NOVEMBER 22 2016

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A bit of a rallentando of news towards Thanksgiving which at least means there will be a hiatus of rioting against the democratic process as voters turn their attention to rioting instead for Black Friday ‘bargains.’

In Today’s Exchange Invest

LSE buys a little info nugget, FTIL grows profit, DB1 pledges everlasting dedication to SME funding while trying to ignore its dismally cyclical record in the Neuer Markt past.

And there’s more, happy scrolling:

Events

Most of my events before Christmas are private but as a reboot with Russia appears in the Trump governmental, The MOEX Annual Forum in London on Tuesday December 6th is surely a must attend event like its sellout US counterpart in New York last week. Join the event free via Exchange Invest here.

In BigWorld

Angela Merkel will be running again in the German elections next year – presumably sparking unalloyed joy about those who place bumbling inactivity as a priority over actually solving any problems or making any progress.

Public Markets

LSE Boosts Information Business With Acquisition Of US-Based Mergent
City A.M.

PLY: Neat little nugget to add to the info services and indexing enterprises of LSEG.

63 Moons Technologies (FTIL) Q2 net profit rises at Rs 28.43 cr
Economic Times

Its net profit stood at Rs 1.74 crore in the year-ago period, the Mumbai-based company, formerly known as Financial Technologies India Ltd (FTIL),

63 Moons Technologies Q2 Net Profit Rises At Rs 28.43 cr
Economic Times

PLY: The beast lives…

Canada Competition Watchdog Finds TMX Group Did Not Violate Competition Rules
Reuters

LME COO Goes On Indefinite Leave – Sources
Reuters

PLY: Stuart Sloan apparently out of office at LME, reasons unclear…perhaps linked to yesterday’s CFO arrest news on fraud? (Not suggesting SS was involved but rather internal investigations may be better with him away from his desk?). Whatever the circumstances, hope this all gets resolved.

What Stalled The Shenzhen-Hong Kong Trading Link
CNBC

PLY: CNBC Alleges Fear Of Capital Flight From China.

Deutsche Börse Gambles on Small Businesses
Handelsblatt Global Edition (subscription)
Deutsche Börse: New SME-Segment To Facilitate Access To Growth Capital For Enterprises – Launch Date Set For 1 March 2017 – Mandatory Research Reports And Verification By Capital Market Partners, Appointed By Deutsche Börse
DB1

PLY: March 1st 2017, ending a woeful decade and a half hiatus caused by careers coming before corporate long term thinking, there’s a new DB1 market for SMEs. Difficult to believe it will last as the notorious German mittelstand long-term thinking thing just doesn’t fit easily around hat is broadly perceived as a currently rather slapdash, disorganised and desperate to merge, DB1 management approach.

Compression Now A Cornerstone Of Global Derivatives Industry
Financial Times

PLY: A review of the wonders of what TriOptima brought to the parish – and the prescience of Michael Spencer in seeing the opportunity long before anybody else.

Private Markets

Sebi Keeping A Watch Over Huge Fall In NCDEX Futures Volumes
Economic Times

Mumbai: Sebi has taken note of the steep, three-fifths fall in daily volumes on India’s premier farm futures exchange NCDEX.

PLY: Demonetisation of large notes impacting NCDEX hard.

Eris And R.J. O’Brien Fixed Income Group Release Second Hedge Accounting Paper
PR Newswire (press release)

PLY: Interesting reading.

BSE To Scan Rumours On Social Media To Check Stock Manipulation
Hindu Business Line

PLY: #Goodluck

Special Section: FTI, NSEL, India at the Crossroads

PLY: BSE will doubtless have noticed their social media tickers throbbing with ire at FTIL/63 Moons’ latest profit numbers but no actual news towards NSEL resolution.

Technology

Why Goldman Sachs and Santander Are Bailing on R3’s Blockchain Group
Fortune

PLY: The freewheeling days of just calling a few banks and getting $200 million for another Blockchain project may be in decline – about time too. Goldman seem to be concentrating on their previous investment in DAH.

