NOVEMBER 16 2016

elb2Plaudits to Dan Day-Robinson on another content rich Burgenstock where I was delighted to chair Crossfire yesterday morning – as always an interesting and thought provoking session, hopefully I will have time to return to some of the issues raised in the days ahead.

However the big news from Geneva is that next year the Burgenstock conference will make a return to the Burgenstock Resort, September 11-13 are the dates, I’m hoping to bring Crossfire back to the mountain for what will be a wonderful event…

In Today’s Exchange Invest

ICAP / TNT deal given regulatory green light. LSE hustling Clearnet with the vigour of a stereotype in a Middle Eastern bazaar. And there’s more…


I am en route to Stuttgart for a session tomorrow at the 10th Anniversary MIFID Conference where I will be chairing a discussion with ESMA supremo Stephen Maijoor on MIFID et al. A sell-out audience of 300+ from around Germany and further afield is expected.

Then I will head straight to Brussels for the European Issuers / FESE SME Awards, their 3rd event and now increasingly a fixture in the EU calendar.

The MOEX Annual Forum in New York is already full but the event in London on Tuesday December 6th still has space. Join the event free via Exchange Invest here.

In BigWorld

End of the Project 4 era as Ron Dennis is ousted at McLaren – that’s one of those seven sigma things in motorsport terms.

Public Markets

ICAP Plc Half Year Results To 30 September 2016 – Resilient Performance Despite Ongoing Market Headwinds

PLY: Encouraging numbers from ICAP just as the most encouraging news is:

Britain’s Financial Regulator Approves Tullett-ICAP Deal

PLY: Different perspectives with interesting optionality.

Warehousing Firms Must Diversify Or Face Extinction, Says ACE Exec (subscription)

PLY: Charles Bucknall, group md of ACE offers some forthright thoughts.

Experts Weigh In On Dual Class Shares
The Straits Times

Issues raised at a round-table discussion held yesterday by the Singapore Exchange (SGX) and National University of Singapore.

LSE Seeks To Wrap Up French Clearing House Sale As EU Regulatory Battle Builds
City A.M.

The LCH SA deal is seen as crucial to the success of the London Stock Exchange’s £21bn merger with German outfit Deutsche Boerse.

PLY: Given selling Clearnet achieves nothing to make the DB1-LSE Merger of Equal Desperation anything other than a brazen monopoly, it is unfortunate there is not more media perspective on the possible deal.

“We Won’t Pay One Penny!” Says Euronext As LSE’s Desperation To Sell Clearnet For £430 million
FinanceFeeds (blog)

PLY: At least this has a touch more open cynicism about it than the third rate legacy media coverage which barely questions the logic of a deal which has only the ‘logic’ of monopoly behind it and nothing else.

Private Markets

Growing Appetite For Diamond Investments
The Edge Markets MY

The world’s first commodity exchange for physically settled diamonds — the Singapore Diamond Investment Exchange (SDiX) — began trading earlier this year

Opening Cross: Let’s Face The Music And Dance

Exclusive: Tradologic Introduces European Binary Options Exchange, Binarex
Finance Magnates

PLY: Previously mentioned ahead of launch in September.

MCX Chief Says FMC, Sebi Merger Was The Right Thing To Do

PLY: Interesting feedback in an interview with CNBC-TV18, Mrugank Paranjape, MD & CEO, MCX.

Special Section: FTI, NSEL, India at the Crossroads

No news, no resolution, Jignesh Shah out of jail too…


‘Human, Please Look at This’: Nasdaq Using AI to Spot Abuses
American Banker

Prediction Markets Didn’t Call Trump’s Win, Either


…No Index News so far today.

Career Paths

In what could be perhaps the least surprising political regulatory news of the month., Democrat SEC Chairman Mary Jo White will stand down when President Obama’s term ends.

ICAP Elevates Guy Rowcliffe as its Head of APAC, Post Trade Risk Services
Finance Magnates


Sharia-Compliant P2P Lenders Could Enter Market
Bridging & Commerical

Other Stories

SIX Swiss Exchange In Partnership With ETH ZISC

NYSE Dedicates Hall in Memory of Muriel F. Siebert, Its First Woman Member
Business Wire (press release)

Off to Stuttgart…


Patrick L Young – Executive Director DV Advisors

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