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.

JULY 12 2017

Welcome to Exchange Invest Daily Issue 1034. On November 25 1034, King Malcolm II of Scotland died in battle at Glamis to be succeeded by Duncan, son of his second daughter, rather than Macbeth, son of his eldest. This move has since had controversial multimedia ramifications over the centuries. Meanwhile, this day in 1984 Walter Mondale named Geraldine Ferraro as his running mate, first time a woman had been on a big ticket VP campaign.

Euro Clearing Essentials

1) Prosperity UK Panel – Brexit, Euro Clearing & Financial Market Structure: panel with Barney Reynolds, Jeff Sprecher, Michael Spencer and one Patrick L Young lurking in the background.

2) My CapX article explaining The EU’s Euro Clearing Plan Is An Act Of Protectionist Self-Harm.

In Today’s Exchange Invest

Good numbers from NEX as it structures the internal restructuring being undertaken to boost profits as shareholders gather for the AGM.

And there’s more, happy scrolling:

In BigWorld

According to the latest research, coffee is so good for you each cup adds 9 seconds to your life. So, there’s no time like the present to get on with pre-planning Mrs Young’s 1000th birthday party then.

Public Markets

NEX Group Plc – Trading Statement

PLY: Encouraging constant currency revenues. The drive for, er, optimisation, of Nex will play a key role in improving the bottom line as this release notes. The potential remains essentially boundless as the company convenes its AGM today.

Launch of LiquidShare, A European Blockchain Fintech For SME post-trade

PLY: A good business angle and one rich in opportunity. Albeit the concept of a multi-party Franco-centric coalition and capitalism doesn’t strike me as a nimble way forward. This release promises much but appears to be little more than an update on a business plan as opposed to anything even so ‘tangible’ as a PoC.

NFA Seeks To Keep FXCM Complaint And News Release Public
FinanceFeeds (blog)

United States: NYSE To Expand Opportunity For Private Companies To List Without IPO
Mondaq News Alerts (registration)

PLY: For those who have eyes only for Dodd Frank reform, maybe we could parse a little wing clipping (and ideally, more!) of Sarbanes-Oxley.

TMX Group Limited Announces Release Date For Q2 2017 Financial Results

NZX Half Year 2017 Results Announcement Date

HSBC Boss Says Euro Clearing Business Could Eventually Move To Us Or Asia
Finance Magnates

PLY: As has been repeated frequently by multiple other parties too, good to see HSBC CEO Stuart Gulliver appreciating the potentially suicidal dynamics if the EU opts to overstep the mark in currency protectionism.

Private Markets

National Stock Exchange Grapples With System Fault Ahead Of IPO
NSE Operates Normally, But Questions Linger Over Systems Glitch

Metropolitan Stock Exchange Eyes Profitability, IPO In Next Two Years

Merger Appears Near For Hanoi & HCMC Stock Exchanges
VietNamNet Bridge

The long-awaited plan to merge Vietnam’s two stock exchanges to create a single bourse has landed on the Prime Minister’s desk, according to the Ministry of Finance (MoF)’s first half report.

Commodity Exchanges : SEBI Introduces New Norms To Improve Grievance Redressal
The Indian Express

Launch Of NSE Lending Plan Delayed Again To September
Business Daily (press release) (blog)

A system that allows investors at the Nairobi Securities Exchange Loading… to borrow or lend bonds and shares will be activated in September.

Qatar TV Interview: Al-Mansoori Stresses On The Robustness & Investment Attractiveness Of Qatar Stock Exchange

…Not yet on the wires:

PLY: Just in as EI raced to pixel, the Institute of Cereals of Mozambique is partnering with FinComEco to improve food security supported by the Republic of Mozambique Government, delivering an integrated Financial & Commodities Ecosystem efficiently linking supply to demand, driven by GMEX technology. GMEX will also have a 10% stake in the venture.

Special Section: FTI, NSEL, India at the Crossroads

No news today.


GreenKey Technologies And Red Box Recorders Partner To Launch Integrated Trading Voice Collaboration And Compliance Recording Solution


CME Group Announces First Trades After The Return Of The Russell 2000 Index Suite Of Products

PLY: The ICE reminds us that Russell 2000® Mini Futures will keep trading On ICE Through June 2018.

Dark Pool Traders Find Mifid Workarounds To Stay In The Shadows

EU Carbon Market Reform Talks See Little Progress

IME Warms Up To Automobile Trading
Financial Tribune

PLY: More details on what we announced as little more than a headline a few days back.

Bats Welcomes New Issuer SportsETFs To The Bats ETF Marketplace – 36 Issuers, 184 Funds Now Listed On Bats In The U.S.

PLY: I remember outlining a series of funds based around sports (and indeed other exotica like classic cars) in 1992. Of course at the time everybody I spoke to just thought it was pure madness…

Career Paths

PLY: ADX distributed a press release triumphantly trumpeting (and why not!) the arrival of Henri Bergstrom as Market Development Advisor. Delighted to repeat the news we covered a week ago.

Solactive the index provide has established its first overseas office in Toronto, in addition to the Frankfurt HQ. New hires include Bernd Henseler as Head of Americas, Stephen Chew as Head of Platform Management and Timo Pfeiffer as Head of Research & Business Development.

SenaHill Partners, LP. a fintech specialist merchant bank, has appointed former T Rowe Price CEO Todd Ruppert to help drive global expansion according to FTSE Global Markets. Good to luck to the always colourful Todd on this new venture.


No news today.

Other Stories

ESMA Provides Guidelines For Supervisory Cooperation Regarding CSDs

‘A Template For Enhanced Equivalence: Creating A Lasting Relationship For Financial Services Between the EU and the UK’ by Barnabas Reynolds

PLY: The link to the latest paper published by Barney Reynolds Monday which I mentioned yesterday.
Wednesday already, this week is flying by and for summer, it’s truly frantic!


Patrick L Young
Executive Director DV Advisors

March 2018
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