Well, Heron Island was a great swim. Inaugural is the word. Swimming around an Island, you’re always going to be against the current one way or another, but to do it with king tides...there was some hard graft to be done along the front of the Island. Still, high tide means more water over the reef and more space for sharks to disperse. The snap (on the blog) is me with the sharks (thought you might prefer that to the image of an old tyre being washed up onto the shore after an hour at sea). I’ve come to the conclusion that sharks are 10% bigger under the water and 10% bigger again when you’re the only one in the water with them.
A great swim and apart from being whipped by those pesky Olympians, not a bad result.
http://www.oceanswims.com/images/downloads/heronres113.html
My kinda Easter egg:
Search Google for “recursion” and click the “Did you mean?” suggestion. Or call up the Sydney Opera House in Google Earth and then spin around to the waterfront side; a late, great TV celebrity waits for you there. Or ask Google Maps to give you the directions from Japan to China and marvel at Google’s suggestion for getting across the Pacific (step number 42).
See Step 42 at:
Maple gets it’s TMX.
But I’ve dropped the ball on watching what’s happening with LME. Any insights appreciated.
BATS / CXE moves forward.
ASX oops....and CXA Ahhh.
DTCC having two data warehouses is just nuts. And saying just knowing US exposures is OK is also nuts in a world where we’re looking for consolidated views on exposures.
EMCF published interoperability service description...and welcomes Hugh.
MF Global is sad on so many levels. A firm going down because it didn’t stick with it’s knitting (commodities to sovereign debt is a bit of a jump), for the clients....but also for sooo many suppliers (be it PATS or any other). Then there is a displacement of all those people. The ED&F Man shop has had some good people through its doors. No-one likes to see exits in the style of Lehman, Madoff or MFG. Thoughts to staff, customers and suppliers.
Last week end of road training before the JPM corporate cup next week.
Good week end all,
Scott.
http://clearingandsettlement.blogspot.com/
Platforms
TMX GROUP BOARD BACKS MAPLE TAKEOVER BID The board of TMX Group has finally recommended that shareholders accept a C$3.8 billion takeover offer from a consortium of Canadian banks and pension funds.
Full story: http://www.finextra.com/news/fullstory.aspx?newsitemid=23108
BATS EUROPE MIGRATES TO EQUINIX DATA CENTRE
Binary Order Entry offers a new optional order entry method for participants to interact with the BATS Europe platform that further reduces latency. The full suite of BATS Europe order types will be available using Binary Order Entry, as well as the standard FIX protocol format.
http://www.finextra.com/news/announcement.aspx?pressreleaseid=41702
An Interview with Jeff Olsson, Group Executive, Technology, ASX
18/Oct/11
We have reduced latency from around 30 milliseconds five years ago to around 300 microseconds in ASX Trade at present (a hundredfold reduction). When the high speed matching facility (Purematch) goes live in Q4 this will be further reduced to around 100 microseconds.
The project is progressing according to the project schedule and still on track for the first system to go live at the end of the year (ASX Trade)
http://www.fst.net.au/Whoswho.aspx?id=471&op=au
ASX sheds light on recent outage, delays move to new data centre
03/Nov/11
ASX Limited has revealed the extent of the problems that shut down its ASX Trade platform last week for four hours and reportedly delayed its move to a new $32 million data centre in Gore Hill by three months.
Traders furious as glitch halts bourse
28/Oct/11
THE Australian Securities Exchange was working last night to repair the damage to its reputation after its recently installed trading system, run by the US exchange operator Nasdaq OMX, suffered its second setback in less than a year, causing a four-hour shutdown yesterday.
