Exchange Invest

The Daily Newsletter of Market Infrastructure


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.

September 30 2016

elb2Back on terra firma in Europe after that high altitude edition yesterday


In Today’s Exchange Invest

A frantic week comes to a close, as tad frantically… Repercussions blowing through on the extent of the DB1-LSE Phase 2 competition review as LSE furiously waves its appeasement sop of selling Clearnet in everybody’s faces. MCX shares have been soaring since the super somewhat seismic announcement of commodity options being permitted by SEBI. Don’t forget CBOE-BATS, which is… Continue reading

September 29 2016

elb2Greetings from 30-something thousand feet…

This edition of Exchange Invest comes from somewhere over the Atlantic as I fly back to Europe returning from the World Co-Operative ManagementConference in Belo Horizonte, Brazil. Admittedly, it was a bit touch and go, as the airport of Sao Paolo combines often wondrous interior architecture with the most blithely disorganised fiasco of customer obliviousness it has been my misfortune to experience in years of frequent travel.

Anyway, the wonder of it all… Continue reading

September 28 2016

elb2Another fine day in Belo Horizonte where I have been enjoying the wonders of Brazil while discussing all manner of elements of cooperative business strategy at the World Co-Operative ManagementConference.


In Today’s Exchange Invest

Jignesh Shah remanded in custody while there are various interesting people moves. BM&F Bovespa subject to anti competitive probe as EU decision seems likely to push merger decision into next year, just as it becomes publicly apparent that DB1 has placed its Asian… Continue reading

September 27 2016

elb2Once again slightly offbeat timing (but some of you liked it – even for the novelty) as I am in Brazil. Epic sessions yesterday as I opened the World Co-Operative Management Conference in Belo Horizonte with a keynote on the future of finance.


In Today’s Exchange Invest


CBOE swoops, buys BATS, rather shakes the parish up, with the Pyramid of Exchanges now looking remarkably close at the top of the second tier between LSE (awaiting possible… Continue reading

September 26 2016

elb2Brace yourselves for some exciting timings for Exchange Invest this week. As you doubtless know while various people have helped out with production over time, only I furnish the insights and pith under my “PLY” moniker. To that end, the pith may flow at different hours this week as I’m in Brazil where I am the opening keynote speaker Monday at the World CoOperative Management Conference in Belo Horizonte. It promises to be a fascinating conference. I am… Continue reading

September 23 2016

elb2In Today’s Exchange Invest
Very exciting development as CBOE talks takeover of BATS. ASX defends turf post tech kerfuffle, Euronext CEO talks the French line inferring that the EU is perfection and Britain will be back in mud huts soon. Thomson Reuters buys REDI, NSE appoints independent to report on access row. SEBI staff are upset at being targeted  by FTIL/MCX-SX/MSEI investigations and Indonesian Exchange pushes for dual listings of firms. Meanwhile – it’s been a while… but the… Continue reading

September 22 2016

elb2In Today’s Exchange Invest


Confirming previous stories, Yossi Beinart steps down as TASE CEO citing ill health while the Tel Aviv market which looks to many sickly tool. The controlling spectre of “Enquire” mode haunts the ASX post tech meltdown while Euronext repays debt and blasts the DB1 acquisition of LSE. Jignesh in jail until at least 26th September while MCX goes MOU with Mozambique, and there’s more…

Public Markets

Trading Shutdown Highlights ASX ‘Control’
The Australian

 … Continue reading

September 21 2016

elb2In Today’s Exchange Invest


Jignesh Shah has been arrested. Does the Indian justice system aspire to be third time lucky?


ASX on notice from government, Crest celebrates 20th anniversary, ICAP is indeed the prettiest date at the prom while IEX are seeking listings. NSX trails $6.7 valuation ahead of IPO, and there’s more, including Andrew Hauser’s well-received speech to the event celebrating 20 years of the UK’s Crest CSD system.


In Bigworld


Meanwhile in Bigworld, Angelina… Continue reading

September 20 2016

elb2In Today’s Exchange Invest


The Antipodes may not be at the epicentre of the planet but they are the focal point for much of the parish today as the ASX meltdown creates huge pressure on the Victorian monopoly to reform… The downside is not merely their loss, the risk is the strangulation of Australia’s capital market structure.


Meanwhile, rumours that even deploying a pair of bean cans and a length of string  to produce a primitive communications… Continue reading

September 19 2016

elb2In Today’s Exchange Invest


Breaking: ASX Melts Down.


Brutally surmised by the Sydney Morning Heraldthus: “What a remarkable day. There was no shortage of scorn and a lot of funny memes in reaction to the ASX’s technical woes and its bumbling reactions, but here’s hoping that the bourse gets its act together in time for tomorrow’s open.”


More below…




Meanwhile in Bigworld, the latest victim of overhype is not a reality tv… Continue reading

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October 2016
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