Word: merceds
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Since then, the Chicago Mercantile Exchange has imposed a limit on the amount that an index futures contract can rise or fall in a single day. The Merc has also increased the amount of cash, or margin, that speculators must put on deposit. Congressional investigators are talking about additional safeguards to limit the number of futures contracts a broker could execute in a day. But at hearings last week in Washington, Merc President William Brodsky argued that the sale of index futures had a stabilizing effect on Black Monday. Without that escape valve, Brodsky suggested, the Dow would have fallen...
...character and incident that builds to an ugly and violent mood. Dunne is a masterly setter of scenes and a merciless satirist, whether the target is an incontinent captain of industry or a criminal who has been packaged as a black revolutionary and needs an investment adviser: "The Merc and I were thinking more along the lines of Ornstein and Shay. Tax specialists . . . Estate planning. Top litigators. On the civil side, of course...
...stability of the marketplace." But a senior White House aide quickly denied that the Administration would depart from its free-market philosophy, "even if it means the oil price drops to $1." The seemingly conflicting comments generated jitters in the oil-trading pit of the New York Merc, where the price of West Texas Intermediate edged back up to $12.74 at week...
...floor of the Chicago Mercantile Exchange, the clamorous trading in financial futures used to come to an abrupt stop. Until last Thursday, traders were forced to wait until the next day to carry out deals triggered by late-breaking economic developments. But in a historic move, the Merc last week opened a late shift running from 8 p.m. to 2 a.m. This was accomplished by electronically Unking Chicago trading with a futures exchange in Singapore, which is 14 hours ahead of Central Standard Time. The connection allows traders in both cities to make late-night deals to keep up with...
...Miami Dolphins during the glory years of the early '70s, who was convicted last November on cocaine-trafficking charges; to 20 years in prison, five more than the mandatory minimum. Said Circuit Judge Ellen Morphonios Gable, who pronounced sentence: "George [Yoss, the prosecutor] and I both like Merc, but we've got to do what...