|Blockchain mania in settlement from Sino-Russo cooperation to forex-SETL, JSE proxies and more, while academia and the ECB heart HFT. London bankers dinner prepares logical deregulatory and cooperative message for the future while FOW informs that Vijay Angelo and James Davies are today announcing the launch of the London Derivatives Exchange (which used to be the GMEX marketplace). And, naturally, there’s more, happy scrolling:
EventsComing Soon: Burgenstock returns, slightly later than usual due to Swift invading Geneva in September. Time to Claim your discount code via Exchange Invest: (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.
The Roman Catholic church has banned the scattering of ashes as it apparently promotes pantheism. Well timed, as it will also hopefully discourage fanatical Manchester United supporters from using this course of action on manager Jose Mourinho.
MCX To Appoint New Chairman; Q2 Net Up 23%
PLY: Very encouraging numbers as MCX continues to bounce back as the NSEL impact declines on the business now it has clearly made the break with FTIL.
Plus500 Slips Despite Brexit Boost To Customers
Revenues at spread-better Plus500 slipped in the third quarter as nervous new punters wagered less cash.
Shares In Plus500 Are Crashing
“It’s likely, although Plus500 doesn’t say, that customers don’t show significant revenue in the quarter they sign up because the platform brings them in with loss-leading offers. Trouble is this means you can’t tell if they’re high-value or not — just have to take Plus500’s word for it.”
PLY: A month ago various Plus 500 founders sold stock somewhat aggressively while Odey used to still like it but it was somewhat controversial last year with Jacob Ma-Weaver of Cable Car Capital and others.
Nasdaq’s Jochumsen To Move To Vice Chairman Role In Europe
PLY: Reuters reports what I highlighted yesterday. Lest, you missed it: Hans-Ole is returning to Europe as Supreme Commander of Allied Forces Europe. Or, in NASDAQ terms, Hans-Ole is Eisenhower to Bob Greifeld’s FDR. After a day’s cogitation on the topic, the only downside I can see is that NASDAQ HQ will miss only seeing Hans-Ole about a week per month. Everybody else gains.
ECB Calls For Light Touch On HFT
Unity In Strength: Tullett & ICAP Join Forces To Raise The Bar In OTC Markets
South China Morning Post
PLY: Somewhat kissy kissy sponsored editorial but if you are not following IDBs, it’s a useful refresher.
City of London Calls For Post-Brexit Banking Rules That Aid Competitiveness
PLY: The upcoming dinner may be banker-centric but the regulatory emphasis must clearly be on markets – there is a significant difference, akin to the chalk/cheese index. Mature input on freedom and delivering economic growth from the City in the 30th anniversary week of that inspired Thatcherite revolution “the Big Bang” is welcome, particularly at a point where the EU has embarked on a course closer to Mutually Assured Destruction both with free trade itself, let alone the maniacal ravings of its apparatchiks who all sound about as credible as spurned telenovela characters when faced with Brexit realpolitik.
Wall Street’s Speed Demons Are Heroes
PLY: Academia may not have had a low latency response. However, after due consideration, greed may not be the flavour of the month but to paraphrase Gordon Gekko “Speed, is good.”