http://www.placingtraders.com/news/rss Thu, 02 Feb 2012 16:10:00 GMT Sailing Networks full news feed http://www.placingtraders.com/news/read/521133 Washington, DC – The Commodity Futures Trading Commission and the Securities and Exchange Commission delivered to Congress a report on international swap regulation, as required by Section 719(c) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The provision requires the Commissions to report on how swaps are regulated in the United States, Asia, and Europe and to identify areas of regulation that are similar and other areas of regulation that could be harmonized. Thu, 02 Feb 2012 16:10:00 GMT http://www.placingtraders.com/news/read/521133 http://www.placingtraders.com/news/read/521129 ATLANTA, Feb. 2, 2012 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, reported a 6% decline in futures volume and improved revenue capture for January 2012. ICE's average daily volume (ADV) was 1.49 million contracts compared to 1.58 million contracts in the prior January. Total futures volume in January 2012 was 29.8 million contracts. (Logo: http://photos.prnewswire.com/prnh/20090727/CL51999LOGO ) January 2012 Review ICE Futures Europe records: Monthly volume and ADV records were established for ICE Heating Oil futures, ICE Dutch TTF Gas futures and ICE Brent options. ICE Natural Gas futures set a monthly ADV record of 35,756 contracts. ICE Brent Crude futures reached a record open interest level of 1,010,088 contracts on January 27. Open interest records were also established for ICE Low Sulphur Gasoil futures, ICE Coal Rotterdam futures and options and European natural gas futures and options contracts. The Securities and Exchange Commission (SEC) approved and Commodity Futures Trading Commission (CFTC) certified portfolio margining benefits for clearing participants' proprietary positions at ICE Clear Credit. ICE Futures Canada announced the successful introduction of its new milling wheat futures contract. Open interest in CCFE's contracts began transitioning to ICE's OTC... Thu, 02 Feb 2012 13:40:00 GMT http://www.placingtraders.com/news/read/521129 http://www.placingtraders.com/news/read/521125 - Reached annual average daily volume records in foreign exchange, agricultural commodities, energy and metals product lines - Raised regular quarterly dividend to $2.23 per share, an increase of 59 percent, and declared an additional dividend of $3.00 per share CHICAGO, Feb. 2, 2012 /PRNewswire/ -- CME Group Inc. (NASDAQ: CME) today reported full-year 2011 results, primarily driven by a 10 percent increase in overall average daily volume. During the year, the company posted annual average daily volume records across the foreign exchange, agricultural commodities, energy and metals product lines. Reflecting CME Group's strong cash flow, and consistent with our capital structure guiding principles, CME Group's board of directors raised the first-quarter regular dividend 59 percent, to $2.23 per share, based on a change to our dividend policy, increasing our payout target from 35 percent to 50 percent of prior year's cash earnings. Furthermore, the company declared an additional, annual variable dividend, amounting to $3.00 per share in 2012. Going forward, this dividend will be considered in the first quarter of each year and will supplement the regular dividend. The amount of the annual variable dividend will be determined after the end of each year, and the level will increase... Thu, 02 Feb 2012 12:07:00 GMT http://www.placingtraders.com/news/read/521125 http://www.placingtraders.com/news/read/521121 Rio Tinto will increase its stake in Richards Bay Minerals (RBM) to 74 per cent through the acquisition of BHP Billiton’s 37 per cent interest. The acquisition has been triggered by BHP Billiton’s decision to exercise a put option agreed between Rio Tinto and BHP Billiton as part of RBM’s restructuring in 2009. The final consideration for the acquisition will be determined through a previously agreed valuation process. Completion is subject to regulatory approvals. RBM is a South African mineral sands mining and processing operation that was established in 1976. Rio Tinto manages RBM and markets its products, including titanium dioxide feedstocks, high purity iron, zircon and rutile. In line with South Africa’s Broad-Based Black Economic Empowerment legislation, the remaining 26 per cent of RBM is owned by a consortium of local communities and businesses (24 per cent) and RBM employees (two per cent). Rio Tinto Diamonds & Minerals chief executive Harry Kenyon-Slaney said “RBM is an important part of Rio Tinto’s world-class titanium dioxide portfolio. Doubling our stake in the business solidifies our position at a time when the long-term outlook is strong and demand for higher grade titanium dioxide is growing, driven by urbanisation and rising environmental standards.”