MAY 24 2017

Hello and welcome to Issue 1001 of Exchange Invest. To celebrate yesterday’s modest milestone, I published a post on LinkedIn last night briefly describing the history and development of this very newsletter. Lest you are interested in “back stage” discussion about Exchange Invest you can read it here.

Prosperity UK Video

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

In Today’s Exchange Invest

In today’s Exchange Invest, DB1 desperate to curry favour in Frankfurt while DTCC tries to seal the dam on the waterfall for repo. More on Euronext acquiring FastMatch and NEX’s infinity as well as a series of fascinating snippets, happy scrolling…

In BigWorld

Clearly the bottle of Dom Perignon ‘52 I had intended to celebrate the 1000th issue of Exchange Invest with yesterday had to be put on ice out of respect at the passing of the great Sir Roger Moore, the Saint who personified James Bond for 7 films. RIP Sir Roger, or I suppose one ought to say, Live & Let Die.

Public Markets

CME Group Declares Dividend
MondoVisione

Euronext Acquires Fastmatch
FinanceFeeds (blog)

PLY: To be fair Finance Feeds have long publicly shared my own view that Fastmatch being sold was only a matter of time so they deserve plaudits for leading the media field here by a country mile.

Sustainable Finance Initiative Launched – “Frankfurt Declaration” Adopted As A Joint Commitment – DB1 Hosts Launch Conference In Frankfurt Financial Centre
MondoVisione

PLY: Readers may not be aware of the term ‘arslikhan,’ an old word, some say derived from the celtic, describing somebody using all the tools at their disposal to flatter their way into being viewed favourably, sometimes after their reputation has suffered a knock. Hot on the heels of announcing sponsorship of a Frankfurt football club yesterday, this appears precisely the DB1 strategy: saving & general slithering back into the German “good books” as the DB1 C-suite struggle to overcome their catalogue of errors with the merger of equal desperation.

Warsaw Stock Exchange has published Current Reports No. 28/2017 “Proposal of the Exchange Management Board on dividend record date and dividend payment date for 2016” and 29/2017 “Announcement on convening an Ordinary General Meeting

PLY: The fact the GPW can actually manage to convene an ordinary GM and not an EGM is in and of itself, rather extraordinary. I wonder who this quarter’s CEO will be?

Baltic Exchange Looks To Expand Following Acquisition By SGX
American Shipper (subscription)

London Stock Exchange Group Plc Transaction In Own Shares
MondoVisione

Private Markets

Repo Clearinghouse Adds Buy-Side In Move To Quash Systemic Risk
Bloomberg

PLY: Has DTCC reduced their waterfall risks?

Sebi Appoints Enquiry Officer To Vet Deloitte’S Forensic Audit On Nse
Business Standard

Augur Enters Front-End Design Partnership And Begins Contract Audits Before Launch
CryptoNinjas

Augur will be working with IDEO’s CoLab team, which also helped design Linq, NASDAQ’s private markets blockchain trading platform.

Special Section: FTI, NSEL, India at the Crossroads

NSEL Scam: Maharashtra Govt Starts Auction Of Seized Assets
Livemint

PLY: Good thing too, albeit long overdue.

Technology

NEX Optimisation Production Testing NEX Infinity
MilTech

PLY: So to clarify, essentially NEX is developing a single point of access portal for trade processing (initially testing forex and cash equities) – which can be opened to third party vendors – enabling all NEX clients to potentially access all services with one agreement and a single POP, using SaaS from AWS where the database has been swapped out for a DL which therefore minimises data confusion/errors as well as data input being reduced to a single entry. Simples.

Products

Moscow Exchange Is To Introduce New Program To Stimulate Liquidity On USD/RUB Currency Pair
MondoVisione

Career Paths

Carsten Kengeter’s Hat-Trick?
finews.com

PLY: Swiss site is bullish CK1 can avoid insider dealing charges, get a contract renewal and his bonus. Failure tinged with a suspicion of transgression has clearly never been so lucrative. Looks like a big turnaround for the CEO who didn’t even turn up to the IOMA event he was hosting in his own bourse just a few weeks back, despite being in his Frankfurt office…

Office Of The Comptroller Of The Currency: Michael Sullivan Named Senior Deputy Comptroller For Economics
MondoVisione

Commerce’s Wilbur Ross: The Woman Heading The Saudi Stock Exchange Is A Symbol Of Change
CNBC

Crowdfunding

Kickstarter Has A Plan To Free Products From Manufacturing Limbo
Popular Science

If you have ever bought into a Kickstarter campaign and waited for what may have felt like forever to get what you paid for…

PLY: Interesting approach.

Funding Circle Boss Steps Down From P2P Fund
Citywire.co.uk

Orca Announces Launch Of Proprietary Rating For Peer-To-Peer Investments
MondoVisione

Other Stories

FESE: Response To Commission Consultation On European Supervisory Authorities
MondoVisione

PLY: Broad, sound response from FESE.

CFTC: Federal Court Orders More Than $1 Million In Restitution And Civil Monetary Penalties And Permanently Bans Andrew Kurzbard And His Florida-Based Company, Guardian Asset Group, LLC, For Engaging In Illegal, Off-Exchange Precious Metals Transactions
MondoVisione

PLY: Case of serious geolocational problem obviously, had he but handed over a bit of paper saying “IOU a few tonnes of gold,” he could have been seen as a legitimate institutional gold dealer in some places…

CFTC Unanimously Approves Amendments To Recordkeeping Requirements
CFTC

Mergermarket Group Bolsters Equity Technology And Analytics Capability With Acquisition Of TIM Group
MondoVisione
Have a very Happy Ascension Day tomorrow, we’ll be back with Issue 1002…

All the best,

Patrick

Patrick L Young
Executive Director DV Advisors

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