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Showing posts with label trading. Show all posts
Showing posts with label trading. Show all posts

Friday, April 28, 2017

Shanghai Gold Exchange to launch new platform to streamline trading and delivery of gold purchases

The Shanghai Gold Exchange announced on April 28 that they are launching a new platform known as the GEMS-2 Platform which will both change the designation and access on the exchange for brokers and traders, and streamline the trading and delivery of physical gold.

The Shanghai Gold Exchange (SGE), the world’s largest physical gold exchange, is set to launch its GEMS-2 trading system on May 2nd, 2017, a measure that it said will benefit both China’s domestic gold market and the global precious metals market. 
SGE said in a circular that the launch of GEMS-2 platform will introduce the concept of Seat as the principle business unit of each member. As such, the concept of former propriety account and brokerage account will be converted to propriety seat and brokerage seat. This is in addition to splitting the former trader and brokerage codes to represent its propriety seat. 
Aimed at finding the market-wide price in the world’s No.1 gold mining and importing nation, SGE has added 3 new market orders on the basis of the former limit order: five best prices fill-or-kill orders (five best prices FOK orders), five best prices fill-and-kill orders (five best prices FAK order) and five best prices immediate-to-limit orders. - Finance Magnates

Wednesday, April 12, 2017

Did the CME ditch the London Gold Fix to instead start its own gold blockchain trading platform?

About a month ago, the CME Group along with Thompson-Reuters ended their contract early with the LBMA in which they ran the daily benchmark auctions to fix gold prices in the Western markets.  And while there has been speculation as to why they chose to summarily leave their five year contract with the LBMA two years early, there have been few evidenced reasons for their cutting ties with the daily gold fix.

Until now?

On April 12 the Chicago Mercantile Exchange (CME Group) announced they were in the final stages of testing for a new gold trading platform that will run using Blockchain technology, and will open up the buying and selling of paper (digital) gold that is reportedly backstopped using physical gold from the British Royal Mint.

Image result for digital gold tokens
Model using Digital Gold Tokens in lieu of physical gold
Pretty soon, pension funds and other institutional traders will be able to buy and sell gold using a trading platform inspired by the digital currency bitcoin. 
U.S. futures and options exchange CME Group announced on Tuesday that it is in the final stages of testing a platform for spot gold that’s based on the blockchain, the pioneering distributed-ledger technology that powers the bitcoin network.
CME built the platform in partnership with the U.K. Royal Mint, which has helped supply $1 billion in gold bullion to back transactions executed on the network, and blockchain company AlphaPoint. 
The platform isn’t expected to launch until later this year, according to news releases from the CME Group and AlphaPoint. 
Physical gold will be represented on the platform by tokens called RMGs—short for Royal Mint Gold. The platform is the first digital gold product targeted at institutional investors, and its also the first to work with a government entity, according to the releases. - Marketwatch

Tuesday, April 11, 2017

Major bond settlement house seeks to have gold trading on the blockchain by the end of the year

On April 11 one of the world's largest bond settlement facilities announced they have completed the initial phases of a gold trading platform on the blockchain that they hope to bring fully online before the end of the year.

Euroclear is one of two primary clearing houses for securities in Europe, and has acted as a major player for the U.S. Treasury as countries began dumping their dollar denominated bonds over the past five years.  And with the advent of the blockchain and its potential as a virtual platform for a myriad of financial products, Euroclear decided to use the technology as a way to bring gold trading fully onto the digital sphere.

Image result for gold if you don't hold it you don't own it
Clearing and settlement services firm Euroclear has expanded the scope of its blockchain-based gold trading platform project, eyeing a full launch for later this year. 
The company announced today that it completed the second stage of testing for its platform, developed in partnership with blockchain startup Paxos, with a group of 16 financial institutions including Citi, Scotiabank and Société Générale. More than 100,000 bullion settlement transactions were conducted over a two-day period. 
The pilot comes months after Euroclear announced the completion of the first phase, during which about 600 transactions were conducted. Euroclear first unveiled the platform in June. 
According to the firm, the successful test paves the way for a full production launch sometime in late 2017. - Coindesk

Thursday, December 22, 2016

Year end stock market boom may be tied to Trump planning to lower capital gains rate next year

Leading up to the Nov. 8 Presidential elections, most Wall Street analysts had forecasted dire consequences for the stock markets and economy should Donald Trump win the White House.  But within six hours of the media declaring him the winner, stocks surged in a historic move which one and a half months later, is now standing on the cusp of hitting Dow 20,000.

