Slightly more pith today with a few extra meds fuelling some sense of coherence…
In Today’s Exchange Invest
Cinnober sells to first property exchange, EBRD announces Jordanian capital markets plan, BSE to offer free GIFT rack. In a market clearance, NSE US and Credit Suisse Lightpool are both closing.
And there’s more, enjoy the scroll:
Events
HugeThing VC demo day today for their FinTech Programme where I am a mentor, in Warsaw, Poland.
In BigWorld
Apparently Well Fargo has failed its living will test which will presumably only encourage some staff to create a few phony internal living wills to make it all look fine?
Public Markets
Finance Titans Face Off Over $5 Trillion London Gold Market
Bloomberg
PLY: A roundup of most of the current initiatives in the Gold market for new platforms / exchanges but leaving the question unanswered: how much of the trade is actually gold and how much just bits of paper with attitude?
Spreadbetter CMC Markets To Consider London HQ Move Over FCA Crackdown
City AM
PLY: As if the other, even less financially literate regulators will be better other than, say Cyprus where surely reputational issues collide with the situation…
Derivatives, Not Nationalism, Could Derail The LSE Deal
Evening Standard
PLY: A dearth of insight on the topic of clearing from a clearly out of his depth journalist. However at least he doesn’t just toe the myopic LSE line like too many mediocre London financial hacks.
DFM Organizes Training Program For Employees Of Seven Arab Stock Exchanges
MondoVisione
The 18-member delegation represented seven Arab exchanges and financial institutions.
Private Markets
IPSX Chooses Cinnober For Property Exchange Technology
Cinnober
PLY: A new property market is born (arguably London FOX was the first in property derivatives, IPSX is seeking to be first to market in property securities, albeit Estates Investment Exchange has previously been mentioned in Exchange Invest with a similar plan of sorts). It’s a huge market and great to see them acquiring a top notch solution from Cinnober. Terrific too to see Cinnober rounding out another great year with a new client.
BSE To Offer Free Co-Location Rack At International Exchange
Business Standard
National Stock Exchange to Close Dec. 16
Markets Media (press release) (registration) (blog)
PLY: Farewell then to the US NSE which was an exchange but barely a national entity.
Lights Out For Credit Suisse’s ‘Light Pool’ Stock Trading Venue
Reuters UK
PLY: Crossfinder lives but Lightpool dies…sounds almost like a line from Star Wars Rogue One.
Special Section: FTI, NSEL, India at the Crossroads
Bombay HC Hears Arguments Against NSEL Merger Order
Economic Times
Technology
IPSX Chooses Cinnober For Property Exchange Technology
Cinnober
Products
Producers Air Dissent On CME Discount
Tri-State Neighbor
PLY: The concerns of cattlemen.
CERC Admits IEX Plea Seeking Launch Of Renewable Energy Contracts
Business Standard
PLY: Indian Energy Exchange in this IEX instance…
Russia, Iran Working on Launching Currency Pair Trading – Russian Central Bank
Sputnik International
PLY: Maybe not the pair we all thing of first thing in the morning but there can be some depth here and it’s a good example of the granularity of globalisation whether America is engaged directly or not…
Indexes
JSE Proposes Changes To Property Indices
Moneyweb.co.za
FTSE Russell Introduces FTSE TMX Canada NVCC Bond Index
Russell Investments
Career Paths
After 5 and a half years (often, some might argue, a tricky point for liquidity: off the run but on the curve), Chief Business & Product Development Officer Kevin Wolf has left Eris Exchange to join ViableMkts.
PLY: I wish Kevin every success in the future and applaud his role in making Eris the success it is today.
Crowdfunding
Irish Blockchain FXCH Chooses Seedrs for Crowdfunding Campaign
Crowdfund Insider
Other Stories
CFTC’s Giancarlo: How US Regulators Can Boost Blockchain in 2017
CoinDesk
EBRD And Jordan Securities Commission Present Capital Market Strategy For Jordan
MondoVisione
PLY: A fascinating hub and at the moment truly a sort of bulwark between civilisation and chaos thanks to its geography, there is much that can be done to improve the Jordanian marketplace and the EBRD are ideally positioned to assist.
RIP NSE & the CS ‘Lightpool’; hello to Cinnober powered IPSX.
Have a great day.
Patrick
Patrick L Young
Executive Director DV Advisors