Doing deals, a touch frantic, happy scrolling…
Krista Angela M. Montealegre – Business World
The envisioned unification suffered a major setback on Friday, as the deadline to secure regulatory clearance lapsed with SEC taking no action PSE’s application to buy out shareholders of PDS.
QV Premium: PSE – PDEx Merger Brief.
Peter Evans – Sunday Times
Breon Corcoran’s existing shares and options in Betfair will be converted into Paddy Power stock if, as expected, investors in the two bookies vote for the deal next month. Under the terms of the agreement and at current prices, his holdings will be valued at more than €70m ($74m).
On top of that, Irish-born Corcoran — who will become CEO of the renamed Paddy Power Betfair — has been awarded a 30% pay rise and the prospect of millions more in annual bonuses. In total, the 44-year-old could take home almost €6m ($6.3m) each year. QV Premium: Exchange Deals Brief.
Philip Stafford – Financial Times
DB1 is to follow in the footsteps of LSE by encouraging investors to trade large blocks of shares hidden from public view without breaching new rules on controversial “dark pools”.
The operator of Germany’s largest stock exchange on Monday will launch an amended form of share “placements” on its public market — a type of order that may only been seen by people involved in similar deals.
PLY: After a dalliance with Liquidnet, DB1 goes DIY dark..
Formal postponement to European trading rules moves closer.
Huw Jones – Reuters
The Securities Association of China will ban brokerages from offering financing for stock market trading using derivatives.
PLY: Shades of post 1929 Wall Street. ..
Andy Home – Reuters
LME announced last week a new raft of rule changes aimed at killing off the persistent load-out queues that have bedevilled its relations with large parts of its industrial user base. Effective March next year standard load-out rates from LME warehouses will be raised. Again.
Remya Nair – Livemint
In a meeting on Friday with state-run companies exploring bond issuances, LSE pitched its large investor base and foreign exchange market to encourage firms to explore listing in London.
David Wighton – Financial News
LSE has diversified a bit since John Castaing started making prices in Jonathan’s Coffee House at the end of the 17th century. And its appetite for new ventures shows no sign of waning.
PLY: For those who prefer physical markets in coffee and trade, I suggest Mrs Young’s Hanza Cafe where they serve Manufaktura Hanza coffee over business discussions…
The Economic Times
Large foreign investors including Goldman Sachs, Temasek and Morgan Stanley have approached the government to expedite the process for listing of top stock exchanges BSE and NSE, where they hold significant stakes.
This group of 17 overseas investors, which also includes DB1, SGX, Argonaut PE, SAIF Partners, Tiger Global, Acacia Partners and General Atlantic, has said that the listing of the bourses would help various public sector entities and others who have invested there.
These investors together hold 31.12% in NSE and 25.30% stake in BSE.
PLY: Happy birthday to all the team who have built an excellent market.
Taiwan SE (TWSE) has launched an online ‘Rules & Regulations Directory’, providing international investors and the media with a centralized location for all 238 Taiwan capital market regulations in both English & Chinese.
Yessi Bello Perez – CoinDesk
Special Section: FTI, NSEL, India at the Crossroads
PLY: MCX up 1% while FTIL is up to 2%
Anna Irrera – Financial News
Digital financial services investment and advisory firm Anthemis Group is in the process of raising a $100 million venture capital fund to back fintech start-ups.
PLY: Good luck to Sean Park and team.
Chris Flood – Financial Times
Policymakers in Hong Kong must act to strengthen its position as a regional hub for ETFs or risk losing more ground to regional rivals.
Jayshree P Upadhyay & Anup Roy – Business Standard
Sebi is set to announce a platform for online sale of privately placed corporate debt. The announcement is likely after the regulator’s quarterly board meeting on Monday.
Reuters reports that Karin Forseke, Chairman of Alliance Trust, said on Friday she was stepping down from her role on January 1, as the company implements a major overhaul following pressure from activist investor Elliott Advisors.
30.11 – 01.12 – CBOE Risk Management Conference (RMC) Asia
01.12 – Record date Interactive Brokers $0.10 quarterly dividend
01.12 – Record date Virtu Financial $0.24 quarterly dividend
04.12 – Record date CBOE $0.23 dividend
04.12 – TMX $0.40 dividend payment
04.12 – BGC Partners $0.14 quarterly dividend payment
All forthcoming exchange / investment related events are now listed in our Events page.
Madeline Ratcliffe – CITY A.M.