Industry news
Date: Sep 16, 2013
September 16, 2013: Larry Summers out of running for Fed chairman; CBOE briefly halts trading on two exchanges; Work on financial transaction tax to go on, EU executive says
Larry Summers withdraws from consideration to lead the US Federal Reserve after a trial announcement of his selection via a newspaper in Japan was met with strident opposition. CBOE’s futures exchange shut down briefly on Friday for connectivity issues. In Europe, the European Commission says that the apparent illegality of a financial transaction tax is no big deal, and they’re going to make one anyway.
First Read
Tim Lothian, Eagle Scout
by John J. Lothian
My son Tim became an Eagle Scout on Saturday. He successfully passed his Eagle board of review on Saturday morning, thus achieving the rank of Eagle Scouts for Boy Scouts of America.
Whew! I am happy and relieved all at once. I am happy he finally achieved the rank which we had hoped for so long. I am relieved it is done. He is an Eagle Scout. He will now always be an Eagle Scout.
Getting to the rank of Eagle Scout is not easy. Only about 1 percent of boys who enter scouts achieve that rank. Tim was one of six scouts from the class of 2013 in our troop that achieved this rank, including 3 others who came from our Cub Scout Den.
Over the years, Tim took some time away from advancement for himself to help other scouts advance. He helped recruit Cub Scouts, including his brother Robby, join our troop by acting as Den Chief. And in his final year, he displayed leadership in the community by being the Captain of the Senior Youth Fellowship at our church, a position equivalent to President. He was also selected to become a Junior Assistant Scoutmaster of our troop.
In the end, Tim finished up all the merit badges, completed an Eagle project he thought up and led, and held all the leadership positions required to become an Eagle. He did it. He finished it up.
Tim is one of 4 Eagle Scouts on his dormitory floor at the University of Missouri. He is proud of his accomplishment and so are we.
Thank you to all of those readers through the years who have supported Tim in his Scouting career. Thank you to all who bought popcorn from him, so he could attend all the campouts, Jamborees and other activities. Thank you to all who wrote me encouraging notes. You helped make a difference in his life and helped produce for the world another Eagle Scout.
P.S. Robby Lothian, Tim’s 12-year-old brother in 7th grade, is a First Class Scout and selling popcorn to help him support his troop and his activities with it. If you are interested, let me know and I will have him send you details.
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The CFTC Is Beating the SEC on Speed-Trading Rules
Matthew Philips – BusinessWeek
After the Flash Crash on May 6, 2010, the government’s primary market regulators, the Securities and Exchange Commission and the Commodity Futures Trading Commission, acted together and issued a joint report dissecting how computer-driven trading caused stocks on the Dow Jones to plunge 9 percent in 20 minutes, temporarily vaporizing almost $1 trillion in market value. In the three years since, the CFTC has been far more aggressive in trying to get its hands around the opaque world of high-frequency trading (HFT) – holding technology advisory committee meetings and sponsoring research into how speed traders affect market volatility.
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***** I will call your Mary Jo White, and raise you one Scott O’Malia.
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MarketAxess: Trading Revenues to Benefit Emerging Markets Charities
MarketAxess Holdings Inc., the operator of a leading electronic trading platform for U.S. and European high-grade corporate bonds, emerging markets bonds and other fixed income securities, today announced that its tenth annual EM Charity Trading Day will be held on Wednesday, September 18, 2013. MarketAxess, in partnership with the Emerging Markets Trade Association, will donate all emerging markets transaction revenues from the trading day to emerging markets charities.
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***** Good luck to my friends at MarketAxess on their charity day!
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Hedge funds turn to psychology software to revolutionise trading
David Oakley in London – FT.com
Were you alone in a small office after a breakfast of muesli or in an open-plan space nursing a hangover when you made that brilliant trade? Some of the world’s leading hedge funds are asking these questions as they turn to psychology to delve into the minds of top fund managers to boost performance and profits.
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***** It turns out that nine out of ten hedge fund managers were nursed by their mothers for far too long.
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Proudly Private, a Wall Street Brokerage Firm Marches On
SUSANNE CRAIG – NYTimes.com
On Wall Street, most bankers are paid a convoluted formula of cash and stock that’s determined by committee. At the boutique brokerage firm Sandler O’Neill, it’s old school: Everyone gets cash and one opinion matters most: Jimmy Dunne’s.
