ICE will end the year having closed two acquisitions in quick succession. Clearing the decks for some serious deals in 2016?
EBRD completes 10% investment in BIST as Istanbul eyes a large Pakistan exchange stake. Welcome to Monday’s Exchange Invest, happy scrolling:
ICE completed its acquisition of Trayport from BGC Partners & GFI for approx $650 million, approx 2.5 million ICE common shares.
PLY: Last week I was impressed with the speed of conclusion of the IDC transaction. The Trayport acquisition announced November 16, 2015, has been closed even faster. Are ICE just focussed on year end clearing? Well I wouldn’t bet on it. The New year could yet bring a lot of pent up deal flow. (Presumably LSE will continue to dream of an ICE acquisition, although I am not sure that is top of the list for The ICE). QV Premium: Exchange Deals Brief.
EBRD & Borsa İstanbul (BIST) have agreed Friday to the acquisition by EBRD of a 10% shareholding in the stock exchange. QV Premium: Exchange Deals Brief 2.
PLY: Finally a fully completed deal in the original ‘cornerstone’ round where no other funds appear to have invested – or at least so far…albeit over a year after the process began.
Discussions ongoing, no assurances of a definitive agreement.
In addition, as previously stated, FXCM’s BoD has authorized a stock repurchase program of up to $130 million, of which $65.8 million remains. QV Premium: FXCM Stakes Sales Brief.
Victor Golovtchenko – Finance Magnates
PLY: As I mentioned Friday. QV Premium: Plus500 Turmoil & Deal – Brief – Part 2.
Huw Jones – Reuters
EU’s executive body has postponed for the fourth time imposing tougher capital requirements on banks from the EU that pass derivatives through non-EU clearing houses.
The six-month extension runs to 15 June, 2016.
The plunge in the value of investments on the JSE in the two days after President Jacob Zuma fired finance minister Nhlanhla Nene will have a longer term effect on the stability of the economy…
PLY: An air of turmoil in ZA after a long period of hyper-average government.
Tim Cave – Financial News
IEX Group, has called on buyside firms to petition regulators to back its regulatory application.
More about IEX here.
Fiona Maxwell – Risk
Banks that found a way to remove billions of dollars of cash from their balance sheets have been sent a list of questions by CFTC. The tactic is used to reduce the impact of the leverage ratio on clearing businesses.
The Mumbai-based India Bullion and Jewellers Association (IBJA) will hold 70% of the planned gold exchange (reported last week), while BSE will own the remainder, said Saurabh Gadgil, a VP at the trade body.
Kazim Alam – Tribune
With the merger of Karachi, Lahore and Islamabad, a single platform, the Pakistan SE (PSE) will become operational from December 28. QV Premium: Pakistan Exchanges Merger Brief.
Borsa Istanbul (BIST) has shown interest in the acquisition of 40% strategic stake in the upcoming Pakistan SE.
Kuwait Bourse Company will begin managing the Kuwait SE (KSE) as of April 25.
Lokeshwarri SK – The Hindu Business Line
If SEBI really wants stock exchanges to list, it should stop putting hurdles in their way.
PLY: Yip yip & thrice yip.
Andy Greenberg – Wired
When Wired named Craig Wright last week as the most likely suspect to be Satoshi Nakamoto, the mysterious creator of bitcoin…
Special Section: FTI, NSEL, India at the Crossroads
PLY: MCX down 2.5% while FTIL is apparently in the stratosphere up nearly 18%! (Unclear why, as we race to pixel).
Ian Kar – Quartz
The US robo-advising industry could balloon to $5-$7 trillion assets under management (AUM) by 2025.
PLY: SPIMEX prepares Russian benchmark.
Luke Jeffs – FOW
14.12 – Record date NASDAQ $0.25 quarterly dividend
14.12 – Interactive Brokers $0.10 quarterly dividend payment
15.12 – Thomson Reuters $0.335 quarterly dividend payment
16.12 – Record date ICE $0.75 dividend
16.12 – CFTC – Open Commission Meeting (press release)
18.12 – CBOE $0.23 quarterly cash dividend payment
New! 25.01.2016 – ESMA Open Hearing For Validation And Review Of CRA Methodologies (press release)
All forthcoming exchange / investment related events are now listed in our Events page.
P2P lender Zopa is reportedly planning another round of fundraising that could see its valuation exceed £500 million.
Noah Buhayar – Bloomberg