Ok... I going put an order in tomorrow and see if it get filled... With the rate cuts and the $700 Billion package, and everybody in a panic fear selling, I started buying stocks... Gonna see what TDXG gonna do in the new rule change environment... Thought they were gonna do r/m with AMEX but NYSE bought them, deal completed last week,, things are gonna change ... The no shorting financial stocks rule ends tonite... It's time for the CEO and CFO to show their leadership and get TDXG to end up on the winning side. They need to move the listing to OTCBB and get a .ob on the ticker symbol from the pinksheets .pk and become like their name and really become a global financial services company. Testing their software systems and website and email, could sold some of the problems.
This article was a good one that mad me think about Tradex's potential
" NYX has to be one of the most abused stocks I’ve ever seen or, as they call it, a “widow-maker.” But NYX is trading at extremely reasonable valuations and continues to increase earnings while realizing full integration of the Euronext merger. Clearly, the acquisition has been accretive as part of the Euronext merger included the LIFFE, or London International Financial Futures Exchange, which continues to be one of the most prominent international futures and derivatives markets. Continued growth was demonstrated by recent earnings of $195 million net profit, or 73 cents per share. Total revenue was $1.15 billion. I believe, down the road, further industry consolidation and a truly 24 hour global trading platform will change things dramatically.
By comparison, NDAQ reported $101.8 million in net profit, or 43 cents per share. Total revenue was $821 million. NDAQ was recently trading below $25 per share, which put it at a ridiculous p/e ratio of about 6x earnings. Now that it has risen since then, you still have a very undervalued stock and compelling entry point.
The CME is clearly the most dominant futures exchange in the world and a global powerhouse that seems unstoppable. But fears of regulation amid an election year and volatile commodity and oil prices seemed to have tamed the beast from returning to record levels it once enjoyed. The recent completion of acquiring the New York Mercantile Exchange (NMX) was well below what it debuted at as an IPO, and probably will turn out to be an incredible bargain down the road for the CME. The NMX sweet crude contract is still the primary barometer for oil futures markets and their vast array of commodity contracts offers product diversity for the CME.
Despite all the positive arguments for the CME going forward, I think it is at a higher risk for regulation by being a primary futures exchange, and especially if there is potential merging and consolidation of the SEC and CFTC. However, I believe that if anyone could benefit from potential regulation it would be the security exchanges such as the NYX and NDAQ. I say this because, if we are to see any potential regulation, it would most likely be targeted at reducing the volatility in the markets by creating transparency in large institutional block order flow through off exchange services known as “dark liquidity pools.”
While very few seem to discuss the reasons for historically unprecedented volatility in the stock market, I think at some point or another the issue will have to be raised and openly debated. The volatility is, undoubtedly, caused by the evolution of electronic markets and high volume, algorithmic trading platforms that account for nearly 55% to 2/3 of all transactions and allow institutional players to press the market in any direction they desire.
This is not to suggest that the glory days of the floor brokers is ever coming back; no, they remain as obsolete as the dinosaurs. But it would make sense to require all order flow and transactions to be routed through one or more of the major exchanges as opposed to crossing networks, so that there would always be absolute transparency and less of an opportunity for manipulation.
The argument for dark liquidity pools is that institutional traders and hedge funds can keep their positions close to the vest and not allow day-traders, retail traders and momentum players the opportunity to engage in scalping and “front-running,” or jumping in front of the order flow based on visible large block orders. Now, large block institutional orders are dissected into smaller, less perceptible, 100 lot orders and saturated through the system with algorithmic programming strategies such as Volume Weighted Average Pricing (V.W.A.P.).
It is clearly an advantage for large block institutional traders and the argument on their behalf is legitimate but, somehow, seems in complete conflict with the idea of “free markets” and fair play. In my opinion, no matter how big the order is, institutional traders should not enjoy either the advantage or ability to jump the line ahead of the crowd. Current market value literally means the price meeting point of what the buyer is willing to bid, and what the seller is willing to offer; it should never mean what one party arbitrarily decides by pushing volume in one direction or another.
ALL OPTIONS ARE ON THE TABLE
The NDAQ also completed its acquisition of the Philadelphia Stock Exchange which boosts its options market share above 15%. The NYX, not willing to stand by idly, has recently moved to acquire the American Stock Exchange, increasing overall options market share upwards of 16%. I think the options model for growth in the derivatives market is impressive for both exchanges as a continuing demand by institutional and retail investors drives revenues.
The Chicago Board Options Exchange is still the market leader in total options volume with almost 35% market share, but as it completes its demutualization process it will be interesting to see if it actually goes public as an IPO, or are simply acquired before they leave the starting gate. I am quite sure both the NYX and NDAQ are eyeing the CBOE very carefully, and you certainly can’t count out the CME or other global exchanges waiting on the wings. The CBOE will remain an enviable prize to be acquired or a major competitor to contend with.
RECOMMENDATIONS
Both the NYX and NDAQ are simply too cheap, in my opinion, not to own both positions as part of your portfolio. Just recognize they are both neglected and hated, so it may be a while before they have their day in the sun.
The CME is a high beta, high flying stock and not for the meek or weary of heart. I think there is too much volatility and risk to buy CME during current market conditions, it simply doesn’t justify the risk to reward ratio for most retail investors. It’s an incredibly well run company with excellent management, but as much as I like it, I cannot recommend the stock even though it has tremendous upside potential. I think you truly have to sit on the sidelines with this one until you know if there will or will not be any major regulatory changes with regards to the CFTC and the entire futures industry.
ICE will probably be acquired at some point or another, but the NMX acquisition by CME showed what the going rate was and, at those levels, the valuation on ICE had to come down to more reasonable price levels. I don’t see that much upside with ICE under these current market conditions. Of course, if the economy shifts and things change, perhaps it may be caught in a bidding war by being the last available major energy and commodities exchange. "
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