Yet what is most interesting in the way the markets have gone up nearly parabolic since the election is how little selling there has been, and this despite Janet Yellen raising interest rates and the cost of borrowing last week.  And one thought on this is that traders and investors are holding onto their gains from this rally until early next year because of the potential that Trump will get passed a new tax cut program in 2017 will have huge effects on their capital gains if and when they sell next year rather than taking profits before Dec. 31.

Image result for santa claus rally
Many investors are waiting to take any profits on the Donald Trump rally on the notion that if they wait to sell until January, they will benefit from a capital gains tax cut by the new president on their 2017 returns. 
It's a theory cited by Dan Clifton of Strategas Research Partners in a note to clients Tuesday. Many strategists, including those at Strategas, believe it's the one reason why this rally is showing no signs of slowing down into year end. 
Clifton has a great piece of advice for those waiting to sell in 2017: 
"In 2003, when Congress cut the capital gains tax, the provision was made retroactive to the first committee hearing in March. So be careful just selling on January 1st, depending on when Congress acts, the provision may not be in effect at the exact start of 2017." - CNBC
Many pension and hedge funds often spend a great deal of cash buying into stocks right at the end of the year, leading to the illusion of a 'Santa Claus' rally the media loves to tout.  However, this is mostly done to 'fill out' their books for their clients since they will have be more into stocks than cash when year end reports are sent out to their investors.

Last year the stock markets rose into the end of 2015, and this despite the Fed raising interest rates for the first time in nine years.  But once January 2 rolled around, the markets sold off for the next 17 trading days.

So if recent history is any indication, don't get too excited about this year's rally because there is a high probability that investors and traders are simply waiting until early in 2017 to take their profits on the hope that Donald Trump's expected tax cuts will come to fruition.

Friday, March 25, 2016

Too big to jail continues for bankers at Goldman Sachs and the Fed

President Obama’s legacy will include many stigmas when it comes to finance and economics, but perhaps no more so than his administrations policy of ‘too big to jail’.  Coined first by the former Attorney General Eric Holder (who was a Wall Street lawyer and went back to Wall Street at the end of his tenure), this policy has allowed banks to defraud the public for trillions of dollars over the past eight years.
And the newest farce of the justice system occurred on March 22 when a U.S. Magistrate gave a now former Goldman Sachs employee a slap on the wrist for committing fraud by receiving and passing on insider information from the Federal Reserve that was used for profit prior to its public disclosure by the central bank.

Read more on this article here...

Saturday, January 9, 2016

The global financial and economic bubble is popping

In a new interview on Jan 9. by metals analyst Dave Kranzler, the long time proponent of an economic collapse, provided insight into last week's systematic market declines all across the world, and the causalities of why the system is completely ready for central bank induced bubbles to burst.

Beginning with China on Monday trading, and following through all the way to Friday's market close, nearly all markets in Asia, Europe, and the U.S. began the year on severe downturns, with America's primary markets having their worst beginning of the year trading in the nation's history.



Thursday, November 19, 2015

Brother can you spare $106,000?

One longstanding mantra in the investment world has always been, buy on rumor, sell on news.  But thanks to social media, and a 24 hour a day business news cycle, this paradigm has gone much further than ever before, and where the media has become the platform for stock manipulation created on many levels.
We can recall a few months ago how weight watchers stock soared in the aftermath of an announcement that billionaire media mogul Oprah Winfrey had purchased a stake in the company, despite the fact that the fundamentals for the company had not changed.  And in a unique instance of speculation gone wrong this week, a short seller of a bio-tech company was suddenly crushed simply because an infamous name in the investment community stepped in to buy half the company he was shorting, and it has led to a margin call of extreme proportions.

