JUNE 1 2017

Good Morning and welcome to Issue 1006 of Exchange Invest Daily.

Prosperity UK Video

Prosperity UK Panel – Brexit, Euro Clearing & Financial Market Structure: panel ably chaired by Barney Reynolds headlining parish luminaries Jeff Sprecher and Michael Spencer, with one Patrick L Young lurking in the background – perhaps the ‘hot button’ parish topic in derivatives of the moment…

In Today’s Exchange Invest

Today in Exchange Invest, usual Euro protectionist hubris from Europe’s minority financial centres while the Swiss Exchange Group witnesses a change of CEO as IEX hopes to be offering listings by October.

And there’s more, happy scrolling:

In BigWorld

Does the world’s hippies holding their breath over whether or not President Trump will withdraw the USA from the Paris climate agreement count as carbon neutrality?

Public Markets

France Presses EU To End Euro Clearing In London
Business Insider

“Euro clearing operations should be based where euro-system supervision can be exercised. After Brexit, we don’t see how this could be in London” comments the profoundly chauvinist French Central banker François Villeroy de Galhau,whose clear implication is that EU standards are superior to those of Britain, the US and multiple other jurisdictions which recognise London as the world’s largest epicentre for international clearing. Standard issue Franco-EU protectionism in other words.

Corporate Name Of B3 Currently Undergoing CVM Approval
MondoVisione

PLY: No indication when BM&FBovespa will be free to B3.

Deutsche Börse: Share Price Information From Xetra And Börse Frankfurt To Become Considerably Less Expensive For Retail Investors
MondoVisione

PLY: DB1 continues to do everything in its power to mend relations with Germany having flirted with departing Deutschland during the Merger of Equal Desperation fiasco.

BVB Increases Capital By Ron 3.7 Mln (900K USD) For SIBEX Merger
Business Review

PLY: BvB adds 375,048 new shares in a deal which could only take place in a backward, corruptocracy, still adds no value to the Bucharest exchange but cleans up dirty linen from a self inflicted wound of investor idiocy.

EU Watchdog Issues Licensing Guide For Brexit Rush Of Financial Firms
Reuters

PLY: Building on yesterday’s story with the only parish update being that Aquis is apparently being wooed to leave London…

Interview – Bulgarian SE To Focus On Admitting Govt Bonds To Trading, Introducing Intl Segment
SeeNews

PLY: Ivan Takev outlines his plans for the future in Sofia.

Effex CEO Seeks More Time To File Answers In FXCM Case
FinanceFeeds (blog)

The business relationship between FXCM and Effex Capital was one of the reasons for the broker being forced to leave the US retail Forex market.

Private Markets

IEX To Begin Listing US Company Shares In October
Markets Insider

PLY: Seeking primary listing permission is a fascinating prospect, can IEX break the” country club duopoly” of US listings?

Metropolitan Stock Exchange To Launch Corporate Bond Platform In July
Livemint

Plato Aims To Go Global
Markets Media (press release) (registration) (blog)

Special Section: FTI, NSEL, India at the Crossroads

No news today.

Technology

ADX Runs 6 Annual General Meetings (AGM) Through Blockchain Technology
MondoVisione

Products

New Foreign Exchange Code Could Mean Lower Costs
Wall Street Journal (subscription) (blog)

PLY: With ‘last look’ surviving, it might mean lower costs it definitely means clients being ripped off…until finally we have another round of LIBOR-style show trials of course. Except this time all parties will, in plain sight be guilty both of egregious customer action and crass stupidity, not to mention spinelessness on the part of those who let this fundamentally flawed code be passed in the first place.

ACER Still Finds Contractual Congestion In The European Gas Transmission Network
ACER Proposes Potential Improvements To The Energy Infrastructure Package
MondoVisione

Career Paths

PLY: So farewell then SIX Group CEO Urs Rüegsegger. After 9 years is leaving the Swiss Exchange group, less than 6 months after Romeo Lacher became Chairman. Also leaves a hole at WFE as while remaining Acting Chairman and on the board as he works to through his notice period, it leaves anther unfortunate hole at the top of a body which already struggles for relevance.

Meanwhile, Palestine development and Investment Company “PADICO” nominated its new representatives for the Palestine exchange board of directors. Mr. Abdullah Sabat will be Vice Chairman and Dr. Faisal Awartani a new addition to the board.

Crowdfunding

Secondary Market For Crowdfunded Securities Will Commence On Seedrs In June
Crowdfund Insider

P2P Lenders Seek Fm’S Help To Get Clarity On Sector’S Rules
Economic Times

Peer-To-Peer Lender Ratesetter Valued At £200M In Latest Fundraising
Telegraph.co.uk

Other Stories

MiFID II: ESMA Clarifies Transparency And Position Limit Regimes For Instruments Traded On Non-EU Trading Venues
MondoVisione

EU Banking Watchdog Sees Few Benefits From Merger With Insurance Counterpart
Reuters

PLY: Obvious, crushingly short of budget this is a no brainer to refuse.
Have a great day and welcome to June, summer is nearly upon us up here – enjoy winter down there… Whatever the weather, thanks for reading Exchange Invest.

All the best,

Patrick

Patrick L Young
Executive Director DV Advisors

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