so the derivatives market place c.m.e. group confirmed monday it is in the process of applying to the u.k. financial services authority or f.s.a. to create a london based derivatives exchange it will initially begin trading foreign exchange futures products and is expected to launch mid two thousand and thirteen most of the c.m.a. is stepping up to the majors london is really the major leagues broad this is where the biggest commodity abusers are manipulators and counting frauds a coordinated government intervention manipulation takes place c.m.e. wants a piece of that action they think they're ready for that kind of action remember g. lehman brothers and have global j.p. morgan's london whale made off all want to london is the big leagues of fraud so sue me good luck with your move to the majors well we'll see how you do well the good thing about moving to london is that you know the british people are self abusers they'll take all the abuse that banks through poor upon them tackle lazy britain fellow tories tell david cameron

. >> tom: and the largest futures exchange in the u.s., the c.m.e. group, looks to start its first foreign exchange overseas. >> susie: that and more tonight on "n.b.r."! >> tom: by one measure, the u.s. market stocks continue trading near barely budged today, as many investors remain concerned about europe, and wait for economic data later this week. the dow closed down 3.5 points, while the s&p finished virtually unchanged. the nasdaq slipped less than a point. but all three major indexes remain near their highest levels in more than four years. so why is the u.s. market doing much better relative to many other global markets? erika miller reports. >> reporter: the u.s. clearly has its problems: weak economic growth, massive debt, and political dysfunction. but for many stock investors these days, buying american is far more appealing than the alternatives. >> if you take a look at the us economy, we've seen it's been very resilient in the face of all these uncertainties. we've seen 12 consecutive quarters of positive economic growth. you take a look at

that has sent soybean prices above $17 a bushel at the c.m.e. group. a year ago prices were around $13. the sun xien company bought about 35,000 pounds of soybeans just a couple of weeks ago and paid about $17,000. now this should last through the fall, but once the company has to buy more beans it's hard to say what the price of beans will be. >> we might be looking at $20,000. we might be looking at 15. it's really hard to tell. some people will get out of buying the soybeans if it's too high, no demand so it might bring it down a little bit. >> reporter: recent rains and cooler weather could reduce soybean losses and south america could also produce a large crop. but analysts say those are wild cards in a market that had tight supplies going into this growing season. >> you have a dwindling supply and a very consistent demand coming out of asia. the bigger buyer of soybeans continuing to be china and that buyer is still very much in the market. >> reporter: cheng says if soybeans are higher at the end of the year, sun xien may have to hike tofu pric

david lehman is the managing director of commodity research and development at the c.m.e. group. he says these new financial participants are improving the market for hedgers like marcucci. >> bringing a much broader array of participants into the market globally, as well as, bringing more liquidity into the markets from investors has actually dampened volatility. as you look at it statistically. >> reporter: lehman says what makes markets volatile is uncertainty: the current drought is a good example. and today hedgers and speculators have instant access to information and can trade electronically 24-7. university of illinois agriculture economist scott irwin says that can make for faster moving markets. >> but overall you'd have to say on net it likely means just simply, more efficient quicker reacting markets to even more relevant information. >> reporter: for marcucci it now means spending a little less time on the plant floor and a bit more time monitoring commodity prices. >> i've gone from watching it maybe monthly, to weekly, to daily, to hourly. >> marcucci has assurance

have paid me a penny not a penny well the second biggest group to reference your patent is the c.m.e. group and they're in the next headline gold continues to be money c.m.e. europe now accepts gold is clear in collateral over two years ago the us clearing house of the c.m.e. the world's largest derivatives market place had no choice but to allow gold as collateral why because as we showed some days ago while in europe bank deposits are expensive in the us financial system funding realized primarily on mythical assets as liabilities i.e. those that exist primarily due to faith in the system something which has been in short supply as a result of which the fifteen trillion dollars down from a peak of twenty three trillion shadow banking system long used to fund regulator operations has been imploding not well why is gold suddenly recognized as collateral by the c m e because the banks don't trust each other this was obvious in the two thousand and eight crisis when they stopped lending then central banks got together to band-aid. over the situation but they never solve the problem that these