ADVFN - Advanced Financial Network.
HOME» NASDAQ » N » NDAQ Stock Price » NDAQ Stock News

Nasdaq Stock Market Share News

 The Nasdaq Omx Grp. (mm) Stock Price
NDAQ Stock Price
 The Nasdaq Omx Grp. (mm) Stock Chart
NDAQ Stock Chart
 The Nasdaq Omx Grp. (mm) Stock News
NDAQ Stock News
 The Nasdaq Omx Grp. (mm) Company Information
NDAQ Company Information
 The Nasdaq Omx Grp. (mm) Stock Trades
NDAQ Stock Trades

Treasury Delays Decision On New Line Of Floating Rate Notes

By Howard Packowitz Of DOW JONES NEWSWIRES CHICAGO -(Dow Jones)- The U.S. Treasury Department on Wednesday said it deferred a decision on whether to issue a new line of debt securities that may impact an emerging three-way contest among exchange operators in the huge interest-rate futures market. Agency officials said more time is required to study the impact of selling floating-rate Treasury notes alongside its traditional offerings of fixed-rate securities, surprising many bond traders and analysts who had expected the plans to be finalized. The Treasury is examining a move into floating-rate issuance to provide the government with more flexibility in paying off its massive debt, perhaps at a lower cost. The deferral also puts on hold a decision on how the Treasury might track fluctuating rates, a move being closely followed by exchange operators as two rivals challenge the dominant share in rate futures held by Chicago-based CME Group Inc. (CME). A move into floating-rate issuance would be most beneficial to NYSE Euronext (NYX), whose U.S. futures unit is launching a new range of rate futures. The head of the NYSE Liffe US unit said last week that the contracts would gain faster acceptance if the Treasury selects the General Collateral Finance, or GCF, repo index as the floating-rate benchmark. "We think it's going to be a success either way, no matter what Treasury decides," said NYSE Liffe US Chief Executive Tom Callahan said in an interview. An NYSE spokesman declined to comment Wednesday. NYSE still plans to launch the new product in July, the latest attempt to challenge CME Group Inc. (CME), which dominates rate futures trading. Bank and broker-backed ELX Futures LP also lists rate futures contracts. The GCF repo index calculates the average interest rate paid each day for "general collateral" repurchase agreements that help banks finance trading for Treasury bonds. Callahan said the GCF index is a "far more precise" hedging tool compared to the London Interbank Offered Rate and the U.S. federal-funds rate, Callahan said. Libor is the benchmark for Eurodollar futures listed at CME, NYSE Liffe US and the broker-backed exchange run by ELX Futures LP. For more than a year, international regulators and law enforcement officials have investigated allegations that some traders and bank employees have manipulated interbank rates. The British Bankers Association, which oversees Libor settings, is conducting its own investigation. Many traders have in recent years abandoned markets tied to the overnight effective fed-funds rate because the Federal Reserve has kept the rate near zero for a prolonged period. -By Howard Packowitz, Dow Jones Newswires; 312-750-4132; howard.packowitz@dowjones.com

Stock News for Nasdaq Stock Market (NDAQ)
DateTimeHeadline
07/01/201522:40:49ASX Selects Nasdaq's Post-Trade Risk Technology to Manage Its...
06/30/201508:01:18Nasdaq's BWise Launches Sarbanes-Oxley Software Solution for...
06/30/201500:20:13Cheil Industries Promises Better Dividends if Merger Approved
06/29/201507:01:13Nasdaq Launches Index Calculation System for Marketplaces
06/26/201517:59:01Nasdaq Closing Cross Calculates U.S. Russell Indexes for the...
06/24/201516:34:07U.S. Stocks Fall on Greece Worries
06/24/201515:20:06U.S. Stocks Fall on Greece Worries
06/24/201515:16:17U.S. Stocks Fall on Greece Worries
06/24/201509:01:28Nasdaq and Chain to Partner on Blockchain Technology Initiative
06/24/201509:00:03U.S. Stock Futures Fall
06/24/201509:00:00Nasdaq Migrates Disaster Recovery to Equinix's Chicago Data Center
06/23/201509:30:07U.S. Stock Futures Rise
06/23/201509:02:21Nasdaq Lists Two New ProShares ETFs
06/22/201503:36:34PSE Announces Successful First Day Trading Under PSEtrade XTS
06/19/201510:45:33Nasdaq Appoints Stacie Swanstrom to Lead Global Corporate Solutions...
06/19/201509:00:03U.S. Stock Futures Edge Higher
06/18/201516:11:25Statement of Changes in Beneficial Ownership (4)
06/16/201516:04:04Statement of Changes in Beneficial Ownership (4)
06/16/201516:03:38Statement of Changes in Beneficial Ownership (4)
06/12/201508:50:06U.S. Stock Futures Fall

Nasdaq Stock Market and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad