Court will wait to rule on CBOT exercise rights

(Reuters) - CME Group Inc., the world's largest futures exchange, was
created with the merger of CBOT Holdings Inc. and Chicago
Mercantile Exchange Holdings Inc. in July. The CBOE is the
largest U.S. options market.




The exercise rights allow full members of the Chicago Board
of Trade to trade options on CBOE without owning CBOE
membership.


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U.K. Pound May Hold Near 26-Year High on Bets BOE Will Raise Interest Rate

(Bloomberg) -- The pound may hold near a 26-year high
against the dollar on speculation the Bank of England will lift
interest rates today and signal further increases are needed to
curb inflation.

The U.K. currency climbed to $2.0207 yesterday, the highest
since June 1981, and has held above $2 for the past five days.
BOE policy makers will increase their interest rate a quarter
percentage point to a six-year high of 5.75 percent today,
according to 53 of 60 economists surveyed by Bloomberg News.


Read more at Bloomberg Currencies News

CBOE says won't pull plug on CBOT rights for now

(Reuters) - But those rights will stay intact for now, until the U.S.
Securities and Exchange Commission makes a final ruling on
CBOE's earlier filing on the topic, an exchange spokeswoman
said.




In that filing, CBOE set forth its interpretation that if
CME absorbs CBOT to create CME Group Inc., "there will no
longer be CBOT members who may qualify to become and remain
exerciser members of CBOE."


Read more at Reuters.com Bonds News

Pound Heads for Sixth Quarterly Gain on View Rates Have Further to Rise

(Bloomberg) -- The pound headed for a quarterly
gain, its sixth in a row, after a rise in consumer and mortgage
lending supported the view that the Bank of England will keep
raising interest rates to curb inflation.

Data showed consumer credit growth almost doubled in May and
mortgage approvals unexpectedly rose to a three-month high,
suggesting the BOE must do more to cool price growth. Policy
makers next decide on interest rates on July 5, and economists
surveyed by Bloomberg News expect them to lift the main benchmark
a quarter-point to 5.75 percent.


Read more at Bloomberg Currencies News

Sprecher, Brodsky Say Further Talks on CBOE Legal Dispute Are Possible

(Bloomberg) -- The top executives of Intercontinental
Exchange Inc. and the Chicago Board Options Exchange said they
are open to further negotiations to resolve a longstanding legal
dispute between the CBOE and the Chicago Board of Trade.

Intercontinental Exchange Chief Executive Officer Jeff
Sprecher is working with CBOE to help his effort to break up the
Board of Trade's plan to sell itself to the Chicago Mercantile
Exchange. The CBOT has accepted a $10 billion acquisition offer
from the Chicago Mercantile Exchange over Sprecher's unsolicited
$10.8 billion bid.


Read more at Bloomberg Energy News

U.K. Pound Gains for Third Day as Traders Add to Bets on Rate Increases

(Bloomberg) -- The pound rose for a third day versus
the dollar as traders added to bets the Bank of England will
continue raising interest rates this year.

The currency also traded near the highest in almost 15 years
versus the yen today as a gain in Asian stocks encouraged
investors to use the so-called carry trade, taking advantage of
low interest rates in Japan to fund purchases of higher-yielding
assets, such as the pound. BOE policy makers will announce their
monthly decision on interest rates this week.


Read more at Bloomberg Currencies News

ICE in pact with Chicago options exchange: report

(Reuters) - CBOT has been battling with the CBOE over exercise rights that date back to the creation of the options exchange by CBOT in 1973. The rights allow CBOT full members to trade options at the neighboring CBOE without having to buy a membership.




CBOE has requested that these rights be terminated if CBOT is taken over. CBOT has vowed to protect the rights.


Read more at Reuters.com Business News

BOE leaves rates unchanged

The Bank of England left interest rates unchanged at 5.25% on Thursday, the Bank's Monetary Policy Commitee (MPC) said.

There had been speculation that the central bank would raise rates to head of an expected further rise in inflation.

Read more at FIN24.co.za