MARCH 21 2017

Exchange Invest issue 957 correlates with the Porsche 957 was the second generation Cayenne 4wd leather trimmed lorry made between 2008 and 2010. What a relative indignity for the divine 956 Le Mans racing car to find itself ‘retrosandwiched’ between these leviathans of the commuter belt. (Lovely, luxurious car the Cayenne, but it’s hardly the stuff of teenage bedroom walls, let’s put it that way).

In Today’s Exchange Invest

BATS has finally let the buy side loose on it BIDS derived LiS block product – Hooray!

ESMA openly cooperating with non-EU CCPs – Hoorah!

SGX gets prescriptive remedies for its inability to reboot when the tech falls over – Ahem!

In BigWorld

Meanwhile the mainstream media is getting wildly worked up about news the British government will activate the Article 50 process next week.

Whether your perspective is as Remainer, Remoaner or Brexiteer, it’s happening and we need to move forward – this is a huge opportunity for the world, not just Britain and the EU.

Public Markets

Securities Industry Group Completes Review Of Market Disruptions, Makes Recommendations
The Business Times
MAS Directs SGX To Enhance Operations
The Straits Times
SGX Told To Enhance Recovery Processes Following Trading Disruption Last Year
MondoVisione
SGX Adopts Securities Industry Working Group Recommendations
MondoVisione

PLY: 24 months to get things more ‘shipshape’ round at SGX where the tech per se was never the problem, nor (depending on the outage) was the senior management but when the bosses left the building and something happened, the result looked amateurish.

Bats Europe Successfully Launches Buy-Side Access To New European Equities Block IoI Platform
Exchange News Direct

PLY: With Turquoise’s BIDS-clone already making considerable progress in the block trading market, now the original BIDS technology has arrived in full working order. BATS delayed the buy side access process (presumably due to the CBOE acquisition of process)) but the singularity of block liquidity is now upon us within the “Large In Scale” (LiS) product.. The omens are already very encouraging – I think BATS/BIDS LiS is a game changer for the block trading market in Europe.

HKEX: OTC Clear Launches Client Clearing Ahead Of Hong Kong Clearing Mandate
MondoVisione

ICE Moves To Appeal Trayport Decision
FOW magazine

PLY: A little more on yesterday’s lead story.

Bursa Malaysia Seeks Public Feedback On Review Of Listing Requirements
MondoVisione

BSE Raises Transaction Fees For Trades
Indiainfoline

HKEX Bond Trade Fees Curtailed
Hong Kong Standard (press release)

Private Markets

Muscat Bourse Announces List Of Sharia-Compliant Companies
Times of Oman

Muscat: Oman’s Muscat Securities Market (MSM) has announced a list of Sharia-compliant companies based on the fourth quarter results of 2016.

Stars Align For Vietnam’s Privatisation Push
Nasdaq

Sri Lanka Looking To Tourism And Logistics As Growth Drivers – Cse Chairman
Colombo Page
CSE Says First Leg Of Capital Market Promotion In Australia A Success
Daily Mirror

International Blockchain Hackathon Hosted By Intel®, The Floor & The Tel-Aviv Stock Exchange (TASE)
MondoVisione

PLY: Amongst my theories of the moment I have one which is that the smaller and less relevant the exchange, the more they are trying to make themselves look vital by promoting Blockchain.

Plato Partnership Completes Deal With Trade Informatics PLIA
MondoVisione

PLY: This appeared as EI raced to pixel and it seems the Plato Collective is kind of moving away from the original concept of a trading platform to a sort of research collective producing tractor production statistics for London equities.

Special Section: FTI, NSEL, India at the Crossroads

First Task For Sebi Chief Ajay Tyagi: Bridging The Great Divide On C-Street
Business Standard (press release) (registration) (blog)

PLY: This article is not entirely about NSEL but when it comes to the elephant in the room, NSE is the starting point for the conversation from multiple angles.

Technology

Boursa Kuwait Partners With Paci To Up Security Measures
GulfBase.com

HKEX Enhances Shareholding Information At Hkexnews
MondoVisione

Hong Kong Exchanges and Clearing Limited ( HKEX ) is offering new Stock Connect* shareholding information on the HKEXnews website.

Datagenic & GFI Group Enter Data Distribution Agreement
Yahoo Finance

Products

The New York Stock Exchange Just Had A Trading Snafu
Business Insider

PLY: Not sure why Business Insider headlines read like teenage text messages (sans smileys) but it appears NYSE had a few issues with the closing ETF auction.

Withholding Tax Exemption For Debt Traded On A Multilateral Trading Facility
Gov.uk

PLY: UK tax Consultation now open with the possibility to see a shift in MTF tax treatment for bonds.

Career Paths

Celebration Time At BSE: Boss Ashish Kumar Chauhan Rang In His 49th Birthday At The Exchange
Economic Times

Crowdfunding

Crowdfunding Could Tackle Seafood Fraud
TheFishSite.com

Other Stories

ESMA To Cooperate With Non-EU Regulators On CCPs
ESMA

Brexit: A Bigger Beast For Banks Than The Buyside
Financial News (subscription)

…Still hard at work to get that Porsche 956 in the in the garage.

Have a great day and those in northern climes are welcome to indulge in schadenfreude as it’s actually raining in Malta – cue climactic depression disorder amongst the indigenous population…

Patrick

Patrick L Young
Executive Director DV Advisors

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