DECEMBER 13 2016

elb2 I am upgrading my health status from “well kept grave” to just “decidedly sickly” – thus I will endeavour to claim any errors and omissions are the fault of the medicines currently influencing me…

In Today’s Exchange Invest

Brussels to narrow probe to just CCP issues with DB1-LSE? NASDAQ fined by Swedish regulator, JSE withdraws action against 4AX, hopefully enabling competitor exchange to enhance South African market structure.

Events

HugeThing VC has their demo day tomorrow for the FinTech Programme where I am a mentor. Not a lot else other than typically festive prandial excess.

In BigWorld

Interesting to note how Donald Trump’s cabinet has made considerable progress towards being filled. To read the legacy media you would think it was anarchy or something.

Public Markets

Brussels Narrows LSE-Deutsche Börse Probe To Derivatives Clearing
Financial Times

PLY: Lots of media tosh on the topic which was first reported above by the EU house newsletter. Clearing ought to be the primary focus although a whitewash of all other aspects would appear surprising. Nonetheless, this is an egregious monopoly proposition and the EU must preclude the concentration of business in one group.

German Plot To Move LSE: Politicians Want Deutsche To Junk Pledge To Keep 215-Year-Old Institution
This is Money

Swedish Financial Supervisory Authority: Remark And Administrative Fine For Two Companies In The Nasdaq Group
MondoVisione

Nasdaq Clearing Aktiebolag receives a remark and a sanction fine
Nasdaq Stockholm Aktiebolag receives a remark and a sanction fine

PLY: Swedish regulator underwhelmed at various aspects of NASDAQ preparation for cyber attacks etc in Scandinavia, levies quite lumpy fines in the 2.7 million dollar range.

How Was Blackstone’s Exit From Commodity Bourse MCX
VCCircle

JSE Withdraws Appeal Against Newcomer 4AX
Independent Online

Durban – The JSE on Friday withdrew its appeal on the award by the Financial Services Board (FSB) of an exchange licence to 4 Africa Exchange.

PLY: Good.

Private Markets

India’s NSE Must List Sans Hubris
Bloomberg

PLY: A rather brutal skewering of some of the exceptionalism which has crept into the NSE enterprise over the years.

Dubai’s DFM launches IPO Communications Guide
Zawya

Taiwan’s Equity Clearing House Signs MOU With Iranian Counterpart
Focus Taiwan News Channel

Karachi Stock Exchange CEO On Planned Stake Sale
Bloomberg

Nadeem Naqvi, Karachi Stock Exchange CEO, discusses the exchange’s planned stake sale.

Special Section: FTI, NSEL, India at the Crossroads

No news today.

Technology

CME Clearing Joins IHS Markit’s Netting Synchronization Service
www.waterstechnology.com

Products

Warehouse Receipt Financing, A Game Changer For Agribusiness
The New Times

DGCX & Chinese Gold And Silver Exchange Sign MoU To Boost Precious Metals Market Development
MondoVisione

Nasdaq Nordic To Launch Auction On Demand – Alternative To Over The Counter Trading And Designed To Meet MiFID II Requirements. Available June 7, 2017, On All Nasdaq Nordic Exchanges
MondoVisione

Indexes

Bats Launches New Benchmark Indices For French, German, Italian And Swiss Markets – Following Successful Launch Of UK Indices In June, Bats Expands Real-Time Benchmark Indices To Continental Europe
BATS

Career Paths

Euronext has confirmed the departure of Maria Joao Carioca as CEO of Euronext Lisbon having been asked by the Government of Portugal to join the Management Board of Caixa Geral de Depósitos.

PLY: I am sorry to see Maria leave as I thought she offered considerable advantage to the Euronext organisation. I wish her every success with this exciting new position.

SEC Names Dr. Narahari Phatak Associate Director For Policy In The Division Of Economic And Risk Analysis
SEC

Wall Street’s Old, Unwanted Bond Salesmen Find A Home In Chicago
Chicago Tribune

Crowdfunding

Crowdfunding Proponents Blame Regulators For Slow Growth
The Globe and Mail

Canada’s crowdfunding industry is “punching below its weight” compared to international markets, says a new industry report, which blames in part the regulatory environment.