October 7 2016


I am at the EY Malta National Attractiveness Day Conference – 500+ people packing the ballroom to hear an amazing line up of speakers. There was a great cocktail last evening where it was a delight to meet, amongst others, Jan Krzysztof Bielecki who, as Prime Minister of Poland did so much to steer the country on the right path to freedom after the tyranny of the Communists. I speak on fintech later this morning…but first your daily dose of pith, rounding out another interesting week for the parish…


Happy Thanksgiving Day to Canada for Monday, glad you had a nice visit from the Carrickfergus family the other week…

In Malta as I said, to discuss fintech et al on a panel at the EY Annual Attractiveness Conference on FDI alongside amongst others Malta SE Chairman Joe Portelli. Brilliant job by Ron Attard and the EY Malta team – Elsewhere don’t forget about Burgenstock (see banner on left) and likewise the Stuttgart SE 10th Anniversary MIFID Conference…
In BigWorld
News that Blackberry are to cease producing their mobile hardware has come as a profound shock to many in the parish – if anybody is interested, I am thinking of organising post Crackberry therapy to try to get you over the hump of your keyboard going virtual on Android, or maybe even an iPhone. Having weaned myself off their increasingly erratic kit years ago and gone Samsung, I have never looked back. Well apart from those first few months of screaming agony, cold sweats and sleepless nights, but hey transitions, transitions…



Public Markets

EU’s Vestager Says Brexit ‘Not A Factor’ In DB1-LSE Probe
Expatica Germany

“It would not be serious to take Brexit into account,” Vestager told German financial newspaper Boersen-Zeitung.
“Brexit has not yet happened. We haven’t even begun the negotiations about Britain’s exit from the EU. We can’t draw up scenarios to take into consideration when we’re examining the case. That would just be guesswork.”

PLY: I think the overall behemoth of monopoly powered by a too big to fail clearing operation allied with a data monopoly and all manner of other issues gives the EU antitrust more than enough to occupy themselves for a mere 90 days of bureaucrat working hours.

NYSE Probes Market Maker IMC Financial
Wall Street Journal

CME Clearing Chooses BNP For US custody
GlobalCustodian.com (subscription)

London’s Euro Clearing May Not Be Up for Grabs, Hammond Says

PLY: UK FinMIn asserts UK hegemony against one of the more moronic (in a crowded field) of simply unenforceable EU protectionist power grabs. Elsewhere in UK news, following her first part conference speech as Conservative Party leader, the UK PM alas is an interventionist left of centre economic illiterate rather akin to her predecessor, alas.

Public Markets

NSE Board Agrees To IPO & Clears Bonus Shares
Economic Times

PLY: NSE IPO is go albeit NSE are still hoping to list on their own bourse while Sebi remains profoundly incapable of trusting the market in any form.

SIX Swiss Exchange Launches Trading Simulation Course
Finance Magnates

PLY: Will the Trading Simulation lead to a later “exchange management simulation” where whatever you produce of any consequence, you sell it to DB1 the first time they offer some cash?

ED Likely To File Money Laundering Case In MCX-SX Licence Grant Case
Business Standard

Ethiopia Commodity Exchange To Open Regional Online Centers
Africa Business Communities

PLY: Expanding reach beyond Addis Ababa.

Interest Groups Hinder Listing Process Of Privatized Vietnamese SOEs
Tuoitrenews (press release)

Sindh Govt Plans e-Trading Of Agriculture Produce
The News International

LMAX Exchange Announces 2015 growth figures; On Track To Deliver Significant Profitability
LMAX Exchange

PLY: Remarkable and welcome progress from the company spun out of Betfair ignominiously to management in 2012 for 2.4 million GBP ($3 million).

Hit By CBI raids, Sebi Staff Seek Overhaul Of Internal Vigilance Cell


Special Section: FTI, NSEL, India at the Crossroads

ED Removes Provisional Freeze on FTIL’s HDFC Bank Account


BME Launches New On-Line Contract Signing And Notification Acceptance Service – New BME INNOVA Service For Financial And Non-Financial Companies

Wall Street-Bred Tech Startup Symphony Is Here To Stay

Thomson Reuters Innovation Lab Launching In Cape Town
Disrupt Africa



Career Paths


The Board has elected Daniel Schmucki as new CFO at SIX and therefore as member of the Group Executive Board. He will take up his role on 1 April 2017 at the latest.


PLY: Stefan Maeder resigned in June but agreed to stay on for as long as required to employ and onboard his successor.
Tullett Prebon Plays ‘The Apprentice’ For Real

Tullett Probe


How Expertise & Crowdfunding Heft Are Coming Together On Disaster Relief
Inside Philanthropy

Late last month, the Center for Disaster Philanthropy (CDP) announced a new partnership with Crowdrise, a leading platform for crowdsourced charity.

Other Stories
ESMA Consults On MiFID II Guidelines Regarding Trading Halts
ESMA Publishes Updated AIFMD Q&A

Charles Schwab’s Roboadvisor Is Racking Up Assets Fast
Money Magazine

Investments in Charles Schwab Corp’s “robo adviser” service grew to surpass $10 billion in September, more than double the year-ago level.

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