August 29 2016

elb2Back in the world of listed equities, my first one minute video briefly discussing the forthcoming CEE Capital Markets Awards & CMU summit taking place September 15th in Warsaw. Nominees published here. 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.

 

Today in EI, HFT MM IMC being investigated in China worrying warehousing in India (again), the bad taste left by the post 2008 regulatory mess (various mentions) as well as a case for living wills in CCPs…and there’s more:

Meanwhile in Bigworld, the F1 circus raced at Spa with leader Lewis Hamilton suffering so many qualifying penalties that his third place finish yesterday was all the more remarkable as I think he only starts tomorrow.

 

To those in the UK, enjoy the rain and the traffic jams of the long weekend…

 

Public Markets

 

LCH: CCPs Need Living Wills

The Trade

 

PLY: Which raises the question of just who might be left standing in Europe to process the living will of a merged DB1-LSE with its almost total monopoly on Eurozone clearing

 

MAGGIE PAGANO: ARM Holdings’ Big Takeover Test

This is Money

 

PLY: Discussing the new article 19.7 of the UK takeover code – it probably doesn’t immediately protect the UK or LSE against DB1 as the Merger of Equal Desperation is predicated on cost cutting (and little else now the juvenile claims of margin reductions have been broadly debunked for all except a denialist few).

 

Hopes on the rise as Shenzhen-HK Connect Start Date Nears

CCTV

Preparation In Progress For Shenzhen-HK Stock Connect

Xinhua

 

HK Regulator Wants a Tighter Grip On IPOs In Blow To HKEx

Hong Kong Herald

 

Dutch HFT IMC Sees Scrutiny From China Securities Regulator

Wall Street Journal

IMC In China Stock-Index Probe

China Daily

 

PLY: IMC being investigated in China…

 

Rollout Of Final Derivatives Rules Leaves Patchy Picture Of Risks

Huw Jones Reuters

 

Private Markets

 

Russian ‘NASDAQ’ Eyes Asian VC

Russia Beyond the Headlines

 

PLY: Interesting development in Russia’s Far East, using infrastructure honed at RTS…

 

Alarm As Companies Pull Out Of KSE

Kuwait Times

 

Continuing withdrawal of companies from KSE has unnerved investors.

 

Special Section: FTI, NSEL, India at the Crossroads

 

NSEL-FTIL A Forced Merger?

Modern Indian Economy – Blogger

 

PLY: A brief introduction to the story so far…

 

NSEL: Former FMC & MCX Chairman Venkat Chary Not Probed By CBI

Livemint

 

PLY: In the whacky parallel universe of NSEL investigation, the former MCX chairman & former FMC Chairman, Venkat Chary has offered assistance to CBI investigators but was not asked…

 

Technology

 

Why America’s Newest Stock Exchange Is Preparing For Failure

Business Insider

 

PLY: Interesting tales of redundancy & competitive systems…

 

Legal Experts: Mifid II DEA Definitions Unclear

FOW magazine

 

PLY: As good an indicator as ever that actually the EU single market in finance relies hugely on localisation of markets…

 

Blockstream Won, Says Bitcoin Miner in Blocksize Debate

CryptoCoinsNews

 

PLY: The politics behind the world’s most famous ditributed ledger are complex and indeed one might add – how many financial consortia members really follow all the protocol issues? I know I don’t but I see enough to make me very wary that once again a careerist few are railroading a bandwagon with little comprehension of what they do when the music…actually pauses and shuffles, it doesn’t even have to stop!

 

Products

 

AccuShares to Shutter Its Four ETFs, Re-Brand as FinTech Firm

ETF Daily News

 

PLY: Fascinating pivot: it may be the intellectual property portfolio acquired to fuel the pivot is in fact going to engineer a return to the ETF market in some way…

 

CME Director Talks Cattle Futures

Great Falls Tribune

 

PLY: In the wake of recent volatility qv August 22nd EI

 

Reforming Poland’s Renewable Industry

Renewable Energy Focus

 

NCDEX Problems With Cottonseed Oil Cake, Coriander Quality

Daily News & Analysis

 

NCDEX has once again come under the scanner of the capital and commodity market regulator ..

