It’s a Monday but it’s not November yet, so no fireworks on the Hong Kong-Shenzhen through train but it’s coming soon….
In Today’s Exchange Invest
ICE gains CCP mandate from LBMA and launches a US future loco London. Hound of Hounslow to be extradited to US, Sensex celebrates 30th birthday (and it’s still not married yet – Indian mothers everywhere will be fretting). …And there’s more, a marathon helping of more today…
(In other news, Naspers sold Allegro, Poland’s answer to eBay for $3.25 billion to private equity Friday…).
Events
Claim your discount code now via Exchange Invest: Burgenstock is coming soon (see banner on left- and use this discount code “YOUNG15” to get 15% off the delegate fee).
The Stuttgart SE 10th Anniversary MIFID Conference also advertised to your left looks most interesting and I am delighted to be chairing a session there November 17th.
In BigWorld
The USA has a welcome boon to its civilisation just when its reputation is flagging as the battle of blond blitherers remains broadly on a plateau of “please let it be over soon.” Anyway, the good news is that Cuban cigars are now permissible in the US once again (not that it ever stopped some from the parish enjoying them back in the day when you could still have a good smoke in a New York restaurant).
The worrying part for cigar lovers is we could soon have a first man in the White House whose previous, er, indiscretions, with product from the Dominican Republic could reasonably be deemed sacrilege with a top quality Cuban. (Oh if only that were the sole challenge facing the USA you may reasonably assert!).
Anyway, let us not dwell on the descent into one of Dante’s circles the US will soon bring upon itself, onward and upward to the parish news!
Public Markets
ICE Will Start Gold Futures, Clearing London’s Daily Auction
Bloomberg
PLY: ICE leverages position as the administrator of the London gold auction by agreeing to CCP LBMA fixing and launching a US futures contract loco London… Good deal hot on the heels of Cinnober and Autilla winning the LBMA contract for trade reporting last week, as discussed here:
Tiny Startups Revamp Gold Market After Besting Big Exchanges
Bloomberg
… a pair of little-known startups chosen over industry titans including CME, LME and ICE.
PLY: Clearly LME weren’t going to get anything after partnering with World Gold Council. ICE has the advantage of the benchmarking biz plus now futures and CCP – I can imagine they will live with ceding TR to the worthy winners of Autilla and Cinnober. The loser in all of this is clearly CME, albeit they have a franchise to fall back on…
Exchanges As National Treasures – Unresolved Questions from ‘Pre-History’
Tom Krantz, Tabb Forum
PLY: Tom Krantz maintains a resolve to think on behalf of the exchange parish which demonstrates the extent of insight derived from his time as General Secretary of WFE. Both his recent missives, (the other on DB1-LSE) deserve a read.
Flash Crash Trader Headed to U.S. After Losing Final Appeal
Bloomberg
PLY: The dunderheaded amateurism of the Blair government in negotiating one-sided extradition treaties is writ large in the fate of the Hound of Hounslow, whose role as a master villain worthy of Marvel comics, has been hysterically overstressed by US prosecutors.
Review Of SGX’s Bond Framework Needed
The Straits Times
Interview: Nasdaq Eyes Asia For Expanding Freight, Energy Business
bunkerworld (subscription)
NASDAQ Private Market & Scenic Advisement in Partnership
EconoTimes
Scenic Advisement is the first purpose-built investment bank dedicated to handling secondary stock transactions for employees, company founders and investors.
PLY: Interesting initiative. The private shares market was so exciting (at least for those writing press releases) once but seems to have gone cold for the likes of Liquidnet and others since, with really only NASDAQ still actively ploughing on, it seems.
|
|
|
|
|
|
|