Indiana Grain Company, LLC

CME Group Volume Averaged 9.9 Million Contracts per Day in October 2012

Sat, 10 Nov 2012 23:16:00 CST

CME Group has announced that October 2012 volume averaged 9.9 million contracts per day, down 20 percent from October 2011. Total volume for October 2012 was more than 227 million contracts, of which 87 percent was traded electronically. In coordination with other financial markets, some CME Group contract markets were closed, either partially or entirely, on October 29 and 30. Excluding those two days, October average daily volume would have been approximately 10.4 million contracts. In October 2012, CME Group interest rate volume averaged 4.0 million contracts per day, down 16 percent from October 2011. Treasury futures volume averaged 1.7 million contracts per day, down 23 percent compared with the same period a year ago. Treasury options volume averaged 355,000 contracts per day, up 22 percent from October 2011. Eurodollar futures volume averaged 1.6 million contracts per day, down 5 percent from October 2011. Eurodollar options volume averaged 417,000 contracts per day, down 34 percent from October last year. CME Group equity index volume in October 2012 averaged 2.3 million contracts per day, down 34 percent from the same period last year. CME Group foreign exchange (FX) volume averaged 709,000 contracts per day, down 23 percent from October 2011. CME Group energy volume averaged 1.6 million contracts per day in October 2012, down 14 percent compared with the same period in 2011. CME Group ls volume averaged 275,000 contracts per day, down 9 percent from the same period last year. CME Group agricultural commodities volume in October 2012 averaged 973,000 contracts per day, down 9 percent compared with the prior-year period. Electronic volume averaged 8.6 million contracts per day in October 2012, down 19 percent compared with October 2011. Privately negotiated volume decreased 11 percent to 188,000 contracts per day from the prior October. Average daily volume cleared through CME ClearPort was 335,000 contracts in October 2012, down 32 percent compared with October 2011. Open outcry volume averaged 798,000 contracts per day, down 34 percent versus the prior-year period.

Mobile Ad Networks Challenged by Airpush to Raise The Bar

Sat, 10 Nov 2012 23:13:00 CST

According to the latest data and corresponding projections from the International Data Corporation, the mobile advertising industry could be valued at close to $15 billion by 2016. But the industry's largest and most successful mobile ad networks could face a significant challenge next year -- a challenge that, in turn, will all but certainly lead to a massive upheaval in the industry's biggest players by the time 2016 finally does arrive. "Some of today's premiere mobile ad networks have grown lax and unresponsive to key challenges facing the industry at large," independent business analyst and mobile advertising expert Mike Randazzo recently told Business Insider. "How these ad networks address message relevance and security will separate many of the survivors from the sinkers by this time next year." Thanks in no small part to the dramatically escalating threat of mobile-bound malware and excessive, overly-aggressive mobile ad campaigns, today's leading mobile ad networks could be wiped out unless new practices, guidelines, and technologies are cultivated. "Flurry, InMobi, Jumptap, Millennial Media, and other leading names will still be here in a year," Randazzo concedes, "but they may not be the 'ones to watch' anymore." Instead, he proposes, the ad networks that have stepped up their games in 2012 could be poised to leapfrog today's top players on the backs of their own innovation and, more importantly, responsible actions. "Airpush is definitely going to continue surprising the mobile ad community," Randazzo estimates. Why? "Airpush is proactively addressing mobile security, targeted ads, ad format diversity, and messaging relevance. These are priorities for Airpush. They seem to be merely ancillary concerns for a lot of other ad networks, companies we may not remember in five years." After being named the �Best Mobile Ad Network� of 2012 at October's presentation of the annual Mobile Excellence Awards, Airpush lent more credence to Randazzo's claims when the company confirmed on Thursday a new partnership with Appthority, a leading force in mobile app security. "By integrating Appthority's technology directly into its platform," a representative for Airpush tells Business Insider in an exclusive interview, Airpush has "virtually eliminated" the threat of mobile malware distribution through its network - a bustling network of well over 50,000 applications and counting. Not surprisingly, says Randazzo, Airpush's initiative to bolster mobile app security is being met with the same positive reception observed when the Android ad network rolled out its new SDK 5.0 in August - an offering designed to coincide with the freshly revamped Google Developer Policy. "So we're all looking to the forward-thinking, responsible actions of ad networks like Airpush and others that are trying to get ahead of tomorrow's biggest problems today," Randazzo concludes. "The industry is changing so fast that some have grown perilously complacent enough to believe they will always remain the biggest players in the game. I think mobile advertising is due for a good cleansing in terms of the ad networks we presently hold in the highest regard. The most recognizable names aren't necessarily the best any longer. We're seeing too much information to the contrary."

