MARCH 15 2017

Issue 953 of Exchange Invest Daily correlates with a remarkable Porsche, the 1984 4×4 version of the 911 Carrera developed for the Paris-Dakar rally, in many ways a prototype for the later 959.

Readers may recall Xavier Rolet has completed the Paris-Dakar rally too – the multi week adventure through the African dessert was arguably a decent preparation for dealing with EU antitrust.

In Today’s Exchange Invest

NASDAQ launches its tech in the Borsa Istanbul derivatives market while also announcing a Blockchain powering of ad exchange NYIAX. Acting CFTC head Giancarlo nominated as permanent Chairman. SGX to ramp up OTC platform. Hopefully everybody made it to the rat’s mouth who wanted to go, despite inclement American weather. (I wonder is there a recognised psychological condition for being stuck on a snow-bound plane unable to spend your expenses on an overpriced resort somewhere sunny?).

Maybe it’s the impact of the storms but remarkably modest quantities of Boca edition “EJNPR” (“Expenses Justifying Nebulous PR”) so far. Egregious cases will be pruned in future bulletins.

And there’s more, happy scrolling:

In BigWorld

Meanwhile in Bigworld, self-proclaimed Thatcherite French Presidential candidate Francois Fillon has been placed under formal investigation over allegations of very ‘non-Grantham’ practices: he paid his wife hundreds of thousands of Euros of government funds for a non-existent job, while paying his children as lawyers when they were not yet qualified. However he is still sticking to his guns and campaigning despite saying he would withdraw if placed under formal investigation. No wonder accused insider dealers see no contradiction in remaining in parish office…

Public Markets

Nasdaq Provides Blockchain Tech To New Advertising Exchange
Announcing NYIAX, The World’s First Advertising Contract Exchange – NYIAX Aims To Transform Ad Inventory Into Standardized And Durable Securities – A Blockchain-Enabled Media Trading Platform Running In The Cloud And Powered By Nasdaq

PLY: Interesting development in the ad exchange world where there is room for improvement in their existing exchange mechanisms.

Private Markets

Sebi Probes Broker-Bourse Collusion On Dark Fibre Link
Economic Times

SEC, National Bank Of Belgium Agree To Enhanced Cooperation And Information Sharing Regarding Euroclear

Arrested Development Marks The NSE
Business Daily

Qatar Stock Exchange And Nairobi Securities Exchange Sign Mou
The Peninsula Qatar

Brief-Saudi Stock Exchange Tadawul Signs Mou With Japan Exchange Group

Chinese Academy Of Sciences , Shanghai Stock Exchange Ink Strategic Cooperation Agreement

MSE (Mongolia) To Collaborate With Toronto Stock Exchange

Special Section: FTI, NSEL, India at the Crossroads

No news today.


Nasdaq Technology Goes Live In Borsa Istanbul Derivatives Market (VIOP)

SGX Pledges To Ramp-Up Investment In OTC Platform
FOW magazine


Eris Launches Live Swap Curve – Innovative Market Data Offering Providing Transparent And Real-Time Valuation Of Eris Swap Futures

HKEX Advances The Preparatory Work For Bond Connect

Eurex Total Return Futures Get Us Approval

As of 13 March 2017, Eurex EURO STOXX 50® Index Total Return Futures (TRF) have been certified by the US CFTC.

Dalian Commodity Exchange Cuts Near-Month Iron Ore Contract Fees

PLY: Interesting experiment.

Career Paths

PLY: Ahead of his speech at Boca Raton, Acting Chairman Giancarlo has been nominated as Permanent Chairman by President Trump. There is no news yet on nominees for the three vacant Commissioner posts.

Meanwhile Poland’s KNF approved changes on the GPW Management board appointing Jacek Fotek as Vice President of the Exchange Management Board and agreeing to the departure of the hapless CEO Małgorzata Zaleska, who has been fired but remains in situ due to the government’s inability to find a candidate who has, presumably, the right ideological purity to match the current government’s peccadilloes.

Derivatives risk analytic company Hanweck in which NASDAQ has a strategic stake, has added Jean-Jacques Louis, NASDAQ SVP of Corporate Strategy to its board.

In the rat’s mouth, the FIA clearly managed a quorum despite the storms delaying planes in the US and elected 13 directors for the new board at the AGM.

Eric Aldous of RBC Capital Markets LLP and Jason Radzik of BNP Paribas SA joined the board for the first time (2 year terms).

Additionally, because the chairs of the FIA Principal Traders Group (FIA PTG) and the FIA European Principal Traders Association (FIA EPTA) rotate their roles as Ex-Officio Directors on an annual basis, Rob Creamer of Geneva Trading, chairman of FIA PTG, vacated that role and Remo Lenterman of Citadel Securities, chairman of FIA EPTA, began his term.

Directors elected to one-year terms:

Dr. James Overdahl, Delta Strategy Group

Directors elected to two-year terms:

Gerald Corcoran, R.J. O’Brien & Associates LLC
Malcom Clark Hutchison III, Deutsche Bank Securities Inc.
Mark Ibbotson, G.H. Financials
Jerome Kemp, Citigroup Global Markets Limited
Najib Lamhaouar, HSBC Securities (USA) Inc.
Edward Pla, UBS Securities LLC
Nicholas Rustad, J.P. Morgan Securities PLC
Dean Tonkin, Bank of America Merrill Lynch
Thomas J. Erickson, Cargill, Incorporated
Michael Voisin, Linklaters LLP

Post AGM the officers appointed were:

Chairman: Michael Dawley, Goldman, Sachs & Co.
Vice Chairman: Jerome Kemp, Citigroup Global Markets Limited
Secretary: Maureen Downs, Rosenthal Collins Group
Treasurer: M. Clark Hutchison, Deutsche Bank Securities Inc.


No spectacular news today.

Other Stories

Remarks Of Commissioner Sharon Y. Bowen At The FIA BOCA 2017 International Futures Industry 42nd Annual Conference

US FBI Also Attacks Binary Options As They Pose High Scam Threads
SMN Weekly (blog)

First Derivatives Joins Forces With Airbus Unit To Exploit Satellite Images
Irish Times
Many thanks for reading Exchange Invest.


Patrick L Young
Executive Director DV Advisors

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