Frantic day – machine learning workshop at the Warsaw SE this afternoon in association with the Polish Academy of Science as we lead into tomorrow’s big data future of finance symposium: Young Markets!
Interesting day, happy scrolling:
NZX H1 2015 Results
vs H1 2014: revenues $34.4 mln (USD 21.9 mln), up 10.4%, EBITDAF $11.7 mln (USD 7.4 mln), down 3.6%, net profit after tax $18 mln (USD 11.46 mln), up 157.9%
…initially on its new aluminium premium contract.
PLY: To officially appoint new CEO Stéphane Boujnah.
The committees, comprising senior bankers, lawyers & corporate CEOs, is the most significant strategic announcement made by SGX since Loh Boon Chye became CEO in July.
Insiders Beat Market Before Event Disclosure: Study (subscription)
Liz Hoffman – Wall Street Journal
Corporate executives and board members regularly make market-beating returns from buying and selling their companies’ stock in the days before disclosing a significant event, according to a study that says it has found a link between insider knowledge and investment profits.
Buyside Body Wants Year’s Delay For Mifid II (subscription)
Tim Cave – Financial News
UK asset manager body has called for changes to the EU’s trading rulebook to be pushed back by a year – one of the strongest indications yet that the industry thinks Mifid II will not be fit for purpose at its January 2017 start date.
PLY: Correct analysis, unsurprising too.
EquiLend & Eurex Clearing To Cooperate In Securities Lending
EEX Opens New Office In Oslo
The Unraveling of Tom Hayes – Part Three – THE U-TURN (subscription)
David Enrich – Wall Street Journal
Rules For ‘Dark Pool’ Trading Need Strengthening
Sarah N. Lynch – Reuters
Asset Managers Team Up to Develop Standards for Dark Pools
Yuka Hayashi – Wall Street Journal
FAO: Yesterday Credit Suisse said it will pay more than $80 million to settle allegations that it didn’t fully disclose to its clients how it operated its dark pool, while last month ITG paid $20 mln to settle “secret trading desk” claims with SEC.
PLY: Well done GMEX and a warm welcome to the Tajik bourse!
At NSE, It’s All About Speed & Tech Now
Anto T Joseph – dna India
National SE, which ushered in an equity revolution in the country, is at a crossroads as it faces renewed competition from BSE and challenge to channelise savings into equity markets.
Bombay SE (BSE) will now conduct self-trade prevention checks based on permanent account numbers (PANs) of investors trading on its equity derivative platform.
Arab IPO Summit: QSE Boss Voices Kuwait Delisting Concerns
Rahul Odedra – Businessweek
Qatar SE (QSE) CEO Rashed Al Mansouri said delistings from Kuwait SE could put other companies off going public.
Special Section: FTI, NSEL, India at the Crossroads
PLY: MCX and 63 Moons (FTIL) flat – no news.
Symphony Launches Wall Street Network (subscription)
Ben McLannahan – Financial Times
Symphony’s Disruptive Message For Traders (subscription)
Matthew Garrahan, Ben McLannahan & Philip Stafford – Financial Times
Symphony announced tie-ups with McGraw Hill Financial & Dow Jones, and Selerity, which focuses on mining market-moving information from social media. Yesterday the group reached a data deal with NY State Dep. of Financial Services.
Banks Back Blockchain Project To Test Overhauling Finance
Matthew Leising – Bloomberg
Some of the world’s biggest banks, including JPMorgan and Barclays, are exploring the use of bitcoin’s underlying technology to overhaul financial markets, joining forces with R3, a startup run by Dave Rutter, former CEO of ICAP’s electronic-broking unit, to develop standards and protocols for deploying blockchain to speed up the execution and settlement of trades in markets such as syndicated loans and repurchase agreements. (statement here).
Gov’t Funded Blockchain Lab To Open In The UK
Erin Lace – Cointelegraph
A Blockchain lab is scheduled to launch in the UK next month as a result of Innovate Finance teaming up with Hartree Centre to explore the opportunities offered by blockchain technology.
PLY: Quite why free enterprise needs a government lab escapes me…
China Takes Aim At Automated Trading In Commodities Futures
Ruby Lian & Polly Yam – Reuters
China’s top commodities exchanges – Dalian Commodity Exchange (DCE), Shanghai Futures Exchange (SHFE) and Zhengzhou Commodity Exchange (ZCE) – were asked recently by China’s exchange regulator to draft rules designed to “regulate the behaviour of program trading” in futures markets, according to people familiar with the matter.
DGCX In Talks With Producers To Launch Tea Futures
The Economic Times
DGCX is in talks with Indian tea producers as well as those in countries like Kenya and Sri Lanka to work out the modalities of tea futures.
SIX Swiss Exchange ETFs: 15 Years Of Growth
Frankfurt Launch Of CSI 300 Index Futures Suspended (subscription)
Xiao Wang – Risk
The introduction of CNH-denominated equity derivatives on the co-established platform by Shanghai SE (SSE), China Financial Futures Exchange (CFFEX) and DB1 will be suspended due to the recent Chinese stock market volatility.
PLY: Also unsurprising given China’s recent control issues.
Islamic Index Launches On BHB
SGX has set up 3independent Listings Committees to strengthen the listing policy-making and review process.
Gautam Banerjee will chair the Listings Advisory Committee (LAC) (15 members) while Eric Ang and Francis Xavier, Senior Counsel (SC) will chair the Listings Disciplinary Committee (LDC) and the Listings Appeals Committee (LApC) respectively. Their appointments were made in consultation with the Monetary Authority of Singapore (MAS).
Full list of members of the LAC, SGX Disciplinary Committee & Appeals Committee – HERE.
Nairobi Securities Exchange appointed six new members to its senior management team in line with its 2014 – 2019 strategic plan and new organization structure.
The newly appointed team includes:
Mr. Andrew Wachira; Business Development & Commercial Director
Mr. Caleb Musau; Operations & Technology Director
Mr. Tom Kimaru; Regulatory Affairs Director
Ms. Jane Kiarie; Finance and Administration Director
Mr. Terrence Adembesa; Derivatives Market Director
Mrs. Lucy Kamar; Head of Human Capital.
16.09 – Record date ICE $0.75 Q3 2015 dividend
16.09 – NZX 3.0 cents interim dividend payment
18.09 – CBOE $0.23 quarterly cash dividend payment
CFTC Agricultural Advisory Committee to Meet on September 22, 2015 – press release here.
BVB EGM – 28/29.10.2015
Euronext EGM – Tuesday 27 October 2015 – announcement here.
All forthcoming exchange / investment related events are now listed in our Events page.
Interactive Brokers President Milan Galik sold 12,808 shares Friday, September 11th at $38.12 (bargain $488,240.96).
RBC Capital Markets Reiterates “Outperform” Rating on LSE – GBX 2900 Target Price
A full table of current analysis can be found on our Analyst Ratings page which is updated daily.
Crosslend Launches New P2P Lending Marketplace
Unsecured loans to consumers for borrowers and investors in Germany and Spain as well as investors in the UK, Crosslend aims for further European expansion and creating a unified European marketplace.
China Faces Parlous Path Toward Yuan & Capital Liberalization
Eduard Gismatullin – Bloomberg
China’s Problem Isn’t Its Markets (subscription)
Andrew Browne – Wall Street Journal
Chief Of Biggest Chinese Broker Swept Up In Stock-Rout Probe
Kyoungwha Kim & Alfred Liu – Bloomberg
Read our Premium China Liberalises and China Capital Markets Transformation Brief – Main File.