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Jul
08

EUREX Clearing Paper Released

That mantra which we have recited for years is a great deal more important than ever before as the EUREX paper notes.
1 min read
Jun
23

NLX: Missed Opportunity

NLX still couldn’t score.
4 min read
Jun
10

NLX: Big Data: Easy to Find?

Given that NLX has SMARTS installed, how could they either miss any evidence of trading activity as per what I have discerned through rather more long-form methods?
1 min read
Jun
09

HFT2: 1972 A Historical Perspective

I paused in my discussion of HFT for some days as the situation had become simply too hot.
2 min read
Jun
02

NLX: The Butterfly (In)effect

NLX would rise to the top of the Cappuccino forth of exchange competition and vanquish all comers…
15 min read
May
21

Creating A Chain of Value

“The Innovators Dilemma,” apart from being an interesting tome by Clayton Christensen, remains an ongoing problem for many businesses.
2 min read
May
19

India: What Will Modi Do?

Hopes are that the old maxim of a “Hindu rate of growth’ may yet be entirely expunged from the Indian lexicon by the leader of the Hindu Nationalist party itself.
1 min read
Apr
24

The ZA Pivot

The opportunities for JSE are enormous, despite being hamstrung by a domestic economy and government which leave a lot to be desired, even by African standards.
2 min read
Apr
24

ICAP Explores A New Galaxy

The traditional ICAP universe is dead - now IDBs and SEFs are heading into a whole new galaxy of opportunity...
2 min read
Apr
15

HFT: The Early Years

HFT is nothing new. In fact the time advantage of millisecond or microseconds is highly modest compared to the seconds, minutes, hours, perhaps days of previous iterations of ultra low latency...
3 min read
Apr
07

The Dark Pool Kiss of Death

So the “dark pool” terminology is redundant in terms of failing to describe any particular segment. It is also increasingly toxic for the simple expedient that it sounds “bad.”
2 min read
Apr
02

Homer Simpson & The Supermodel Buffet - aka a Guide to Clearing in the New Era

...Instead of the catwalk divas, in wanders Homer Simpson, Barney Gumble and all the regulars of Moe’s Tavern from the Simpson’s tv show. Eager to clean your buffet many times over, probably consuming full plates of tofu with a single gulp.
3 min read
Mar
29

Buying A Stake in MCX - A Guide For The Perplexed

This is by no means an exhaustive list and if you would like more input we suggest you contact the offices of DV Advisors, who will dispense bespoke insights and wisdom to ensure an even higher level of elucidation...
8 min read
Mar
29

Indian Commodity Exchanges - Background

A very brief guide to accompany other special investment coverages while the MCX stake of FTIL is up for sale
2 min read
Mar
29

Updated 27/3/2014: Neither Fit Nor Proper: The FTIL Fire Sale

FTIL holds 26% of the publicly traded commodity bourse which closed at around 505 INR on March 20th (it bottomed out at 238.50 last August at the nadir of the NSEL crisis) and has a market capitalisation of 2576.15 crore giving a P/e of 13.87 and a book value of 226.82 Rps per share.
8 min read