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CME Hikes S&P 500, Dow Jones, Nasdaq E-Mini Margins By 9%
Remember when the CME and the administration punished speculative gold longs in 2011, and crude longs in 2012 by hiking or warning to hike margins beyond the breaking point for levered holders of futures contracts? It works for stocks as well. Last night, the CME may have taken Obama's warning to the market a little too seriously, and announced a hike in the core E-Mini futures contracts of about 9% across the board for initial and maintenance margin requirements. Has Obama officially launched a war on Wall Street until it plunges to prove to Republicans just how serious "all this" is?
Source: CME
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Bonafide hedgers getting spanked too.
must. get. market. down....Or Obama will lose what little credibility he has left.
the market ain't moving down and everyone knows it. nobody, and i mean nobody, believes the usa gubbermint will ever cut spending. not now, not nohow, not never. [/double negative]
preparing to btfd if it even goes down a measly 10%
.10%
fyp
We got rid of the CFTC but we're still stuck with the CME?
Well that sucks!
e-minis down (-0.22%). that's good enough for me! buy mortimer!
All those cute little banksters got together with the prez yesterday and and it remains to be seen what they decided to crash this time. It's not possible to assemble that much evil into such a small space and not achieve critical mass for some nasty event, that's just spiritual physics. Still, if they decided to hold a war against the S&P most people have yet to read their invitations.
Red Foxx moment?
Grey goose?
MF Global trustee plans to return more customer fundshttp://www.reuters.com/article/2013/10/03/us-mfglobal-payout-idUSBRE9920...
(Reuters) - The trustee liquidating the brokerage unit of MF Global Holdings Ltd has asked a federal bankruptcy judge for permission to return remaining funds to U.S. customers who traded on domestic exchanges.
Wednesday's request by court-appointed trustee James Giddens would reallocate money earmarked for general unsecured creditors to customers of the brokerage, who have a higher-priority payback status. The move could bring closure to customers who have waited nearly two years to fully recover their money, which became tied up when MF Global went bankrupt on October 31, 2011.
Giddens has estimated that $1.6 billion went missing from customer accounts, mainly in the few days prior to MF Global's collapse, and that so far about 98 percent of the money has been returned to customers who traded on U.S. exchanges, and 74 percent to customers who traded on foreign exchanges.
MF Global was a commodities brokerage run by Jon Corzine, the former New Jersey governor and senator and a former Goldman Sachs chairman.
After its collapse amid exposure to risky European sovereign debt, regulators found that MF Global had tried to bridge its liquidity gaps in its hectic final days by improperly dipping into customer funds.
Giddens was tasked with recovering as much of that money as possible, including through settlements with MF Global counter-parties, including JPMorgan Chase & Co and CME Group Inc.
Corzine 2016!
I thought this only happens to Gold and Silver.
<Watch the CME be labeled a terrorist organization by the end of the day.>
Everyone wants the markets to go down to force a resolution in DC. I'd just like to know who made THIS call.
And notice no hike on Oil Futs (I know they did a round a year or two ago but not this time). THat might actually reduce the price of oil and make things better. Which is certainly not what we want happening right now.
what a joke..this article is like a faux moronic talk show host... obama did this...
so..hes bringing sharia law too, turning the nation into muslim, dhimitude in the aca... blah blah..
seriously? LOL
100% info control means no rogues.. 100% info control means only the system's agenda gets done. not any one person's. this is just silly pandering...
btfd is on bitchez!
Wait till the 16th when everyone is sure we're going to default the next day?
I'm already running around buying these dips anywhere I can,
You did this to me Ben! You!!!!!!!
We should all send Obama a thank-you letter. "Dear Mr. Obama, thank you for creating a better reentry point in the market for us. God knows, the Fed never will."
Showing a little gratitude to His Excellency is never a bad thing.
Or not.
I have the template btfd thank you letter on my desktop ready to go. Just waiting for the Santa rally.
You see this nodebt?
Bye bye advisors, hello SPY. And Bernak has skynet on autopilot ready to ramp those markets every single year and keep those pensions intact. No sense in letting some dumbass hedge fund fuck up the grand plan.
http://www.marketwatch.com/story/pensions-calpers-embraces-indexing-2013-10-03?link=MW_home_latest_news
Doesn't surprise me. When you got a 285 Billion Dollar Battleship to pilot you're pretty much locked into a strategy like that. Nobody could come up with enough "good ideas" to invest that much money in.
We do quite a bit of indexing when we're talking about the big boring parts- Large Cap Blend stuff. Hard to beat the index in an area like that. Go out to the extremes of value vs. growth, down into much smaller cap stuff or into a bit of an oddball market like High Yield bonds... active works better if you can find the right guy. These are little nooks and crannies Calpers would have a hard time putting any meaningful amount of money to work in, I think.
It's an asset bloat problem for them. Might as well just index than do a million different things at higher cost that net out at the index anyway.
You fucking serious?
Obama meets with head banking heads, now this conveniently after.
Something's fishy..
And boom goes the dynamite.
Yellen's snatch this early in the morning?
It's been marinating all night. Correct me if I'm wrong but tbtf met with the prez to reaffirm that they are tbtf, to simply get advice on political optics. Here I am thinking that tbtf is both long and short, or wherever the profits are to be found.
^^^this exactly^^^
they will do anything, and i mean anything, to conjure trading volume. the fed makes contradictory statements every five minutes, the banks lie through their teeth day after day. now this. i wouldn't be surprised if john boehner orchestrated this whole thing at the behest of goldman sachs for a measly bonus.
Lately he's been looking a little - how should I put it - non-tan. I bet a few cases of spray tan would grease his palms nicely.
Has Obama officially launched a war on Wall Street until it plunges to prove to Republicans just how serious "all this" is?
Clearly yes.
Operation tank the markets and screw the republicans has begun.
It's not like Obama didn't warn us yesterday.
Wake me when they let the DOW even dip under 15,000...I don't believe it.
It seems lately regardless of which MSM blow horn station you tune to the strategy is to paint the Tea Party/Paul crowd like a bunch of crazy guys.. They are probably about to tank the market in order to blame the Tea Party for fucking everything up via a MSM smear campaign sync'd with a mini crash. If that doesn't work then perhaps they'll start arresting Tea Party politicians ala those Nazi's in Greece. The only 2 parties that exist today are the rep/dems vs. Tea party.. and they need to be crushed before the tbtf lose control of the political process.
Didnt Barry jut meet with Diamond and Blackfin???
Can't just abra-cadabra down the teflon markets on a whim....Skynet runs it now, not some chalky Kenyan meat-puppet.
hmmm...if so many buyers are in, what next?
print more money to accumulate or start a distribution campaign?
follow the price, not predictions.
An economy lead by NFLX and PCLN can be telling when names like LMT, UNP, CVX, UTX are weak.
The primary list of stocks shows the market = high dollar volume names.
CME hikes margins! It's manipulation! :-)