October 28 2016

elb2
Results aplenty…

Yesterday I had the pleasure of attending the launch of the Malta SE inspired National Capital Markets Action Plan – 30 years to the day since London’s Big Bang it could be a plan of similar proportionate to the Mediterranean islands was launched – the Valletta Big Bang as it were. Plaudits to Chairman Joe Portelli for creating the masterplan with his team which was launched by the Prime Minister Dr Joseph Muscat (in photo below) and his Finance Minister Professor Edward Scicluna in the fabulous stock exchange building which also hosted a FESE soiree amongst other events this year.

 

 

Events

It’s time to book that trip to Burgenstock if you haven’t already. You can still Claim your discount code via Exchange Invest: (see banner on left- and use this discount code “YOUNG15” to get 15% off the delegate fee). Crossfire kicks things into gear on the AM of 15th with cocktails the evening before.

Then I am off to Stuttgart SE to chair a session at their 10th Anniversary MIFID Conference which has a sell-out audience of 300+ from around Germany and further afield.

In BigWorld

Cubans are launching their first ever Indie game crowdfunding on Indiegogo – further proof that free markets always win.

Public Markets

CME Group’s Profit Jumps 31.4%

Reuters

DB1 Q3 Operating Profit Rises, Sells BATS Shares

Reuters UK

PLY: DB1 grows revenue, just, and has sold around a third of the BATS stake which it retained when selling ISE – at least that helps make the overall headline loss on ISE looks a bit better. Clearstream appears to be doing well which remains an area of great potential.

Japan Exchange Group: Consolidated Financial Results For The Six Months Ended September 30, 2016

MondoVisione

PLY: Once again from this crop of results, slippage: nearly into double digits.

BME Q3 Results

BME

PLY : Revenue down 10, EPS minus 14% Y/Y or 12% and 19% Q/Q as Peter Lenardos at RBC notes this morning. Spain continues to biodegrade it seems.

BGC Partners Q3 2016 Financial Results

Reuters

PLY: Revenue slips seems to be the theme of the day with CME in particular a strong exception and DB1 squeaking in to the upside – but hey it’s still better than decline.

Selected Consolidated Financial Data Of GPW Group

GPW Group Report for Q3 2016

GPW

PLY: I think the results are embedded in here but in a busy world, I have given up trying to break out just how bad things are for the broadly rudderless GPW.

Fidessa Sees 2016 Constant Currency Growth Around Levels Seen In H1

Reuters

GPW Reduces Transaction Fees And Information Service Fees For Exchange Members

MondoVisione

PLY: At least GPW is trying to counter what have been traditionally high fees.

Goodbye Shanghai, Hello Qianhai: HKEx’s Quest For A Metals Connector

Reuters

Private Markets

Oslo Børs VPS Holding ASA – Q3 2016

Oslo Børs VPS

Oslo Børs VPS Holding reports a profit of NOK 66 million for the third quarter of 2016 (NOK 73 million).

PLY: No guesses, a revenue decline in keeping with the majority order of the day.

GLX Innovation to Modernise LNG Trading

Business Wire (press release)

PLY: Interesting new Perth based auction platform.

CMA May Form Team To Save Listed Firms From Being Delisted

The Star, Kenya

BSX CEO Comments On The Collaboration And Growth Of The Global ILS Industry

MondoVisione

PLY: Always good to hear from Greg Wojciechowski.

Revive Abuja Commodities Exchange To Boost Agriculture

Vanguard

If agriculture is enhanced, companies that rely on them for raw materials will grow and be attracted to list their shares on the Nigerian Stock Exchange

Scotland to Start Own Stock Exchange Using Blockchain Technology

Bloomberg

PLY: Gosh, the anonymous collective “Scotex” have a web site and a press release that has been leapt upon by media yet the founders of the project remain anonymous and I cannot help but have a bad feeling about the whole scheme to raise 15 Million Pounds (18 million USD, maybe less by the time you read this) for a Scottish stock exchange. Not that I am against either regional exchanges or DL technology but the sheer anonymity is, frankly, curious. QV with the much more credible  GLX offering in Perth, WA above.

Special Section: FTI, NSEL, India at the Crossroads

India: Government Makes Fresh Push For NSEL’s Merger With FTIL

DealStreetAsia

PLY: Still the wrong move to resolve a single crisis with a wholesale defenestration of the corporate code.

SC Dismisses NSEL Appeal As ‘totally frivolous’

Business Standard

PLY: More on the MPID story from yesterday but the “totally frviolous” epithet was worth mentioning, as clearly judges are becoming frustrated by seemingly endless ramifications in this area.

Technology

Misys Pulls Listing Plans

City AM

PLY: The usual Brexit blither is scapegoated. In truth, Misys is a legacy software business that can produce a lot of PE cashflow but looks like the ugly step sister to the futures espoused by the lithe, progressive, innovative Cinderella fintech inc. When they reduced the float by a billion it was clear the sell was a tough one. The world has moved on since Misys was last public, it isn’t clear Misys has adjusted as noted a week ago.

Products

Addiction to Pork Has China Searching to Hedge Prices

Bloomberg

Indexes

Derivatives Giant CME Sets Launch Date For Bitcoin Indexes

CoinDesk

Derivatives Giant CME Sets Launch Date for Bitcoin Indexes … Disclosure: CME Group is an investor in Digital Currency Group, of which CoinDesk i

Changes Of The Ground Rules Of FTSE/ATHEX Index Series

MondoVisione

Career Paths

#SRSLY nobody moved at all? Probably too busy waiting for the results season to be be over…

Crowdfunding

Fintech startup, Initiative Ireland P2P Platform, led by Padraig Rushe jr.

Finance Jobs

PLY: Interesting initiative from Padraig Rushe pere et fils.

Crowd-Funding Finds Fanbase In Germany Property Market

Daily Mail

German crowd-funding proptechs (property technology firms) raised around 49 million euros in the first nine months of this year.

The Big Bang Theory & Crowd-Funding

Forbes

Other Stories

RW Makes Last-Ditch Attempt To Avoid Market Manipulation Trial

Financial Times

PLY: FT profiles the travails of Chicago-based prop firm DRW, and its boss Don Wilson.

 

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