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CME

CME Group

$104.27

0.34 (0.33%)

10:01
10/13/16
10/13
10:01
10/13/16
10:01

CFTC finds NYMEX, COMEX have adequate market surveillance programs

The U.S. Commodity Futures Trading Commission's Division of Market Oversight announced that it has issued the results of a rule enforcement review of the New York Mercantile Exchange and the Commodity Exchange. The review, which covered a one-year target period, evaluated the exchanges' market surveillance programs and their compliance with elements of Designated Contract Market Core Principles 2, and 5. The review did not evaluate the exchanges' procedures for monitoring Exchange for Related Position transactions, which procedures are currently under evaluation by the Division in a separate rule enforcement review. The Division found that NYMEX and COMEX, wholly-owned subsidiaries of CME Group, Inc., have adequate market surveillance programs, subject to one recommendation regarding the exchanges' program for monitoring exemptions from position limits. The Division recommended that NYMEX and COMEX, "consider implementing a formal review process by which they can verify that a market participant who has a position larger than a position limit is, in fact, making use of an exemption, consistent with the strategy described in their exemption application." The Division found that the exchanges' market surveillance systems and programs for routine surveillance of market fundamentals and surveillance of expiring contracts were adequate. It found that NYMEX and COMEX maintain sufficient market surveillance staff for the program areas under review. It also found that the exchanges' surveillance tools were adequate for detecting rule violations. The review also found that the exchanges' investigative work in the cases reviewed was thorough and complete, and that matters were closed in a timely manner. The exchanges also have adequate rules to obtain information from market participants.

  • 27

    Oct

CME CME Group
$104.27

0.34 (0.33%)

05/20/16
05/20/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on the today's top analyst initiations with this list compiled by The Fly: 1. IntercontinentalExchange (ICE) initiated with a Buy at Sterne Agee CRT by analyst Jason Weaver, who put a $300 price target on shares. The firm has a positive view of what it sees as the company's "leading position and growth trajectory in energy, equity, and fixed income trading and clearing." The firm adds that the company's revenue mix is less volatile than its peers, while synergies and cost controls have made the company more profitable. Weaver also initiated Nasdaq (NDAQ) with a Buy rating and $76 price target, CME Group (CME) with a Neutral rating and $90 price target and CBOE Holdings (CBOE) with an Underperform rating and $56 price target. 2. Akari Therapeutics (AKTX) initiated with a Buy rat Canaccord. The firm set a $33 price target on shares and cited expectations for FDA product approvals and a level of underappreciation by investors for its shares. 3. Ralph Lauren (RL) initiated with a Buy and $115 price target by BB&T analyst Corinna Freedman, who believes Ralph Lauren will be successful in its turnaround and gain relevancy among a new younger demographic due to its strong vertical global brand house with a powerful heritage and sees significant category opportunities remaining in Women's and Accessories. Additionally, Freedman said International growth opportunities remain and Club Monaco repositioning is underappreciated. 4. Johnson & Johnson (JNJ) initiated with a Sell at Standpoint Research and $94 target. 5. PACCAR (PCAR) initiated with a Hold at Argus. The firm said it expects challenging industry conditions to pressure earnings through 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here
08/31/16
JEFF
08/31/16
NO CHANGE
Target $118
JEFF
Buy
CME Group price target raised to $118 from $112 at Jefferies
Jefferies analyst Daniel Fannon raised his price target for CME Group to $118 after traveling with management. The analyst says the diversity of CME's growth continues and he keeps a Buy rating on the shares.
09/12/16
JPMS
09/12/16
NO CHANGE
Target $116
JPMS
Overweight
CME Group price target raised to $116 from $106 at JPMorgan
JPMorgan analyst Kenneth Worthington raised his price target for CME Group to $116 saying the company's product mix benefits from the current market environment. The analyst sees further share upside and keeps an Overweight rating on CME.
09/23/16
RBCM
09/23/16
NO CHANGE
RBCM
CBOE 'likely in the cross-hairs' of bigger peers, says RBC Capital
RBC Capital analyst Andrew Bond said he thinks the strategic risk of a deal whereby CBOE (CBOE) buys Bats Global Markets (BATS), as it has been reported to be in talks to do, outweighs the potential reward. However, he also believe CBOE's relatively small size, limited regulatory risk, clean balance sheet, and strong organic growth make it an attractive target for its largest exchange peers, such as IntercontinentalExchange (ICE) and CME Group (CME). A combined CBOE/BATS would be more difficult to acquire, so if CBOE is to be acquired, "the time is now," added Bond.

TODAY'S FREE FLY STORIES

ANET

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FB

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WMAR

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AAP

Advance Auto Parts

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AMTD

TD Ameritrade

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AMD

AMD

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MOBL

MobileIron

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MOBL

MobileIron

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AMD

AMD

$14.00

0.87 (6.63%)

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MRVL

Marvell

$16.21

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SQ

Square

$14.70

0.07 (0.48%)

, AAPL

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AAPL

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CWBC

Community West Bancshares

$10.13

0.0252 (0.25%)

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AFL

Aflac

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-0.06 (-0.08%)

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ARGS

Argos Therapeutics

$4.40

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CPB

Campbell Soup

$59.42

0.47 (0.80%)

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TSO

Tesoro

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AMD

AMD

$14.00

0.87 (6.63%)

, INTC

Intel

$36.52

0.04 (0.11%)

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INTC

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CEO

CNOOC

$121.51

-1.14 (-0.93%)

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QVCA

Liberty Interactive

$19.71

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UAA

Under Armour

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EAT

Brinker

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KR

Kroger

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UNP

Union Pacific

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ECPG

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UNP

Union Pacific

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