CHICAGO, March 7 (Reuters) – Syngenta AG will
require U.S. farmers who plant a new and controversial type of
genetically modified corn this spring to pledge in writing not
to ship it China or the European Union, a trade association said
The mandate is the latest step by the world’s largest crop
chemicals company to calm concerns among global grain exporters
about corn seed containing the Agrisure Duracade trait, which is
available for planting for the first time this year.
CHICAGO (Reuters) – The U.S. Securities and Exchange Commission has launched an inquiry into whether high-speed trader Infinium Capital Management violated federal securities laws, according to a SEC letter obtained by Reuters.
The SEC has sought documents and recordings related to a lawsuit that former Infinium employees brought against the Chicago-based firm in January, the February 27 letter said.
CHICAGO (Reuters) – High-speed trader Infinium Capital Management, which has struggled financially, has stopped trading and is working to wind down the company, President Mark Palchak told Reuters on Thursday.
The closure of Chicago-based Infinium reflects pressures on high-speed trading firms stemming from increased competition and regulatory oversight, low interest rates that have hurt volume and volatility, and the uncertain global economic recovery.
CHICAGO (Reuters) – High-speed trader Infinium Capital Management has stopped trading and is working to wind down the company after struggling with financial problems, President Mark Palchak told Reuters on Thursday.
The closure of Infinium, which was founded in 2003, reflects pressures on high-speed trading firms stemming from increased competition and regulatory oversight, low interest rates that have hurt volume and volatility, and the uncertain global economic recovery.
CHICAGO, March 5 (Reuters) – CBOE Holdings Inc,
which was fined $6 million last year for failing to properly
police its own marketplace, will implement tighter rules for
traders to help prevent fraud, according to a regulatory filing
The changes align CBOE rules with other exchanges and are
not linked to the fine imposed by the U.S. Securities and
Exchange Commission last year, CBOE spokeswoman Gail Osten said.
In an email, she said the exchange operator “did it to make
supervision and control more effective.”
CHICAGO, March 3 (Reuters) – Bunge Ltd and Archer
Daniels Midland Co, two of the world’s top agricultural
trading houses, on Monday said political tensions in Ukraine, a
major grain exporter, were not affecting operations but that
they were monitoring the unrest.
“We have not seen any significant impact to business and
continue to monitor the situation,” ADM said in a statement.
CHICAGO, Feb 26 (Reuters) – Options Clearing Corp is
significantly increasing its headcount and working capital
levels to help satisfy regulatory scrutiny tied to its
designation as a critical part of the U.S. financial market
infrastructure, the company’s new executive chairman said on
The world’s largest clearing organization for options is
“absolutely 100 percent oriented toward working through the
regulatory changes that are upon us,” said Craig Donohue, a
former CME Group Inc chief executive who took over as
Options Clearing’s chairman on Jan. 1.
CHICAGO, Feb 24 (Reuters) – CME Group Inc, the
largest U.S. futures exchange operator, on Monday announced
fines against nine traders and clearing members for violating
rules governing a type of transaction that U.S. regulators
expressed concerns about last year.
CME, owner of the Chicago Mercantile Exchange and New York
Mercantile Exchange and others, took action against a range of
market participants for trades involving Exchange for Related
Position transactions, or EFRPs.
CHICAGO, Feb 21 (Reuters) – Archer Daniels Midland Co
, one of the world’s top grain traders, said on Friday it
will not accept crops containing a new genetically modified
Syngenta AG corn trait until major importers approve
ADM said it will not take any commodity with Syngenta’s
Agrisure Duracade trait for domestic processing or export,
joining rivals Cargill Inc and Bunge Ltd which
have signaled they will limit their handling of the product.
CHICAGO, Feb 14 (Reuters) – Cargill Inc, the top
exporter of U.S. grain and oilseeds, on Friday said it will
reject crops containing a new genetically modified Syngenta AG
corn trait that are delivered to its grain elevators
for export contracts.
Corn seeds containing Syngenta’s Agrisure Duracade trait are
available for planting in the United States for the first time
this year after U.S. authorities cleared the trait in 2013. The
trait has not been approved for import by China or the European
Union, both major buyers of U.S. crops.