Here is some good news for futures traders: More tradeable products for globex, more full contracts on globex during pit session hours. Gonna rethink some ideas.
http://www.silobreaker.com/DocumentClusterReader.aspx?Item=16_892759819
In an effort to win over critics, CME last month increased the proposed payments to NYMEX members, slashed the "golden parachutes" being offered to NYMEX executives, and promised to maintain the New York trading floor at least until 2012.
Last week, some members reacted angrily when it was revealed that the $750,000 payout would likely be taxed as "ordinary income," instead of as lower-taxed "capital gains."
Outspoken NYMEX member Robert Sahn, who originally opposed the deal, said on Monday he expects fellow members to push for an Internal Revenue Service ruling on how to tax the payout.
"I think a lot of people are going to try to get an IRS ruling that it is long-term capital gains," Sahn told Reuters.
http://www.silobreaker.com/DocumentClusterReader.aspx?Item=16_892759819
In an effort to win over critics, CME last month increased the proposed payments to NYMEX members, slashed the "golden parachutes" being offered to NYMEX executives, and promised to maintain the New York trading floor at least until 2012.
Last week, some members reacted angrily when it was revealed that the $750,000 payout would likely be taxed as "ordinary income," instead of as lower-taxed "capital gains."
Outspoken NYMEX member Robert Sahn, who originally opposed the deal, said on Monday he expects fellow members to push for an Internal Revenue Service ruling on how to tax the payout.
"I think a lot of people are going to try to get an IRS ruling that it is long-term capital gains," Sahn told Reuters.
