October 19 2016


In Today’s Exchange Invest

The highlight of today’s news is the Australian Prime Minister this evening in Canberra, bestowing a 250,000 AUD award on Professor Michael Aitken of this parish, as one of the Prime Minister’s 2016 Prizes for Innovation.

I will readily admit an absolute personal delight that Mike, having been so assiduous in making markets better for years is being acknowledged in such a high profile way for his work by Australian PM Malcolm Turnbull.

Moreover, that the Australian government is noting the impact of the genuinely innovative and entrepreneurial activities of Prof Aitken over the years is a very encouraging sign indeed for the parish: PM Turnbull Australia must be proud of its markets and that means listening to Prof Aitken and the competitors to the creaking incumbent monopoly stifling Australia’s capital markets potential!

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
A UK bookmaker is paying out on Hillary as the next President of the USA…



Public Markets


Professor Michael Aitken Wins Prime Minister’s Prize For Innovation
Science In Public

Professor Michael Aitken, founder of CMCRC, creator of SMARTS, will receive this year’s $250,000 Prime Minister’s Prize for Innovation.

PLY: The awards are ongoing as I propel Exchange Invest to pixel, at a dinner in the Great Hall at Parliament House, Canberra. Michael is one of seven prize winners for 2016.

Michael: I am truly delighted for you AND for the parish gaining such prestigious recognition – I owe you a drink to toast your success and that of CMCRC.

Now, for those in the rest of the world, who might be foolishly tempted to say “well what has Mike Aitken ever done for us?” Here’s proof:

Shanghai Futures Exchange Installing NASDAQ SMARTS
South China Morning Post

Shanghai Futures Exchange is deploying NASDAQ SMARTS (PLY: As developed by the excellent Professor Michael Aitken just in case you are having a goldfish brain latency moment) to become the first marketplace to roll out the surveillance platform on the Chinese mainland.

SGX Reports 1Q FY2017 Net Profit Of $83 Million
Update On SGX’s Proposed Acquisition Of The Baltic Exchange

PLY: The Baltic deal is progressing fine but SGX needs a comprehensive rethink – the status quo won’t do.


Private Markets
Private Markets

Multi-Bank Blockchain Working Group Completes Test For Equity Swaps
The Trade

Group including Barclays, JP Morgan, Credit Suisse and others complete tests for post-trade processing of equity swaps using blockchain technology.


Invitation To Tender: Valuation of Botswana SE

PLY: Opportunity for a valuation expert in Botswana – that ought to get the various lurking consultants on the readership moving (remember where you heard it first folks – hopefully one of our Premium subscribing consultant cadre will scoop the biz).

CBL Markets & MGEX See First Trade For California Spot Market 

PLY: Very interesting coming hot on the heels of the CBL board reshuffle the other day.

Two Bulgarian Commodity Exchanges Plan To Merge

The Sofia Commodity Exchange(SCE) plans to merge with the Bulgarian Commodity Exchange at th

Deloitte To Audit NSE’s Algo Trading System

Brexit Prompts London Trading Venue LMAX To Threaten Move To Ireland

PLY: It is feasible that some smaller venues may seek what they perceive as competitive advantage in other climes – the tricky part is that larger numbers imply cannot move given the state of infrastructure, office properties etc. (In the bigger picture this debate is broadly a hysteria being brought on by a blatantly biased remoaner media and various anti-democratic factions who misunderstand Brexit and are seeking to change minds in the worst possible way. It’s a narrow minded argument by the narrow minded who have stolen the name if not the precepts of 19th century liberalism).

INTL FCStone Announces Unique Online Physical Gold Trading Platform

PLY: FC Stone launches PMXecute+ – in a rush of gold platforms and markets, including WGC-LME, LBMA – ICE and ASX launching futures (below)…

Bitcoin Exchange Safello Acquires Futures Trading Platform ICBIT

eClerx And FIA Tech Announce Strategic Partnership for Futures Industry

PLY: Good move by both parties, an electronic give up solution in phase one…

Special Section: FTI, NSEL, India at the Crossroads

Bombay HC Reserves Order On Jignesh Shah Bail Plea
Business Standard

PLY: No news yet as Exchange Invest raced to pixel…



Luxembourg Stock Exchange Introduces Blockchain Into Reporting Service



Thomson Reuters Begins Rollout Of High-Speed Data Feed

The Globe and Mail


Eris Adds Live Points to the Yield Curve
Eris Exchange

PLY: In SEF-world Eris continue to push innovation and garner business too.

ASX Pushes Forward With Gold Contract, Possible Launch H1 ’17
The Bullion Desk


Tokyo Stock Exchange To Begin Calculating Tokyo Stock Exchange REIT Net Total Return US Dollar Hedged Index
Career Paths
The Board of Directors of TASE Has Deprived Chairman of Authority
News Israel today

PLY: This comes via the Hebrew on Calcalist and is really only confirming the board over-ruling of last week which induced the interim CEO to stay. On Calcalist there is also an interview with Yossi Beinart the former CEO who pulls no punches on the Chairman. Combative Chairman Amnon Neubach has not yet been removed from office but it seems now to be only a matter of time…

DTCC Appoints Tim Keady To Lead Firm’s DTCC Solutions Businesses

Mr. Prithvi Haldea as has been nominated by MCX for a 3 year term following the completion of his term by Mr. Anantharaman and that Mr. Arun Bhargava has been nominated as Public Interest Director on the Board of the company for a period of 3 years with effect from 19th November, 2016 for the vacancy that will arise on completion of tenure of Mr. Satyananda Mishra.

Keith Petersen who has previously held strategy roles at CME and IMC has been named head of strategy and business development at Barchart.

PLY: Finally, I note that Lee Olesky, the CEO of Tradeweb has received a well-deserved entrepreneurial award for his excellent trans-Atlantic endeavours from the British American Business Council – congratulations.

How to Fix the Fix Crowdfunding Act
Crowdfund Insider

PLY: An effort to help the groundbreaking work of David Weild et al and push crowdfunding back closer to the model he and other pioneers originally envisaged but the blob has worked to water down.

FTC FinTech Forum Agenda to Spotlight P2P Payments & Crowdfunding
Crowdfund Insider

The Federal Trade Commission announced the agenda for its upcoming FinTech forum examining peer-to-peer payments and crowdfunding.

Other Stories
OCC Comments on Essential Aspects of CCP Resolution Planning

CPMI-IOSCO Consultative Report on Resilience and Recovery of CCPs: Further Guidance On PFMI

FSB Discussion Note On CCP Resolution Planning

UK Watchdog Seeks To Boost Competition In Wholesale Banking

PLY: British banking is broken for retail and wholesale customers. That is a rich irony for the world’s leading cosmopolitan financial centre.

WFE Response To CPMI-IOSCO Consultative Report On CCP Resilience & Recovery

PLY: WFE also responded to the “FSB’s paper on CCP resolution planning” but for some reason we didn’t get that release yesterday.

…Thanks for reading as always, and thanks to the PRs, so far, so fairly well behaved with stuff from Expo… Proper news will always be welcome (e.g. Eric and the FIA’s own).
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