June 07 2013

elb2 A few nuggets today which are interesting although of course – and I say this without fear or favour – the real players in the field are digesting the content of a remarkable @YMarkets conference which took place with parallel streams in Belfast, Northern Ireland and its epicentre in the New Europe, Torun, ending with a piano recital at the Szafarnia Chopin centre in the heart of Poland.

Public Markets

Asset Managers in Bid to Delay Swaps Rules (subscription)

Wall Street Journal

The largest US buyside trade bodies (ICI/IMA) have asked the U.S. derivatives regulator for a last-minute delay from June 10 to September 9 to key G20-led swaps reforms because of insufficient progress by banks and clearing houses on measures to protect client assets.

Warsaw Stock Exchange wants to create agricultural commodity exchange (subscription)

portalspozywczy.pl

PLY: As the existing 500 lb gorilla in the national and regional market, it is hardly surprising that GPW CEO Adam Maciejewski is sensibly looking at expanding to agricultural commodities given the enormous size of the Polish market for farming in all manner of soft products and the relative lack of success amongst the Polish commodity exchanges.

Nasdaq OMX partners with SuperDerivatives for settlement pricing

Finextra

Nasdaq OMX NLX has partnered with SuperDerivatives to offer independent and transparent settlement pricing on its new London-based market for interest rate derivatives.

Brazil Considers Tax Break for Investors in Small Business Equities (subscription)

Wall Street Journal

Brazil’s government is considering offering tax reductions to investors in equities of small and midsize businesses to stimulate greater investment.

New services launched to support trading in VSTOXX derivatives

HedgeWeek

Eurex is offering new research tools via its website enabling interested investors to obtain a comprehensive insight into the world of analysis, valuation and trading of volatility derivatives.

Private Markets

Future uncertain for Prague Stock Exchange

Encompass me

PLY: I sympathize with Petr Koblic – abandoned by his first PE shareholders when they had to liquidate post-Lehman, he ended up in the embrace of Vienna SE from whence his own government have not encouraged stock market support and the Vienna exchange has lost its way as a rather disparate rump of subsidiaries rather than a holistic market structure serving the (significant) needs of the New Europe.

Nadex Commends CFTC Advisory Alert (subscription)

Wall Street Journal

Nadex commends the Commodity Futures Trading Commission (CFTC) and the SEC on their joint Investor Alert warning about fraudulent schemes involving binary options and off-exchange trading platforms.

Products

EEX Launches Trading In Guarantees Of Origin

Today, the European Energy Exchange (EEX) successfully launched trading in Guarantees of Origin for Green Power (GoOs). The first trade has been concluded by Danske Commodities A/S and Steweag-Steg GmbH (a Energie Steiermark company) for the Nordic Hydro product for delivery in December 2014 comprising a volume of 5,000 GoOs at a price of EUR 0.200 per certificate.

Appointments

CME Clearing Europe’s Lamb to Retire; Betsill Succeeds

Businessweek

Andrew Lamb, chief executive officer of CME Group Inc. (CME)’s European clearinghouse, will retire on July 31, four years after joining the world’s biggest futures exchange.

Lee Betsill, chief operating officer and managing director of CME Clearing Europe, succeeds Lamb. During his career, Lamb, 61, was also CEO of LCH.Clearnet Ltd., advised ICE and worked at the Bank of England.

Crowdfunding

Why Crowdfunding Means Larger Loans From Alternative Lenders

Businessweek

From the New Entrepreneur blog to the halls of Congress, much has been made of the alternative financing startups angling to enter the market. Perhaps too much. “Alternative lending can only be a niche market,” Rohit Arora, chief executive of online lending platform Biz2Credit, told me earlier this week when I was working on a story on big banks’ credit-card lending to small businesses. “It’s high-cost, short-term money, and you can’t use it to replace long-term options.”

Much more useful for most small businesses, said Arora, would be financiers that provide affordable “medium-term” loans that companies can use to build a business, not just use to meet immediate cash flow needs.

Crowdfunding on the rise

Channel News Asia

Entrepreneurs have been increasingly turning to crowdfunding to fund their ideas, soliciting donations through online sites. But the trend has been slow to take off in Asia.

SINGAPORE: Entrepreneurs often have great ideas but more often have no money to fund them.

So increasingly, they are turning to crowdfunding, soliciting donations through online sites.

But the trend has been slow to take off in Asia.

Just last week, Singapore-based startup Pirate3D raised US$100,000 in just 10 minutes on Kickstarter, a crowdfunding website.

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