By REINHARDT KRAUSE
Brokerages that execute internal trades and so called "dark pools" —
off-exchange venues favored by institutional investors — are driving the
explosion in U.S. stock trading away from...
By Michael Kitchen
LOS ANGELES (MarketWatch) -- The Securities & Exchange Commission has
launched an investigation into communications between some stock exchanges
and high-frequency trading firms, looking for any collusion to...
By Jean Eaglesham, Jenny Strasburg and Scott Patterson
U.S. securities regulators are conducting a wide-ranging investigation into
the complex relationships between rapid-fire trading firms and stock
exchanges, according to the official...
By Silla Brush,
The U.S. Commodity Futures Trading Commission may seek comment before July
on ways to test and supervise automated and high-frequency trading systems,
said Gary Gensler, the agency's chairman.
By Carla Main,
Britain's Serious Fraud Office, which prosecutes corporate bribery, uses
too many secret settlements in foreign corruption cases, the Organization
for Economic Cooperation and Development said.
The SFO is using...
Opening Statement of Commissioner Bart Chilton to the CFTC Technology
Advisory Committee, Washington, DC
Thanks to Commissioner O'Malia for his leadership of the Technology
Advisory Committee (TAC). He and his staff...
The debate over high-frequency trading continues to rumble on, but one
European broker-dealer believes that opinions are changing and the region’s
politicians will now face a tougher task in introducing...
UNCTAD TO PARTICIPATE IN GENERAL ASSEMBLY DEBATE ON PRICE VOLATILITY OF COMMODITIES
Representing the Secretary-General of UNCTAD, Mr. Heiner Flassbeck, will offer substantive views on the role of financial investment in commodity markets, drawing on the organization's recent findings about the potentially price-distorting effects of speculative financial flows.?
UNCTAD has researched extensively the recent pronounced shifts in the prices of staple foods and other commodities. The 2011 Trade and Development report devoted a chapter to analyzing the price-distorting effects of large-scale speculative financial flows into commodities futures markets. The findings have indicated that these flows have the tendency to drive commodity prices away from the level warranted by economic fundamentals, undermining market efficiency.
Heiner Flassbeck, the principal author of the Report and Director of UNCTAD's Division on Globalization and Development Strategies, will represent the UNCTAD Secretary-General at an 11 April high-level debate, to be held at the United Nations General Assembly in New York. The debate under the theme "Addressing excessive price volatility in food and related financial and commodity markets" is convened by the President of the General Assembly.
Current research by UNCTAD economists focusing on the impact of "high-frequency" trading in commodities has been widely reported recently in financial and online media. Meanwhile, UNCTAD is contributing to a joint report with the International Monetary Fund and the World Bank at the invitation of the Group of 20, focusing on the macroeconomic effects of excessive commodity price volatility on economic growth and on the well-being of vulnerable populations.
The resolution calling for the high-level debate at the General Assembly comes at the initiative of Leonel Fernández Reyna, President of the Dominican Republic. In his remarks to the General Assembly in September 2011, and in a special event hosted by the Permanent Mission of the Dominican Republic, President Fernández drew attention to the effects on the poor of sharply rising prices for staple foods and other commodities. He observed that the vast majority of the world's poor live in developing countries that are dependent on food imports to meet basic needs. Among other effects, he noted that the rapid increase in food prices had caused the number of persons suffering from hunger worldwide to exceed 1 billion.?
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