... Wed, 01 Feb 2012 07:26:00 GMT http://www.placingtraders.com/news/read/521121 http://www.placingtraders.com/news/read/521117 HOUSTON, Feb. 1, 2012 /PRNewswire/ -- Apache Corporation (NYSE and Nasdaq: APA) today announced that its Apache Energy Limited subsidiary has completed previously announced plans to acquire an interest in Burrup Holdings Limited, owner of an ammonia fertilizer plant in the Burrup Peninsula region of Western Australia, from ANZ Bank. Apache paid $439 million, including customary closing adjustments, to acquire a 49-percent interest in Burrup Holdings Limited. Yara International ASA paid ANZ Bank $143 million, including adjustments, to increase its ownership in Burrup Holdings to 51 percent from 35 percent. Yara will become operator after a transition to ensure continued safe operation of the plant. Apache has supplied natural gas to Burrup Fertilisers since the plant commenced production in 2006. With a capacity of 850,000 metric tons annually, the plant is one of the world's largest ammonia facilities, producing 6 percent of the total world output of tradable ammonia. The plant will be renamed Yara Pilbara. "This new ownership structure will stabilize the Burrup project after a period of significant uncertainty, and secure a long-term economically viable market for our natural gas production in Western Australia," said Thomas M. Maher, vice president of Apache's Australia Region and managing director of... Wed, 01 Feb 2012 07:25:00 GMT http://www.placingtraders.com/news/read/521117 http://www.placingtraders.com/news/read/521113 Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) issued a Consumer Advisory warning the public to beware of promises of easy profits to be made from rising prices in gold, silver, platinum, palladium, and other precious metals. The Advisory also recommends that the public be alert to companies that sell investments in precious metals based on sales pitches claiming that a person can make a lot of money, with little risk, by purchasing metals through a financing agreement. The Advisory describes how some precious metals companies may use fraudulent tactics to induce customers to invest. According to the CFTC’s Advisory, precious metals companies, often calling themselves “metals dealers” or “merchants,” usually advertise on the radio, television, or Internet websites. The Advisory explains that these precious metals firms typically solicit personal information such as the consumer’s name, phone number, and home address. According to the Advisory, a broker or salesman from the precious metals company then calls the consumer directly to promote the precious metals purchase, often promising quick riches, such as the ability to double or triple the consumer’s initial investment within a few months with little or no risk. The CFTC’s Advisory explains that investments with precious... Tue, 31 Jan 2012 19:55:00 GMT http://www.placingtraders.com/news/read/521113 http://www.placingtraders.com/news/read/521089 CFTC did not find any material breaches of customer funds protection requirements during the spot check Washington, DC – The Commodity Futures Trading Commission (CFTC or Commission) today released findings of limited reviews of futures commission merchants (FCMs) to assess compliance with requirements to segregate customer funds pursuant to Section 4d of the Commodity Exchange Act (ACT). The limited reviews also covered the FCMs’ obligation to set aside in secured accounts funds deposited by customers for trading on foreign boards of trade under Section 4(b) of the Act and Part 30 of the Commission’s regulations. As of the review date for each FCM, all of the FCMs were in compliance with the segregation or Part 30 secured amount requirements. Last fall, after the collapse of MF Global, Inc., the Commission initiated a coordinated review with the CME and NFA of all FCMs that carried customer funds to assess compliance with the protection of customer funds and Commission