The greatest experiment in multi-national currency reform continues to unfold.  I don't expect the Euro to dissolve in the complete sense, however I expect one or several member-states to remove themselves from the system and reissue an IMF-backed currency.  That seems to be the way things are done in these types of situations, for instance Chile in 1982, Brazil in 1982, Argentina in 1982, Mexico in 1987, Russia in 1998, and Argentina again in 2001.  Each result was an IMF-backed...

It should come as no surprise that a network of journalists who have never traded a share, a currency, an option, or a future in their lives repeatedly cite and support the "research" of Nanex/Themis.  I overheard a segment this morning regarding the "time arbitrage" between Chicago and NYC, and citing "investigative work" by the CEO of Nanex, they attempt to explain an arbitrage conducted at "the speed of light." The trade in question consists of "someone" buying 1,300 ES contracts and...

The full interview can be found here. I previously touched on Knight's trading in the ADR sector using RWE Group as an example. Ulam: What are some of the key challenges regarding new ETFs coming on the market in terms of establishing liquidity?Browne: If you look at the ecosystem of ETFs, market makers historically rest at the arbitrage band. Wherever the arbitrage is located, market makers will begin quoting at that band. And the further you go through this band, the more liquidity shows...