PLY: Welcome to a special series of Exchange Invest bulletins, with the pith being prepared live at Tech Open Air Berlin. Right now I am in a field with remarkable wifi on a straw bale, soaking up the atmosphere and waiting to hear some new Blockchain thinking on the fintech front as well some of my other startup activities…
Today in Exchange Invest Daily, NYT vents the past demonstrating just how tricky it is to drag the antiquated NYSE into the present in the reactionary end of Wall Street. Ramifications in China / Hong Kong, Greece, India and around the world…oh and the Greeks will today pass the latest installment of what is clearly now the longest suicide note in history – albeit in this case an act which if left unchecked will result in an act of fratricide and then genocide to the entire ‘European project.’ Like all such groups, the early stuff was so much better than the flaccid stadium material after they gained the limelight.
Net profit rose 5.6% to RM 49.48 mln (USD 13 mln) in Q2 ended June 30, 2015 (Q2, FY15). Revenue increased 3.14% to RM 127.01 mln (USD 33.3 mln) due to a rise in trading revenue, listing and issuer revenue and depository services revenue. In H1 FY15, its revenue was up 3.16% to RM 254.11 mln (USD 67 mln) while the net profit rose 4.9% to RM 96.54 mln (USD 25 mln).
TMX sold the business of its investor relations subsidiary The Equicom Group Inc. (Equicom) to NATIONAL Public Relations Inc. Terms were not disclosed.
Read our Premium Exchange Deals Brief.
PLY: The TMX is moving – interesting to watch Lou Eccleston shake up the entity.
ICAP said the uncertainty over a possible Greek default and the euro zone’s future had reduced risk appetite and trading volume.
“Management remains focused on driving future growth of the business through new technology driven products and services which expand ICAP’s addressable market.”
BlackRock, Schroders, Fidelity and others write to Lord Hill to add their voices to the debate on how to wind down a failed clearing house.
Nathaniel Popper – NY Times
When NYSE’s systems went down during the trading day last week, few longtime employees who had helped lead the exchange during past technical problems were on hand.
PLY: The New York Times remains a rather dismal defender of times past – an analogue media outlet in a digital age, defending the analogue ex-staff of an organisation finally approaching digital integration coherently. NYT’s ongoing eagerness to criticise those Atlanta out of towners at ICE perfectly demonstrates how out of touch they are with the world of exchanges. Here by dint of an outmoded Rollodex and a parochial distrust of those out of state three dimensional derivatives folks, an ongoing seam of bitterness creeps through. NYSE is having a genuinely ‘extreme makeover’ having been abjectly mismanaged for years, with a vast surfeit of, frankly, mediocre (at best) placemen staffers. Many were paid extreme salaries (not merely the pro-active value destroyers in the C-suite value). It’s a pity that the dead tree press is increasingly so far out of touch with the exchange industry. At the same time, it only makes me more pleased I created Exchange Invest for your daily reading (free of charge too).
Ben Bland – Financial Times
“China is involuntarily sending a signal that it’s not yet ready to open its financial markets and that’s good for Hong Kong,” said the CFO of one leading Hong Kong-listed company.
Santanu Chakraborty – Livemint
PLY: The ongoing festering disaster which is the Indian capital market is not going anywhere with IPOs for the venues. it seems as the blob’s innate socialism crushes freedom and future prosperity. It’s a pity the Modi government have thus far proven so weak in this regard.
Maria Nikolova – LeapRate
MOEX will close its Classica sector from August 3, 2015. Securities currently trading in the sector include shares in more than 300 companies active in car manufacturing, energy, utilities, metallurgy and even media.
ISDA published a new classification letter that will enable counterparties to notify each other of their status for clearing and other regulatory requirements under EMIR.
Special Section: FTI, NSEL, India at the Crossroads
PLY: MCX and FTIL up 1%.
Several options exchanges including MIAX, NYSE Amex and NYSE Arca, declared “self-help” against CBOE on Tuesday, routing orders away due to what was later called a technical issue.
Philip Stafford – Financial Times
Cian Burke – FOW
Luke Jeffs – FOW
Anirudh Laskar – Livemint
To Rs.5 lakh (USD 7.9k) from the current minimum size of Rs.2 lakh (USD 3.2k).
PLY: Unproductive, socialist, regressive, moronic. Welcome to Incredible India where the blob squashes you, unless you actually need their help when it ignores you. A further castration of risk to deliver no benefit other than a sense of smug regression from the blob itself.
Josh Noble – Financial Times
China has relaxed rules to allow more foreign involvement in its domestic bond market, a step that some analysts believe could help smooth the renminbi’s path towards reserve currency status.
Read our Premium China Capital Markets Transformation Brief – Main File.
Record date GPW 2014 PLN 2.40 dividend
Interactive Brokers Q2 Financial Results
CFTC Division of Market Oversight (Division) public roundtable to discuss the Commodity Exchange Act’s trade execution requirement and the process of making MAT determinations.
SEC Advisory Committee on Small and Emerging Companies – public meeting by telephone conference
CFTC’s Energy & Environmental Markets Advisory Committee to Meet on July 29, 2015
All forthcoming exchange / investment related events are now listed in our Events page.
Chuin-Wei Yap – Wall Street Journal
At least three Chinese companies providing peer-to-peer lending services said Sunday and Monday that they will exit the business of providing “middleman services” for loans secured with pledged shares as collateral.
The European Equity Market Report is a piece of analysis that allows for an accurate comparison of trading statistics across European trading venues.