Lots of news, led by the LIFFE transition to ICE Clear Europe looming at the start of next month. Elsewhere there is a bit of Gulf speculation on upgrades or maybe merger while there is a lot about debt and SMEs with more details on KONEX and the remarkable launch of Qianhai SE in China.
Without further ado, here are the stories:
PLY: ICE-NYX is not inevitable once this clearing moves but then again there is no certainty the sun will rise tomorrow…
European Commission sought feedback on the impact for derivatives on cocoa, coffee, sugar and rapeseed and U.S. equity-index futures, in feedback due by May 24.
Dubai Financial Market Company shares continue to climb on speculation about an emerging markets upgrade and a potential merger with the Abu Dhabi Securities Exchange.
PLY: The cost saving would be clear in an ADSX/DFM merger but at the same time does either market really dynamically service a developing capital markets structure?
PLY: That frightful Facebook moment cannot have helped and this year NYX is edging NASDAQ but is it a blip or a long-term trend? I’m not yet convinced it’s the latter…
Wall Street Journal (blog)
PLY: More detail on KONEX, announced Friday.
PLY: Again for SME exchange buffs, more detail on the Qianhai Equity Exchange which, hey this is China after all, started with 1,200 firms trading!
PLY: In terms of memorably awful co-operations between exchanges, I think this takes the biscuit. Istanbul has a stunningly large market opportunity but is looking increasingly staid and dull in its bureaucratic approach to agreements / MOUs and partners to co-operate with. It doesn’t need any of these sideshows, the Turkish exchange ought to get on with the gift of markets it has been handed by the government’s action in bringing together Ismir et al under the Borsa Istanbul umbrella. Less Ottoman Empire approach and more pure business would be appealing for investors.
PLY: NSE struggles to get bond market going – perhaps a legacy of India’s retail-dominated and highly speculative investors taking a while to adjust from pure equity to the lure of fixed income?
PLY: However that sluggish start for NSE doesn’t mean there won’t be competition: here come BSE and MCX-SX into a market where NSE are currently doing about one trade daily…
PLY: All new exchanges welcome, the benefit to trade remains overwhelming…
PLY: No fees for MMs June 3 until July 31: liquidity clearly being sought…
Ghana SE seeks listings for its deferred launch of the SME board.
Financial Express Bangladesh
A brief primer of SME bourses…
Richard Koch, who owns 6.4pc of the company, teamed up with private equity firm CVC to bid for the betting exchange group.
PLY: Interesting interview with the man behind the failed bid for the world’s largest betting exchange…watch for another bid soon I suspect.
PLY: It has taken JSE 2 years to do a U turn from decrying CFDs against SSFs to planning trading on their platform. CFDs and SSFs each have advantages – the larger the stock the better the SSF can be while CFDs are great for less liquid markets. In terms of U turns on single stock products, nothing beats Bill Brodsky’s declamation of Single Stock Futures only months before he led CBOE into a minority shareholding of OneChicago…
Oslo Børs and Burgundy are pleased to confirm our announcement to go-live on the Millennium platform on the Burgundy market as of start of trading Monday 3 June 2013.
James Toffey, former CEO of bond- & derivatives-pricing service Benchmark Solutions Inc., has joined GFI Group Inc. (GFIG) as global head of electronic markets.
Deputy CEO Sameer Shah, 45, has taken over as managing director (In charge) India’s second largest commodities exchange, NCDEX.
The IN VIVO Blog (blog)
Does Crowdfunding potentially disintermediate Investment Banks and so forth in the PE/VC chain with their high fees?
Various ways to get journalism crowdfunded…getting a return on your investment seems more challenging…