April 20 2016

elb2Frantic in London then en route to Dublin. Huge plaudits to Dan Day – Robinson, Loulou and the indefatigable TRG team of Wendy & Mel. ICDA Blockchain was educational, informative and great fun yesterday and it was great to see so many Exchange Invest readers there.

Public Markets

Interactive Brokers Q1 2016 Results

Interactive Brokers

Net revenues $489m and income before income taxes was $337m, compared to net revenues of $172m and loss before income taxes of $111m for the same period in 2015.

 

DB1 & LSE Plan To Unite Clearing Houses (subscription)

Philip Stafford – Financial Times

DB1 & LSE are planning to unite their clearing houses at the heart of their €20bn merger by creating a framework to oversee bank defaults. The two sides are working on common risk management & default frameworks for their market utilities.

PLY: So DB1-LSE plan to achieve what LCH and Clearnet hasn’t after more than a decade of trying. I don’t know about you but I am inclined towards a teensy bit of scepticism…

Euronext Said To Plot Ways To Block Deal Creating European Titan

John Detrixhe & Manuel Baigorri – Bloomberg

Euronext is evaluating how to create roadblocks to the LSE-DB1 merger because of concern the deal would marginalize its own role in European trading.

PLY: …as I recall one of the encyclicals from the tea trolley suggested the Bank of France would shrug gallicly and enable the merger as soon as Euronext was able to acquire Clearnet.

QV Premium: DB1-LSE Merger Brief.

 

LSEG: Disclosure Of Total LSEG Shares In Issue Pursuant To Rule 2.10

MondoVisione

 

BM&FBOVESPA Publishes Annual Report 2015

MondoVisione

 

ITG: Death of Controversial NYSE Rule Improved Trading

Annie Massa – Bloomberg

PLY: Rule 48 will not be missed.

 

SGX CEO: Size Isn’t Everything

Nikkei

Loh Boon Chye, SGX CEO: company is more concerned with offering investors a diverse range of products.

Private Markets

Sanjay Gupta, HFT Firm Chief, Lashes Out At Proposed Sebi Probe

Santanu Chakraborty – Livemint

 

Tradovate Launches As First Futures Brokerage With Commission-Free Membership Pricing – Online Firm Targets Active Traders With Cloud-Based Platform Accessible From Any Device

MondoVisione

Dividend News

Interactive Brokers declared a quarterly cash dividend of $0.10, payable on June 14, 2016, record date June 1, 2016.

Special Section: FTI, NSEL, India at the Crossroads

PLY: MCX +1.56%, FTIL down 2%.

Technology

Oslo Børs Extends Technology Partnership With LSEG

LSEG

Oslo continues relationship with Millennium extend for a further 5 years, effective from April 2017 (agreement began 2009).

 

Bridgepoint, Summit Partners To Acquire Calypso Technology

MondoVisione

PLY: Interesting deal…

 

Fintech Explosion Demands Joint Effort On Oversight

Elizabeth Dexheimer & Silla Brush – Bloomberg

Finance Chiefs Call For Urgent Collaboration On Fintech Risks

Reuters

“Technology-enabled innovations bring a new set of risks to the financial system, both conduct and prudential,” said the group of Chairmen & CEOs from some of the world’s largest financial institutions, investors and regulators, brought together by the World Economic Forum.

The group’s steering committee includes HSBC Chairman Douglas Flint, DTCC CEO Michael Bodson, Deutsche Bank co-CEO John Cryan, UBS Chairman Axel Weber, DB1 CEO Carsten Kengeter and Algebris Investments CEO David Serra.

 

Fidessa Defines A New Approach To Fintech Innovation – New Paper Explores Systemic Advantages Of Larger Firms In Capital Markets

MondoVisione

Products

HKEx Announces Plans For Additional RMB Currency Futures

HKEx

HKEx plans to introduce additional Renminbi (RMB) currency futures in Q2 of this year.

 

Nasdaq BWise GRC Platform Selected By State General Reserve Fund For Enterprise Risk Management

Nasdaq

Nasdaq BWise announced that it has been selected by State General Reserve Fund (SGRF), the largest sovereign wealth fund in the Sultanate of Oman, to support their enterprise risk management (ERM) processes based on the principles of the COSO ERM methodology.

 

NYSE Amex Options Launches Binary Return Derivatives (ByRDs)

BUSINESS WIRE

NYSE Amex Options platform of the NYSE MKT exchange will commence trading of Binary Return Derivatives (ByRDsSM) on April 21. ByRDs are a new listed equity options product with limited profit potential and defined risk for both buyers and sellers. NYSE Amex Options is the first exchange platform to offer ByRDs on equities and ETPs to retail investors.

 

Interactive Data’s Continuous Evaluated Pricing & Liquidity Indicators Services Now Available To FactSet clients

ICE

 

ESMA Adds Credit Derivatives To Its Public Register On EMIR

MondoVisione

ESMA has published an update of its Public Register for the Clearing Obligation.

Indexes

Eurex & KRX Extend Cooperation

DB1

Eurex & Korea Exchange (KRX) signed a contract in KRX’s Seoul Office to extend their cooperation by listing Mini KOSPI 200 index futures during Eurex trading hours. In addition, Euro STOXX 50 futures will be traded and cleared in Korean Won on KRX during Korean trading hours.

Career Paths

CBOE added Pamela Culpepper to its management team as Chief HR Officer. Culpepper reports to Alan J. Dean, EVP & CFO, CBOE. Culpepper’s appointment followed the retirement of Deborah Woods, VP, HR, who retired at the end of February after 19 years with CBOE.

Finance Magnates reports that Bats hired Jonathan Watras as its newest Director of FX Sales, who steps into his role with immediate effect.

The Polish Financial Supervision Authority (KNF) at its meeting on 19 April 2016 approved the change on the Management Board of the Warsaw SE (GPW) through the appointment of Paweł Dziekoński as VP of the Management Board.

SR Labs announced that Kevin Fellows has re-joined the company in a senior pre sales engineering role. Based in New York, Kevin will report to Dave Carson, Head of Global Sales Engineering.

Other members of the team who have re-joined during the past year include Dave Carson himself and Greg O’Hara as Development Manager.

Financial Calendar

19 – 20.04 – ICDA Blockchain Conference

20.04 – SGX Q3 Results FY2016  

21.04 – I-Cham Breakfast, in Dublin, Ireland, Guest Speaker Patrick L Young discussing investment in CEE & SEE markets  

New! 12.05 – Oslo Børs VPS Holding ASA AGM

New! 26-28.09 – CBOE Risk Management Conference (RMC) Europe – press release

All forthcoming exchange / investment related events are now listed in our Events page.

Analyst Notes

Deutsche Bank Reissued “Buy” Rating On CME – $112.00 Target Price

NASDAQ OMX “Buy” Rating Restated By Deutsche Bank

Deutsche Bank Maintained “Hold” Rating On CBOE – $65 Price Target

A full table of current analysis can be found on our Analyst Ratings page which is updated daily.

Other stories

AgriClear To Partner With Nebraska’s Sandhills Cattle Association

TMX

AgriClear, a partnership with TMX Group and NGX, a wholly-owned subsidiary of TMX, and North America’s premier online transaction and payment platform for cattle buyers and sellers, announced a collaborative arrangement with The Sandhills Cattle Association (SCA), based in Valentine, Nebraska.

 

ASIC Welcomes Significant Reforms

MondoVisione

 

NZX Regulatory Agenda 2016 Published

MondoVisione

 

HKEX CEO Charles Li – Latest Charles Li Direct: The New Journey Of Hong Kong’s Financial Markets

MondoVisione

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