September 16 2016

elb2In Today’s Exchange Invest
The noose is seriously tightening around FTIL in the long running NSEL case as anti money laundering attachment is undertaken by the Enforcement Directorate. Kynetix does an interesting deal with the Singapore Diamond Exchange while CME announces precious metals spread and ratio contracts…and there’s more:




Plaudits to Thom Barnhardt and his team for a great 2nd Annual CEE Awards Gala last night – great to see nominees and winners from across the region.


Earlier in the day we had the first CEE CMU summit which was a fabulous, content rich discussion from start to finish. My thanks to a brilliant lineup of speakers including Jacek Kubas of EBRD, Florence Bindelle and Aleksandra Palinska from European Issuers, Polish brokerage houses chief, Waldemar Markiewicz and Jaroslaw Derylo of Wood & Co. From the exchange parish we had a marvellous line up including Ivana Gazic of Zagreb, Petr Koblic of Prague & CEESEG, Daniel Kormoczi of Budapest, Erja Retzen of NASDAQ and Ivan Takev of Sofia SE.


There were also many lively interventions from the floor, led by one of the region’s elder statesmen in the parish, the great Wieslaw Rozlucki.


My thanks to Piotr Borowski for all his help with the summit and awards organisation.


I’ll be back for CMU summit 2 and the 3rd annual CEE Capital Markets Awards, September 14th, 2017…

Public Markets

Citadel, Other Trading Firms Sue Options Exchanges, Again
Crain’s Chicago Business


Citadel Securities, Ronin Capital and Susquehanna Securities have filed another lawsuit in a multiyear campaign to force the Chicago Board Options


PLY: A dispute over jurisdiction in a dispute over origins of trades continues with another lawsuit…


EU Court Confirms Thomson Reuters Code Settlement


PLY: RICS rights resolved?


NYSE Announces Further Enhancements to Exclusive IR Market Data Platform, NYSE Connect
Business Wire (press release)


BGC Partners Announces Launch Of Exchange Offer For Its 5.125% Senior Notes Due 2021


Private Markets

KCG Completes Acquisition Of Neonet


Ripple Raises $55 Million, Adds Seven More Banks to Its Network


Standard Chartered has joined a group investing $55m in Ripple, including the VC arms of CME Group and Seagate Technology.


Special Section: FTI, NSEL, India at the Crossroads


PLY: FTIL down (only – see below) 1%, MCX up slightly.


ED Lays Claim On Assets Of Financial Tech
Economic Times

PLY Already attached by the Mumbai police, and now the ED has finalised and shortlisted assets to meet the liabilities of NSEL to a total of  the 1253 cr liability not a blanket directive as per the Mumbai police (about $200 million). This very stringent attachment under Prevention of Money Laundering Act (which supersedes the Mumbai police) applies to the whole company and not just Jignesh Shah…




Kynetix Does Diamond Deal in Singapore 
Kynetix Blog

PLY: Good deal for both the UK based Kynetix, expanding their depositary related offering to the fledgling SDiX which reported encouraging volume recently




CME Group Announces Launch Of First-Ever Precious Metals Spread & Ratio Futures Contracts

SGX Mulls Listing Leveraged Notes On Investors’ Demand
The Straits Times

SGX is considering listing structured products called constant leveraged certificates.




CBOE To Launch Options On FTSE Emerging Index
PR Newswire (press release)


Career Paths


Canada-based exchange operator under the TMX Group today appointed John Willock as Director of TMX Datalinx at TMX Insights.


US Treasury platform OpenDoor has hired former JPM staffer Michael Paulus as Senior Managing Director.


Jennifer Marietta-Westberg, Deputy Director & Deputy Chief Economist Of The Division Of Economic & Risk Analysis, is to Leave SEC After 10 years on the staff.


Jonas Torquist has been appointed COO of EPEX SPOT effective October 18, replacing Thierry Morello after a 15 year stint with the business.


Other Stories

Keynote Remarks Of CFTC’s Chairman Timothy Massad 4th Annual OTC Derivatives Summit North America


New ISDA Whitepaper Urges Greater Standardization & Efficiency In Derivatives Market Infrastructures


FIA Announces Eighteen Companies Selected For Innovators Pavilion


Statement Regarding Publication Of List Of Rules To Be Reviewed Pursuant To The Regulatory Flexibility Act, SEC Commissioner Michael S. Piwowar, Sept. 15, 2016

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