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***** Sure, Sandler O’Neill are sharks, but they’re nice sharks. Fish are our friends. Fish are our friends.
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Lehman Haunts Banks Even After Shares Triple
Whitney Kisling – Bloomberg
For all the efforts to regulate banks since Lehman Brothers Holdings Inc. collapsed, stock investors have no more faith in U.S. financial institutions now than they did in early 2008, relative to the rest of the market.
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***** Maybe we need a new baseline for this one.
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The essential plumbing of equity trades
Tim Cave and Anish Puaar – Financial News
The past decade has seen a fundamental overhaul of the path a trade takes, from a bright idea by a portfolio manager to the buying or selling of a share and then onwards through the settlement process.
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***** And then it turns out… the explanation of how trades take place is behind a paywall.
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Gary DeWaal’s Bridging the Week: September 9 to 13 and 16, 2013
Gary DeWaal and Associates LLC
CFTC issued a concept release on automated trading; seeks views on 124 questions; ICE Exchanges in US and Europe will require use of self trade prevention functionality as of November 1 for proprietary traders with direct market access; CFTC issued rule enforcement reviews for three exchanges; EFRPs singled out in one (again); and CME seeks to ban all transitory exchanges of futures for related positions (EFRPs) and increase record keeping and other requirements related to non-transitory EFRPs for traders and brokers
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Will Nasdaq Lose the Twitter IPO Thanks To Its Systems Glitches?
Phil Albinus – Traders Magazine
The Twittersphere lit up like a pinball machine late yesterday as the microblogging site announced – in a tweet, naturally – that it had filed for its initial public offering. But there’s a burning issue that will have an impact on investors and traders alike: Will Twitter trade on Nasdaq or the New York Stock Exchange?
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***** Ok, break out your Elmer Fudd or Tweetie Bird voice and repeat after me: “Oh wheah oh wheah wiww Twitter twade?”
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MarketsWiki
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Lead Stories
Larry Summers out of running for Fed chairman
Reuters
Former Treasury Secretary Lawrence Summers withdrew on Sunday from consideration to succeed Federal Reserve Chairman Ben Bernanke after fierce Democratic opposition hurt his chances of being confirmed in Congress.
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CBOE briefly halts trading on two exchanges
Reuters
Trading on two of CBOE Holding Inc’s securities exchanges was halted for more than half an hour on Friday due to unidentified technical problems, becoming the latest black eye for U.S. exchange-operators who have suffered a series of outages and malfunctions this year.
jlne.ws/16x1N3v
Work on financial transaction tax to go on, EU executive says
Reuters
The European Commission rebuffed on Saturday an EU legal opinion that questioned the legality of a planned financial transaction tax and said work on the levy in 11 European Union countries would go on.
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Trader’s messages return to haunt ICAP in Libor probe
Caroline Binham and Philip Stafford in London – FT.com
Embarrassing trader chat that returns to haunt financial institutions has been a feature of the Libor scandal. Talk of bottles of Bollinger champagne in exchange for favourably altering a submission to the rate-setting process has plagued the employers of the traders in question. But for ICAP, which is expected to be the next institution to settle in the worldwide probe, a hint of its vulnerabilities is to be found in messages from traders elsewhere, namely the Royal Bank of Scotland.
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Nasdaq CEO Maintains Board Support
JACOB BUNGE – WSJ.com
Nasdaq OMX Group Inc. Chief Executive Robert Greifeld has so far retained the support of the company’s directors and investors, despite the most recent technology problem afflicting the exchange group.
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CFTC Issues Notices of Temporary Registration as a Swap Execution Facility to SwapEx, LLC, GFI Swaps Exchange LLC, and MarketAxess SEF Corporation
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Global banks in talks to set up joint checks on customers
Daniel Schäfer and Philip Stafford – FT.com
Large global banks including HSBC and Morgan Stanley are in talks to set up industry-wide services for money laundering and terrorist finance checks, as stricter regulation is forcing them to reduce costs by pooling resources.
jlne.ws/16x1NjT
Central banks struggle to get their message across, says survey
Ralph Atkins in London – FT.com
Communication skills of the world’s main central banks have deteriorated in the eyes of financial markets, according to a survey released as the US Federal Reserve this week plots the future of its large-scale asset purchases.
jlne.ws/16x1Ps8
Ten things we’ll still be talking about in five years’ time
Ben Wright – Financial News
At times, the financial industry can appear like a study in perpetual motion – always developing, never standing still. The five-year anniversary of the collapse of Lehman Brothers reminds us that banking empires can crumble and new orders can be established in the blinking of an eye. Fads can flare up and then fizzle away just as quickly (anyone remember 130/30 funds?).
