Some interesting feedback during the course of the week.
LSE/SGX
I don’t always quote the first source for a story, nor maybe
the best and most reliable source for a story. I get frustrated when people
send me links to stories which require a subscription, so I try and include
links to free (or free to subscribe) services wherever possible. The thing I’m
trying to remember is the event itself. I’ve made the blog searchable so I can
find the relevant events to jog my memory.
Now, a plug for the FT Trading Room . Yes, I believe Jeremy
Grant was the first to announce the LSE/SGX deal was formally denied. However I
steered clear of links to the FT tiered subscription model. I think the FT’s
coverage of Market Infrastructure has gone up in leaps and bounds with the
arrival of Jeremy and the trading room. There was a while there when Financial
News was the only show in town.
A belated welcome to Asia for Jeremy.
So, have a look at:
Respectful blogging
Next, The Ju-liar reference to our PM was disapproved of.
I saw the “title”(?) mentioned in a blog post. It made me
smile, I thought it was a clever word play, hence I shared it.
The initial phrase was given air time by a local “shock
jock” Alan Jones.
Irrespective of political allegiances what I do feel is:
...Australian politics is a
national embarrassment, from all sides, major parties to independents. In my
view there is way, way too much vitriol, too many personal attacks, too many
shallow sound bites and no meaningful and constructive policy debate for the
long term good of this country or its inhabitants. There should be much more
bipartisan support and serious debate of tweaking policy. Not black and white.
...and Baz Luhrmann’s song, Suncreen, sprang to mind which I
highly commend :
He goes on to say....
Accept certain inalienable truths, prices will rise,
politicians will Philander, you too will get old, and when you do you'll
fantasize that when you were young prices were reasonable, politicians were
noble and children respected their elders.
I also think it is available on youtube (but my
administrator won’t allow me to check this nefarious site)
What I was completely unaware of was this piece was
originally from a Chicago columnist...Mary Schmich.
Total respect to you Mary!
....and she writes very well indeed:
HFT perception
I do believe Australia has a higher “anti-HFT” perception
than most.
One of the local blog’s I follow is MacroBusiness
(until they sell out when they can).
They have an interesting link to
the Nanex Research.
(Which in my humble view shows a
shift to the open and closing auction).
The economist also debated the
issue after the now infamous flash crash.
Not promoting Halifax, but I was amazed when they sent me an
email offering equity execution at STG 3.95. It looks like the benefits of
cheaper trading really are getting to the end investor. That’s impressive. At
least to me.
The Bold and Beautiful....get to swim with a whale!
Advertising is the cost of being boring.
http://us1.campaign-archive.com/?u=028de8672d5f9a229f15e9edf&id=59feeb343c
Happy Olympics every one.
All I can see in that Olympic logo is Bart and Lisa
Simpson....but hey, that’s google for you.
Meanwhile City 2 Surf training for me.
Have a great couch potato week-end all,
S
TRADING PLATFORMS
ASX faces new foreign challenge
ASX
AND SINGAPORE EXCHANGE BID TO BOOST MARKET CONNECTIVITY
This
will allow customers in the SGX co-location data centre to connect more easily
to ASX 24, resulting in an expected increase in the flow of futures market activity
into Australia.
It will extend ASX's international hub network, which currently includes Chicago, New York, London, Hong Kong and an existing location in Singapore. About 6% of ASX 24 futures and options volume is generated from its international hub network.
It will extend ASX's international hub network, which currently includes Chicago, New York, London, Hong Kong and an existing location in Singapore. About 6% of ASX 24 futures and options volume is generated from its international hub network.
Monthly Market Report - June 2012
London Stock Exchange Group (LSE.L) sits at the heart of the
world’s financial community, offering international business unrivalled access
to Europe’s capital markets. In June 2012 a total of 30.1 million trades were
carried out across the Group’s electronic equity order books, an increase of
four per cent on June 2011. They had a combined value of £153.1 billion (€190.0
billion), down 24 per cent on June 2011 (£201.8 billion).
