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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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MARCH 20 2017

The number 956 e.g. appended to this issue of Exchange Invest daily, sounds innocuous enough…but when we look at the Porsche design of the same name, the earth may even wobble a little on its axes. The 956 design was Porsche’s simply stupendous first aluminium monocoque racing car which is the sort of sports prototype which tends to lead you closer to believing in an inspired invisible hand in car design. The 2.65 Indycar engined Le Mans car was simply the benchmark for Group C cars, a worthy successor to the legendary 917. It’s absolutely my favourite Porsche and still holds the outright practice lap record on the legendary Nurburgring Nordschleife with a simply blistering 6 minute 11 second lap (try getting near that on your PlayStaton…) by the late, great Stefan Bellof.

In Today’s Exchange Invest

ICE heading to UK Court of Appeal over Trayport, various new markets, interesting Euronext-Morningstar Index deal while Bitcoin stands on the cusp of the fork.

And there’s more, happy scrolling:

In BigWorld

Huge plaudits to the Malta 2017 EU Presidency and particularly Nadine Lia on organising a really fascinating Business Transfers conference last Friday in Valletta. The aim is to facilitate and streamline business transfers in the EU to maintain jobs and encourage growth. Very interesting content albeit all those platform discussions and I could not help but feel some of our parishioners might have benefitted from being part of the discussion as well as benefitting the discussion itself?

Public Markets

Intercontinental Exchange Requests Permission To Appeal Trayport Ruling
The ICE

Exchanges: Choosing Their Fates
Seeking Alpha

PLY: A very thought provoking read.

Can’t Allow Stock Markets To Be Misused For Tax Evasion: BSE CEO Ashish Chauhan
Financial Express

Spot Exchange For Bullion At India International Exchange Soon: BSE
Indiainfoline

FXCM (Oops, Global Brokerage) Shares Plummet Another 15% To New All Time Low
LeapRate

PLY: After what was a great swindle according to the CFTC, FXCM shares are in what might be called the great dwindle, rebranded as a global brokerage but locked out of the US with account volume plummeting it seems.

Dubai Financial Market Officially Publishes The Final Version Of “Standard On Hedging Against Investment & Financial Risks
MondoVisione

Sibex Sibiu Stock Exchange : Current Report – Bod Decision To Convene Egsm And Ogsm
4-Traders

PLY: Having long since lost the will to live, SIBEX chooses the meeting to desire death in a merger which doesn’t help BvB but neatly sweeps a mess under the carpet.

Restoring Lunch Break Not Likely To Greatly Boost Trading Appetite
The Straits Times

Private Markets

Shanghai And Shenzhen Stock Exchange, China Settlement To Introduce Front-End Risk Control …
Top News

NSE (India) Mess: Whistleblower Rakes Up Dark Fibre Issue
Economic Times

Nigerian SE Launches Intense Lobby For Demutualisation
The Nation Newspaper

PLY: EGM next week.

Sebi Chief’s Grand Plans To Boost Commodities Market
Business Standard

PLY: Boosting commodity trade is good. The worry is the notion that the vast nation of India can deliver a single coherent price across the country – that surely makes no sense. Even if there is a national bench, regional anomalies will still apply, and ought to be allowed to!

Anyway, an encouraging opening statement from new Chairman Tyagi.

Kuwait Bourse Co Vows To Elevate Local Market To Int’L Levels
Arab Times Kuwait English Daily

SEC To Be Given Power To Sack Directors Of Listed Firms
Bangkok Post

CMA Oman To Sign Agreement With Lebanese Market Regulator
GulfBase.com

CMA (Kenya) To Relax Listing Fees To Woo More Firms To Nairobi Securities Exchange
The Standard (press release)

Nigeria Stock Exchange To Launch Forecast Disclosure Regime
Premium Times

SEC Releases Capital Market Strategy 2020
The Sunday Times Sri Lanka

Plan To Start Semi-Online Trading System In Limbo
The Kathmandu Post

“Stockbrokers are of the view that the proposed semi-online system might not help ease trading, as it is not linked to payment gateways and Nepal Stock Exchange (Nepse).”

PLY: This clearly may strike some readers as a potential hurdle – a stock market order handling system which doesn’t connect to the stock market.

Interview Wih Ethiopian Commodity Exchange (ECX) CEO Ermias Eshetu
Nahoomedia.com

PLY: Er, in Ethopian…

Among Mango Sellers And Shoeshine Men, A Stock Market Flourishes
Bloomberg

PLY: Profile of West African exchange BRVM in its HQ of Abidjan.

Special Section: FTI, NSEL, India at the Crossroads

NSEL Special Court Confirms Attachment Of Over Rs 566Cr Assets
The Indian Express

Technology

ASIC: Evaluating Distributed Ledger Technology
MondoVisione

Bitcoin Prepares For An Ugly Breakup
Fortune
Price Of Bitcoin Plummets Over Threat That Virtual Currency Will Split
MarketWatch
Major Exchanges Will Consider Bitcoin Unlimited A “New Asset”
Bitcoin Magazine

PLY: Essential background reading on something which has an impact across the Bitcoin firmament.

Products

Euronext And Morningstar Collaborate In European Indices And Derivatives Launch
Morningstar

PLY: Whatever the final result is with the rejuvenation of Euronext, the greatest thing is they are striving to make better markets everywhere and that is so heartening. I wish them every success with this Morningstar cooperation.

Snap’s Inclusion In FTSE Indexes Said Opposed By UK Investors
Bloomberg

A group of U.K. fund managers are lobbying against including Snap Inc., the photo app maker, in indexes run by the London Stock Exchange’s FTSEGroup.

PLY: Quite right too.

The Cannabis Stock Exchanges Are Multiplying Like Weeds
Civilized

Career Paths

MNB Appoints New Chairman To Budapest Stock Exchange
The Budapest Beacon

PLY: Plaudits to Richard Vegh on becoming Chairman as well as CEO of the Budapest SE, replacing Márton Nagy who may have fallen foul of a clash with the head of the Central Bank which controls Budapest SE stock.

Meanwhile, Zopa Co Founder Giles Andrews OBE has been appointed Chairman of MarketInvoice – excellent news.

ESMA Seeks Investor Protection Experts For Stakeholder Panel
MondoVisione

Crowdfunding

New Equity Crowd- Funding Law Wins Support Of Start-Up Community
The Australian

Australia’s startup community has largely welcomed the passage of new equity crowd- funding laws, despite the federal opposition labelling it a dodo.

Equity Crowdfunding Bill Passed, But Proprietary Companies Still Excluded
The Australian Financial Review

PLY: A law to help crowdfunding excluding the simplest forms of corporate structure remains a cunning means to stunt tall poppies before they have much chance to grow.

German Crowdfunding Association Sets Reporting Standards Above & Beyond Legal Requirements
Crowdfund Insider

PLY: Hmmmm….

RB Likely To Add Tough Riders To Regulate P2P Growth
ETtech.com

Other Stories

Chicago Trader Indicted For Defrauding Clients Out Of At Least $1.5 Million
Chicago Business Journal

Rye, the owner of Faster Than Light Trading, told investors to expect substantial profits from his proprietary trading program, according to an indictment.

Small Italian Investors Are Trembling At Mifid Ii
The Market Mogul

Newsletter complete – tick
Sun shining – tick
busy schedule of calls and meetings – tick
interesting meetings about new secret projects – tick
Porsche 956 in garage?

…Well clearly there is work to do.

Patrick

Patrick L Young
Executive Director DV Advisors

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