Read more on this article here...

Tuesday, September 23, 2014

Chinese IPO becomes 11th largest company in U.S. on opening day of trading

On Sept. 19, the Chinese version of Amazon.com opened from trading on the NYSE a day after going public in a record setting IPO.  Alibaba, which was built from the ground up by former school teacher Jack Ma, quickly flew from its IPO price of $68 per share to a whopping $92.30 at the time of the opening bell.
 
Closing the day around the same price, Alibaba has a market cap of right around $230 billion, and in just one day, became the 11th largest company in the U.S., surpassing long-standing companies like Facebook, J.P. Morgan Chase, Verizon, IBM, and Coca-Cola.  Only megaliths in the corporate world now stand higher than Alibaba, with Apple at number one, and with a market cap of over $380 billion more than the Chinese juggernaut.
 
 
Read more on this article here...

Thursday, March 22, 2012

Nanex: silver manipulation at the speed of light

For years, silver traders such as Erik King of KingWorld and Eric Sprott out of Canada have been preaching to the masses on silver manipulation done by banks such as JP Morgan to assist the Fed in propping up a dead fiat currency (dollar).  Their pleas have mostly fallen on deaf ears, except to those who hold a large stake in silver, and silver prices.

That changed on March 20th when undeniable evidence emerged from NANEX of the banking cartels using high speed computer algorithms to force the price of silver down at the speed of light.  So much, so fast, that it was pumping out 75000 down trades a second.

Courtesy of Nanex we now have direct evidence of just what the reflexive market (in which derivative products such as ETFs influence underlying assets) goes to town by taking silver to the woodshed at a whopping 75,000 times per second! From the broken market sleuths at Nanex: "On March 20, 2012 at 13:22:33, the quote rate in the ETF symbol SLV sustained a rate exceeding 75,000/sec (75/ms) for 25 milliseconds. Nasdaq quotes lagged other exchanges by about 50 milliseconds. Nasdaq quotes even lagged their own trades -- a condition we have jokingly referred to as fantaseconds." Translation: so desperate was the desire to crush silver at precisely 13:22;33, that the Nasdaq order flow directive ended up moving faster than light. - Zerohedge


It gets even better when NANEX provided the charts to prove it.




Tuesday, December 27, 2011

Gold prices fall as China tightens internal trading and regulatory controls

Gold fell about $12 overnight as new regulatory controls were enacted by the Chinese government on trading of gold to the public.  It appears from the markets overreaction that they did not read into the new rules and processes, as it simply tightens audit controls, and not lessen the power to purchase the metals by citizens.

*CHINA TO INCREASE MANAGEMENT OF GOLD TRADING, PBOC SAYS
*CHINA GOLD TRADING RESTRICTED TO SHANGHAI EXCHANGES, PBOC SAYS
*CHINA ORDERS UNAUTHORIZED GOLD TRADING PLATFORMS TO STOP: PBOC
*PBOC ASKS SHANGHAI GOLD, FUTURES EXCHANGES TO BOOST MANAGEMENT

Like most news, the gold markets should settle back after the realization that trading isn't going to be limited, just carefully regulated a bit more in the Asain sphere.

Tuesday, September 13, 2011

The clothes have no markets

Watch and learn the truth of the stock markets my brothers and sisters, for the last two days of trading have proven one thing...

The desperation to hold the line is thick with fear.

On Monday, the markets were looking to close in the red when SUDDENLY, a rumor (that was later deemed false), said that China was coming to save the day and bail out Greece (Euro).

Well, it is the final hour of trading today, and LO AND BEHOLD, a rumor begins that Russia and Brazil are joining in to help save Europe.

Funny, because this rumor came almost immediately after a Brazillian Finance Minister said this:
"Euro is less important in Brazil international reserves", and "Brazil seeks reserve currencies with solid fiscal positions",
oops.... well, it appears once again that trying to sell investors on fundamentals is worthless, and they are left with dropping rumors to save a market ready to head to the downside.