Apart from my Brexit files in Premium: Brexit – Main File, here are a few remarks I made last Saturday in Berlin on the topic (interview in English): Brexit: London wird keine großen Veränderungen sehen.
BM&FBovespa Buys BVC Stake in Integration Push
Christine Jenkins & Denyse Godoy – Bloomberg
BM&FBovespa became the top shareholder of the Bolsa de Valores de Colombia (BVC) buying 9.99% for 44 million reais ($13 million). The bourse has said it wants to play a role in the financial integration of Latin America, and it has already purchased minority stakes in Chile’s Bolsa de Comercio de Santiago and Mexico’s Bolsa Mexicana de Valores SAB.
QV Premium: Exchange Deals Brief – Stake Changes & MILA Exchanges Brief.
PLY: Interesting. The WFE AGM is in Cartagena Columbia this year btw.
LSE Gets U.S., Russia Nod For Brexit-Clouded DB1 Merger
LSE said on Thursday that U.S. and Russian authorities had approved its $27 billion merger with DB1, giving it the first set of regulatory clearances needed to create a European exchange giant.
PLY: The big question is when the Europeans say no.
DB1 Said To Push Frankfurt Clearing In Case For LSE
John Detrixhe & Aaron Kirchfeld – Bloomberg
Carsten Kengeter’s push to win over German officials and investors comes amid a post-Brexit tussle between European leaders over which city should become the new hub for clearing euro-denominated trades. Much of that clearing currently happens in London, but the U.K.’s eventual departure from the European Union has put that business up for grabs, with cities like Paris wrangling to win it.
PLY: Well if this is true it suggests Carcrash doesn’t understand what he is talking about, or that he is willfully willing to manipulate the facts to get his wretchedly ill-conceived deal done. Neither infers confidence in DB1 but the stench of desperation appears somewhat significant.
QV Premium: DB1-LSE Merger Brief.
DB1 Reports Passive Stake Of 10.2% In BATS
PLY: Arising from the Direct Edge stake of ISE as I recall.
ESMA Publishes The Responses To Its Consultation Paper On Technical Advice On Benchmarks Regulation
EuroParl: ECON Committee Satisfied That VP Dombrovskis Is In A Position To Assume The Financial Stability, Financial Services & CMU
QV Premium: EU CMU Brief.
Putin Grants Foreign Firms Direct Access To Commodities Trading On Russian Exchanges
Russian President Vladimir Putin has amended the law to grant foreign firms direct access to commodities trading on Russian exchanges, according to a SPIMEX statement.
British Land Invests In Start-Up Property Exchange (subscription)
Judith Evans – Financial Times
London-based IPSX is preparing to apply for fully regulated exchange status and hopes to open its doors for trading early next year. It will list single-asset companies holding buildings worth about £30m or more as “a proxy for direct investment in property”.
PLY: No valuations disclosed from this, one of several property exchanges in the works in the UK.
Coupling of Austrian, Slovenian Power Markets Postponed Until July 21
Mitsubishi UFJ Financial To Invest In Bitcoin Venture Coinbase (subscription)
Atsuko Fukase – Wall Street Journal
Mitsubishi UFJ Financial Group is stepping into the bitcoin world by investing in Coinbase.
To ramp up operations in Asia, Coinbase is set to raise about $10.5 million from investors on Friday including MUFG’s core banking unit and an MUFG venture-capital fund.
Special Section: FTI, NSEL, India at the Crossroads
PLY: MCX flat to small up, FTIL down 1% after yesterday’s leap.
68 NSEL Scam Accused To Appear Before PMLA Court On 18 July
Jayshree P. Upadhyay – Livemint
Jignesh Shah, who is one of the accused in the scam, was supposed to appear before the court on Thursday but got exemption on medical grounds.
Legendary Hedge Fund Wants to Use Atomic Clocks to Beat High-Speed Traders
Miles Weiss & Zachary Mider – Bloomberg
Renaissance Technologies seeks a patent for anti-HFT invention. Patent application no. 14/451,356 has one goal: to outrun the speed demons of Wall Street.
PLY: Atomic clocks…expensive but more accurate than the clocks in servers when it comes to zilllionths of a second. Interesting.
CME Opens Technology Centre In Bengaluru
CME announced the opening of its new technology centre in Bengaluru that will expand international network, enabling it to serve a broader range of clients worldwide.
Crowdsurfer Announces New Investment
Following the recent news of incoming Chairman, Richard Baker, Crowdsurfer, the data intelligence service for crowd finance, has secured more investment, bringing the total raised to date to £1.2M.
EBS BrokerTec & ICAP Information Services Launch The EBS CNH Benchmark
EBS CNH Benchmark is the first fully electronic, trade-backed reference rate for the CNH market.
Canadian Securities Regulators Publish Consultation Paper On Margin & Collateral Requirements For Non-Centrally Cleared Derivatives
Gold & Eggs Lure Back Chinese Speculators in Trading Revival
Chinese speculators aren’t done with commodities yet.
HKEX announced that SFC has given its written approval for Mr Roger Lee Kwok Keung’s appointment as CEO of The Stock Exchange of Hong Kong and Hong Kong Futures Exchange.
Bloomberg reports that Citadel hired Kevin Turner, the COO at Microsoft, to run its securities unit as finance firms seek to help build their technology expertise.
FM reports that IG Group appointed Paul Mainwaring as CFO Designate. He will be replacing Mark Ward on July the 11th, who is leaving the company as originally planned.
Terry Flanagan – Markets Media
20.07 – ICDA Cyber Risk London Conference
20.07 – Record date WSE 2015 PLN 2.36 dividend
21.07 – Adjourned WSE Ordinary General Meeting to resume proceedings
New! 19.07 – IBKR Q2 2016 Results – press release
New! 03.08 – TMX Q2 2016 Results – press release
New! 04.08 – Bats Q2 2016 Results – press release
New! 17.08 – NZX Q2 Results – press release
All forthcoming exchange / investment related events are now listed in our Events page.
U.S. Drops Libor Charges Against ICAP Trio After U.K. Acquittals
Suzi Ring – Bloomberg
U.S. prosecutors dropped a criminal complaint over Libor against three former ICAP brokers after the men were acquitted by a U.K. court earlier this year. The case against Darrell Read, Colin Goodman and Danny Wilkinson was closed in a New York court on June 30, according to documents.
Tokyo Commodity Exchange: Message From The President & CEO Updated
WFE Responds To Revised Basel III Leverage Ratio Framework Consultation
The World Federation of Exchanges (WFE) published its response to the Basel Committee on Banking Standards (BCBS) Consultative Document: Revisions to the Basel III Leverage Ratio Framework.
GFMA, IIF, ISDA, JFMC & TCH Respond To The Basel Consultation On Leverage Ratio
FIA Analysis: Leverage Ratio Proposals Will Negatively Impact Client Clearing
Canadian Securities Regulators Release Latest Three-Year Business Plan
Statement From The UK Chancellor And International Investment Banks On London As A World Leading Financial Centre
PLY: Suddenly the UK Fin Min can see the benefits that were always obvious to those not afflicted with Euro-myopia.
Ex-Barclays Traders Sentenced To Up To Six-And-A-Half Years For Libor Rigging
Kirstin Ridley – Reuters
US Department Of Justice: Former Rabobank Derivatives Trader Pleads Guilty For Scheme To Manipulate LIBOR Benchmark