In today’s exchange invest, loss making Mongolia exchange may be privatised while parish IPO fever is growing in India and much more…
Events
In the public domain coming soon, there is Burgenstock (see banner on left) and likewise the Stuttgart SE 10th Anniversary MIFID Conference also advertised to your left… Various private briefings for me in the meanwhile with clients and amongst other trips, the Middle East beckons.
In BigWorld
Beyond the soap opera of the fabulously flawed Presidential elections, real life is still happening and therein a master storyteller has sadly passed away. Vale Andrzej Wajda, whose impact on cinema reverberated around the globe from his native Poland where he was rightly judged a hero. Wherever you delve into his marvellous cinematic canon, such as “The Promised Land,” “Katyn,“ “Man of Steel” or his awesome biopics of “Danton” and “Walesa,” you will come away with a thought provoking experience from a celluloid genius who helped undermine the evils of Communism from within in a remarkably elegant fashion.
Public Markets
PLY: Just in as Exchange Invest raced to pixel.
Euronext War Chest Could Top €900m – RBC Analysts
Financial News
PLY: Good to see Peter Lenardos and his growing team at RBC gaining headline recognition. That said, the skew of this story treatment fits a narrative which strikes me as overly conditional. The notion that the end story is a unified DB1-LSE and thus Euronext picking through some M&A crumbs offered as an appeasement sop which results in an acquisition of the unloved by its current owners Clearnet, is not overly plausible.
The analysis itself includes the simple but clear outlook from Peter Lenardos: “In the exchange space, it is our opinion that ICE (ICE US), CME (CME US), Nasdaq (NDAQ US) and Euronext (ENX FP) are all seeking acquisitions.”
I couldn’t agree more. That also suggests acquisitions may have to be outside the direct parish…and also of course raises the spectre of the limitation on new markets being built…but that’s a completely fascinating story in itself.
Why It’s A Good Time For Stock Exchange IPOs
Livemint
PLY: Useful analysis from Mint.
With The Pound In A Post-Brexit Vote Slump It’s Time For May To Halt Foreign Bids
This is Money
PLY: Another sideswipe at DB1-LSE which the merger folks ignore at their peril. This does feel akin to a stuck record (younger parishioners can consult anybody who recalls analogue music for this metaphor) but the Daily Mail is a stuck record people listen to… Realistically, the GB government lives in hope the EU (or Hesse regulators) will kill the deal first so they don’t have to risk more “post Brexit” tutting from those media outlets stuck on the b side of the record…
Brexit Brings Headaches For Regulation-Weary Traders
Financial Times
PLY: A deft syllogism, Brexit is causing headaches – well only insofar as the Brexit is part of a long-term plan which ought to ease the pain of the random overreach of Brussels whereas anyway EU28 are still at the coal face of trying to make MIFID II a reality…
DFM Invites Experts To Advise On Hedging
gulfnews.com
Private Markets
PLY: A huge dollop of capital raising which may deliver a fillip to both SE and NSE as well as, clearly, a large bunfight between the two major national players to add as much of this listing content as possible.
Mongolian Stock Exchange To Be Privatised
News.mn
PLY: Cabinet proposal to sell off the Mongolian exchange which last year lost 613 million MNT (270,000 USD) and with a value estimated between 5.45 to 20 billion it seems. (USD 24-100 million).
ASEAN Works Towards Single Stock Exchange
VnExpress International
PLY: The idea of one ASEAN exchange strikes me as having as much foresight right now as those slow-moving British cities which removed their tramways within a few years of the renaissance of the medium. Unification of big caps perhaps but to deliver the potential for capital market development, big exchanges are just leaving a gap for Private equity to behave as monopolists, battling crowdfunding…
Channel Islands Securities Exchange Goes International By Opening Up Membership
MondoVisione
PLY: Interesting move from the generally low profile but interesting CISX. |
