WooHoo,
this weekend is one of my favourite journey swims, Bondi to Bronte.
It
is also the first serious surf swim of the season.
This
is a 2.4km swim (subject to where they put the buoys) between the first two
surf life saving clubs in the world.
I
think I missed this swim in 2010.
In
2009, posn 839/1988, 120/215, 35:52 (Average time 37.13)
In
2008, posn 595/1702, 50/153, 35.21 (Average time 38:09)
Last
week-end was the Santa fun run.
Some of the best of photos
from this year’s Santa Fun Run are available HERE
on Variety Australia’s Facebook page.
At
the start of the week CXE and BATS were poised, by the end of the week the deal
is done. The bit that is left unsaid in these deals is the retrenchment and
rationalisation that follows. Thoughts with all the CXE team.
Meanwhile...down
under....
ASX
and CXA continue to acquaint themselves. Some early stats showing some nice
early market shares.
ASIC
runs the slide rule over ASX.
Aussie
has a new gold exchange! Welcome ABX. Another TLA (Three Letter Acronym).
Canada...comes
shopping in Aust!
Tradeweb
comes to Aust.
SFE,
oops ASX24 (ridiculous name in my view), publish MF Global client list.
Columbo
(Peter Falk) needed in Columbo (Sri Lanka)...I assumed Columbo ran on
Millennium...I was wrong.
Bye
bye SecFinex.
If
I had more time, I’d rant a bit more about MF Global and the predicament of
vendors.
Great
to whip Westpac for the use of ‘Stress-Free’ but this is hardly the sort of fly
by night advertising that puts a shiver down my spine. It’s the rest of the
junk that shouts out from the fly by night crowd in the Sunday rags (papers)
Funny
UBS say the Risk Officer departure is unrelated to Adoboli. Really?
Thank
you to my South African friends who have provided tremendous support for the
blog this week...including the revised title of “Pete’s blog”...for now we’ll
stick with C&S...although other suggestions are always welcomed.
Have
a great week end all.
I
gotta run!
S
Platforms
BATS Poised to Complete Acquisition of Chi-X Europe
BATS Global Markets said it received formal
approval from the United Kingdom’s Competition Commission to acquire Chi-X
Europe, the largest pan-European trading venue.
This was the last regulatory approval
required to complete the acquisition. BATS will merge Chi-X Europe into BATS
Europe to create BATS Chi-X Europe. The combined operation will be the largest electronic
trading venue in Europe, exceeding the volume of the London Stock Exchange or
the Frankfurt Exchange.
BATS Chi-X Europe will handle approximately
25% of European equities trading.
BATS
COMPLETES CHI-X ACQUISITION
|
Chi-X / ASX (source: IRESS)
|
||||||
|
Chi-X
|
|
ASX
|
|
%
Chi-X/ASX
|
||
|
21 - 25 Nov
|
132624
|
-23.08
|
6245796
|
5.12
|
2.12
|
|
|
14 - 18 Nov
|
172416
|
124.98
|
5941462
|
1.40
|
2.90
|
|
|
7 - 11 Nov
|
76636
|
310.26
|
5859346
|
-13.49
|
1.31
|
|
|
31Oct - 4 Nov
|
18680
|
na
|
6773086
|
na
|
0.28
|
|
As of today PureMatch is operational. PureMatch is an alternative order
book introduced by ASX to facilitate high frequency traders.
11-266AD ASIC releases ASX assessment report
http://www.asic.gov.au/asic/asic.nsf/byHeadline/11-266AD%20ASIC%20releases%20ASX%20assessment%20report?opendocument
http://www.asic.gov.au/asic/asic.nsf/byHeadline/11-266AD%20ASIC%20releases%20ASX%20assessment%20report?opendocument
Australia has a new Gold Exchange
Trading
has commenced today on the Australian Bullion Exchange (‘ABX’), Australia’s
first physical bullion exchange.
HKEx
Research and Corporate Development has released the Derivatives Market
Transaction Survey 2010/11.
The
full report of the survey is available on the HKEx website.
