Proponents say a transaction tax would discourage short-term trading, with little effect on long-term investors.
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Back to the U.S., Nordvig notes that Hurricane Sandy has had an effect on trading.
Another reason is that the American Congress is about to vote on a proposal to grant China permanent normal trading relations, in effect approving its membership of the World Trade Organisation (see article).
Investment banks have been unable to mitigate the effect of the trading-profits drop by generating fees in other business lines.
Besides, electronic corporate trading has a rapid multiplier effect.
The integration of China and other emerging economies into the world trading system has, in effect, more than doubled the global labour force, and by curbing workers' bargaining power it has restrained pay demands in most developed economies in recent years.
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Physical or not, Angel of Georgetown says that there is a "time-zone effect" that discourages trading from migrating to one market.
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If the firms on the other side of Enron's trades start to fear that payment is not coming, they might curb their other trading, producing a knock-on effect.
And because nobody makes money just for the mere sake of making money, a consumption first policy is simply trading consumption in the future with compounded effect for consumption today with compounded debt.
Mirant, which owns power plants throughout the world and sells electricity to utilities and big corporate consumers, is suffering the Enron effect because of its energy trading and from temporarily depressed power prices.
He is predicting that as many as 200 pubs will close in Northern Ireland over the next 12 months and any measure that forces a pub to close early, losing valuable trading hours, will have a damaging effect on many local businesses.
In Britain, where DuPont participates in a voluntary emissions-trading programme, the government has, in effect, paid companies to accept reduction targets, he says.
And in either case the effect, except in a stock trading at a very high multiple of earnings, is to increase earnings per share.
Some brokers say the stock exchange was overheated because of the effect of the illegal kerb market trading, and blame the government for failing to halt the illegal sharedealing.
Some researchers, such as Paul Palmer at the University of Edinburgh, in Scotland, think satellites could also monitor the effect of policies such as carbon trading to see if they can rein in emissions.
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The introduction of the euro has in effect brought down the fixed cost of trading in the euro area.
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My job was to effect hedge positions for the government bond trading desk, the currency trading desk and the OTC derivatives desk.
And some researchers, such as Paul Palmer at the University of Edinburgh in Scotland, think that satellites could also monitor the effect of policies, such as carbon trading, that are adopted to rein in emissions.
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"When (a futures commission merchant's) financial risk controls are so lacking that they do virtually nothing to prevent an unchecked customer from taking grossly excessive trading risks as happened here, a harmful domino effect of financially dangerous consequences can follow, affecting not only the FCM but also potentially other customers and the market at large, " said David Meister, the CFTC's enforcement director.
Though the final rule has yet to take effect, Goldman has already shut down proprietary trading desks, divested other investments and shed securities.
Once Fin Reg is in full effect after a long transition period, imagine trading revenues down by 100% (with no trading at all).
The trading data show that these three events had minimal and transient effect on gold and silver.
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The proposal, which aims to slow the pace at which permits to emit CO2 are sold on the Emissions Trading System between 2013 and 2020, risks having only limited effect if it isn't followed by permanent measures, analysts say.
First of all, it does not take into account the effect of investment fees, such as management fees and trading commissions, on your returns.
"Until this begins to take effect we do not expect to see any improvement in trading conditions and we continue to carefully monitor all our activities, " it said.
It seems to be having the desired effect: Shares jumped about 2 percent on the open of trading today.
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The 2010 concept release questions whether having numerous trading centers, compared with essentially two a decade ago, could have a damaging effect.
Likewise, JPMorgan emphasized on its second-quarter conference call that its trading was client-centric, implying it expects to escape the worst of the Volcker effect.
For example, securities exchanges benefit from the network effect because as they attract more traders they become better able to handle additional trading volume.
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If such "clarifications" were supposed to have allayed predictable criticism from allies who have no problem trading with or otherwise propping up rogue state regimes, they did not have the desired effect.
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