The outage also coincided with the final settlement day for October series exchange-traded options, leaving options traders furious.
http://www.smh.com.au/business/traders-furious-as-glitch-halts-bourse-20111027-1mm5o.html
Chi-X Australia reports successful debut
Chi-X Australia, the alternative trading platform owned by exchange operator and technology provider Chi-X Global, traded a total of A$3.84 million across the six stocks available on the first day of its soft launch, with no reported technical hitches.
http://www.thetradenews.com/trading-venues/exchanges/6979
TERAEXCHANGE PLANS CENTRAL LIMIT ORDER BOOK FOR SWAPS AND OTC CLEARED DERIVATIVES
http://www.finextra.com/news/announcement.aspx?pressreleaseid=41715
ERIS EXCHANGE RECEIVES CFTC APPROVAL TO BECOME A DESIGNATED CONTRACT MARKET AND ANNOUNCES THE LAUNCH OF BENCHMARK FORWARD STARTING INTEREST RATE SWAP FUTURES
http://www.erisfutures.com/sites/default/files/Eris_Exchange_Press_Release_10_31_11_0.pdf
MALTA STOCK EXCHANGE SIGNS FOR XETRA E-TRADING PLATFORM The Malta Stock Exchange is set to roll out Deutsche Börse's electronic trading system, Xetra.
Full story: http://www.finextra.com/news/fullstory.aspx?newsitemid=23119
Dark Pools Don't See Bright Future in Canada
Despite several dark pool launches north of the border this year, growth of the sector in Canada could be impeded by stiff regulation and a well-entrenched 'upstairs market.'
http://www.advancedtrading.com/crossingnetworks/231600189?cid=nl_wallstreettech_daily
Clearing
DTCC to Create A Second Data Warehouse for Swaps
The Depository Trust & Clearing Corp. has asked the Commodity Futures Trading Commission to register a new storehouse called the DTCC Data Repository that will keep track of details on transactions occurring only in the United States in different classes of derivative swaps.
DTCC does have a global swaps repository called Trade Information Warehouse. But a provision of the Dodd-Frank Wall Street Reform Act is leading to the creation of a separate warehouse of data on U.S.-only swaps.
HUGH BROWN JOINS EMCF AS DIRECTOR OF UK MARKETS
http://www.finextra.com/news/announcement.aspx?pressreleaseid=41811
EMCF INTEROPERABILITY SERVICE DESCRIPTION
In anticipation of the introduction of interoperability for Chi-X and BATS in January of next year we have produced a service description for your convenience.
The guideline contains practical and operational information about the set-up and processes around interoperability. The guideline can be found on our website under ‘projects’ and ‘interoperability’.
Participants
11-237AD MF Global
Tuesday 1 November 2011
ASIC is aware that companies in the MF Global group have been placed into administration. This impacts a number of companies in Australia.
http://www.asic.gov.au/asic/asic.nsf/byHeadline/11-237AD%20MF%20Global?opendocument
MF GLOBAL COLLAPSE HITS PATSYTEMS
Shares in UK screen-dealing software house Patsystems fell over 10% yesterday on news of the collapse of MF Global, a major customer accounting for recurring revenue of around £3 million.
Full story: http://www.finextra.com/news/fullstory.aspx?newsitemid=23110
MF Global Workers Face Tough Job Market
Recruiters are flooded with resumes as workers at MF Global Holdings race to get hired before peers.
http://www.wallstreetandtech.com/career-management/231902206?cid=nl_wallstreettech_daily
Stuff
MUMBAI GETS DIAMOND-DISPENSING ATM
Indian jewellery firm Gitanjali has unveiled an 'ATM' that dispenses not cash but gold, silver and diamonds.
Full story: http://www.finextra.com/news/fullstory.aspx?newsitemid=23102
DOUBLE DUTCH?
The Anglo-Dutch wars of the 17th and 18th centuries were acrimonious even by the usual standards of war . The wars were a very long time ago and we are all friends now
The common strand in all of these disparaging 'Dutch' expressions is that anything Dutch is the opposite of what it ought to be. Examples of these expressions are:
Dutch bargain - a bargain made when one is debilitated by drink - first recorded in 1654.
Dutch defence - a legal defence in which the defendant seeks clemency by deceitfully betraying others - 1749.
Dutch comfort - cold comfort; only good because things could have been worse - 1796.
Dutch metal/Dutch gold - a cheap alloy resembling gold - 1825.
Dutch courage - brash bravery induced by drink - 1826.
Dutch treat - no treat as such; each person pays for their own expenses - 1887.
http://www.phrases.org.uk/meanings/double-dutch.html
We Aussies are financially joined at the hip with the US.
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