ASEAN
Exchanges CEOs: Plans on Track to Promote ASEAN as an Asset Class
Following the November 2011
ASEAN Exchanges CEOs meeting, the ASEAN Exchanges CEOs announced November 17
that the collaboration framework is on track towards meeting its goals of
collectively...
The
seven ASEAN Exchanges have a combined market capitalization of approximately
USD2.0 trillion and more than 3,600 companies listed on their exchanges.
Error Trade Triggers Colombo Exchange's Circuit
Breakers
An
error trade in the shares of a listed company triggered a market-wide halt on
the Colombo Stock Exchange (CSE) today.
The
volatility safeguards in place on the Sri Lankan bourse ensure that trading is
halted if the Milanka Price Index (MPI) drops by more than five percent within
the day from the previous market's close.
Colombo Exchange Trading Systems
Canada Rising: CNSX Markets Holds
Its Own
CNSX
Markets was established in 2001, the year that the TSX acquired the Canadian
Venture Exchange. Enter the CNSX, the first new Canadian stock exchange in more
than 75 years. The Toronto-based startup would try to carve out a niche for
itself among Canada’s junior capital space, comprising firms in the oil, gas,
base and precious metals, bio-farm and bio-tech industries. The CNSX
marketplace was launched in the summer of 2003 and a year later became a fully
recognized stock exchange.
Pure
Trading, the CNSX’s ATS . Pure was a major change for the Canadian marketplace
and represented a significant technology overhaul in the industry, as
everything from order management systems (OMSs), data management systems and
smart order routers had to be upgraded.
Pure
and the CNSX are lit markets, as are Omega, Alpha, Chi-X and the TSX Venture
Exchange (TSX-V). Currently, the dark liquidity conversation is in its infancy,
as only 3 percent of Canadian trade volumes are transacted in the dark. But in
June alone, the country saw the addition of two new dark ATSs, and one lit ATS.
TMX
RESOLVES STOCK SYMBOL MALFUNCTION
TMX Bids for Risk Management Software Vendor Amid
Troubles
Canadian
exchange operator TMX Group has entered into a takeover agreement with
Sydney-based risk management software provider Razor Risk Technologies and will
acquire all of the vendor’s issued shares. The offer is for CAD$.0349 ($.0343)
per share, equivalent to a purchase price multiple of one times annual sales as
of June 2011. Razor’s board has indicated that it will accept the offer,
subject to its terms and conditions.
NYSE
EURONEXT TO SHUTTER SECFINEX
US
exchange operator Nyse Euronext is to shutter its SecFinex securities lending
platform in the face of a dismal economic climate.
Nyse
Euronext acquired a 51% stake in the London-based business in 2007 in
partnership with Societe Generale and Fortis.
SecFinex
tried to reposition as a central clearing counterparty, striking a deal with
DTCC-backed EuroCCP to launch a service for the UK market.
TRADEWEB
INTRODUCES AUSTRALIAN GOVERNMENT BOND MARKETPLACE
Clearing
Across
the Pond
...is
a DTCC publication designed to provide a "thumbnail" sketch of
financial regulatory reform activities in the United States and European Union.
Enjoy!....
Policy
Javelin in the News
Participants:
Man’s Aussie client list.
