NOVEMBER 25 2016

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Lest you missed it, my brief Interview with Steven Maijoor after his speech (speech transcript here) from the Boerse Stuttgart MIFID Kongress can be viewed here.

Whether it was the emotion of Turkey Lives Matter over Thanksgiving or just limbering up for Black Friday’s credit card fuelled rioting, you may have missed Exchange Invest yesterday.

In Today’s Exchange Invest

Godot was never this acutely awaited by the investors on Shanghai and Hong Kong respectively while Hungary’s Keller expands its CCP into Romania (due to the failure of incumbent structures).

And there’s more, happy scrolling:

Events

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.

Right now I am en route to Wroclaw, Poland (Breslau for those who prefer their Prussian cities in German) where I will be a judge at this weekend’s FinTech themed StartUp Weekend.

In BigWorld

Post Turkey Day – it’s time fight or flee (with or without gift wrap) as America goes black Friday shopping.

Public Markets

Disconnect: Traders Wait, And Wait, For Shenzhen Trading Link
Wall Street Journal

PLY: The media sounds rather like that old Onion article where retail investors demanded a bubble so they could have something to pins their hopes to forlornly before it burst.

Central Bank Liquidity Backstop Risks ‘Moral Hazard’ Among Clearers
Financial News (subscription)

Philippine SE Says Board Authorized Obtainment Of Term Loan
Reuters

“Flash Crash” Derivatives Trader Navinder Singh Sarao Settles Spoofing Case
The National Law Review

PLY: The National Law Review catches up with the case where the Hound of Hounslow admitted things which, curiously, various readers thought some exchanges previously said had never happened in the first place.

Private Markets

A Proud Stock Exchange Fights for Life In Shadow Of Tokyo Giant
Bloomberg

PLY: As the ‘only big department store’ narrative is opening to a greater plurality, there is a chance for the Fukuoka Stock Exchange, I hope it can find its niche.

KELER CCP Supports The Further Development Of The Romanian Gas Market
ACTmedia

PLY: Budapest-based KELER CCP will provide CCP services to the Bursa Romana de Marfuri (BRM) commodities exchange. A good move by KELER as competition heats up for the mantle of EBRD blessed pan-CEESEE CCP and at the same time, another good example of the festering fiasco of market failure which is Romania’s (sic) marketplace.

(JSE) Venture Capital Pitch Room 2017
Jamaica Stock Exchange

The Jamaica Stock Exchange Venture Capital Pitch Room (The Pitch Room) competition is open for startups seeking to pitch…

Mandatory Notification Of Trades – Oslo Børs VPS Holding ASA
MondoVisione

Special Section: FTI, NSEL, India at the Crossroads

Still not sure there is a lot of Thanksgiving spirit amongst the creditors owed millions by NSEL but alas, once again there is no news on resolution overnight…

Technology

Trax Launches “Insight+” Comprehensive MiFID & EMIR Regulatory Rules Engine
GlobeNewswire (press release)

Acquired by MarketAxess in 2013, Trax is a trading name of Xtrakter Ltd. and is a wholly owned subsidiary of MarketAxess Holdings, Inc.

Increasing ETF Trading Efficiency With Tradeweb Pre-Trade Transparency
Tradeweb

European investors’ appetite in exchange-traded funds (ETFs) remains healthy. Combined assets for European ETFs and exchange-traded products

Fintech Startups Look To Build On US Mortgage Market Share
Financial Times

Products

MEFF Launches Wind Derivative Contracts
MondoVisione
BME Plans Wind, Power Contracts Next Month
FOW magazine

BME derivatives arm MEFF said it plans to launch a wind future, a wind swap and a mini-power contract

LME Consults On Plans For Q2 Precious Launch
FOW magazine

LME, has issued a consultation paper.

PLY: Still stony silence over the extent of the recent alleged frauds both from LME and in the media who clearly aren’t digging very proficiently.

New Market Segment For Alternative Investment Funds
GlobeNewswire (press release)

Nasdaq Nordic will launch a new Market Segment on Nasdaq Stockholm, OMX STO Alternative Investment Funds.

Indexes

Moscow Exchange Index Calculation Methodology Registered By The Regulator
MondoVisione

Career Paths

Remarkably a paucity of staff shuffles as the world digested America digesting turkey. In other news, some new hiring is planned in the Exchange Invest offices come the new year…

Crowdfunding

Swiss Financial Market Supervisory Authority Wants to Become Innovation Friendly
Crowdfund Insider

Could This Become an Essential Cog in the Crowdfunding Ecosystem?
AltFi

PLY: Profile of private share market AssetMatch.

Other Stories

Skin In The Game? I’m Putting In £115 Million Of Mine, Says Terry Smith
Spectator.co.uk

PLY: Typically illuminating article with the combative Terry Smith whose straight talking logic remains worth reading as he bulks up his own investment in his Fundsmith fund management business..

Man Who Posed As PSE Broker Nabbed For P8M Fraud
Inquirer.net

A former employee of the Philippine Stock Exchange was arrested for defrauding an investor of P8 million…

Steinberg: Giving thanks To The Police Officer Who Didn’t Shoot
Chicago Sun-Times

PLY: If you only read one story today, read this one. It involves a parishioner and a habit which threatened to get the better of him but he owes a great deal to a good policeman. A heartwarming Chicago story for the Thanksgiving weekend which reminds me a little of the tale “From the Pits to the Pits” by ex-CBOT trader Jim Goulding.

Set Of Matching Museum Quality c. 1894 Chicago Stock Exchange Trade Room Skylight Art Glass Panels
Urban Remains

Matching set of incredibly rare late 19th century leaded art glass skylight panels salvaged from the adler & sullivan chicago stock exchange building.

PLY: If you really must shop on Black Friday why not make a parish purchase with panache?

Enjoy your Black Friday, wear extra padding if you are joining the shopping fray and have a great weekend.

Patrick

Patrick L Young – Executive Director DV Advisors

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