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Govt seeks RoC report on NSEL matter
Business Standard
The Corporate Affairs Ministry has sought a report from the Registrar of Companies (RoC), Mumbai on National Spot Exchange, which is engulfed in a major payment crisis involving over Rs 5,500 crore.
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Jignesh Shah selling FT stake, allege NSEL investors
Business Standard
The National Spot Exchange Ltd (NSEL) investors’ forum on Friday alleged Financial Technologies founder Jignesh Shah was in advanced discussions to sell a substantial part of his holding in Financial Technologies, the exchange’s promoter.
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Hedge funds turn to spy technology
Madison Marriage – FT.com
Hedge funds are turning to satellite technology, traditionally used by governments to gather military intelligence, to gain a competitive edge. Hedge fund managers are particularly interested in satellite imagery in order to monitor risk exposures around mines, ports, plantations or farmland before making investments.
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Regulatory
Esma delays swaps reporting by a month
Tim Cave – Financial News
Europe’s top securities regulator has delayed the start of new swaps reporting rules by more than a month, pushing Europe’s implementation of G20-led reforms to the derivatives markets further behind the US.
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FSB warns over lack of EM regulatory expertise
Michelle Price – Financial News
A lack of regulatory resources and expertise is hampering the implementation of key post-crisis reforms in emerging market economies, the Financial Stability Board has warned.
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Eurogroup head says banking agency won’t be delayed
Reuters
Work will pick up after Germany’s elections to set up a European agency that can order the restructuring or closure of any euro zone bank, the head of group’s finance ministers Jeroen Dijsselbloem said on Saturday.
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The long shadow of European regulations
Claudio Capozzi – FOW
A new set of acronyms is now part and parcel of the European commodity trading industry. Regulations like Emir (European Market Infrastructure Regulation), Mad (Market Abuse Directive) and Remit (Regulation on Energy Market Integrity and Transparency) are in the final throes of their implementation albeit with some remaining uncertainty.
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Pressure mounts on CFTC for relief on Sef rules
Joel Clark – FX Week
CFTC is being lobbied to grant relief on the contentious Footnote 88, which requires platforms to register as Sefs even if the products they offer are not yet made available to trade
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Euronext Amsterdam’s AEX-Index Mini Futures Contract and Euronext Paris’s CAC40 Index Mini Futures Contract have been Deemed Certified and may be Offered to U.S. persons through Direct Access Effective September 13, 2013
On August 21, 2013, NYSE Euronext (Euronext) requested accelerated Commodity Futures Trading Commission (CFTC) review of its Euronext Amsterdam AEX-Index mini futures contract and its Euronext Paris CAC40 Index mini futures contract so that they may be offered to U.S. persons. Euronext also requested that the contracts may be made available through direct access terminals in the United States.
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[NFA] Financial Requirements Section 4. Financial Requirements and Treatment of Customer Property
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[NFA] Compliance Rule 2-45. Prohibition of Loans by Commodity Pools to CPOs and Affiliated Entities
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[NFA] Interpretive Notice: Compliance Rule 2-45: Prohibition of Loans by Commodity Pools to CPOs and Related Entities
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“The Brutality of Reality” – Speech By CFTC Commissioner Bart Chilton Before The Michigan Agri-Business Association, Mackinac Island, MI
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Exchanges & Trading Facilities
LME China Expansion May Include Joint Ventures, CEO Abbott Says
Juan Pablo Spinetto & Agnieszka Troszkiewicz – Bloomberg
The London Metal Exchange, the world’s largest metals marketplace, may form partnerships to expand operations in China as it seeks to establish its first warehouses in the country and add new contracts.
