NOVEMBER 30 2016

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It’s issue 888 of Exchange Invest, I hope it’s a lucky day for you and moreover, might I say as another calendar year draws to a conclusion, all commercial interactions are welcome – Exchange Invest has cost me a significant sum to establish and run. Moreover various parties have proven recalcitrant to back the project to create a single daily parish source of information, simply because they have been challenged in the past by my pith. I’ll continue to work for the betterment of the parish but it is fair to say a lot of folks get a lot of benefit from EI for free and I would welcome a lucky windfall of some more revenue! Hit reply and email me so we can have a commercial discussion – all sensible suggestions welcome.

In Today’s Exchange Invest

Cetip optimistic on approval of takeover by BM&F Bovespa, TNT-ICAP deal approved by German regulator, LME fraud case hearing sees husband of former exchange accountant seek dismissal of charges against him while the Chicago SE provides details on its Chinese takeover in an effort to allay fears of critics.

And there’s more, happy scrolling:

Events

The MOEX Annual Forum in London is less than a week away: Tuesday December 6th. Strikes me as a must attend event like its sellout US counterpart in New York a fortnight ago. Join the event free via Exchange Invest here.

In a month replete with surprises, I arrived at the Malta SE annual dinner to find out that the winner of their first Lifetime Achievement Award was none other than the greatest living Maltese citizen, the brilliant Edward De Bono.

It was an incredible honour to give a brief address to the diners between the Finance Minister and the farewell remarks of outgoing CEO Eileen Muscat. It was an even greater honour to be able to address the packed audience at the Chamber of Commerce following in the footsteps of the man who termed the phrase lateral thinking.

My thanks to Chairman Joe Portelli for the invitation and to new CEO Simon Zammit for the generous introduction at a dinner which marked one of the many 25th anniversary celebrations for the Maltese bourse.

In BigWorld

2017 marks the 50th anniversary of Professor Edward De Bono coining the phrase “lateral thinking.” Some parishioners might find that a fitting moment to celebrate his innovative approach to thinking…particular in an age when the linear thinkers seem to be having huge problems accepting the challenges around us.

Public Markets

Cetip Expects To Get Cade’s Nod For Merger With BM&FBOVESPA by February
snl.com

Husband Of Former LME Accountant Wants Fraud Charges Dismissed
Reuters

PLY: At first sight the case against Mr Norris appears thin while the case against Mrs Norris is continuing to draw a remarkable level of inscrutable opacity from LME which leaves many parishioners uncomfortable about both the LME’s tacit position as well as what appears an apathetic media.

Tullett Prebon Gets Approval On ICAP Deal From German Regulator
Financial Times

Private Markets

Chicago Stock Exchange Tries To Ease Fears Over China Deal
Reuters

FTT Talks Postponed From December To January
Automated Trader

PLY: Belgium, Slovakia and Slovenia said to be vacillating on endorsing the beast which must be killed to give the EU a sporting chance of financial survival, albeit with the proviso that politics may, er, trump (but not Trump) the current incarnation of a unified European entity.

Special Section: FTI, NSEL, India at the Crossroads

No news today.

Technology

JPX: Launch Of Consortium And Proof Of Concept Testing For Capital Market Infrastructure Utilizing Blockchain Technology
MondoVisione

Products

Royal Mint, CME Group Launch Blockchain-Based Gold Trading Platform
Reuters

Japan’s Need For Aluminum Premium Futures Is Limited, Says LME Chief
Platts

Japan’s need for aluminum premium futures is limited, LME CEO Garry Jones told the LME Tokyo Gala event Tuesday.

African Exchanges To Attract Liquidity By Focusing On Smaller Businesses
Daily Times Nigerian Newspaper

PLY: Good.

Top Global Coffee Buyers Eye Direct Sales With Farmers
Business Daily

Top world coffee buyers are in Kenya to ink direct purchase deals with farmers and avoid the Nairobi Coffee Exchange.

PLY: Not good.

Putin’s Oil Benchmark Dream Fails to Attract Foreign Traders
Bloomberg

PLY: A rather brutal write off of a product which only launched yesterday! Indeed foreign players are not yet present but as the article itself notes, there is a lot of optionality to encourage foreign players and indeed the story of granular localised benchmark expansion is still in its relative infancy. There are a lot of factors at play here and I think SPIMEX deserves a lot more than a blithe write-off on its launch day.

BSE, NSE Begin Delisting Shares Of Long Suspended Companies
Business Standard

Indexes

If nobody comes up with some good index news, I’ll be forced to create another product…you have been warned.

Career Paths

TMX Chief Digital Manager leaves Toronto Stock Exchange, will focus on blockchain venture
Firstpost

Anthony Di Iorio joined TMX in January. TMX will be presumably disappointed at is departure but the Blockchain world is moving fast and clearly Mr Di Iorio saw another entrepreneurial opportunity.

Markets Media reports former ITG CEO Gasser has Landed at Barclays in New York as head of strategy for markets pre-trade technology.

Fannie Mae Names George W. Haywood, Finance and Technology Entrepreneur, to the Board
PR Newswire (press release)

Ontario Securities Commission Announces New Commissioner Appointments
OSC

Crowdfunding

Fintech Talk: P2P lending: A New Form Of Financial Inclusion
Jakarta Post

Other Stories

The World Is Feeling the Might of China’s Commodity Traders
Bloomberg

Call For Papers Deadline Nears (30th November 2016)
Jamaica Stock Exchange

Panama Canal Widening Brings New Headaches For Panamax Owners
Hellenic Shipping News Worldwide

Banks, Fintech Startups Opt For Partnerships Post Demonetisation Drive
Economic Times

Binary Options – Autorité Des Marchés Financiers Updates Its List Of Illegally Operating Platforms
MondoVisione

Opening Remarks At The Equity Market Structure Advisory Committee Meeting, SEC Chair Mary Jo White, Nov. 29, 2016
SEC Votes To Renew Equity Market Structure Advisory Committee
SEC

Have a great day, I hope the luck of Exchange Invest edition 888 rubs off on you!

Patrick

Patrick L Young – Executive Director DV Advisors

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