DECEMBER 23 2016

Issue 905 – in Porsche speak that is the type number of various 4 speed sportomatic transmissions…
In Today’s Exchange Invest

 

Chinese deal for Chicago SE attracts ire of US politicians while Chinese consortium buys 40% of Pakistan exchange.

 

And there’s (much) more including various key hires, enjoy the scroll:

Events

Here’s to some cracking events in 2017…
In BigWorld

 

Out there in Bigworld, it’s the festive season. That means I am downing the daily newsletter tools and will return January 9th, after at least 2 bites of the New Year cherry.

All the very best to one and all, whatever you are celebrating, I wish you a Very Happy Christmas and to you and yours, a Very Happy, Healthy, Peaceful and Prosperous New Year… onwards to what looks like a fascinating and fabulous 2017!

Public Markets

 

London Stock Exchange Group Block Trading Initiatives Ahead Of MiFID II Countdown
MondoVisione

PLY: LSE Turquoise deserves huge plaudits for the success of their block trading initiative which has been additive to volume as well as finding new pockets of blocks which previously had not been captured by the incumbents.

GFI Group Expands South African Footprint With Acquisition Of Johannesburg-Based Interdealer Broker Micromega Securities
MondoVisione

 

Private Markets
Buy-Out: Chinese Consortium Wins Bid For 40% Stake In PSX
The Express Tribune

The consortium comprises the Shanghai Stock Exchange, Shenzhen Stock Exchange and Chinese Financial Futures Exchange.

PLY: Speedy resolution, given the bids were only opened earlier this week…

Lawmakers Ask SEC To Bar Sale Of Chicago Stock Exchange To Chinese investors
Reuters

PLY: Five members of Congress unhappy at the sale, have written to SEC Chairman White, led by Representative Robert Pittenger, a Republican on the Financial Services Committee and the Congressional-Executive Commission on China, as well as Republican representatives Earl Carter and David Joyce and Democratic representatives Peter DeFazio and Collin Peterson.

Special Section: FTI, NSEL, India at the Crossroads
None of NSEL Investors Given ‘Clean Chit’ By Income Tax Dept: Meghwal
Hindu Business Line

The Income-Tax Department has not given ‘clean chit’ to any of the NSEL investors as regards sources of their investment funds in crisis-ridden NSEL.

PLY: An impressive 100% fail rate – you have to say that takes a certain kind of organisation.

 

 

 

Technology
More technology news in the New Year.

 

Products

 

Junk-Bond Investors Raise Secrecy Concerns As Issuers Snub EU
Bloomberg

PLY: The EU has shot itself in the foot, this needs to be repealed immediately to prevent further damage to the exchanges through no fault of their own.

Indexes
In the New Year, the Index section will be subsumed into the Products Section.

 

Career Paths

 

While he presumably remains the head of the working committee of the WFE (which is an organisation already currently without a Chairman post resignation of Chitra Ramkrishna at NSE), the Bill Brodsky era at CBOE is finally drawing to a close.

Reuters reports the unanimous election of Ed Tilly to serve as Chairman and CEO of the unified CBOE-BATS entity while James Boris will continue to serve as lead director.

William Brodsky (Chairman), Susan Phillips and Eden Martin will all step down from board upon closing of CBOE holdings acquisition of Bats Global Markets.

PLY: Good luck to Bill Brodsky as he moves on from his long goodbye at CBOE.

LME Clear has named James Proudlock as Deputy Chief Executive of LME Clear, (joining from JPM).

NZX has announced the appointment of Jeremy Anderson as Head of NZX Agri effective 1 March 2017.

Zubin Ramdarshan and Lee Bartholomew have joined Eurex in product development roles with Ramdarshan (ex-Cantor Fitzgerald focussing on equity and index products while Bartholomew, who was responsible for developing RBC’s flow structured rates business, will work on fixed income products.

Crowdfunding
Next update in the new year.

 

Other Stories

 

EIF & European Commission Launch New Capacity Building Initiative For Micro-Credit & Social Finance Providers
New Europe

Once again have a great festive season and all the best to what looks like a fascinating 2017!

Thank you for reading.

Patrick

Patrick L Young
Executive Director DV Advisors

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