Exchange Invest

The Daily Newsletter of Market Infrastructure








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Exchange Invest is a free daily email/web newsletter
about the core events pertaining to investment
in financial markets infrastructure such as:

  • exchanges
  • IT vendors
  • brokers
  • MTFs
  • clearing houses
  • etc.

June 30 2016

elb2Thanks to Cinnober for hosting a splendid TradEcho launch last evening in London hosted by Jamie Khurshid and Ulf Axman. It’s a great project for both them and LSE, which I am sure will deliver a “win win.” Overall, it’s a busy day for news. Bob Greifeld exudes common sense (a quality singularly lacking the world over, post Brexit), while IEX adds simply the perfect name as Chairman. And there’s a lot more, including a potentially seismic data ruling, happy… Continue reading

June 29 2016

elb2The noose tightens on DB1-LSE while some market manipulation discussion makes for somewhat perturbing reading if proven true.

In the parish, the ICDA CyberRisk conference in London, July 20th is an interesting upcoming event, secure a place at GBP 295 with the Exchange Invest code YOUNG295.

Meanwhile, you can now access my Brexit files in Premium through this contents directory: Brexit – Main File

Public Markets

Regulator Says HQ of Merged Stock Exchange Would Have to Be Moved From… Continue reading

June 28 2016

elb2In BigWorld, the Euro rioting championships have broadly subsided with a football tournament replacing it in France. England’s kickball team have been defeated by the mighty minnows of Iceland who memorably said no to EU subjugation and have rebuilt their economy themselves. Quite how a solvent non-EU member defeating one on the exit ramp can be spun as a victory by EU President Tusk exemplifies just why I will never follow football.

On Brexit, I discussed the issues for North… Continue reading

June 27 2016

elb2Brexit is going to continue to fascinate the parish and I know there is demand for more cut through, particularly as the mainstream media (especially in the USA) is, not to put too fine a point on it, rubbish.

Thanks for so much positive feedback on my coverage, including those noting that my pithy insights were worth the cost of an Exchange Invest Premium Subscription alone. Certainly $300 to ward off looking as ignorant as, well, mainstream media, would strike… Continue reading

June 24 2016

elb2Europe awoke to An Historic Opportunity as I term it in Premium. The UK PM is now toothless, defenestrated and on his way out (“so what has changed?” cynics might ponder) while the lousy Finance Minister is doubtless toast too. The EU has a simple binary now, reform or die. “It’s the economy stupid” won the Presidency for Bill Clinton – Brussels must focus on little else if it is to survive at the heart of any form of EU.… Continue reading

June 23 2016

elb2The UK votes today on Brexit, a chance to lead the EU to reform, or its own dismantling. Whatever the actual vote outcome, the biggest loser is clearly the EU itself, and the current (probably short lived) British government. I have made my views clearly felt as I believe is important in a democratic debate. The tricky bit is the Brussels blob is, at best, hazy about democracy. However, having searched long and hard for a last word which is… Continue reading

June 22 2016

elb2Tomorrow, in a move which has significant impact upon the market structure parish, the British people have the chance to redefine Europe.  The EU is failing and, without reform, is finished. How long that decline takes I have no idea but I doubt the 20% youth unemployment of the eurozone is sustainable for much longer. The French economy is a neverneverland construct of the most surreal disdain for the realities of economic gravity and bar Malta, the Mediterranean is… Continue reading

June 20 2016

elb2The great news Friday night was that the SEC has been convinced and the Flash Boys have their exchange licence. Plaudits, to Brad, Ronan and all the IEX team. Now, let’s see how this plays out.. Exciting times and opportunities abound.

Meanwhile in BigWorld, Toyota’s last minute loss in the 24 hours of Le Mans to Porsche was heartrending. This wasn’t an 11th hour defeat, it was a loss at the 50-somethingth minute of the 24 hour… Makes you wonder… Continue reading

June 17 2016

elb2Plaudits to the Malta Stock Exchange and the inestimably excellent FESE team whose organisation remains the benchmark amongst the exchange associations for engagement, membership relative to brief and the ability to organise an excellent event. Under Chairman Deirdre Somers and DG Rainer Riess, the organisation is blossoming and the latest Convention was another excellent event. Thanks to my panellists, Joanna Cound (Blackrock), Fabrice Demarigny (Mazars), Guillaume Prache (Better Finance), Luc Vansteenkiste, (EuropeanIssuers) and Simon Zammit (the Malta SE CEO elect)… Continue reading

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