London’s Wounded Fintech Scene Finds Unlikely Hero After Brexit
Bloomberg

PLY: A competitor for worst headline of the year, in what has been a bumper 2016 for really ghastly legacy media reporting. Another attempt by Bloomberg to become the New York Times (aka irrelevant & remote) is at least headed off at the past by John Detrixhe’s writing which moves the article away from the moronically inaccurate headline by noting how London actually existed before the EU and indeed as a financial centre, has been going longer than many of the EU’s democratic states (and will likely outlive a great many of them too, while London remains a major financial centre).

JPX To Track HFT
Nikkei Asian Review

Japan Exchange Group aims to use those IDs to directly track orders from HFT without relying on information from brokerages.

Products

HKEx Plans Gold Future For Early 2017 – Sources
FOW magazine

HKEx has opened talks with its main bank and trading clients over the possible launch in early 2017 of US dollar and Renminbi-denominated gold.

Oil Speculation Rule Gets Final CFTC Push Before Trump Takeover
Bloomberg

The rule that the CFTC proposed in 2013 set limits in 28 commodities for derivatives.

NYSE Becomes First Major Exchange To List Cannabis Company With Acceptance Of REIT IPO
Forbes

Earlier this year, the Toronto Stock Exchange reversed its stance and took the plunge and uplisted the Canopy Growth Company, which actually

Editorial | Explain fully FX plan
Jamaica Gleaner

With the BOJ* becoming a central clearing house for FX, how it will impact on private foreign exchange users?

PLY: *Bank of Jamaica, btw, naturally you realised that immediately…

Developments In The Green Bond Market – Joint ICMA SIX Swiss Exchange Seminar
MondoVisione

Indexes

S&P Global Platts & Intercontinental Exchange (ICE) To Improve Natural Gas Price Transparency And Bolster North America Benchmarks
MondoVisione

Career Paths

As noted above, LME COO Stuart Sloan is reported to have gone on indefinite leave from LME. It is not clear if this is linked to the fraud charges against the CFO yesterday.

CME to hire DME’s Owain Johnson to target energy
FOW magazine

The SEC Trading & Markets Director Stephen Luparello is leaving, as is Chief Litigation Counsel Matthew C. Solomon, in the wake of Chairman Mary Jo White standing down last week.

The recently appointed members and alternates of the ACER’s Board of Appeal (BoA) met for the first time in Ljubljana on 17 November 2016 and designated Mr Andris Piebalgs as Chairman and Mr Jean-Yves Ollier as Vice Chairman of the BoA for a two and a half year term.

Crowdfunding

Nothing tickled my collective fancy from the crowd news today.

Other Stories

FINCONS Group Awarded Prestigious ELITE Quality Certification By LSE
Industry Today

PLY: No, seriously, apparently April 1st didn’t come early. There really is a consultancy called “FINCONS” – I just had to include this, it’s one of those whacky globalisation on steroids English as a foreign language things – here apparently that rare cantonese dialect, Swissglish.

Meanwhile has anybody received any non-prestigious ELITE certifications yet? Presumably this must be another part of the programme…

CFTC Staff Issues Time-Limited Extension Of Swap Data Reporting Relief For Certain Swap Dealers And Major Swap Participants Established Under The Laws Of Australia, Canada, The European Union, Japan Or Switzerland
CFTC

ESMA: Questions And Answers On UCITS Directive
ESMA

SEC Announces Agenda For December 8 Investor Advisory Committee Meeting
SEC

Back to the office, 1,349,876 emails, sitting in the inbox – or thereabouts.
…”1,349,876 emails sitting in the inbox” (sing along to the tune of “10 green bottles”)…

If you are in this queue, your email may be answered shortly, apologies for the delay and have a good day.

Patrick

Patrick L Young – Executive Director DV Advisors

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