Currently, out of three commodity exchanges, metals and energy bourse MCX has around 85% market share followed by agri exchange NCDEX.
PLY: For those who wonder what, say a Bernie Sanders or a Jeremy Corbyn leadership of the US or UK might look like, then consider the more ridiculous socialist posturings of Sebi as a starting point. Having free markets saddled with such nebulous interventionism is an ongoing point of systemic weakness for India.
Commodities Trading: Stock Exchanges Will Have To Wait For Some More Time
Sebi Considering Entry For Mutual Funds In Commodity Derivatives
ICEX Gets Sebi Nod To Recommence Operations
Earlier this week, Reliance Capital chairman Anil Ambani had announced that the firm will re-launch its commodity exchange with focus on diamonds and crude oil.
PLY: Interesting mix – and a second specific product line in diamonds following the lead of SDiX in Singapore which launched at the start of summer.
Shanghai Stock Exchange Bids For Stake In Pakistan Bourse
Nikkei Asian Review
PLY: Fascinating, the first attempt by a Chinese mainland exchange to buy a stake in an overseas market.
Cyprus To Hire Independent Advisor For Cyprus’ Stock Exchange Privatisation
PLY: My memory might fail me but I do believe that in all Exchange Invest’s near 900 issues, this is the first time the “Famagusta Gazette” has been the source of a story. Fascinating, news on Cyprus, wonder who will be in offering advice – there is a rich opportunity in the Mediterranean but little value in being part of a bigger group currently imho.
Gold Market Rife With Rumours Of Likely LBMA Partner To Increase Transparency
PLY: Good luck to Autilla if they are indeed the chosen party (they were always reported to be bidding with Cinnober) – albeit I am not sure I understand the notion of the LBMA seeking to improve market transparency… I always thought the London gold market wasn’t really overly fussed on such new-fangled democratic leanings. Times they are a-changing obviously.
ETMarkets: What Options Launch Means For Commodity Exchanges
PLY: A whole new realm for options markets – and a vast new educational campaign will be mounted…of course even in the early years of this decade, the likes of MCX and NCDEX were habitually educating the population of Wyoming or Luxembourg annually, so their concept of educational scale can cope with the task.
MGEX Announces Third-Country CCP Recognition
Stockbrokers Want National Assets Sold Through Capital Market
Stockbrokers have said the federal government should sell its assets through the capital so more Nigerians can benefit from the exercise.
PLY: Hear! Hear!
Lungu Master Plan Promises Social, Economic Growth
Zambia Daily Mail
President says State-owned enterprises will also be listed on the Lusaka Stock Exchange to ensure broader citizen economic empowerment.
PLY: The more privatisation the merrier for markets, the economy and citizens. The rich irony is that Africa appears to be gaining in the free market growth oriented zeitgeist just as the west is falling apart in a nebulous obsession with inequality and a futile desire for political control as opposed to deregulating and growing the pie.
The Zimbabwe Stock Exchange Data Is Alive On The Internet. Here’s Where It Is…
About a month ago, we were unhappy that the Zimbabwe Stock Exchange switched off their very useful website.
Special Section: FTI, NSEL, India at the Crossroads
Below The Line
Hindu Business Line
Financial Technologies played its ace in the NSEL-FTIL merger case last week. Appearing on its behalf, the renowned lawyer Harish Salve is said to have requested the Bombay High Court to give him at least three consecutive days to present his arguments. Salve’s presence has legal eagles eagerly awaiting November 24, when the hearing will take place and we can expect some hard hitting against the corporate affairs ministry’s final order.
Will this bring down the curtains on India’s first attempt at forced merger in the private sector space? Only time will tell.
IBM Buys Promontory Financial Group
Privately held Promontory will be added to the Armonk, NY-based company’s artificial intelligence unit Watson to advise clients on financial regulation.
PLY: Interesting acquisition.
Is Red Tape Holding Back The Financial Tech Industry In Canada?
The Bank of Canada is experimenting with “regulatory sandboxes.”
Seed CX Sets Stage for Hemp Commodity Exchange
PLY: For a product supposedly reputed to make you laid back, many folks are weaving themselves into a lather about Hemp futures on the GMEX powered CX.
RBI Allows Foreign Investors To Raise Stake In MCX
PLY: Total foreign holding is now set at 34% for FIIS and RFPIs but there is still a 15% limit per individual holder. Progress from the Central Bank where the regulator seems to be having a little regessive spell.
Commodity Options To Start With Agri, Non-Agri
Times of India
PLY: Nevertheless this was vast progress and long may it continue that at least some part of Sebi sees the light of free markets.
Cattle Market Beefs Up Trading With Online Deals From Auction
PLY: More on a topic often mentioned of late (e.g. here). It’s a tricky conundrum to resolve.
Vietnam Stock Market Introduces Common Index
Tuoitrenews (press release)
ViableMkts Fintech Strategic Advisory Business Adds Three New Principals
Business Wire (press release)
PLY: Consultancy adds heft.
First Reg A Issuer Has Gotten Hit By The SEC
Funding Circle CEO: It’s A ‘Golden Age’ For Marketplace Lending As Revenue Jumps 144%
Giving Small Businesses The Best Possible Chance Of Succeeding When Crowdfunding
ESMA Consults On Future Reporting Rules For Securities Financing Transactions
ESMA Issues Final Guidelines On Inside Information And Commodity Derivatives
IMF Launches New SDR Basket Including Chinese Renminbi, Determines New Currency Amounts
PLY Somewhat completes one key strand of the Chinese Capital Markets Transformation story we were leading on in Premium from a while back. I discussed this with Sputnik radio yesterday too, will post the file as soon as I have it (hopefully tomorrow).
Cambridge Centre for Alternative Finance Holds Standout Inaugural Conference
PLY: I was alas unable to attend this but did appreciate the invitation…however I was already gainfully occupied in Brazil for the World Coops event last week.
German Stock Market Chief Warns Over Plunging Deutsche Bank Shares
NW Evening Mail
PLY: Comment from the excellent mind of Berlin Boerse bodd Artur Fischer who is a regular pundit with the BBC amongst other channels and always worth listening to.
A Behind-The-Scenes Look At What Actually Goes On During an NYSE IPO
Wall Street Guru’s Spiritual Guide To Hitting Your Number Faster
Brad Katsuyama, founder of the newest US equities exchange operator IEX Group, urges his employees to read Hy’s website RadReads…
PLY: Modesty forbids any mention of other sites the IEX team may be reading but anyway hope you guys all have a great week.