CME's Duffy Comments on Change After MF Global Debacle

Thu, 01 Nov 2012 22:05:00 CDT

One year after a debacle that we at Indiana Grain and others won't soon forget, Terrence A. Duffy, the executive chairman and president of CME Group, has issued a statement on "how far we've come" just twelve months after the MF Global meltdown rocked the financial world as we knew it. The statement reads as follows: For more than 160 years, no customer had ever lost a penny as the result of default by a futures industry clearing member. MF Global�s failure last October, followed by fraud at PFGBest nine months later, shattered this uninterrupted legacy of trust in our industry. It was a sharp wake-up call for those of us (in both the private and public sectors) whose most important job is to keep our markets safe and secure. Prior to these events, we operated under the unchallenged assumption that firms would not break rules and regulations to misuse customer funds. The segregation of customer funds had been sacrosanct since the 1800s. One transgression would have been unacceptable, and yet in the last year we saw this happen twice. Our market participants need, expect and deserve a marketplace they can rely on for price discovery and risk management across all asset classes. Restoring confidence and protecting customers when using our markets are essential. Our collective marketplace is too important to the fabric of the world economy to allow these issues to fester. That is why our industry took decisive action. We are demanding even more transparency and more accountability. As a result, a year later we are a better industry and our customers are safer than before. New Requirements Enhance Safety CME Group worked with the National Futures Association, the Commodities Futures Trading Commission and others to adopt and employ several new requirements designed to deter misuse of any customer funds � futures or cleared over-the-counter derivatives. Among other things, the requirements include: Stepped-up surprise reviews of customer segregated funds that have led to nearly 50 �spot reviews� since May 1. Daily segregation reporting by all futures commission merchants since May 1, resulting in over 10,000 daily customer computations to date at CME alone. More than 500 submissions since July 1 detailing how each firm is investing its segregated customer funds. The �Corzine rule� which holds CEOs and CFOs accountable for disbursements of more than 25% of excess segregated funds held at the firm level. Electronic account balance confirmations and, still to come, new rules providing CME and NFA direct, real-time online access to firms� customer segregated fund balances at any time. The bankruptcy process of returning customer property can never move fast enough for those who, through no fault of their own, are unable to operate their businesses. But, progress has been made. As an industry leader and provider of the broadest range of benchmark futures and options contracts, CME Group guaranteed $550 million to the MF Global trustee. This helped to accelerate the distribution of customer funds in the early days of the bankruptcy. CME Trust has pledged $50 million of its assets to cover our customers� losses that remain after the Trustee�s distribution process is completed. In addition, we created a $100 million fund to provide further protection for U.S. family farmers, family ranchers and their cooperatives that hedge their business in our futures markets. This is particularly important since our nation�s food producers were so hard hit by the failures. And, next month, CME Group will begin the process of paying over $2 million in benefits to nearly 200 farmers, ranchers and cooperatives that used CME Group markets and suffered losses in the failure of PFG. More Improvements to Come This week, during an anniversary none of us ever wished for, almost 4,000 futures industry participants will gather in Chicago for one of the industry�s important annual conferences. We will continue to work together as an industry to learn from the past year. But the more important work is forward-looking. Regulators and the industry must carefully weigh the benefits of even the most far-reaching proposals that could enhance protection for customers� segregated funds... and we will.

Airpush Achieves Mobile Ad Market Supremacy

Thu, 01 Nov 2012 22:00:00 CDT

Airpush continues to make enormous strides as the mobile ad network to watch this year... and next. Capping a recent string of milestones for the Android ad network - milestones that include becoming the 2nd largest Android ad network in the world, issuing a record amount of developer payouts for a single month, and releasing a widely-praised new SDK - Airpush has now taken top honors in its industry. Last week, The Mobile Excellence Awards program recognized Airpush as the best mobile ad network, saying Airpush has done more than other leading ad networks to shape, influence, and drive growth in its industry for 2012. A number of developers IGC works with have weighed in on Airpush and similarly praise the company, chiefly in response to the creation of SmartWall, Airpush's new mobile ad format that is leading to new and heightened monetization opportunities greater than what most had anticipated. "I get $6-$8 CPM with Airpush SmartWall," says Brian Terigin, a developer from Chicago who has also created some of the best mobile websites for small tech companies in and around Chicago. Terigin seems to be one of many aboard the Airpush train lately. And the ad network couldn't possibly appear more excited about its future growth potential as a result. �Throughout 2012 we have seen the results of these efforts pay off in terms of dramatic growth of our network, huge payout increases for our developers and consistently increasing ROI for our advertisers,� said Asher Delug, CEO of Airpush, following his company's receipt of the high honor. �This award is yet another recognition of our work and a validation that the innovation we are bringing to the industry is helping advertisers and developers around the world to reach and exceed their business goals.�

