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Tag Archives: World Federation of Exchanges

SEC Delays Decision on Chinese Buyout of CHX; Former HK exchange chief charged with conspiracy John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff CHX got the cold shoulder on Wednesday when the SEC decided to postpone their decision on the sale of the exchange to a group that includes Chinese investors. It’s a politically driven maneuver not far off from the XL Pipeline in the last administration, but it’s also an abdication of its responsibilities as a regulatory body. Leaving companies in limbo is bad policy, not to mention it will be noticed in Beijing the next time a US company wants to make an acquisition or deal there. You can have it both ways…

The future of futures markets: Exchanges looking to fail fast Blog,Commentary,Exchanges, OTC & Clearing,Fintech,Investing & Trading,Mwiki

Andreas Preuss, deputy CEO, Deutsche Boerse had a show stopper. At the IOMA: World Federation Exchanges conference in Frankfurt on Friday, he said his exchange will have to speed up its business processes exponentially in the next two to three years in order to thrive. Implementing products and services from beginning to release will go from today’s 18 months to 4 days. Yes, you read that correctly. And no, no one in the audience was laughing. “The old way was seven months of iterations of prototypes,” Preuss said. “In the world I am aiming at, the business IT and operations…

Chess Moves: Can Exchange M&A Really Make Shareholders And Customers Happy? Blog,Feature

I put CBOE’s John Deters on the spot. “Do you care about your customers, John?” I asked. “Yes, we care very much about our customers,” he replied. As chief strategy officer and head of multi-asset class solutions at CBOE Holdings, Deters really does care about them.  But that is a question end users often ask about exchanges today, especially as we look at the M&A activity in the stock, futures and options space. On a panel I moderated at the IOMA: WFE Conference in Frankfurt, we addressed the issue of consolidation with Deters as the lone exchange representative, Gedon Hertshten,…

Blockchain That Makes Sense: How Post-Trade Digital Ledger Technology Will Make Banks And Brokers Happy Feature,Fintech

When you talk about the potential for digital ledger technology, words like revolutionary and  transformative are often mentioned. Ray Kahn and Thorsten Peisl are not in the disruptor camp. Yet both left solid jobs in the financial markets and launched blockchain start-ups aimed at bringing new efficiencies to the marketplace. Their message about blockchain was clear at the World Federation of Exchanges annual meeting in Cartagena, Colombia this month. Yes, blockchain is coming. No, it’s not going to turn this industry upside down and replace all of the key functions of the transaction chain. But it will save lots of…

Women Rising To The Top: Chitra Ramkrishna, Adena Friedman Take Top Roles In The Exchange Space Commentary,Exchanges, OTC & Clearing,Feature

There was another historic election this month, this one at the World Federation of Exchanges’ annual meeting in Cartagena, Colombia. The WFE elected the first female chair in its 56-year history. Chitra Ramkrishna, managing director and CEO of the National Stock Exchange of India, will serve as WFE chairperson for the next two years. She succeeds Juan Pablo Cordoba, CEO of the Bolsa de Valores de Colombia. She is also the first woman to head up an exchange in India, beginning in 2013, and has been a pioneer in helping develop India’s capital markets. Neither is a small feat. Ramkrishna…

John Lothian Newsletter: Peak Finance Looks Like It’s Over; Banks Lead Charge to Adopt AI for Business; U.S. to expand rules for ‘too-big-to-fail’ clearing houses John Lothian Newsletter,Newsletter

First Read Invest in the Future; Trading Tech Awards Event to Launch Merit Badge Workshop Program Expansion By John Lothian Trading Tech Awards Event – Register Here For 45 years the financial community of Chicago has been supporting the Boy Scouts of America with an event that used to be held right on LaSalle Street under a big circus tent in front of the U.S. Federal Reserve Building. The event was the LaSalle Street Dinner. It still exists, but in a different form. In the past, leaders from the financial community, prominent bankers, brokers, clearinghouse executives and exchange leaders served…

John Lothian Newsletter: Wall Street firms under investigation for treatment of retail investors; Russian gang suspected of scam in ICE market; Nasdaq Commodities to launch new European Power and Gas Markets John Lothian Newsletter,Newsletter

First Read FinTech Exchange Chicago: Future Is Now For Some FinTech and Right Around The Corner For Other Technology Spencer Doar, JohnLothianNews.com FinTech Exchange 2016 Chicago was no wistful exercise in futurology last month. It was firmly set in the do-or-die present of technological solutions and opportunities. Chicago may not be thought of as a fintech hub among key global financial centers such as New York or London, but the homegrown talent was out in force along with a slew of imported presenters on the forefront of finding and pioneering new technology opportunities. The themes were well known — big…

John Lothian Newsletter: IEX Debate Escalates With Public Knock to NYSE’s Systems; CME Takes Action to Curb Price Volatility in Cattle Futures; Millennials Are Starting to Change the Stock Market John Lothian Newsletter,Newsletter

First Read Goodbye SFOA, Hello ICDA Jim Kharouf – JLN Adapt or die is a well understood maxim in this industry. And so that’s been embraced by Dan Day-Robinson, the chairman and change merchant for the new International Commodities and Derivatives Association. It was and probably will be better known for some time as the former Swiss Futures & Options Association. I first started attending the SFOA’s big conference in 1998, when the SFOA Burgenstock conference was really something not to be missed. Located atop a classic resort overlooking Lake Lucerne, it was an event attended by the CEOs of…

John Lothian Newsletter: Nasdaq Suspends Currency-Trading Plans While Rivals Race Ahead; Betting big against the yuan? Beijing will crush you; Bowie Bonds: When the Man Who Sold the World sold asset-based securities John Lothian Newsletter,Newsletter

First Read Yesterday’s Top 3 The top read stories in yesterday’s JLN were: Chicagoans help subdue unruly passenger on detoured United flight which included industry veteran Bob Fitzsimmons; Upstart IEX exchanges blows with small investors over high-frequency trading and Hedge Fund Veterans Who Blew Themselves up Now Courting Chinese Investors In today’s issue, under the Exchange section, there is a nice analysis of CME’s 2015 volumes. Among the product sectors analyzed, energy showed the biggest jump in volume last year, up 20 percent year-over-year. This year is off to another wild start in energy, just as Derek Sammann pointed out…