Pursuant to Rule 5160(b), the Exchange has suspended
the following entities’ admission as an ASX 24 Trading Participant:
* Biskra Aotearoa Limited
* Brahman Securities Pty Limited
* Epoch Capital Pty Limited
* GETCO Australia Pty Limited
* GFIN Pty Limited
* MW Markets Pty Limited
* Obmar Pty Limited
* Rouge Homme Futures Pty Limited
* Seacurl Trading Pty Limited
* Sean Taberner Trading Pty Limited
* Silkroad Capital Pty Limited
* S J L Hindsight Securities Pty Limited
* Spectrum Capital Proprietary Limited
* TransMarket Trading Pty Limited
* Brahman Securities Pty Limited
* Epoch Capital Pty Limited
* GETCO Australia Pty Limited
* GFIN Pty Limited
* MW Markets Pty Limited
* Obmar Pty Limited
* Rouge Homme Futures Pty Limited
* Seacurl Trading Pty Limited
* Sean Taberner Trading Pty Limited
* Silkroad Capital Pty Limited
* S J L Hindsight Securities Pty Limited
* Spectrum Capital Proprietary Limited
* TransMarket Trading Pty Limited
Further
details are set out in ASX 24 notice No. 201/11
Bankrupt MF Global Sticks Tech Vendors with Unpaid
Bills
A
list of MF Global Holding's unsecured creditors and shareholders includes Caplin Systems Ltd.,
owed $427,520; Headstrong
Services, an IT consultant, owed $3.9 million, Bloomberg Finance, LP, owed
$276,064, according to a story in Bloomberg News, which cites the company's
bankruptcy filing and related court papers filed in the Manhattan bankruptcy
court.
Earlier this week, Patsystems, a provider of
screen-based dealing systems for futures and options markets said it also is
suffering a financial loss by the collapse of MF Global, its largest client.
The shortfall in revenues from MF Global has led Patsystems to consider a
possible takeover offer from ION Trading, a technology firm that currently owns
29 percent of the company and is its largest shareholder. ION has valued each
share in Patsystems at 14 pence or 20 cents per share, according to Monday's
statement.
As
of Sept. 30, JPMorgan had $2.27 trillion in assets, ahead of Bank of America
(Charlotte, N.C), with $2.21 in assets, according to SNL. JPMorgan Chase
overtook BofA in October as the country's largest bank, a position held by Bank
of America since it acquired Merril Lynch in the first quarter of 2009.
11-277MR Westpac reviews use of 'stress-free' in
response to ASIC’s concerns
http://www.asic.gov.au/asic/asic.nsf/byHeadline/11-277MR%20Westpac%20reviews%20use%20of%20%20'stress-free'%20in%20response%20to%20ASIC%E2%80%99s%20concerns?opendocument
http://www.asic.gov.au/asic/asic.nsf/byHeadline/11-277MR%20Westpac%20reviews%20use%20of%20%20'stress-free'%20in%20response%20to%20ASIC%E2%80%99s%20concerns?opendocument
UBS
CHIEF RISK OFFICER MISKOVIC REPLACED BY PREDECESSOR In the wake of its $2.3
billion trading scandal, Swiss bank UBS has replaced chief risk officer Maureen
Miskovic after less than a year in the job.
UBS
insists the departure of Miskovic is not connected to the events that saw
London-based Kweku Adoboli make a loss of $2.3 billion through unauthorised
trading.
Stuff.
Foreign Investment Decision - 25/11/2011
approve
the application by SABMiller PLC (SABMiller) to acquire Foster's Group Ltd
(Foster's)
Oh
no...I’ll be drinking Sth African beer!
Virgin Australia Welcomes ACCC Approval of Singapore
Airlines Alliance
1 December 2011: Virgin Australia
group of airlines today welcomed the ACCC’s final approval of its proposed
alliance with Singapore Airlines.
RBA loses pay autonomy for Stevens
The
RBA now pays Mr Stevens more than Federal Reserve chairman Ben Bernanke and
European Central Bank president Jean-Claude Trichet combined.
The
RBA chief's 2010 total compensation was $1.05 million, with an $805,000 base
salary. Mr Trichet was paid 367,863 euros ($500,000) last year, 2 per cent more
than his 2009 salary, according to the ECB's annual accounts published in
March. Mr Bernanke earned $US199,700
An
old guy was working out in the gym when he spotted a sweet young
thing...
He
asked the trainer that was near-by, "What machine in here should I use to
impress that sweet thing over there?"
The trainer looked him up and down and said, "Try the ATM in the lobby."
The trainer looked him up and down and said, "Try the ATM in the lobby."
"Don't
try to stand out from the crowd, avoid crowds altogether" was a line from
Ignore Everybody (Ignore Everybody: and 39 Other Keys to Creativity by Hugh MacLeod); here I tried to illustrate it visually:
I
liked this!
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