NYSE Euronext receives the final report of the Strategic Planning Committee

Thu, 01 Nov 2012 21:23:00 CDT

NYSE Euronext welcomes the final report of the Strategic Planning Committee (SPC) presented to it today. This is a significant accomplishment following six months of meetings between 11 independent members of the Strategic Planning Committee and a three month consultation period with issuers, associations, investors, listing advisors and other market participants from across Europe. The Entrepreneurial Exchange is an ambitious and innovative project involving a wide range of financial market participants. Dominique Cerutti, President and Deputy Chief Executive Officer of NYSE Euronext, said: �We are very pleased to have been the originator of the SPC and we will now take the time needed to analyze the report and propose suitable solutions working with all the actors of our financial market places. Our aim is to communicate our proposed pan-European strategy within the coming weeks.� Source: NYSE Euronext

Where Are Hedge Funds Going with Commodities

Mon, 08 Oct 2012 02:31:00 CDT

According to the latest industry statistics, Hedge funds increased bullish bets on commodities for the first time in three weeks. Why? If you haven't been paying attention, prices had dropped to a two-month low on signs of slowing Chinese growth and rising supplies of everything from crude oil to coffee. "Money managers raised net-long positions across 18 U.S. futures and options by 0.2 percent to 1.24 million contracts in the week ended Oct. 2," Commodity Futures Trading Commission data show. "They fell 6.6 percent in the previous two weeks. Silver wagers climbed to the highest in almost two years while bullish oil bets fell to a seven-week low. Gold holdings rose for a seventh week before prices reached an 11-month high." Commodities have backed off to the tune of 4 percent since the Federal Reserve announced a third round of debt buying Sept. 13. �It�s harder to put money on the table right now in commodities,� David Goerz, the chief investment officer at Highmark Capital Management Inc., tells Businessweek. �Commodities are increasingly focused on what�s happening in the fundamental economy, and China is a very big part of that. Overall, the real issue is whether the economy is able to strengthen.�

AAPL Doesn't Rebound After Tim Cook Letter

Fri, 28 Sep 2012 19:15:00 CDT

Shares of Apple failed to bounce as the week ended amidst an open apology and pledge from Apple CEO Tim Cook to improve upon the less than impressive new maps service Apple introduced last week with the launch of iOS 6. "At Apple," Cook said in an open letter today, "we strive to make world-class products that deliver the best experience possible to our customers. With the launch of our new Maps last week, we fell short on this commitment. We are extremely sorry for the frustration this has caused our customers and we are doing everything we can to make Maps better." "We launched Maps initially with the first version of iOS," he added. "As time progressed, we wanted to provide our customers with even better Maps including features such as turn-by-turn directions, voice integration, Flyover and vector-based maps. In order to do this, we had to create a new version of Maps from the ground up." "While we're improving Maps, you can try alternatives by downloading map apps from the App Store like Bing, MapQuest and Waze, or use Google or Nokia maps by going to their websites and creating an icon on your home screen to their web app," Cook concluded. "Everything we do at Apple is aimed at making our products the best in the world. We know that you expect that from us, and we will keep working non-stop until Maps lives up to the same incredibly high standard." AAPL closed Friday down $14 at $667.10.