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London Metal Exchange Critics Push for Transparency
Matt Day – MoneyBeat – WSJ
In the contentious debate about the future of the London Metal Exchange, there’s at least one area of common ground: the LME needs to make its trading data public.
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CBOE Holdings says trading resumes on C2 options exchange
Reuters
Exchange operator CBOE Holdings Inc said that trading has resumed on its C2 options electronic exchange on Friday after a halt due to connectivity issues.
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MIAX Options Exchange Executives Attend SEC Industry Meeting
Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX Options Exchange (MIAX), and Barbara J. Comly, Executive Vice President and General Counsel of MIAX, met yesterday with Securities and Exchange Commission Chair Mary Jo White, market regulators and other U.S. options and stock exchange executives to discuss industry reform and devise a plan to better manage technology problems following recent trading interruptions.
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[SIX] Bringing companies and investors together
The Investora capital market conference, which SIX Swiss Exchange is supporting as a Gold Partner, has been successfully launched.
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London Stock Exchange Welcomes Netscientific, 20th Technology Admission Of 2013
Strongest Year For London Technology Admissions Since 2007, Raising £668m To Date – NetScientific Raises £30m In AIM Flotation
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TMX Group Limited Announces Credit Rating
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TOM MTF Statistics Week 37 2013
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Hedge Funds & Managed Futures
Asset managers receive a ‘too-big-to-fail’ alert
Sophie Baker – Financial News
Asset managers are not taking sufficient steps to protect their back-office operations because they believe their outsourcing providers are “too big to fail”, industry insiders have warned. Many asset managers outsource non-core functions to third-party providers such as a custody bank. The services include fund administration, fund accounting, valuations and other parts of the back and middle office.
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Deutsche continues fund closures
Joe McGrath – Financial News
Deutsche Asset and Wealth Management has confirmed it is realigning its fund offering in emerging markets with the merger of its £87.5 million DWS Emerging Asia fund into the DWS Invest II Asian Top Dividend fund.
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Pensions fail to cash in on damages of $18bn
Madison Marriage – FT.com
Pension funds have lost billions of dollars in unclaimed damages over the past 12 years, failing to fulfil their fiduciary duties, new research shows. Investors that have not participated in US securities class actions have missed out on $18bn of damages between 2000 and 2012.
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Some SAC Capital investment staff jumping to rival firm
Reuters via Yahoo! News
By Svea Herbst-Bayliss BOSTON – Three investment professionals have quit Steve Cohen’s SAC Capital Advisors, currently fighting criminal insider trading charges, to join a rival hedge fund, two people familiar with the moves said on Friday.
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Hedge funds reap rewards from bet on Lehman Europe carcass
Reuters
Hedge funds which gambled on how much money would be recovered from the bankrupt carcass of Lehman Brothers are set to make hundreds of millions of pounds from a full payout to creditors of the European arm.
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What’s the point of social media for private equity
Becky Pritchard – Financial News
For busy buyout professionals it can be difficult enough finding time to fit in the demands of their day jobs and social lives, let alone to tweet, blog and join LinkedIn communities.
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KKR’s Kravis sees doors opening for deals in Japan
Reuters
Henry Kravis, co-founder of private-equity firm KKR & Co LP, said he sees rising opportunities for dealmaking in Japan as the country’s firms open up to foreign partnerships in response to competition from South Korea and China.
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Bridgewater’s All Weather Fund still under weather through August: sources
Reuters via Yahoo! News
A $70 billion portfolio managed by hedge fund titan Ray Dalio’s Bridgewater Associates is still struggling to overcome heavy summer losses that could lead some investors to place redemption notices in the last quarter of the year, sources familiar with the matter said on Friday.
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Morningstar Expands Commodities Pricing, News; Adds Commentary, Context to Quant Ratings
Faye Kilburn – WatersTechnology
Chicago-based data and investment research provider Morningstar has added new content to the products of its Morningstar Commodity Data business—the former Logical Information Machines, prior to its 2009 purchase by Morningstar—which aggregates market and fundamental data from hundreds of sources to provide commodity traders and risk managers with additional insight into the energy, oil, gas, and commodities markets.
