ICE launches new CDS platform as ESMA advises on funds passport progress with 12 non-EU nations…
vs Q2 2015: net revenues $369 million, down 4.6%, income before income taxes $213 million (down 11%).
PLY: Somewhat disappointing?
LME has extended open outcry trading to its disaster recovery site in Chelmsford, east of London, until Friday after structural problems forced the shutdown of its offices (reported here).
Harvard Zhang – MarketWatch
PLY: Highlights mention of Atlantic Council speech also discussed yesterday albeit the EU retains a healthy King Canute-esque belief in their control freakery which is broadly lacking in commonsense, or fact.
Caroline Binham & Martin Arnold – Financial Times
FCA head Andrew Bailey confirms no ‘great bonfire of regulations’ post-Brexit.
Annie Massa – Bloomberg
IEX has been profitable for 13 months as a dark pool. Investors Exchange preparing to begin trading in August.
Anton Hermansyah – Jakarta Post
Indonesia SE (IDX) will give special incentives for tax amnesty participants to cross trade on the stock market using repatriated assets, a move aimed at changing the ownership of shares.
IBKR declared a quarterly cash dividend of $0.10, payable on September 14, 2016, record date September 1, 2016.
Special Section: FTI, NSEL, India at the Crossroads
PLY: MCX up 2%, FTIL down 6.5% on weight of issues now facing Jignesh Shah and his enterprise over NSEL.
The Enforcement Directorate (ED) had put the founder of FTIL behind bars, and the Mumbai police’s economic offences wing (EOW) has now gone ahead and attached all immovable assets of the company in connection with the scam.
Jayshree P. Upadhyay – Livemint
The assets seized include the Mumbai headquarters of FTIL.
PLY: Absolutely fair it strikes me. Stop destroying the corporate code and just make those who can be proven culpable pay for their actions – after all how may years is it now since Jignesh said the payments would all be made?
QV Premium: NSEL Scandal Brief – Part 16.
Shenzhen SE (SZSE) now has an order-matching engine with a response time of 1.1 milliseconds, one-hundredth of the previous system, while order processing capacity was tripled to 300,000 trades a second as well as a new data center equipped with 5,000 server cabinets for co-location.
PLY: Nonetheless as Corvil CTO Raymond Russell notes, “both Nasdaq and Bats have venues with response times below 100 microseconds, around ten times faster than Shenzhen.”
ASX will be using Metamako’s MetaMux for real-time monitoring of its new trading platform and for timestamping and time synchronisation of its internal network traffic.
ICAP and Bats Europe (Bats) announce today that following a successful launch of ICAP’s cleared equity basket solution in April 2015, over €212 billion of notional trades have been routed through the Bats Exchange Trade Reporting (ETR) service for clearing during the financial year ended 30 June 2016.
Sridhar Natarajan & Matthew Leising – Bloomberg
ICE last week debuted a new way to buy and sell contracts tied to the borrowings of individual companies, mimicking how stocks and futures are traded. ICE is able to cut out the dealers that created the swaps market by allowing investment firms to transact with each other on the platform with a clearinghouse sitting in the middle of every trade.
NSE said that two Nifty50 based leveraged and inverse (L&I) products will be launched at HKEX.
Bloomberg reports that PIMCO named Emmanuel “Manny” Roman as its next CEO, replacing Douglas Hodge, who presided over a tumultuous time that included the departure of Bill Gross and a plunge in assets at the firm. Roman has been CEO of Man Group, the world’s largest publicly-traded hedge fund manager, since February 2013.
PYMNTS reports that Lending Club has named Patrick Dunne, a veteran of BlackRock, as its new chief capital officer.
Vela Trading Technologies, a global leader in high performance trading and market data technology, announced the appointment of new hires in the team led by Rob Lane, Global Head of Sales & Marketing: Wendy Chan has joined as Global Head of Marketing (she held roles at SunGard, XcitekSolutionsPlus, Interactive Data, and Merrill Lynch), Rupesh Patel (ex-QuantHouse, part of S&P Global Market Intelligence) and Neil Wheatley (worked at Exegy) join Vela’s sales team in London and Chicago respectively, Michael A. Goettsch as Senior Pre-Sales Engineer (worked at Exegy) reporting to Dave Carson, Global Head of Pre Sales Engineering, Lauren Trapanotto as an account manager reporting to Keith Cacciola, Global Head of Account Management, and Kirsty Marsh (worked at SIX Financial Information) in Global Sales Operations.
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
All forthcoming exchange / investment related events are now listed in our Events page.
Exiger, the global regulatory and financial crime, risk and compliance firm, announced the acquisition of The Poseidon Group, the HK and Singapore-based due diligence and business intelligence firm.
PLY: Given these nations, put this in perspective against the passport debate with Britain…