JUNE 28 2017
Welcome to Issue 1025 of Exchange Invest Daily which correlates to the year Bolesław I Chrobry is crowned as the first king of Poland.
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
A slight fracas at the SEC Market Structure meeting yesterday in Washington albeit the problem remains that last vestige of analogue Dickensianism, Reg NMS. TMX chooses new clearing and settlement solution as OpenDoor Trading raises another tranche of $10 million.
And there’s more, happy scrolling:
This headline from the FT sums up Bigworld this AM: Google’s Friends And Foes Draw Line Over ‘Anti-American Bias’.
Brief-IHS Markit Reports Qtrly Adjusted Earnings Of $ 0.52/Shr
There’s About To Be A Showdown Between America’S Biggest Players In Trading
Business Insider India
IEX CEO Sees Conflicts Of Interest In Equity Markets
Lutnick Lures Traders With Cash Incentive For Treasury Platform
NEX Optimisation’s triReduce Compression Service Surpasses $1 Quadrillion In Notional Principal Eliminated By Market Participants
Can The City Survive?
PLY: At last the Remain sponsor Bloomberg network manages to hold its nose and realise the world didn’t end with Brexit – albeit they deployed a reputable former London banker who I believe now resides in Sydney to explain the reality of Brexit and the City of London’s future.
Liquidity – The Currency Of Negotiation For Financial Services
Financial Services Negotiation Forum
PLY: Interesting paper from FSNF which notes the fact many of the more extreme ‘remoaners’ cannot cope with – the EU is better off with London as its dominant financial centre even with the UK ex-EU.
Nasdaq Holds Second Quarter 2017 Investor Conference Call
PLY: Actually it is not in the past as this headline infers, it’s coming up July 26th…
SGX To Report FY2017 Results On 27 July
CBOE Holdings Announces Date Of Second-Quarter 2017 Earnings Release And Conference Call
PLY: CBOE plays coquette – Friday 4th August, I think SGX wins the clarity of info award on these points today.
Would Whoever’s Left At The CFTC Please Turn On The Light?
PLY: It is a concern that even a tiny parish newsletter such as Exchange Invest has an equivalent number of executive directors as the CFTC has Commissioners.
OpenDoor Completes $10M Series A Funding Round
PLY: Bond platform has now raised $22 million over 3 rounds (2x Series A).
ASEA And CFA Institute Sign Memorandum Of Understanding To Raise Standards Of Education And Professionalism In The Investment Management Industry
Special Section: FTI, NSEL, India at the Crossroads
No news today.
TMX Picks TCS Platform For Clearing & Settlement Businesses
PLY: Interesting move by TMX choosing the services of Tata.
Interactive Brokers Beefs Up Offering To Institutional Clients With New Pre- Trade Compliance Tool
CME Obtains Regulatory Clearance To Launch OTC FX Options Clearing
Europe Is About To Make Most Of Its Stock Market Off-Limits To Secretive “Dark Pools”
LME’s New ‘2nd Day’ Trading Dates Will Start On August 1
Bombay Stock Exchange Aims For 1000 New Listings As India Reforms Taxes
CME Group Announces The Launch Of Australian Wheat Fob (Platts) Futures Contract
PR Newswire (press release)
Barnabas Reynolds Profile
PLY: I like people with brains and there is nothing more pleasing than people with brains who think. Barney Reynolds is one of the clearest of thinkers in the City of London and while all around are in meltdown, he notes the clarity which Brexit could deliver to a future prosperity increase in the City of London and the UK as a whole.
PLY: Cinnober has appointed Mattias Granlund, formerly with Klarna as Deputy Chief Technology Officer (CTO) with immediate effect. He will be working closely with Peter Lenti, co-founder and CTO of Cinnober, on the company’s long-term technical strategy in addition to driving product development.
NZX has appointed Jayshree Das As Conflicts Committee Member.
Online Lending Platform Stashfin Raises $5 Mn In Pre-Series A Round
MiFID II: ESMA Issues Final Guidelines On Trading Halts
SIFMA Testimony At House Subcommittee Market Structure Hearing
Testimony On The Fiscal Year 2018 Budget Request, SEC Chairman Jay Clayton, Washington D.C., June 27, 2017
Testimony Of J. Christopher Giancarlo Acting-Chairman, Commodity Futures Trading Commission Before The U.S. Senate Committee On Appropriations Subcommittee On Financial Services And General Government
Deutsche Bank Faces Possible $60 Million Derivative Loss
PLY: Another handy loss for what is the Eurozone’s largest ‘domestic’ GCM.
Apologies for slightly tardy issue today, I have been speaking on finance and innovation in Malta, with amongst others the excellent Leonard Bonello of Ganado Advocates, at the Microsoft innovation centre in Malta. Thanks to the PKF team for organising a great event.
All the best,
Patrick L Young
Executive Director DV Advisors