 

PLY: The ongoing failures of warehouses is quite a remarkable story in India – at least I suppose things are improving as, unlike with NSEL, at least the warehouses exist…but still they seem to be capable of taking in substandard product.

 

Career Paths

 

ICE Clear Europe COO Gibson to retire

FOW magazine

 

PLY:  I wish Mike Gibson a very happy retirement, he was an asset to LCH before he co founded the ICE Clearing House in Europe which under Paul Swann’s command has gone on to many bigger and better things.

 

Changes To The Monetary Authority Of Singapore Board Of Directors

MondoVisione

 

Mr Ong Ye Kung, Acting Minister for Education (Higher Education and Skills) and Senior Minister of State, Ministry of Defence, will be appointed to the Board (term of appointment will be from 29 August 2016 to 31 May 2019) while Mr Lawrence Wong Shyun Tsai, Minister for National Development, will be stepping down from the MAS Board on 29 August 2016 having been appointed on 10 June 2011, and has served as an active member of the MAS Board for more than five years.

 

Hyperledger Blockchain Project Elects New Tech Committee

CoinDesk

 

PLY: Amongst the parishioners elected to the committee, are LSE principal architect Greg Haskins; DTCC senior enterprise architect Murali Krishna Katipalli.

 

IEX are looking for a strategic communications professional in New York – your chance to get in as the exchange develops: Strategic Communications

 

Meanwhile ICAP is looking for a Global Talent Coordinator  and the Inter-Connected Stock Exchange of India is looking for a Senior Executive in the Listing department.

 

Nat Hoopes, formerly the Executive Director of the banker-centric Financial Services Forum, has been appointed Executive Director of the MarketPlace Lending Association, representing the major P2P debt platforms in the USA, according to Crowdfund Insider.

 

Financial Calendar

31.08 – HKEx 2016 Interim Results

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

19.09 – new – MCX India AGM September 19th

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

 

Crowdfunding

 

Free of Charge: StartEngine Eliminates Fee to Crowdfund Under Reg CF

Crowdfund Insider

 

PLY: So your crowdfund is free BUT you have to commit to having your follow on Crowdfund rounds on the platform… Very interesting approach.

 

Faircent Breaks Into A New Market, Builds A Brand

Business Standard

 

PLY: Faircent, a two-year-old online peer-to-peer lending (P2P) platform, has become the only alternative lending medium to secure a place in the 2016 Interbrand Global Breathrough brand list…essentially through word of mouth in India… That’s ‘Web whatever point zero’ for you. It’s not just Blockchain, the world itself is pivoting and parishioners remain analogue in thought at their peril.

 

Lending Club Responds to Bloomberg Article: Scott Sanborn

Bloomberg

 

In response to: “How Lending Club’s Biggest Fanboy Uncovered Shady Loans” (Aug. 18):

 

There’s No Justifying Their Fees’ – Fundraising Site GoFundMe Makes Over €200k In Profit From Irish Projects

Irish Independent

 

PLY: A curious case of summer journalism to get a few clicks where nobody bothered checking the simply extortionate cost of raising money through other means…

 

P2P Lending Regulation Welcome Move

South China Morning Post

 

PLY: Frankly I think China’s financial stability rests on much else besides the P2P business but it did need some sort of better regulatory approach too!

 

Other Stories

 

Closing Calls Good For UAE Markets – University Of Wollongong Study Shows Dubai, Abu Dhabi Market Quality Improved

MondoVisione

 

Abu Dhabi: Abu Dhabi Alex Frino CMCRC Research

Dubai: Dubai Alex Frino CMCRC Research

 

PLY: Great research from the CMCRC centre shows that auctions are good for you – as indeed also much discussed last week

 

Maybe We Clamped Down Too Hard On Finance

Chicago Tribune

 

PLY: More evidence grows for my thesis of a year and more back that we are moving to an exciting new era of financial deregulation – albeit there may be a hiatus in the US depending on what happens after the next Presidential elections

 

Rackspace To Go Private In $4.3 Billion Deal

Nasdaq

 

Cloud-computing provider Rackspace Hosting Inc. is being taken private by private-equity firm Apollo Global Management LLC for $4.3 billion.

 

PLY: Relevant to the parish because this may shake up the data centre / hosting market…

 

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