Even the Bundesbank is worrying about the too big to bail/fail CCP business which would be the monopoly DB1-LSE as derivatives users worry about collateral roving costly – but not in the conventional economic sense… MCX and MSEI secure out of court agreement on warrants. With 14.99% of MSEI, MCX is well-positions, if, MSEI can survive and thrive. TMX may help BRVM with a West African Mining Exchange.
I am briefly on video briefly discussing the forthcoming CEE Capital Markets Awards & CMU summit taking place September 15th in Warsaw. The nominees have just been published too. If you are interested in CMU, you can’t afford to miss the summit while the Gala dinner is the event rewarding CEE listed companies. Prices range from from €295 for the summit, to €595 for the Gala & Summit together. Email me or follow this link HERE to sign up.
Andreas Kroener, Frank Siebelt, Jonathan Gould Reuters UK
PLY: We’re closer than ever of DB1 notifying the antitrust folks officially of its acquisition of LSE and the Merger of Equal Desperation seems to be broadly friendless beyond the exchanges’ payroll (and it’s not even clear the internal spirit is unanimous either. Bundesbank board member Andreas Dombret is clearly concerned with the contagion risks being created by a CCP monopoly under one holding company (that the holding company will dart about faster than a restive Pokemon Go creature is a separate issue). We’re 184 days in, with 167 to go until we hopefully reach what will prove to be “a safety-nyet” from antitrust (based on the NYSE-DB1 debacle).
The deal makes sense because SGX’s fastest-growing business is in commodity derivatives, shares SGX’s Head of Derivatives Michael Syn.
John Detrixhe & Richard Partington, Bloomberg
PLY: Perfect surmise in this article from Peter Lenardos of RBC: “Banks are tying up collateral that is in short supply, and that sits at clearinghouses earning them nothing, and now it may even cost them something.”
Central bankers, having created perhaps the greatest elite blob mania of all time, need to be reeled in…
PLY: Revenue up 18% with merger synergies increased, just like the best of exchange mergers…. Albeit the new business is much more diluted as an exchange entity, somewhat therefore on the cusp of the parish nowadays…
Lynsey Barber City A.M.
PLY: More on Utility Settlement Coin (USC) mentioned yesterday.
PLY: Good to see this long running dispute over warrants being resolved at last. The settlement terms will leave MCX just shy of the 15% limit with 14.99% of Metropolitan Stock Exchange of India (MSEI) from currently circa 3.9%.
Olivier Monnier Bloomberg
PLY: Very interesting: the BRVM is in talks with the Toronto Stock Exchange to set up a “technical cooperation” for a specific mining exchange.
Special Section: FTI, NSEL, India at the Crossroads
MCX up 1%, FTIL flat, no other news today…
Diana Ngo Bitcoin Magazine
PLY: The Rakuten Blockchain Lab (RBL) follows the firm’s acquisition of Bitnet Technologies, a bitcoin startup specializing in merchant payments…which was mentioned in my white paper last year “Towards A Real Time World Market.”
John D’antona jr Traders Magazine
The Chicago Stock Exchange has begun to adopt an auction structure, launching their SNAP auctions for securities…
PLY: As a big advocate for auctions myself, the most comprehensive thinking in the space I have seen is being delivered in the solutions of Perfect Channel.
As a result of Sandnes Sparebank being sanctioned for a breach of the duty to disclose inside information to the market, Chairman Harald Espedal has resigned as Deputy Chairman of Oslo Børs ASA, and Oslo Børs VPS Holding ASA. “I stand by the assessments made by Sandnes Sparebank during this process, but do not think it right for me to continue to serve on the Board of Oslo Børs when a violation charge is being imposed on a company where I am Chairman of the Board”, Espedal has said.
TMX announced the launch in September of the Advancing Innovation Roundtable, to examine ways to increase access to growth capital for companies in Canada’s innovation economy with the goal of delivering a set of actionable recommendations in early 2017 on how to successfully scale globally competitive enterprises in a variety of sectors including technology, clean technology, life sciences and advanced manufacturing. The Roundtable will be chaired by Salil Munjal, General Partner at Yaletown Partners, a private investment firm focused on financing growth-stage technology companies and have members from amongst the senior leaders of the Canadian investment community.
PLY: Great idea although it might be worth adding some international and lateral perspectives to the roundtable gene pool?
Following its senior management departures in the wake of bond conflicts of interest, Bloomberg reports LendingClub has shored up its investor group, employing Morgan Stanley former Valerie Kay to be head of institutional clients alongisde ex-Blackrocker Raman Suri heading institutional clients.
David Davies, a member of the Supervisory Board of the Vienna Stock Exchange (CEESEG AG) has been appointed as a NED by Ophir Energy.
City AM reports Elena Gaetini, formerly with DTCC as governmental affairs director & head of southern Europe / France for Deriv/SERV sales, has joined a compliance service, Risk Focus.
02.09 – MOEX EGM
02.09 – Record date Q3 CBOE $0.25 dividend
02.09 – Record date Tullett Prebon 5.6p interim dividend
02.09 – TMX $0.40 dividend payment
All forthcoming exchange / investment related events are now listed in our Events page.
A full table of current analysis can be found on our Analyst Ratings page which is updated daily.
Matt Taylor dailytelegraph.com.au
A POPULAR crowdfunding site has been exposed for misleading the public…
PLY: Fundamental due diligence failures leave a “good causes” website funding a drug crazed maniac who crippled 2 in a road accident…
Shu Zhang and Nick Heath Reuters
BEIJING Aug 24 China announced new rules on Wednesday to tighten regulation of the country’s $60 billion peer-to-peer lending sector…
PLY: The scandals have been one big issue while trying to rein in China’s lending bubble is another but both are interlinked here…