Tuesday, November 3, 2009

• 09:22 AM IntercontinentalExchange (ICE): Q3 EPS of $1.18 beats by $0.03. Revenue of $256M (+27.3%) in-line. Shares +0.2% premarket. (PR) Comment!
• 00:05 AM Notable premarket earnings: ABC, ACOR, ADM, AMT, ANR, CAM, COL, CTSH, EMR, EXPD, FTR, GET, HCP, HNT, ICE, JOE, JRCC, LPX, MA, MHS, MRO, MVL, NXG, OSK, PER, PKD, PQ, RCL, RDC, RL, SNH, TE, TEVA, THC, TLM, VIA, VNO Comment!

• Thursday, September 17, 2009

• 11:33 AM IntercontinentalExchange (ICE +2.3%) fires back at CME Group (CME +1.1%), calling its white paper (.pdf) on position sizing "flawed and potentially anti-competitive." ICE says CME's suggestion that newer, smaller exchanges receive smaller limits based on a "percentage of open interest" test "would retard competition by mathematically precluding new entrants from building liquidity in their markets." Comment!

• Thursday, September 10, 2009

• 10:58 AM Pali Research thinks IntercontinentalExchange (ICE -1.5%) could be in trouble: "The more digging we are doing the more we feel that positon limits are not being fully priced-in for ICE here... particularly given view that the CFTC is going to take a hard line and will be aggressive on financial position limits." Comment!

• Tuesday, August 4, 2009

• 07:37 AM IntercontinentalExchange (ICE): Q2 EPS of $1.12 misses by $0.01. Revenue of $250M (+27%) vs. $243M. Shares +0.6% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Tuesday's open: ADM, ARM, AYE, CAM, CBB, CTSH, CVS, DHI, DISCA, DNR, DUK, EMR, ETR, EXPD, FTR, HCP, HNT, ICE, ICON, JOE, LPX, MAC, NI, PGN, PNW, PPL, RDC, SE, SPG, THC, TRW, UPL, VNO, VRX, WTI Comment!

• Thursday, July 9, 2009

• 09:00 AM Premarket gainers: RIGL +18%. AXL +16%. NVAX +12%. HBAN +11%. CTIC +10%. HGSI +8%. SOL +6%. SKS +6%. AA +6%. ALU +6%. TJX +6%. AAUK +6%. GNW +5%. DB +5%. SAY +6%. TGT +4%. ESLR +4%. SAP +4%. YGE +4%. CLF +4%. MT +4%. ABB +4%. X +4%. F +4%. GOLD +4%. ICE +4%.
  Losers: ELX -14%. AIG -4%. Comment!

• Tuesday, July 7, 2009

• 13:16 PM Broad weakness in exchange stocks after the CFTC solicited input (.pdf) for proposed limits on trading of commodities, a crackdown on speculators that in theory could limit trading volumes. ICE -8%. CME -3.3%. 1 Comment

• Tuesday, June 2, 2009

• 12:56 PM If things continue to stabilize, analysts say stock exchange trading volumes could slump by 20% or more. (Stocks: CME, NYX, NDAQ, ICE) Comment!

• Wednesday, May 13, 2009

• 14:13 PM Sources say the Treasury will announce plans to require standardized OTC derivatives - which would likely be exchange-traded - as early as today. Good news for CME Group (CME +7.8%), MF Global (MF +1.9%), IntercontinentalExchange (ICE +5%), NYSE Euronext (NYX +1.6%). 1 Comment

• Tuesday, May 5, 2009

• 07:52 AM IntercontinentalExchange (ICE): Q1 EPS of $1.09 beats by $0.14. Revenue of $232M (+12.1%) vs. $230M. (PR) Comment!
• 00:05 AM Notable earnings before Tuesday's open: ADM, ADP, ALU, AVP, AYE, BAM, CBB, CEG, CTSH, CVS, DNR, DRH, DUK, EMR, FCL, FE, HEW, HNT, ICE, JOE, KFT, LM, LPX, MAC, MVL, PAG, PCP, PGN, PNW, PQ, RDN, SE, SRE, TAP, TEVA, UNT, VRX, VTR, WEC, WTI, WY, WYNN, XEC
    Comment!

• Monday, March 9, 2009

• 08:15 AM Intercontinental Exchange (ICE) begins clearing credit-default swaps today. (previously) Comment!

• Thursday, March 5, 2009

• 08:19 AM The Fed approves a CDS clearinghouse plan presented by IntercontinentalExchange (ICE), leaving SEC approval as the company's final hurdle. An SEC spokesman says Intercontinental's proposal is 'under active consideration.' Comment!

• Tuesday, February 10, 2009

• 09:00 AM Premarket losers: PFG -23%. CBST -16%. LNCR -11%. HIG -6%. ATE -4%. ICE -4%. ING -4%. Comment!