Mobile Ad Network Airpush Raising The Industry's Bar

Fri, 28 Sep 2012 19:09:00 CDT

Mobile ad network Airpush is attracting far reaching praise in response to the uncommonly strong earnings developers and mobile advertisers are seeing with the new Airpush SDK 5.0. In the days that followed the late August release of the SDK, the first wave of user results came in. And they were the most impressive the industry has seen this year. The typical click through rates for advertisers range from 15% to 20% while developers are enjoying CPMs averaging close to $10 if not substantially higher in some cases. "Airpush has effectively raised the bar on expectations of mobile ad networks and their tools for our community," says Android Dever Howard Shier. "The new Aiprush SDK - and the SmartWall ad format in particular - are the most profitable and sophisticated I've ever used. These are the type of innovational reources that more mobile ad networks should develop but either can't or simply don't." According to Airpush, the flagship feature of SDK 5.0 is SmartWall, a new interstitial mobile ad format which "dynamically optimizes between multiple sub-formats such as Rich Media, AppWall, Video and Interstitials." With SmartWall, Airpush says, app developers no longer need to choose between the overwhelming numbers of full-page mobile ad formats available on the market. Via a single SDK, SmartWall determines the optimal full-page ad format to display in real-time based on yield, network connection type, and other parameters. Earlier this month, Airpush posted new developer payout numbers, which confirm that more that $2 million was paid to its developers during July 2012. At the time, Airpush said this payout represented the largest and most productive month yet for the mobile ad network. To tackle the issue of device fragmentation in the Android ecosystem, the new SDK also includes deep integration with Bugsense, an industry-leading platform for app monitoring and crash analytics. Now the second largest Android mobile ad network in the world, Airpush is making it clear that SDK 5.0 was planned to coincide with the recently revised Google Developer Policy, as well as guidelines published by mobile security company Lookout. To learn more about Airpush and the SDK everyone is discussing, click here.

CME Group Says MSRI Prize in Innovative Quantitative Applications Awarded to Robert Shiller

Fri, 28 Sep 2012 18:23:00 CDT

CME Group and the Mathematical Sciences Research Institute (MSRI) announced today economist Robert Shiller is the 2012 recipient of the CME Group-MSRI Prize in Innovative Quantitative Applications. He will be honored at an award ceremony at W Chicago-City Center on Friday, October 12, at 10:30 a.m. U.S. Rep. Barney Frank (D-Mass.) and Keith Hennessey, former National Economic Council director, will debate the topic: "The U.S. Housing and Financial Crisis: Aftermath & Afterthoughts" prior to the award ceremony. The seventh annual CME Group-MSRI Prize recognizes individuals who contribute original concepts in mathematical, statistical or computational methods for the study of the markets' behavior and global economics. "I am honored to be recognized by CME Group and MSRI for my work in the field of mathematical sciences and am thrilled both organizations see the impact quantitative research has on shaping global financial markets," Shiller said. "Dr. Shiller's impact on financial services and economics is unparalleled," said Leo Melamed, CME Group Chairman Emeritus and Prize Selection Committee member. "The Standard & Poor's/Case Shiller Home Price Indices are critical to global economy. We are proud to add him to the distinguished list of recipients of the CME Group-MSRI Prize in Innovative Quantitative Applications." "Professor Shiller's research has advanced the application of mathematical sciences toward understanding problems in the real world with rigor and innovative thinking that has been prescient in its grasp of the housing market bubble," said Robert Bryant, Director of MSRI and Prize Selection Committee member. "MSRI is proud to be collaborating with CME Group in recognizing Professor Shiller's fundamental contributions to financial economics and the international influence of his analysis of market behavior."

CME Group Creating an Exchange in the United Kingdom

Wed, 22 Aug 2012 21:57:00 CDT

CME Group announced this week it is in the process of applying to the United Kingdom's Financial Services Authority (FSA) to create a London-based derivatives exchange. Pending regulatory approval as a Recognized Investment Exchange, CME Europe Ltd will initially begin trading foreign exchange futures products and is expected to launch mid-2013. "We continue to see an increase in business coming from our diverse set of customers in Europe, with more than 20 percent of our volume now originating from the region," said CME Group Executive Chairman and President Terry Duffy. "Having an exchange in London that can leverage the central counterparty model of CME Clearing Europe will allow us to align ourselves even more closely with our regional customers in both listed futures and over-the-counter markets, and provide additional opportunities to our expanding non-U.S. customer base." "Our application to establish an exchange in Europe fits within our strategy to grow organically and is an important next step to meet the growing regional demand from our customers," said CME Group Chief Executive Officer Phupinder Gill. "Launching with a suite of FX products allows us to leverage our 40 years of experience in FX futures for customers in the region who access the futures market during the London business day, but we also plan to look at expanding into additional asset classes." Robert Ray, currently Managing Director, Products and Services, will become Chief Executive Officer of CME Europe. CME Globex will be used as the electronic trading platform and CME Clearing Europe Ltd, which launched in May 2011, will provide central counterparty clearing services.