LSE in the news and as ever, more news and reports on blockchain than one can read in a week.
In the past I've levied 2 criticisms at the LSE. One, that is an incumbent institution and Two, that the sum of the parts do not unlock the value of the group. Time to re-visit this.
First of all, I'm a little surprised by how little credit Xavier is getting. Lets look at the share price under his tenure. At MiFID (Nov '07), LSE was around STG 17+ a share. Post MiFID Rolet comes in, after LSE shares have had a steady fall with the fan fare of competition to circa STG 7 a share. Now, it is circa STG 28 (and rising...some say even STG 32 is attainable)...and the loss of market share has been contained.
So, respect to Xavier and his advisors. They've obviously been listening to their customers.
So, One. From 2009, with the Millennium acquisition LSE started a journey of not behaving like an incumbent. And that journey continued with, Two, a tidying up of the sum of the parts...grabbing the LCH stake and going from a board representative to an outright owner, likewise with FTSE (alongside the background of the benchmarking hype). I must say I'm surprised by the full value that has now been 'unlocked' from the LSE holdings.
I am also surprised by how little press I see about Euronext. With LSE in play...and a debate about Brexit on the cards....I think Euronext offers great value to those that walk away empty handed from the LSE dance. A real Eurozone play..(read ECB "location policy")...and foothold (all the more so if the Clearnet stake is divested).
Some other bits of history:
NYSE Group, owner of the New York Stock Exchange, offered €8 billion (US$10.2b) in cash and shares for Euronext on 22 May 2006,
DLT / BlockchainAnd so it happens....Ether has overtaken the marketcap of Ripple (leaving Ether second only to bitcoin).
Look at Ethers value appreciation here.
(My advice has been to switch from Bitcoin into Ether)
No, Bitcoin is not the future of securities settlement
Deloitte’s seventh annual Tech Trends report identifies eight trends that are likely to disrupt businesses in the next 18-24 months – from blockchain to augmented reality, the Internet of Things, socially responsible applications of technology and more.http://www2.deloitte.com/global/en/pages/technology/articles/tech-trends.html#
Banking on Blockchain: Charting the Progress of Distributed Ledger Technology in Financial Services.
Deutsche Bank calls for co-operation with fintech firms on B2B services.
"For example, how individuals gain access to a distributed network and who controls this process, along with what data security exists for users are vital considerations for us as a regulator," he says. "The FCA continues to monitor the development of this technology but is yet to take a stance until its application is clearer."
MarketsBATS drops Chi-X name in global rebrand
Eurex Shut for Two Hours Due to Tech Issue
IEX Sick of SEC Delays on Exchange Approval
....These “flash boys” are starting to lose their patience....
NYSE Embarks on High-Stakes Technology Shift for its Exchanges
....moving its markets on to a single software platform called Pillar, a move that its owner Intercontinental Exchange Inc. hopes will allow it to shed its image of having clunky, out-of-date technology...
SEC to focus on asset management, disclosure, market structure in 2016
In equity market structure, the SEC will finalize rules on the oversight of active proprietary traders and on alternative trading systems. It will also work to enhance order routing disclosures and the risk controls on trading algorithms
Esma Pledges to Ease Reporting Burden on Trading Firms
ESMA is examining ways it can standardise trade reporting requirements, amid continued complaints that firms are being forced to do the same work several times over to satisfy different rules. The regulator has asked its Market Data Standing Committee to consider how to reduce the burden on the finance industry in the wake of a swathe of different reporting requirements, contained in legislation such as the Markets in Financial Instruments Directive, the Securities Transaction Financing Regulation and the European Market Infrastructure Regulation. Finance firms complain that the rules require them to provide the same information in subtly different formats, duplicating work and pushing up costs.
JPMorgan's ‘London Whale’ Surfaces to Say '12 Loss Not His Fault
The Seekers - Morningtown Ride (1964 - Stereo, enhanced video)https://youtu.be/M-RkC6MYT2E
...and one of the best things I know to come out of Melbourne!