July 21 2015

elb2 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

MondoVisione

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

Japan’s Financial Services Agency: The Panel For Vitalizing Financial & Capital Markets Releases Statement For Vitalizing Financial & Capital Markets

MondoVisione

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

ETFGI: Assets In The Global ETF/ETP Industry Surpassed Assets In Global Hedge Funds At The End Of Q2 2015

MondoVisione

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

Getting The Language Right

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

MondoVisione

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

MondoVisione

Remarks By US Treasury Secretary Jacob J. Lew At A Better Markets Event On The Fifth Anniversary Of The Dodd-Frank Act

MondoVisione

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