Competition continues to grow everywhere and indeed the opportunity at the lower end of the food chain remain fascinating…not just in crowdfunding!
Here are today’s stories:
The software glitch that shuttered the Chicago Board Options Exchange for several hours on Thursday “cropped up unexpectedly,” CBOE Holdings CEO Bill Brodsky told CNBC television on Friday.
The shutdown was the latest blow to confidence in the way U.S. financialmarkets operate. It prevented trading in options on two of the stock market’s most closely watched indicators throughout Thursday morning.
Chicago Board of Options Exchangestaff knew of problems with software hours before the glitch caused a half-day outage, but they thought they could fix them, the Wall Street Journal reported on Friday, citing people briefed on discussions.
CBOE officials have been looking into whether the exchange should have moved to its backup trading system instead of relying on staffers’ ability to get the main system online, the report said.
The Trade News
Hong Kong is gearing up to challenge Singapore’s regional dominance in OTC derivatives clearing.
Hong Kong Exchanges & Clearing (HKEx) CEO Charles Li informally announced Thursday that the exchange would begin clearing OTC derivatives next month following approval from regulator the Securities & Futures Commission (SFC). Earlier this month 12 banks and brokers joined HKEx’s central counterparty (CCP) OTC Clearing Hong Kong as founding shareholders collectively with 25% of the clearer’s share capital, with HKEx owning the remainder.
Xin Hua Merchandise Exchange, which is offering fuel oil and methanol as its first batch ofcommodities, was launched on Saturday in Daqing, with the aim of developing into an influentialspot trading platform and help China gain a bigger say in the international oil market.
The exchange is controlled by Xinhua News Agency and co-sponsored by Daqing municipalgovernment, and Guangdong Zhenrong Energy Co Ltd (GDZR), a State-owned companyspecializing in energy and natural resources commodities.
The Stock Market Watch
HKEx Chief Executive Charles Li told the media that will soon launch cash-settled commodity contracts based products, and to explore with other exchanges, especially cooperation in the Mainland opportunities.
The European Energy Exchange (EEX) will launch trading in Guarantees of Origin for Green Power on 6 June 2013. Guarantees of Origin are certificates which prove that a given megawatt hour of power was generated from renewable resources.
The Herald | HeraldOnline.com
BSX Commemorates the Upgrade of the BSX exchange technology platform to NASDAQ OMX’s state of the art trading system, X-stream
The Bermuda Stock Exchange (BSX) will celebrate the upgrade of the BSX exchange technology platform to NASDAQ OMX state of the art trading system, X-stream, by opening the NASDAQ at the Nasdaq MarketSite in Times Square in New York City, NY on Monday, April 29, 2013.
Thai bourse has revamped its electronic trading portal www.settrade.com with more information and functions to help it more effectively cater to the demand of new online investors while still being a complete information center for finance and investment. The refurbished site is now much easier and faster to access, with timely updates through all social media.
CME Group, the dominant exchange in global grains and oilseeds trading but not prominent in coffee, cocoa and sugar, said on Friday that it has hired two soft commodity specialists.
Peter Blogg and Eric Hasham had in the past worked on soft commoditycontracts for NYSE Liffe, the commodity trading arm of NYSE Euronext. These contracts include cocoa, coffee and sugar.
Creating a website for your independent crowdfunding campaign is just the first step. Set a goal and a deadline, and then decide how funds will be allocated – will you keep all the money raised, even if the goal is not met? Will you do an all-or-nothing campaign to create a sense of urgency for donations? Will you give gifts to people based on donations? How will you accept payments – will you allow backers to use asmall business credit card, PayPal, or a combination of payment options?
The Daily Dot
These are the early days of crowdfunding local public projects. (Think of it as holding Internet bake sales for anything from a hiking trail to a bookmobile.) But already a number of organizations and companies have launched funding platforms to allow people with a civic goal to gather money for it online. While the problems with such platforms are many and daunting, some progress has already been made.