Uganda the latest floor to close as it adopts STT technology while bourse competition heats up in South Africa. FT perhaps for sale, or maybe not due to pension liabilities. Helex to reopen? Today’s must read tackles the crunchy topic of communication via the good offices of Aesthetic Integration’s Denis Ignatovich. Interesting nuggets across multiple sectors, happy scrolling…
Public Markets
Announcement Of The Hellenic Capital Market Commission On Banking Holiday – Exchanges Remain Closed
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Greek Stock Exchange Prepares To Reopen (subscription)
Elaine Moore – Financial Times
Staff at the Athens bourse said offices were open and employees were at work, waiting for a decision from the Ministry of Finance to extend its cautious relaxation of capital controls.
WSE: We Have Never Left Ukraine As We Believe That It Still Has A Lot Of Potential
Interfax Ukraine
Interview with Warsaw SE CEO Pawel Tamborski.
New Players Primed To Offer Alternatives To JSE
Phakamisa Ndzamela – BDLive
JSE looks set for direct competition as A2X, a new entity, partly led by Kevin Brady, a former MD of securities at Investec; Gary Clarke, a former JSE company secretary who served in that role for 12 years; and Neal Lawrence, who was head of information technology at UBS and an IT principal at Absa Capital.
Singapore Regulator Says Reviewing SGX’s Role Overseeing Markets
Jonathan Burgos & Chanyaporn Chanjaroen – Bloomberg
The Monetary Authority of Singapore said it’s reviewing the regulatory role of SGX as global bourses expand in the city-state.
Holland Clearing House Renamed ICE Clear Netherlands
ICE
Effective July 27, 2015.
ICE acquired a majority stake in Holland Clearing House in December 2014, with ABN AMRO Clearing Bank holding a minority stake.
Trading Fast & Slow Fuels Turbulence In Treasury Market
Alexandra Scaggs – Bloomberg
The chasm in the Treasury market between microsecond traders and comparatively slow-poke humans is making it harder to navigate the $12.7 trillion business, according to Tabb Group.
CME Fined Trader $55,000 For ‘Spoofing’ Treasury Futures
Brian Louis – Bloomberg
CME fined a trader, James Groth, $55,000 and suspended him for 10 days for spoofing…
Read our Premium Flash Crash & Hound of Hounslow – Brief.
CFTC Extends Designation Of DTCC-SWIFT As LEI Provider
CFTC
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Pearson To Explore Sale Of Financial Times
Kristen Schweizer, Manuel Baigorri & Ruth David – Bloomberg
A sale may value the business at as much as 1 billion pounds ($1.6 billion).
PLY: The sale may not happen as the FT’s pension deficit is significant – in other words their historic management seems somewhat at odds with their historic reputation as somehow informed about finance…
Private Markets
Thailand – Spot Gold Market Stuck In Tug Of War
Nuntawun Polkuamdee – Bangkok Post
SET, dealers both want majority holding.
Inside Ex–Lehman Boss Dick Fuld’s New Firm, Matrix Advisors
Jess Delaney – Institutional Investor
Now an adviser to smaller businesses, the former CEO of Lehman Brothers plans to reopen the National SE.
India – Brokers Get More Time To Give Risk-Based Supervision Details
NDTV
Bombay SE (BSE) and National SE (NSE) on Monday extended the deadline for brokers to submit necessary details for putting in place the new risk-based supervision model.
Rwanda SE Gets First Private Sector Listing
East African Business Week
Read our Premium Rise of Africa Brief – Part 5.
Special Section: FTI, NSEL, India at the Crossroads
PLY: MCX up 2%, FTIL flat.
Technology
Uganda Securities Exchange Live With STT’s CSD And ATS Solution
STT
PLY: A rather momentous day for East African markets. With the closure of the Ugandan floor, this means the bond market in Nairobi, all asset classes in Tanzania’s DSE and in Uganda are on the same platform from South Africa’s dynamic vendor STT.
Banks Back Rival To Bloomberg Messaging System (subscription)
Ben McLannahan – Financial Times
Symphony Is Just The Latest Attack On Bloomberg’s Fortress (subscription)
Philip Stafford – Financial Times
Symphony’s plan to push into the trader chat rooms long dominated by Bloomberg is just the latest attack on one of the most impregnable fortresses of financial services.
FAO: Last October Goldman and 13 other companies including JPMorgan Chase, Morgan Stanley and BlackRock officially unveiled Symphony Communication Services.
The 14 firms bought Perzo, a Palo Alto-based technology start-up founded by former Thomson Reuters executive David Gurle to create Symphony.
Previous discussions here.
Barclays Signs Global Trading Deal With Fidessa (subscription)
Luke Jeffs – FOW
…using futures and options system.
Products
CME Amends Live Cattle Futures Settlement Rules
Reuters
CME will adjust carcass grading specifications for the live cattle futures contract settlement effective on Aug. 3.
Korea Opens Mini-Sized Derivatives Market
Yonhap
South Korea opened a mini-sized futures and options market on Monday to offer investors wider choices for hedging and trading, hoping to revitalize the once-vibrant derivatives market with robust liquidity.
EEX To Offer Renewable Power Futures From Sept. 14
Reuters
EEX will offer (press release here) wind and solar energy futures contracts from Sept. 14.
DGCX To Waive Off Trade Fees For Mini INR Contracts
Maria Nikolova – LeapRate
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Career Paths
RFA (Richard Fleischman & Associates), trusted technology partner to investment management clients for more than two decades, hired Gair Betts as Director of Sales.
Financial Calendar
Interactive Brokers Q215 Financial Results – July 21, 2015
New announcement
“Asian Exchange Forum” – Friday, 24 July 2015 in Taipei, hosted by TWSE
SunGard Data Systems Q2 Financial Results – Thursday, July 30, 2015
All forthcoming exchange / investment related events are now listed in our Events page.
Analyst Notes
LSE Price Target Increased By RBC Capital From GBX 2,700 To GBX 2,900 – “Outperform” Rating
A full table of current analysis can be found on our Analyst Ratings page which is updated daily.
Other stories
Denis Ignatovich
PLY: Lexicography and other vital issues of communication – today’s must read…
Notorious Activist Investor Storms Back To Tokyo Market (subscription)
Leo Lewis & Kana Inagaki – Financial Times
Yoshiaki Murakami, once convicted of insider trading and Japan’s most notorious shareholder activist, has stormed back to a Tokyo stock market where corporate governance and share buybacks are in vogue.
Setting The Record Straight On China’s Stock Market Bubble
Foreign Policy
TheCityUK Comments On Relaunch Of Financial Services Trade & Investment Board
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TheCityUK has commented on the relaunch of the Financial Services Trade & Investment Board (FSTIB), announced by Chancellor George Osborne.
ISDA – Dodd-Frank Five Years On: Significant Progress And Outstanding Challenges
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