regulations. There were 120 FCMs registered with the Commission as of October 31, 2011. Seventy of the FCMs held Section 4d segregated funds or Part 30 secured amount funds, and were subject to the limited reviews. The remaining 50 FCMs did not carry... Thu, 26 Jan 2012 14:30:00 GMT http://www.placingtraders.com/news/read/521089 http://www.placingtraders.com/news/read/521085 • Copper cathode production in line with guidance - Total cathode production of 301 kt for the full year - Production from own concentrate of 299 kt - Increase in ore volumes partly offset anticipated decline in copper grade • By-product output remained robust - Silver output ahead of guidance at 13 moz - Total gold production of 151 koz, ahead of target * By-product gold production of 118 koz, benefiting from higher ore volumes - Zinc output of 140 kt, impacted by lower output in the fourth quarter • Kazakhmys Power continued to benefit from strong demand - Power generation increased by 15% from prior year at Ekibastuz GRES-1 - Ekibastuz GRES-1 average realised tariff increased 20% from 2010 Oleg Novachuk, Chief Executive Officer, said: “For the fourth consecutive year we have met all our major production targets and I should like to thank my colleagues for their hard work and commitment on this achievement. We anticipate maintaining similar levels of copper output in 2012 and our sales contracts for the coming year have all been completed, reflecting continued strong demand for copper. I look forward to updating the market on our current operations and the progress being made... Thu, 26 Jan 2012 14:28:00 GMT http://www.placingtraders.com/news/read/521085 http://www.placingtraders.com/news/read/521081 · Net income attributable to common stock for fourth-quarter 2011 was $640 million, $0.67 per share, compared with net income of $1.5 billion, $1.63 per share, for fourth-quarter 2010. Net income attributable to common stock for the year 2011 was $4.6 billion, $4.78 per share, compared with $4.3 billion, $4.57 per share, for the year 2010. · Consolidated sales from mines for fourth-quarter 2011 totaled 823 million pounds of copper, 133 thousand ounces of gold and 19 million pounds of molybdenum, compared with 941 million pounds of copper, 590 thousand ounces of gold and 17 million pounds of molybdenum for fourth-quarter 2010. Consolidated sales for the year 2011 totaled 3.7 billion pounds of copper, 1.4 million ounces of gold and 79 million pounds of molybdenum, compared with 3.9 billion pounds of copper, 1.9 million ounces of gold and 67 million pounds of molybdenum for the year 2010. · Consolidated sales from mines for the year 2012 are expected to approximate 3.8 billion pounds of copper, 1.2 million ounces of gold and 80 million pounds of molybdenum, including 875 million pounds of copper, 425 thousand ounces of gold and 20 million pounds of molybdenum for first-quarter 2012. · Consolidated unit net... Thu, 19 Jan 2012 17:15:00 GMT http://www.placingtraders.com/news/read/521081 http://www.placingtraders.com/news/read/521077 Citigroup Inc. (NYSE: C) Citigroup Reports Fourth Quarter 2011 Net Income of $1.2 Billion or $0.38 per Share, Compared to $1.3 Billion or $0.43 in Fourth Quarter 2010 Fourth Quarter Revenues of $17.2 Billion Down 7% from the Prior Year Period Fourth Quarter Net Credit Losses Declined 40% from the Prior Year Period to $4.1 Billion Full Year 2011 Net Income of $11.3 Billion Up 6% from $10.6 Billion in 2010 Full Year 2011 Revenues of $78.4 Billion Compared to $86.6 Billion in 2010 Driven by $6.4 Billion Decline in Citi Holdings Revenues Citicorp Loans of $465.4 Billion Grew 14% versus Prior Year Citi Holdings Loans of $181.8 Billion Declined 25% versus Prior Year Full Year 2011 Net Credit Losses of $20.0 Billion Compared to $30.9 Billion in 2010 Loan Loss Reserve Release of $1.5 Billion in Fourth Quarter, Down 35% from the Prior Year Period Tier 1 Common of $115.1 Billion, Tier 1 Common Ratio Increased to 11.8% Year-Over-Year, Book Value per Share Up 8% to $60.78, Tangible Book Value Per Share Up 12% to $49.81 New York, January 17, 2012 - Citigroup Inc. today reported net income of $1.2 billion, or $0.38 per diluted share, for the fourth... Tue, 17 Jan 2012 13:34:00 GMT http://www.placingtraders.com/news/read/521077 http://www.placingtraders.com/news/read/521069 Chief executive Tom Albanese said “This was another record-breaking year in the Pilbara with both quarterly and full year