FEBRUARY 10 2017

Exchange Invest ends the week at Issue 930 and that’s another high point for Porsche* as it coincides with the simply magnificent Porsche 911 Turbo which had the 930 type number. You may not care about the minutiae of Appendix J or other homologation rules as they swapped and shuffled from the Paris offices of the FIA during the 1970’s but the 930 was the product of Porsche wanting to homologate some simply incredible endurance racing cars…which we’ll encounter next week. Woo hoo.

*NB Readers who have driven early 930’s may note the cars were not merely stunningly fast but also had significant turbo lag issues, alongside the same traditionally twitchy chassis (but now oozing power in extremis). They were known by some US drivers as the “widowmaker” – which just goes to show how “generation snowflake” had origins during the 1970’s. If Porsche had produced this car in the mid-1960’s, drivers would have said “it’s a bit twitchy!” and got on with wrapping themselves around lamp posts without further complaint.

In Today’s Exchange Invest

Great numbers from BATS, good numbers from Reuters, interesting product news while a very interesting development at NASDAQ is a possible new structure to direct investment outwards towards suitable fintech ventures.

ZImbabwe SE CEO looks in difficulties while UK Sinha comes towards the end of his Sebi tenure.

And there’s more, happy scrolling:

In BigWorld

News drifts in that TJ Maxx are pulling Ivanka Trump’s clothing line from sale – who next? Will Filene’s Basement get all politically choosy too?

Public Markets

Nasdaq Plans Venture Arm To Invest In Financial Technology : Sources
Reuters

PLY: Fascinating idea, I like it. The amount of cash allocated will be significant as will be the management and indeed the general aura surrounding the concept. NASDAQ needs to ensure it is a fair and not short term earnings-driven partner as well as showing that it isn’t in the business of merely exploiting ideas that may be contiguous to existing business units but rather building new entities outside with judicious input. If NASDAQ can do this then I am sure some great ideas will flow to it. There is certainly considerable scope for NASDAQ to broaden its offering and to leverage the overall brand as well as being able to provide pure technology mentoring etc. Most significantly it may help NASDAQ get to the next level. A good idea, now for the execution to see if proof pudding and eating follows logically.

BGC Partners Q4 & FY 2016 Financial Results
BGC

Bats Reports Fourth Quarter Net Income Growth Of 50% – Sets Record For Full Year 2016 Net Revenue Of $436 Million
MondoVisione

PLY: Great numbers in perhaps the last quarterly report from BATS as an independent entity.

Thomson Reuters Posts Higher Than Expected Fourth-Quarter Profit
Reuters
Thomson Reuters Reports Fourth-Quarter And Full-Year 2016 Results
Reuters

PLY: Reuters still alive and perhaps even kicking on these numbers.

BGC Partners Announces Confidential Submission Of Draft Registration Statement For Proposed Initial Public Offering Of Its Real Estate Services Business
BGC Partners

Why CME’s Duffy Isn’t Worried About Trump
Crain’s Chicago Business

Gain Capital Will Pay Up To $500 Per Each FXCM’s Transferred Account
Finance Magnates

#Pricey

Plus500 Acquires South African Financial Services License
Finance Magnates

PLY: I fear the Han Solo rule applies to this venture but time will tell.

Private Markets

Kuwait’s Stock Exchange To Modernize In Bid To Lure Investors
Bloomberg

Government Pleased With Success Of Junior Stock Exchange – PM
Government of Jamaica, Jamaica Information Service

Nation’s 1st Trucking Futures Exchange Business Moving To Chattanooga
WTVC

Dalian Commodity Exchange Implements Requirements Of Central Government’s Policy Document
MondoVisione

Special Section: FTI, NSEL, India at the Crossroads

NSEL Scam: Sebi Readies Action Against Brokers, Sees No Ponzi
Moneycontrol.com

PLY: Execution required…

Technology

IOSCO Report Calls For International Cooperation To Face Regulatory Challenges Posed By Fintech
EconoTimes

LSE Postpones Introduction Of Delayed Data Fees
www.waterstechnology.com

Products

Traditionalists & Reformers Debate Risks, Opportunities In Different Approaches To LME’s Date Structure
Metalbulletin.com (subscription)

Tocom President Says No Plan To Tighten Regulations On Rubber Trade
Reuters

Wall Street Still Can’t Figure Out How To Make Money Off Snow
Fortune

Career Paths

Zimbabwe: Alban Chirume Faces ZSE Chop
AllAfrica.com
Zimbabwe Capital Market Bosses Sleep On Duty
The Zimbabwe Daily

Will UK Sinha Exit Sebi With A Bang?
Livemint

PLY: Sebi Chairman enters what is likely the last phase of his term in office.

Managerial Changes In Amman Stock Exchange
Mubasher Info

Former U.S. Treasury Official & Board Chairman Of NCUA Join OpenDoor Team
MondoVisione

World Gold Council Appoints John Reade As Chief Market Strategist
MondoVisione

FINRA Promotes Marcia E. Asquith To EVP, Board And External Relations – And Jennifer Piorko Mitchell To VP, Corporate Governance
FINRA

Crowdfunding

Interview: Ivalyo Ivanov, Ceo Of Iuvo Group
P2P-Banking.com

Iuvo is the first South-East European P2P platform that allows its users to buy parts of loans.

Other Stories

ESMA Revises MiFID Standard On Position Reporting
ESMA

EBA Publishes Final Draft Technical Standards On Exclusion From CVA Of Non-EU Non-Financial Counterparties
EBA

Thanks as always for reading Exchange Invest and yes, Porsche fans, next week’s highlights range from the best of wheel arch extensions and recognisable road cars to perhaps silhouette racing’s finest machine…

Have a great weekend. Oh to Maltese readers, enjoy the Feast of St Paul’s Ship wreck!

Best wishes,

Patrick

Patrick L Young
Executive Director DV Advisors

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