DATA
BIZ DRIVES NASDAQ OMX Q2 PROFIT RISE Nasdaq OMX posted a small second quarter
net income rise as strong market data revenues helped to offset weak trading
volumes.
"This
performance was a direct result of our continued focus on cost management, and
the execution of our strategy to build strong, recurring and subscription-based
revenue businesses that can drive growth, despite the trading environment."
TOKYO
COMMODITIES EXCHANGE EXTENDS NASDAQ OMX TECH CONTRACT
The Nasdaq OMX Group, Inc (Nasdaq:NDAQ)
announces that the Tokyo Commodities Exchange (Tocom) and system integrator NTT
Data have extended their contract with Nasdaq OMX to 2019.
**** Yikes, 7yrs is a long time. (Assume this is an early
commitment to renew for another 5yrs.)
THAI
BOURSE PRESENTS OPERATIONAL MASTERPLAN; COMMISSIONS KOREA EXCHANGE TO DEVELOP
CLEARING
LME
SHAREHOLDERS VOTE FOR HKEX DEAL
NYSE Euronext Announces Trading Volumes for June 2012 and
Other Metrics
Trading Volumes in June Lower Across Most Venues,
Year-Over Year and Month-Over-Month European Cash Trading Volumes in June Up
10% vs. Prior Year; Up 4% vs. May Second Quarter 2012 Trading Volumes Mostly
Higher Versus Weak First Quarter 2012 Levels
BATS
CHI-X EUROPE ADDS ADAM EADES AND JOHN WOODMAN TO BOARD
Regulation blamed for ASEAN link hold-up
The link between SGX and Bursa Malaysia was
scheduled to open in June, with the Stock Exchange of Thailand (SET) to join in
August 2012 after it had migrated to a new trading platform. It is not known
how the current delay will affect SET’s plans to join.
The region’s other stock markets – the
Indonesia Stock Exchange, the Philippine Stock Exchange and Vietnam’s Ho Chi
Minh and Hanoi exchanges – are involved in discussions to join the network, but
their participation is not confirmed.
Foreign investors wary of Indian watchdogs
a General Anti-Avoidance Rule (GAAR) was introduced in India
after a protracted legal battle over taxes on Vodafone’s acquisition of the
India operations of Hong Kong’s Hutchison Whampoa.
There is also some uncertainty over promissory notes
(P-Notes) that are issued by foreign investors, referred to locally as FIs.
CLEARING
Market split over HK OTC derivatives proposals
The regulatory proposals for OTC derivatives from the Hong
Kong Monetary Authority and Securities and Futures Commission are garnering a
mixed response from market participants.
MMADX is currently looking at the feasibility of launching
its platform in Asia after it becomes operational in Australia.
Regulating Australia's $78 trillion casino
ICE
INTRODUCES CLEARING FOR EMERGING MARKETS CDS INDEXES
POLICY
CFTC
NAMES DTCC-SWIFT AS LEI PROVIDER
UK
PAYMENTS COUNCIL TO BE STRIPPED OF POWERS AS GOVT SEEKS 'FRESH START'
Following
last year's bungled and abandoned attempt to scrap cheques, the bank-run UK
Payments Council is set to be stripped of its powers by the government.
PARTICIPANTS
Nomura CEO Watanabe to Resign Amid Scandal,
Nikkei Says
Bloomberg
Nomura Holdings Inc. Chief Executive Officer Kenichi Watanabe will step down as the firm seeks to resolve an insider-trading scandal, the Nikkei reported, without saying where it got the information.
Bloomberg
Nomura Holdings Inc. Chief Executive Officer Kenichi Watanabe will step down as the firm seeks to resolve an insider-trading scandal, the Nikkei reported, without saying where it got the information.
http://www.bloomberg.com/news/2012-07-25/nomura-ceo-watanabe-to-resign-amid-scandal-nikkei-says.html
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