iron ore production and shipments beating previous achievements, as our expansion programme continues apace. Across the Group, production has bounced back from the severe weather conditions experienced in the first half which had the biggest impact on Australian iron ore, coal and uranium.” • Record global iron ore shipments of 239 million tonnes in 2011 were below production due to extreme weather conditions experienced in the first half of the year. Despite this, Rio Tinto’s Pilbara ports operated at above annualised capacity rates and shipped record volumes of 61 million tonnes in the fourth quarter and 225 million tonnes for the full year. • Record global iron ore production of 65 million tonnes was achieved in the quarter (51 million tonnes attributable) and 245 million tonnes for the full year (192 million tonnes attributable). • Lower grades at Escondida and Kennecott Utah Copper impacted mined copper throughout most of 2011, driving production down 23 per cent year on year, in line with guidance. • Full year bauxite production was seven per cent higher than 2010. Aluminium was one per cent higher... Tue, 17 Jan 2012 08:17:00 GMT http://www.placingtraders.com/news/read/521069 http://www.placingtraders.com/news/read/521065 Bloomberg 16 January 2012 Billionaire Richard Elman said he will soon install a new chief executive office at Noble Group Ltd. as the 71-year-old founder and chairman of Asia's biggest commodity supplier prepares to ease his managerial control. "I expect some other management changes that will allow me over the shortest period of time to take life a little bit easy," Elman told Susan Li and Rishaad Salamat in an interview on Bloomberg's TV's "Asia Edge." "It's necessary for me to do it and I'd like to do it, but we will get a proper succession management in place before that. I promise that to myself and all the shareholders." Elman's successor will inherit a company that has grown into Asia's biggest listed commodity trader by sales in 25 years, overtaking century-old rivals in Japan including Marubeni Corp. Noble's rapid growth over the last decade had also made it "a little bit lazy" as the company posted its first quarterly loss in 14 years in November, Elman said. "We just have to shape up and deal with the situation," said Elman, a former scrap yard worker who set up Noble with $100,000 in savings in a small Hong Kong office.... Mon, 16 Jan 2012 10:35:00 GMT http://www.placingtraders.com/news/read/521065 http://www.placingtraders.com/news/read/521057 Helyette Geman, award-­‐winning commodity finance professor and advisor to governments and some of the largest financial service companies and commodity firms, has been named Special Advisor to Commodity Talent LLC, the New York-­‐based global executive recruitment firm announced today. Fri, 13 Jan 2012 16:38:00 GMT http://www.placingtraders.com/news/read/521057 http://www.placingtraders.com/news/read/521093 Goldman Promotes Commodities Head Ealet as Departures Signal Higher Turnover Wed, 11 Jan 2012 17:18:00 GMT http://www.placingtraders.com/news/read/521093 http://www.placingtraders.com/news/read/521053 Washington, D.C.—Jan 10, 2012—The Futures Industry Association announced today that its board of directors has appointed Walter Lukken as president and chief executive officer. Lukken brings to the FIA many years of experience in government as well as expertise in the mechanics of clearing, a critically important issue for the FIA and its members. He succeeds John Damgard, who has been the head of the association since 1982. “We are delighted to announce this appointment. Walt is a tremendously talented individual with extraordinary experience and industry knowledge, and we are very fortunate to have someone of his caliber to lead the FIA at this important moment in its history,” said Michael Dawley, chairman of the FIA and co-head of futures and derivatives clearing services at Goldman, Sachs & Co. The appointment concluded a selection process that began in March 2011, when Damgard announced his plans to retire. Lukken will take up the new position in time for the next annual meeting of the FIA board of directors scheduled for March 12. Damgard will remain with the organization as a senior advisor. During his career in Washington and New York, Lukken held a wide range of senior roles dealing with legislative,... Tue, 10 Jan 2012 17:15:00 GMT http://www.placingtraders.com/news/read/521053