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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:

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  • MTFs
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FEBRUARY 20 2017

Welcome to Exchange Invest Issue 936 which correlates with the fabulous 2.1 litre turbo group 6 spyder which won Le Mans in various guises, deploying a spaceframe based upon the legendary 917.

In Today’s Exchange Invest

BM&F results, Germans patriotically attack British patriotism. British politicians to debate deal while NMCE-ICEX merger is rumoured. Lots of product news as Trinidad and Tobago SE unleashes new system.

And there’s more, happy scrolling:

In BigWorld

Despite my broad antipathy towards chasing inflated pigs bladders round fields, I must applaud the singular achievement of Lincoln City, a UK non-league side who have just made the quarter finals of the storied English FA Cup. Even the New York Times interrupted their ongoing blanket anti-Trumpdom to discuss this footballing phenomenon. Leaving aside the NYT having a brief (but welcome) outbreak of objectivity (AKA Burnley’s melt down was perhaps the first thing they have not blamed on President Trump for weeks) this is a historic event. The last time a non-league team reached the last 8 of the FA cup was 1914 when Queen’s Park Rangers (subsequently part owned by John Barker of this parish) managed the feat. Clearly 1914 was some time ago under any timeline. For those trying to benchmark it in football terms, I am unreliably informed it was just weeks before Arsene Wenger took over from George Graham as manager of Arsenal.

Public Markets

4Q16 Results
2016 Results
BM&FBOVESPA

Germans Attack Exchange Chiefs Over HQ Move
The Times (subscription)

PLY: Bowing to political pressure in Britain is unfair say Germans trying to force to DB1 comply with political pressure.

Finally, MPs Probe German Takeover Of The London Stock Exchange …Critics Say Is Against UK’s …
This is Money

PLY: Is this finally, or just ramping up the pressure to ensure UK gov kill the deal presuming EU antitrust, Hesse regulators et al sidestep the opportunity?

Beware Barring Stock Exchange Merger, Tyrie Warns MPs
The Times (subscription)

PLY: Strikes me a headline to support the Times’ tiresome europhilia has been plucked from the Treasury Select Chairman’s balaanced summary of pros and cons?

DB1 LSE Gets Norwegian Approval
London South East (registration) (blog)

City Broking Giant TP ICAP Mulls Changes To £85M Share Plan
Sky News
… of the voice-broking business of ICAP, the company run by former Conservative Party treasurer Michael Spencer and now renamed NEX Group.

Financial Firm Tullett Prebon Stays In Fidi, But Relocates To Brookfield Place
Commercial Observer

Singapore’s Hope Of Beating Hong Kong In IPOs Is A Pipe Dream
South China Morning Post

Private Markets

Survival First: NMCE Considers Merger With ICEX
Economic Times

Mainland’s OTC Start-Up Equity Market To Be Given Fillips, As Hong Kong Dithers
South China Morning Post

Last year, annual turnover was 200 billion yuan (HK$226 billion), equivalent to just a single day’s trading on the Shanghai Stock Exchange .

Thai T+2 Implementation On Schedule For Q1 Launch
Bangkok Post

SECP, Stock Exchange To Probe Irregularities By Mr Securities
The News International

Islamic Banks Mull Commodity Platform To Park Surplus Liquidity
The News International
Amit Mitra: Tax Reforms In State Budget Will Help 1 Lakh Traders
The Asian Age

Former Star Looks To Kick-Start Football Finance Deals For Masses
Financial Times

PLY: On The London Sport Exchange, a securitisation venue which is only touching the tip of the iceberg in terms of the potential for sports exchanges.

Special Section: FTI, NSEL, India at the Crossroads

PLY: Nada news but if you are interested in the state of play, drop by the NSEL web site which outlines activity to date in sorting out this fiasco.

Technology

Stock Exchange Launches State-Of-The-Art Trading System
Trinidad Guardian

The T&T Stock Exchange (TTSE) is now trading with similar leading-edge technology, using the Avvento Trading Platform.

PLY: I Must admit that “Avvento Trading Platform” does not ring a bell for me.

Moscow Sees Improvement In Post-Trade Testing
FOW magazine

Santander Invests In Artificial Intelligence Startups
Reuters

Products

Asian Exchanges ‘ Class Conflict
Bloomberg

Thomson Reuters Fxall & Electronic Trading Refresh Cny Trading
Finance Magnates

IME To Begin Bitumen Exports To India
Financial Tribune

Iran Mercantile Exchange is planning to start bitumen exports to India.

Sebi Likely To Allow Mutual Funds To Trade In Commodities Soon
Economic Times

Bitcoin Fork Soon? Bitcoin Unlimited Surges Past Segwit, Core Blocks Drop Below 75%
CoinTelegraph
PLY: Worrying times for Bitcoin per se as costs seem to be escalating to the point where the currency is more costly than even credit card fees.

You Can Now Trade In Gold, ETF Launched On Nairobi Bourse
The Standard (press release)

Career Paths

Who Is Sarah Al Suhaimi, The First Woman To Lead Saudi Stock Exchange ?
Al-Arabiya

Euronext Appoints Paulo Rodrigues Da Silva As CEO Of Euronext Lisbon – Paulo Rodrigues Da Silva Will Join Euronext Early March, 2017
BusinessWire

Bursa Malaysia Berhad Announces Appointment And Retirement Of Public Interest Directors
MondoVisione

Irishman Targets More Disruption In ‘Trading War’ With Wall Street
Irish Independent

PLY: Good to see Ronan Ryan of IEX mentioned in the Irish media.

Andrew Housden ex of BT, has joined as vice president of capital markets, reporting to Tom Regent, Colt’s chief commercial officer at Colt Technology Services according to FTF News.

Crowdfunding

China Regulators Warns That 90 Pc Of Peer-To-Peer Lenders Could Fail In 2017
South China Morning Post

PLY: Now that is a pretty staggering figure.

Slow-Clap For Scomo’s Dodo, Equity Crowdfunding Legislation That Is Already Extinct
The Australian Financial Review

PLY: A curious case of legislation which the Fin Min himself says is going to change but the legislation keeps grinding through Parliament.

Other Stories

Big US Banks To Push For Easing Of Money Laundering Rules
CNBC

PLY: The problems with compliance culture writ large – everybody is so busy covering their possible ‘risk’ that no business can be done.

How Does A Stock Market Operate In War? Syria — A Case Study
TradingFloor.com

Welcome To Purgatory?
Times of Malta

PLY: As good a top level look at Bonds as I have seen – leading Maltese broker David Curmi pinpoints the issues as the bond market appears to have peaked after a staggering bull run.

It’s already a sunny day in Malta, have a great week and thank you for digesting the day’s market structure news via Exchange Invest.

Best wishes,

Patrick

Patrick L Young
Executive Director DV Advisors

May 2018
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