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  • Steve Grob At Fidessa Criticises "Asinine" Letter From Marcus Ferber To ESMA On Periodic Auctions - The Periodic Table

    Date 12/04/2018

    Posted by Steve Grob on Thursday, April 12, 2018 · Leave a Comment 

    I read with interest, and some dismay, Sam Agini’s great piece in Financial News yesterday about Marcus Ferber writing to ESMA be-moaning periodic auctions. Perhaps the most asinine comment attributed to Mr Ferber is that some such mechanisms are a “blatant attempt to undermine the Mifid II provisions aiming at having a larger share of trading in the light”. It is hard to know where to start in deconstructing this statement, but let me have a go anyway. The last part really sums up everything that is wrong with the MiFID regulations. When will regulators and their political masters understand that the idea that “lit is good and dark is bad” is (a) wrong and (b) a gross oversimplification? So much so that it reminds me of Orwell’s sheep in Animal Farm bleating out “4 legs good two legs bad” as they seek to wrest control from their human masters. It’s not as if periodic auctions are anything new either as the concept of auctions has existed pretty much as long as trading has. And, just like the periodic table of elements, the idea covers a huge array of different entities each with their own specific properties and configurations. But, yet again, I fear that in “coming up with strategies”, as Mr Ferber asks, ESMA will ignore this and seek some sort of cap or other blunt instrument that does more harm than good.

  • Pirum Adds 3 Staff To US Operation

    Date 12/04/2018

    Securities Finance Fin Tech provider Pirum Systems, is delighted to announce the expansion of their US operation with the addition of Kristen Dove and Dominique Rose joining the New York team.  In addition Edward Sharpe will be transferring to New York.

  • Jordan Hiscott, Chief Trader At Ayondo Markets - “Bitcoin Has An Identity Crisis And Needs To Decide What Its Key Aspect Is For It To Be Truly Successful”

    Date 12/04/2018

    “Bitcoin is the largest and most well-known digital form of money, and the ideals of cryptography secured paperless transactions will be the future of monetary payments as we know it. The virtues of Bitcoin are clear, involving Blockchain, a publicly recordable technology, and insanely difficult and laborious mining aspects. However, I feel at present that Bitcoin in itself has an identity crisis. Is it these virtues or is it a hyper-turbocharged speculation tool, used by an ever-expanding trading community that has little use or care for Bitcoin as a monetary transaction, and instead is just chasing large exponential performance gains?"

  • FTSE Russell Acquires Minority Interests To Assume 100% Ownership Of FTSE TMX Global Debt Capital Markets Limited

    Date 12/04/2018

    • FTSE Russell has acquired a combined c. 27% in minority shareholdings from TMX Group Limited and MTS S.p.A
    • Acquisition will further strengthen FTSE Russell’s global fixed income capabilities, complementing recent acquisition of The Yield Book
    • Demonstrates FTSE Russell’s commitment to local Canadian market
    • Allows FTSE Russell to benefit from key industry trends, including strong growth in multi-asset solutions and passive investment strategies
    • FTSE Russell is a leading index provider globally with c.$15 trillion of assets benchmarked to its indexes

  • The World Federation Of Exchanges & Oliver Wyman Joint Report Examines The Pivotal Role Of Market Infrastructures In Ensuring Market Integrity

    Date 12/04/2018

    The World Federation of Exchanges ("The WFE"), the global industry group for exchanges and central counterparties (CCPs), today published a joint report with global management consultancy Oliver Wyman on the pivotal role of exchanges and CCPs in supporting market integrity.

  • Nasdaq Stockholm Orders Clavister To Pay A Fine Corresponding To Six Annual Fees

    Date 12/04/2018

    The Disciplinary Committee of Nasdaq Stockholm has found that Clavister Holding AB (“Clavister” or “the Company”) has breached the Nasdaq First North Nordic Rulebook, as applicable from time to time, (“the Rule Book”) and thereby ordered Clavister to pay a fine of six annual fees, corresponding to an amount of SEK 1,511,824.

  • TMX Group Sells Its 24.2% Stake In Fixed Income Index Business

    Date 12/04/2018

    TMX Group today announced it has completed the sale of its entire 24.2% shareholding in FTSE TMX Global Debt Capital Markets Limited to FTSE International Limi

  • FIA: March 2018 SEF Tracker

    Date 12/04/2018

    Total trading volume on SEFs averaged $828.7 billion in notional value per day during March 2018, which was up 10.2% from March 2017 and surpassed the previous record amount of trading set in the first month of the year. March continued a trend of record-breaking trading volume displayed so far this year; the notional value per day recorded in each of the first three months of 2018 was higher than any other months since FIA began reporting SEF volume in 2014. Trading of FX products reached a new record of $61.3 billion per day in March, the third month in a row that this category set a record. In the credit sector, trading activity rose to $61.9 billion in average daily notional value, its highest level since October 2014. Interest rate trading reached $705.4 billion per day in March, its highest level since the first month of the year.

  • Bank Of England: Minutes Of The Money Markets Committee Meeting - March 2018

    Date 12/04/2018

    The Money Markets Committee is a forum for market participants and authorities to discuss the UK unsecured deposits and funding market and securities lending and repo markets.

  • Pool The Strength Of Members To Win The Tough Battle In Preventing And Addressing Risks - Shenzhen Stock Exchange 4th Council Convenes The 4th Meeting

    Date 12/04/2018

    The 4th Meeting of the SZSE 4th Council was convened on the morning of April 11, 2018, which studied and deliberated the Report on the Preparation of the 2018 SZSE General Meeting of Members and gave instructions to relevant work. It was decided at the meeting that the 2018 General Meeting of Members would be held offsite from April 16 to April 20. The Council Work Report, the General Manager Work Report the Financial Budget Report and the Shenzhen Stock Exchange Constitution (Revised Draft) were deliberated and approved at the meeting and will be submitted to the General Meeting of Members for deliberation. Other matters were also studied at the meeting.