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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 22 2017

Welcome to Exchange Invest Issue 1021 which correlates with a fascinating (apparently lost) Porsche 356A which appears to have been the 21st of the 20 speedsters built…

Euro Clearing Essential Background:

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

EU looks to bolt one of many flapping stable doors in MIFID II. CDSL IPO a staggering 170 times oversubscribed while Sebi permits hedge fund trading in commodity derivatives. MSCI upgrades China A shares, IEX suggests more data revenue disclosure would be welcome.

And there’s more, happy scrolling:

In BigWorld

Over in Bigworld, micronation Hutt River Province is in trouble with Australian tax authorities, who have demanded arrears on a series of areas where the HRP’s Prince deems his sovereignty applies…

Public Markets

HK Boosts Link Between Mainland, Overseas Markets
China Daily
The Index Inclusion A Giant Leap For Opening Up
Shanghai Daily (subscription)

PLY: MSCI Upgrades China, launching a whole new “A train.”

Alex Brummer: Carney Riposte
This is Money

PLY: Firm support for Carney’s remark in his Mansion House speech that the EU is seeing to undo the G20 reforms and thus damage the world economy through their misguided protectionist instincts.

Brief-Singapore Exchange Increased Investment In SGX Bond Trading Pte
Reuters

Increased its investment in SGX-BT, by increasing share capital of SGX-BT from S$30 million to S$55 million, paid cash.

Athens Exchange Group CEO Optimistic About Greek Economy
Bloomberg

Socrates Lazaridis, Athens Exchange Group CEO, discusses Greece’s debt issues and the Greek economy.

London Stock Exchange Group Plc Transaction In Own Shares
MondoVisione

Private Markets

CDSL IPO Sees Overwhelming Response, Subscribed 170 Times On Last Day
Livemint

Sebi’s ‘Show Cause’ Notice To NSE In Algo-Trading Case Points To Another Shoddy Investigation
Livemint

PLY: Withering criticism from the excellent Mobis Philipose.

Sebi To Rope In Forensic Auditor To Probe NSE’s Co-Location High Frequency Trading Case
Financial Express

IEX Says Stock Exchanges Should Disclose More On Data Revenue
Reuters

Exchanges: At The Core Of The Future Energy Market. Our Vision For An Evolving Energy Sector – Europex Study
EUROPEX

Special Section: FTI, NSEL, India at the Crossroads

No news today.

Technology

NGM Stock Exchange Provides Trading System To AktieTorget
MondoVisione

PLY: Interesting tie-up between funding platforms in the Scandinavian SME field.

Products

EU Seeks To Close Banks Trading Loophole In Late Hour Move
Reuters

PLY: One tiny step against the curse of systematic internalisation amidst a giant mire of chaos in MIFID II.

India Allows Hedge Funds To Invest In Commodity Derivatives
Reuters

PLY: Sebi lets Category III AIFs into the commodity market. A sensible push by Sebi albeit once we see a market soar then the usual Indian reactionaries will try to blame the free market.

“Unlawful” Sukuk Threaten Dubai’s Islamic Finance Ambitions
Reuters

PLY: At issue is the often tortuous discrepancies in what amounts to religiously acceptable practice which itself varies wildly across the different regions and strands of Islam.

Tokyo Financial Exchange: Suspension Of Trading Over-Night Call Rate Futures
MondoVisione

PLY: In the event of an outbreak of a yield curve, the products will return…

Career Paths

ESMA Calls Experts To Join Post-Trading Panel
ESMA

OpenFin Names Goldman Sachs Alum Paul Walker To Board Of Directors
MondoVisione

Crowdfunding

SMEs & P2P Lenders Back Brexit-Heavy Queen’s Speech
P2P Finance News

PLY: The launch of the new UK government’s programme is BREXIT-rich with some interesting P2P financing opportunities. The good news was the Queen did make it on time to Royal Ascot after this last minute addition to her planned schedule.

Other Stories

Strengthen Europe’s Position in Global Capital Markets
FESE

PLY: I admire the optimism of FESE in pushing an agenda for growth and a free market economy.

CFTC Issues Order Of Registration To The Dubai Mercantile Exchange To Permit Trading By Direct Access From The U.S.
CFTC

CFTC Swaps Report Update
CFTC

Call For Papers: 7th Behavioural Finance And Capital Markets Conference, 25-27 September 2017
MondoVisione

Striving To Build Shenzhen Stock Exchange Into An Innovation Capital Formation Center – Speech By Mr. Wang Jianjun, President And CEO Of SZSE, At The 2017 (19th) China VCl & PE Forum
MondoVisione
Have a great Thursday, thanks for reading Exchange Invest.

All the best,

Patrick

Patrick L Young
Executive Director DV Advisors

December 2017
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