MAY 25 2017

A very Happy Ascension day to one and all. Incredibly despite being popular across much of Europe (and naturally a lot of ‘ponting’ is taking place in the parts where they rarely translate “work ethic” into the local lingo), it seems not to be a holiday in Malta…

Old habits die hard, but instead of looking at Weissach’s finest today, over to Maranello where issue 1002 corresponds to the magnificent in the ex-Scuderia Montjuich Ferrari 512M chassis number which amongst other things took the British Land Speed record driven by gentleman’s outfitter Robert Hornel in 1977 (192 mph).

Prosperity UK Video

Still a key parish topic: Prosperity UK Panel – Brexit, Euro Clearing & Financial Market Structure: chaired by Barney Reynolds headlining parish luminaries Jeff Sprecher and Michael Spencer, with Patrick L Young lurking in the background.

In Today’s Exchange Invest

Terry Duffy recuperating after hospitalisation, I wish him all the best for a speedy recovery. Some stories from the Oz Stockbrokers conference with Dominic Stevens and Blythe Masters amongst the speakers while the IPO of the day is the new unified Argentine stock market which opened to a healthy spree of purchases!

And there’s more, happy scrolling:

In BigWorld

There’s a legal spat in the USA as a private citizen is seeking to sell the original charter of Alcoholics Anonymous which somehow got parted from the association’s purview. Clearly one of those unfortunate things which can occur after one too many, you leave things behind in all sorts of odd places and forget about them…

Public Markets

Complete FX Global Code Published
MondoVisione

PLY: And a slew of folks are endorsing it – LMAX was the lowest latency I could find… Plaudits to Guy Debelle and the Working Group on completing this vaguely Herculean task. Having scanned the code it does not mandate the use of “shag” at any point in trader dialogue not is “ship it in” regarded as a standard order entry phrase. These are remarkable times for the forex marketplace.

CME Group CEO Terry Duffy Recovering From A Collapsed Lung
Chicago Tribune

CME Group Inc. Announces Preliminary Results From Its 2017 Annual Meeting Of Shareholders
MondoVisione

ASX CEO Dominic Stevens Says Australia’s ‘Sweet Spot’ Is Smaller IPOs
The Australian Financial Review

The chief executive of the ASX is talking up Australia’s initial public offering market and says that by the time the mining sector rebounds, investors will …

ASX’s Blockchain Designed To Help Competition: Blythe Masters
AFR

PLY: Note the lavish equivocation: “If competition is mandated in a certain format, then we will help ASX accommodate that.”

Cash Is King For Euronext And R3, But For Very Different Reasons
www.waterstechnology.com

Shares of Combined Argentina Exchange Debut In Buenos Aires
Reuters

Thomson Reuters Announces Annual Renewal of Normal Course Issuer Bid
MondoVisione

PLY: Reuters looks to buy back up to 5% of its shares over the next year.

Moscow Exchange Enters Strategic Cooperation Agreement With Shanghai Stock Exchange
MondoVisione

London Stock Exchange Group Plc Transaction In Own Shares
MondoVisione

Mandatory Notification Of Trades – Oslo Børs VPS Holding ASA
MondoVisione

Private Markets

NSE Will Hope To Launch Its Global Exchange In Gift City In 1st Week Of June
Moneycontrol.com

PLY: Joining the BSE’s international venture in GIFT City. However, NSE appears to be struggling: its proposed oil contract has not yet been approved, there is no confirmation of the Group CEO and there is no head of the NSE GIFT market either…

FIS To Sell Majority Interest In Litigious Capco Consulting Business
Banking Technology

CD&R operating partner Russ Fradin, the former CEO of SunGard (FIS bought Sungard in 2015 for $9.1 billion), will serve as chairman of the …

FIS will sell off its majority ownership stake in Capco to private equity investment firm Clayton, Dubilier & Rice (CD&R), establishing Capco as an independent company, with FIS owning 40%. Capco expects to receive $477 million for circa 60% of the company.

PLY: I can well recall the time when it appeared Capco was about to take over the world…

Special Section: FTI, NSEL, India at the Crossroads

No news today.

Technology

Nasdaq To Deliver Post-Trade Technology To Depósito Central de Valores (DCV) – The Chilean Central Securities Depository (CSD)
MondoVisione

PLY: Great deal for NASDAQ with Chile’s CSD.

TMX Group Develops Blockchain Prototype For Energy Business
MondoVisione

PLY: As reported yesterday in Exchange Invest. interesting.

IHS Markit Unveils Outreach360 Platform
GlobalCapital

PLY: The rush to make sense of multiple minutiae and reporting requirements, speaking of which:

The New Gold Rush — Europe’s OTC Market Data Transparency Push
Financial Times

PLY: Good article by Phil Stafford, outlining much of the data shuffling going on as a result of the overly assiduous prescriptions of MIFID II.

Introduction Of T7 Release 6.0 On 4 December 2017
Eurex Exchange

Products

EEX Freight Futures – Inclusion Of Turnbull-Wakeman Algorithm Into Options Valuation Model
MondoVisione

Career Paths

Marta Bartolomé Yllera Is Appointed New BME CFO

PLY: In Chicago, congratulations to those (re-)elected to the CME Board:

Terrence A. Duffy, Timothy S. Bitsberger, Charles P. Carey, Dennis H. Chookaszian, Ana Dutra, Martin J. Gepsman, Larry G. Gerdes, Daniel R. Glickman, Leo Melamed, Alex J. Pollock, John F. Sandner, Terry L. Savage, William R. Shepard and Dennis A. Suskind, Jeffrey M. Bernacchi, Gedon Hertshten, Howard J. Siegel, Ronald A. Pankau, David J. Wescott and Elizabeth A. Cook.

HFT Ambassador Cameron Smith Steps Down From Electronic Trader Quantlab
Financial News (subscription)

PLY: Finally congratulations to Stephen Grady, head of market structure and strategy at consultancy Ipreo, who will join the board of Liquidnet Europe where I served a term myself.

Crowdfunding

Nothing significant today.

Other Stories

ESMA Publishes Updated AIFMD And UCITS Q&As
MondoVisione

ESMA Closed For Public Holidays On 25 And 26 May
MondoVisione

New York State Department of Financial Services Fines BNP Paribas $350 Million For Illegal, Unsafe And Unsound Conduct…
MondoVisione

PLY: Now consider the levels of the fines on the likes of BNP Paribas when POTUS stands at the lectern to denounce European trade protectionism over Euro clearing…

Trump’s Ferrari Sale Spotlights A Struggling Luxury-Asset Market
Bloomberg

FIA Japan Newsletter May 2017 Edition Released
MondoVisione

Happy Ascension Day!

All the best,

Patrick

Patrick L Young
Executive Director DV Advisors

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