NOVEMBER 18 2016

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Yesterday the Boerse Stuttgart celebrated their 10th anniversary MIFID Congress with a fabulous event where it was both a pleasure and an honour to introduce and then run a Q&A with ESMA Chairman Steven Maijoor. A fabulous event all round. My thanks to Boerse Stuttgart for the invitation. It was a pleasure to both attend the packed house in the Liederhalle/Congress Centre and chair what was a fascinating session.

By evening it was great to make it to the 4th European Issuers / FESE SME Awards – a fabulous night once again and plaudits to all the nominees as well as the organising team.

In Today’s Exchange Invest

Michael Spencer’s new digital focus scoops the headlines again alongside the Steven Maijoor presentation at Boerse Stuttgart’s 10th annual MIFID Congress and the 4th SME Awards presented by European Issuers and FESE.

Great news for FESE and Lee Hodgkinson, not to mention Per Loven and Cinnober / Boat, amongst others with career enhancing moves good for the parish as for the first time the Chair of FEAS is not from Turkey…

And there’s more, happy scrolling:

Events

The MOEX Annual Forum in New York was a standout sell-out success while but the event in London on Tuesday December 6th still has space. Join the event free via Exchange Invest here.

In BigWorld

Point to ponder: after the Brexit vote, a startled, wrong footed, legacy media was convinced the British Tory party was in disarray and the appointment of a new Prime Minister and cabinet would be a complete disaster.

Wonder how things are going with the Trump transition.

Public Markets

ICAP’s Spencer Reboots Market Stalwart With a Big Bet on Digital
Bloomberg

PLY: NEX go… Always liked this concept, I think it has a fascinating future.

ESMA Chair Says Safeguarding Investors Is Key To Capital Markets Union’s Success
Boerse Stuttgart / ESMA

PLY: Very interesting remarks, my initial concern of over-prescriptiveness was somewhat salved by listening to what was an ode to transparency on all fronts to build investor confidence. At the same time, I heard a message at the beginning of my day (Boerse Stuttgart Chairman Dr Michael Volter) and near it’s end (FESE President Deirdre Somers) and that was (slightly paraphrased) ‘abandon the madness of the tick size regime.’

It was a great event in Stuttgart and I applaud all the Boerse Stuttgart team for their excellent work particularly Dr Martin Wagener and Carolin Koch who took up the baton of organising this event from its original creator Christoph Boschan who of course now runs the Vienna exchange.

‘Winners: 4th European Small And Mid-Cap Awards’
FESE / European Issuers

To Granges and Immunovia listed on NASDAQ, and Onco Design of Euronext, vast plaudits as winners of awards and indeed a special mention to Applegreen listed on the FESE President’s Irish SE. Deirdre clearly had not been given any pre-trade data and it was delightful to see her unalloyed joy at the victory of a fascinating Irish growth story.

(For lovers of trivia, I would also note that Applegreen was perhaps the only finalist amongst 12 who didn’t have a stern bearded hipster behind a computer screen in their promotional video).

Once again a marvellous event, well done European Issuers and FESE, Florence Bindelle and Rainer Riess, your teams excelled themselves once again.

Multiple Markets Can Help Attract Startups, Says LSE Chief
South China Morning Post

London Stock Exchange agrees with the Hong Kong stock exchange principle of “one share, one vote…”

Europe Is ‘Unlikely’ To Seize Euro-Based Clearing From London: S&P
Telegraph.co.uk

HKEx CEO Li: Trading Link With Shenzhen To Go Live In Days
Reuters

…Speaking at the Shenzhen stock exchange in the first stop of a roadshow in mainland China to promote the trading link.

