| In Today’s Exchange Invest
Cayman Islands the latest to attack the MAD/MAR mayhem with aggressive pricing policy to move listings out of the EU entirely. Goldman may be outsourcing Sigma-X to NASDAQ while there’s more on another IDB probe in the US. HK LME week continues to be broadly reported as a traditional grumbling of end users.
And there’s more, happy scrolling…
Events
A new event joins the roster looking ahead: the MOEX Annual Forum will visit New York Tuesday November 15th and London Tuesday December 6th. Join the event free via Exchange Invest here.
For those interested in MIFID, the biggest forum of the past decade in Germany is back November 17th when I look forward to chairing a session at the 10th Anniversary MIFID Conference. A sell-out audience of 300+ from around Germany and further afield is expected.
Anybody not booked for Burgenstock yet? You can still Claim your discount code via Exchange Invest: (see banner on left- and use this discount code “YOUNG15” to get 15% off the delegate fee). Crossfire kicks things into gear on the AM of 15th with cocktails the evening before. As always, “the right crowd and no crowding” is the mantra of the modern ICDA events borrowed from the heyday of Brooklands.
In BigWorld
I have created a new product just in time for a spot of post Presidential Election rsk transfer. The “EI Presidential Impeachment Index” has a maximum value of 2922 (distance between inauguration on January 20th 2017 and maximum term to January 19th 2025). It has potential to be hugely volatile and indeed with the way Hillary Clinton is going, if she gets elected, the index may trade negative ahead of some FBI clarity over what her latest batch of not very secret emails may have said. Thus a Clinton presidency risks impeachment even before she is inaugurated during the lame duck sessions pre next January (a sort or pre-emptive strike I suppose) while it will probably take at least a few months for a President Trump to witness an impeachment movement against him. Who knows, it might even take longer to see the new President impeached depending on who controls Congress… However, the potential is clearly there.
All exchanges interested in licensing are welcome to email me.
Public Markets
LME WEEK-HKEX To Copy LME “Ring” At New Chinese Commodity Exchange
Reuters
PLY: Looks like Shenzhen will get a new ring to focus minds on the daily fix.
LME Aims For Chinese Warehouse Breakthrough With Electronic Receipt System
Reuters
PLY: LME Shield moving east powered by Kynetix. More on an interesting story which broke yesterday.
LME WEEK: INTERVIEW: Incentive Schemes Adding Volumes But Physical Market Key – LME CEO
Metalbulletin.com (subscription)
PLY: Garry Jones speaks.
Japan Exchange Group: Status Of Acquisition Of Own Shares
MondoVisione
Citigroup Says CFTC Is Probing Banks’ Rate-Swap Businesses
Bloomberg
PLY: It is probes left right and centre in the former IDB heartlands currently.
CME Group to Host Ninth Annual Global Financial Leadership Conference
PR Newswire (press release)
PLY: Ahem. A “Global Financial Leadership” event including keynote speakers Tony Blair and Gordon Brown.
Excuse me? The duo who sold off Britain’s gold reserves and nearly bankrupted the nation with their spendthrift idiocy and delusional belief they had Canute-like powers to smooth out the economic cycle? What can we expect for the 10th anniversary? North Korean leader Kim Jong-Un on corporate governance or Robert Mugabe on the secrets to maintaining hyperinflation?
There are many worthwhile events which deliver continuous professional development credits for their attendees. If you sit through the unctuous anti-democrat Blair or his pathetic side kick Brown, can you perhaps get credit for, say, minor felonies?
I worry about CME when I see things like this. Too much of its approach to branding and marketing is, at best locked in the era of mad men without even the panache of the “Mad Men.” This event looks increasingly like lipstick on a pork belly. Yet CME should be so much more than this but it has mixed up pomp with business focus, I fear.
FXCM Closes Sale of DailyFX to IG Group, Close to 50% Repayment to Leucadia
Finance Magnates |
It’s All Saints Day, an opportunity to consider those in the afterlife or if you are in the US encourage those no longer with us to “vote early and often,” as is apparently quite the fashion in some states.