Core Viewpoint - The London Metal Exchange (LME) is undergoing transformation by shifting more bulk trades to its electronic platform, LME Select, to enhance market liquidity and transparency, despite some resistance from members who feel their business is being encroached upon [2][3][4]. Group 1: Market Transformation - LME aims to increase trading activities on the exchange by encouraging members to process certain client orders through LME Select, allowing for competitive bidding that could yield better prices for clients [3][4]. - The LME's commitment to improving market transparency has intensified following the 2022 nickel crisis, which highlighted the impact of over-the-counter (OTC) positions on price volatility [3][4]. Group 2: Member Dynamics - The LME has rejected proposals to transform into a fully open futures market, maintaining that trading must still occur through member channels, thus preserving their control over trading records and market liquidity [4]. - The exchange's cautious approach is justified as metal trading liquidity is inherently limited compared to other commodities, and member market-making activities are crucial for maintaining the vitality of less liquid contracts [4]. Group 3: Technological Advancements - LSEG has expanded its advanced trading platform, utilizing artificial intelligence to optimize negotiation processes, reduce error rates, and enhance bilateral trading efficiency [2][5]. - The integration of automated features into the LSEG Messenger service aims to streamline communication between members and clients, further improving trading efficiency [5].

Group 1 - The Dalian Commodity Exchange (DCE) announced the expansion of the range of commodities available for trading by qualified foreign institutional investors starting from June 20, 2025 [1] - New futures and options contracts for ethylene glycol and liquefied petroleum gas will be available for trading by qualified foreign investors [1]

Core Viewpoint - The Canadian Royal Bank warns that the S&P 500 could drop by 20% due to the ongoing geopolitical conflict between Israel and Iran, suggesting that the market may be overly complacent about the potential escalation of the situation [7][8]. Market Reactions - Global stock markets showed a positive trend despite the ongoing conflict, with the Nasdaq index achieving its largest single-day percentage gain since late May [4][5]. - On Monday, major U.S. stock indices closed higher, with the Dow Jones Industrial Average rising by 0.75% to 42,515.09 points, the S&P 500 increasing by 0.94% to 6,033.11 points, and the Nasdaq gaining 1.52% to 19,701.21 points [5]. - However, on Tuesday, market sentiment reversed, with WTI crude oil prices rising by 1.44% and gold prices also increasing slightly, while U.S. stock index futures declined [2][5]. Analyst Warnings - Analysts express concerns that investors may be underestimating the risks of a broader conflict in the Middle East, with warnings that the situation could escalate into a prolonged war [7][8]. - RBC analysts predict that the S&P 500 could fall to a range of 4,800 to 5,200 points, indicating a potential decline of up to 20% due to the adverse effects of the conflict [7]. - The market's current trajectory is seen as overly optimistic, with analysts suggesting that the ongoing conflict could have significant implications for U.S. stock valuations, corporate earnings, and economic growth [8].

CME以太币期货DCR主力合约跌3.60%，报2555.50美元，本周累涨2.40%，交投于2891.00-2446.00美元 区间。 周五（6月13日）纽约尾盘，CME比特币期货BTC主力合约较周四纽约尾盘跌1.25%，报10.6万美元，本 周累计上涨0.94%交投于11.1万-10.3万美元区间。 ...

Core Insights - The CME Bitcoin futures main contract increased by 4.36% compared to the previous Friday, reaching $109,000 [1] - The CME Ether futures main contract rose by 3.62%, closing at $2,605.00 [1]

夜盘期货开盘，原油、纸浆、橡胶、沪银等上涨；纯碱跌逾1%，沪锌、沪镍、焦煤等下跌。 ...

Core Viewpoint - The "Nansha Financial 30 Measures" aims to position Nansha as a significant financial hub and innovation platform within the Guangdong-Hong Kong-Macao Greater Bay Area, enhancing financial support for technological innovation and entrepreneurship [2][3][9]. Group 1: Policy Development - The "Nansha Financial 30 Measures" builds on previous policies, including the "Nansha Financial Reform 15 Measures" and the "Guangdong-Hong Kong-Macao Greater Bay Area Development Plan," to empower the local economy and industry [2][3]. - The measures include 27 financial reform and innovation initiatives across six areas, such as enhancing financial services for innovation and entrepreneurship, improving social welfare financial services, and promoting cross-border financial innovation [3][4]. Group 2: Financial Support for Innovation - Financial institutions are encouraged to innovate their product offerings and create tailored financial services that meet the specific needs of different industries [4][5]. - Agricultural Bank of China has provided significant financial support, issuing loans totaling 4 billion yuan to over 500 tech enterprises and 3,000 small and micro businesses in Nansha over the past three years [5]. Group 3: Cross-Border Financial Integration - The measures promote cross-border financial integration, including the establishment of a direct capital account for foreign investment enterprises, facilitating smoother capital flows [6]. - The collaboration between Guangzhou Data Exchange and Hong Kong's digital asset platforms aims to enhance data trading services and foster a data-driven economy [8]. Group 4: Strategic Industry Upgrades - The focus on strategic industry upgrades emphasizes the need for a diverse and innovative financial service system that aligns financial resources with industry demands [4][10]. - The measures are expected to create a new advantage for Nansha, combining economic development with financial hub capabilities, thereby enhancing the region's global competitiveness [10]. Group 5: Risk Management and Regulatory Framework - The importance of balancing reform with risk management is highlighted, advocating for enhanced monitoring of cross-border capital flows and the adoption of regulatory technologies [11]. - The use of regulatory sandboxes for testing financial innovations in a controlled environment is suggested as a way to encourage innovation while mitigating risks [11].

Group 1 - CME Bitcoin futures main contract remained roughly flat, closing at $105,000 on Friday (June 6) after a V-shaped reversal on Thursday and Friday [1] - CME Ether futures main contract fell by 3.07%, closing at $2,511, after a drop to $2,395 on Friday morning before recovering some losses on the non-farm payroll day [1]

CME以太币期货DCR主力合约跌7.96%，报2410.50美元。 周四（6月5日）纽约尾盘，CME比特币期货BTC主力合约较周三纽约尾盘跌4.37%，报10.1万美元，日 内至北京时间21:10窄幅震荡于平盘附近，最高达到10.7万美元，随后震荡走低。 ...

高盛：特朗普加码钢铝关税引发白银大涨 金十数据6月5日讯，特朗普政府宣布将钢铝关税从25%提高至50%之后，白银迎来了强势上涨。因为这 一消息令市场预期美国政府可能会对其他关键金属（如白银）采取类似贸易保护措施，从而推升对白银 的避险和替代性需求。高盛期货交易员Robert Quinn称，美国提升钢铝关税的消息引发了白银期货市场 显著的多头建仓。白银期货总持仓量激增28亿美元，为过去一年中最大的两日增幅。尽管EFP（期货与 现货价差）波动较大，但整体趋于升水，表明市场对近期现货紧张的预期增强。同时，白银价格的上涨 推动了程序化趋势追踪资金入场做多。此外，期权市场也表现出看涨姿态：三个月隐含波动率飙升； 25-Delta认沽-认购偏度（Put-Call Skew）回落，表明投资者更愿意持有看涨期权；5 Delta与25 Delta认购 期权比例反弹，显示对极端上涨的押注增加。 ...