BM&FBOVESPA Has Opened The Second Phase Of Public Hearings For The Special Corporate Governance Segment’s Development Process – Exchange Is Receiving Comments Until January 06, 2017. Closed Hearings Begins March 15, 2017
MondoVisione

Private Markets

Social Stock Exchange Seeks To Raise Funding
iCrowdNewswire

PLY: Seeking to raise 500K GBP to 5 million (6.1 m USD) through crowdfunding campaign

Special Section: FTI, NSEL, India at the Crossroads

No news today…

Technology

ID Finance: Volume of Global Investments in FinTech in 2016 Will Exceed $30 Billion
Business Wire (press release)

Products

Israeli Binary Options Firm To Repay Money It Fleeced From 4000 American Victims
The Times of Israel

PLY: Steven Maijoor was rightly standing firm on the issue of cracking down on dodgy binary and CFD companies yesterday during his speech at the Boerse Stuttgart MIFID Congress.

Indexes

No news overnight.

Career Paths

Before the 4th European Issuers / FESE Awards in Brussels, the FESE General Assembly made an inspired unanimous decision to elevate Euronext’s Lee Hodgkinson to the position of Vice President, further enhancing President Deirdre Somers’ board where the following gained renewed 3 year terms:

Bente Landsnes, CEO of Oslo Bors
Robert Scharfe, CEO of Luxembourg Stock Exchange
Martin Reck, MD Cash Markets at Deutsche Boerse

…While the other Members of the Board include:

FESE President: Deirdre Somers, Irish Stock Exchange

Carlos López Marqués, BME
Petr Koblic, CEESEG
Marios A. Pilavakis, Cyprus Stock Exchange

Uwe Schweickert , Deutsche Boerse
Tim Grange, ICE

Kirstina Combe, LME
Lauri Rosendahl, NASDAQ
Ian Cornwall, SIX Swiss Exchange

PLY: Of all the industry associations, FESE has by far the most focussed board and in its secretariat under DG Rainer Riess.

Elsewhere in the parish associations, for the first time since its establishment 20 years ago, FEAS has a non-Turkish Chairman, with Dr. Mohammad Omran, EGX Chairman being elected after gaining a majority over the Iran Fara Bourse candidate.

Over at the World Federation of Exchanges, I am pleased to hear that stalwart member and Bermuda SE CEO, Greg Wojciechowski has been elected to the board.

Former TMX Exec To Join New Canadian Securities Regulator

Reuters

Former TMX executive Kevan Cowan has been appointed chief regulator of a yet-to-be-created national securities regulator.

PLY: Very interesting.

Boat Services Appoints Per Lovén As Commercial Director – Per Lovén Joins Boat Services To Focus On The Firm’s Commercial Strategy

Cinnober

PLY: Brilliant news, the charming and hyper-capable Per Loven, previously with Liquidnet is joining Cinnober’s Boat Services arm – excellent hire and one which ought to be vastly productive all round.

Markit Co-Founder Rony Grushka To Join Algomi Board Of Directors

BusinessWire

Crowdfunding

Zopa Aims To Become A UK Bank
ComputerWeekly.com

PLY: P2P’s scaling up akin to MTFs which gain full exchange licences.

Lending Club’s Laplanche Back With New Venture
PYMNTS.com

Renaud Laplanche, Lending Club’s former CEO is returning to the P2P parish.

Other Stories

International Commodities & Derivatives Association Signs MOU With The China Futures Association
MondoVisione

PLY: It was great to see the strong Chinese delegation at ICDA Burgenstock this week and China Futures Association’s MOU with ICDA is an encouraging sign for both organisations.

Speed Bumps – Beyond Good and Evil
Traders Magazine

OCC Comment Letter: Extension Of The Transitional Periods Related To Own Funds Requirements For Exposures To Central Counterparties
MondoVisione

2016 Government-Business Forum On Small Business Capital Formation Opening Remarks, SEC Commissioner Kara M. Stein, Nov. 17, 2016
SEC

Off to some meetings in Brussels, and then by Monday or Tuesday I might even see something akin to a home of my own… Have a great weekend.

Patrick

Patrick L Young – Executive Director DV Advisors

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