Those #!*+%¤ speculators.
Blame it on the “speculators.” Game of the week in Congress (only because Congress goes on holiday every other). A rational person (but see “holidays” above) would know that most prices rise (falls are “good”) for 25 different reasons. But it is so less strenuous to find one culprit.
Why do the derivatives markets attract these deviates while the stock markets rely on the prudent, cautious, venerable investor? (more…)
The Clearing Corporation Charitable Foundation has given a $2 million grant to the University of Illinois College of Agricultural, Consumer and Environmental Sciences to establish a Chair in derivatives trading in the school’s department of agricultural and consumer economics.
“The generosity of the Clearing Corporation Foundation helps us build on one of our traditional research and academic strengths, dating back over 40 years ago when Tom Hieronymus was establishing the University of Illinois as a premiere institution in the futures industry,” said Dr. Robert J. Hauser, head of the Department of Agricultural and Consumer Economics in a press statement. “Given the importance of The Clearing Corporation to that industry, we are pleased to be able to recognize and honor it through the named chair.”
According to the release, directors of the foundation chose the University of Illinois because of its dedication to education relating to the derivatives industry, and the foundation intends that the derivatives industry will benefit from the University’s continuing educational focus on issues and studies that affect the industry.
Dr. Philip Garcia, the T.A. Hieronymus Distinguished Chair in Futures Markets and director of the U of I Office for Futures and Options Research, said that developing a comprehensive understanding of futures and options markets and transmitting that knowledge to their users has been an important dimension of the department’s mission. “The addition of these new resources will ensure that we will be able to maintain and strengthen this tradition. We are thankful for the generosity of The Clearing Corporation Charitable Foundation and pleased with the challenges that we will be able to address effectively in the future.”
The Swiss Futures and Options Association (SFOA) has kicked off its 28th Burgenstock Conference, this time from Montreux, on the southern tip of Lake Geneva, while the Burgenstock resort in the mountains above Lake Lucerne is renovated.
The focus so far has been pretty macro – a stream of folks from around the world touting the dynamism of the Emirate of Dubai, which is sponsoring many of the events this year. Former LME boss David King, who is now business development boss at HSBC’s Middle East operations, pointed out two interesting tidbits: first, that the bulk of the products being traded in Dubai are oriented to the retail sector; and second, that products based on Islamic finance are proliferating there.
