NYSE Euronext being added to Portfolio
Posted on | October 10, 2008 Time: 4:31 pm |
I have been looking over the exchanges for most of the week, and many of them have held up extraordinarily well. CME has led the group as talks form around setting up CDSs and other OTC contracts on the exchange. Centralized clearing is a must, and the ideal solution will involve multiple exchanges agreeing on a descriptive platform and grouping strategy.
I don’t think that NYSE Euronext stands to benefit as much as CME, I much prefer the valuation and love the dividend yield at 5%.
Buying 1000 shares NYSE at $23.73 for the Secular Trends Portfolio. Today is still very shaky, and it seems that folks are waiting out the results of the auction for Lehman’s $400b or so in notional value CDSs. The CDS market has rarely been tested in the real world, so a successful resolution here could wipe away some uncertainty and help self-regulate the market (i.e. shrink it!) going forward.
Ryan Barnes
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