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Demand for alternative Ucits funds remains strong
Risk.net
AUM in alternative Ucits funds grew by 8.3% from E96.6 billion in March 2013 to E104.6 billion at the end of the second quarter of 2013, breaking the E100 billion barrier for the first time, says Alceda
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CFTC Commitments Of Traders Reports Update
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Banks & Brokers
Danske Bank ousts chief executive Eivind Kolding
Richard Milne, Nordic Correspondent – FT.com
Danske Bank ditched Eivind Kolding as chief executive as Denmark’s biggest lender said it needed a boss “with stronger qualifications within banking”.
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Custodians await clarity on new rules
Lynn Strongin Dodds – Financial News
Until they have more certainty about the impact of new regulation on their securities lending operations, custodian banks are not changing the way they operate.
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Ex-JPM ‘Whale’ deputy argues he was just following orders -source
Reuters
A lawyer for a former JPMorgan Chase & Co employee who worked with “the London Whale” Bruno Iksil, has been trying to convince U.S. prosecutors that his client was the unwitting victim of manipulation by his superiors, a source familiar with the matter said on Friday.
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Four men charged over British Santander cyber plot
Reuters
British police charged four men with trying to steal millions of pounds from Santander by hacking into the bank’s computer system, they said on Saturday.
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Citi Announces Yiting Shen as Head of Payments for Developing Currencies
Business Wire via Yahoo! Finance
Citi has created a new position charged with enabling and supporting the commercialization of clearing product capabilities for the world’s developing currencies, including the Chinese renminbi, Brazilian real, Russian ruble, and Indian rupee.
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Clearing & Settlement
CME Clearing – TETCO STX Natural Gas (Platts IFERC) Fixed Price Futures
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Misys Launches Global Back Office To Streamline Operations And Ensure Bank-Wide Consistency
Industry Survey Reveals Potential Cost Savings Of Up To 50% From Implementing A Single Back Office System
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Systar Advances Operation Monitoring Capabilities For The Clearing House
U.S. Dollar Payment Infrastructure Provider Relies On Innovative Operational Intelligence Platform For Integrated Monitoring Of Core Payments Systems
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Indexes & Products
BlackRock: ETFs Didn’t Fuel High-Yield Bond Market Selloff
Chris Dieterich – MoneyBeat – WSJ
As the high yield bond market went into a free-fall this Spring, some in the market pointed to exchange traded funds as fueling the sell-off. But BlackRock, the biggest U.S. provider of exchange-traded funds is continuing its defense of ETFs.
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When market movers are the index makers
John Authers – FT.com
Who has the power to move markets? Often some unlikely candidates. As everyone learnt during the global financial crisis, rating agencies had been given too much power. This was the side-effect of regulations that placed limits on the bonds that banks or fund managers could hold, based on their ratings. The result was to outsource due diligence to the agencies. This put far more weight on the opinion of one or two analysts than they were ever designed to bear.
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Six New db X-Trackers Bond Index ETFs Launched On Xetra – First ETF On Canadian Dollar Repo Rate
jlne.ws/16x1Qwd
S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices – The Annual Review Of The S&P/TSX SmallCap Index
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NASDAQ OMX: Annual Changes To The PHLX Semiconductor Sector Index
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Technology
Omgeo Completes Oasys-to-CTM Client Migration Amid Growth
James Rundle – WatersTechnology
Global vendor Omgeo has announced that it has completed the migration of clients from its legacy Oasys platform to Omgeo Central Trade Manager (CTM), as it also touted the addition of 220 investment and broker-dealer clients in 2013 to date.
jlne.ws/16x1OnY
Bank of America Merrill Lynch Joins SWIFT’s JASDEC Early Adopter Programme – Strong Support From Key Customer As Community Test Period Starts
SWIFT, the financial messaging provider for more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories, today announced at Sibos that Bank of America Merrill Lynch has joined its Early Adopter Programme for the Japan Securities Depository Centre (JASDEC), the country’s central securities depository.
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Genpact and Markit to Create First Centralised Client Onboarding Solution for the Capital Markets
Genpact Limited, a global leader in transforming and running business processes and operations and Markit, a leading global financial information services company, today announced a partnership to develop the first centralised service for end-to-end management of client onboarding and other know-your-customer requirements in the financial markets.
jlne.ws/16x1Qwh
S&P Capital IQ Partners With Arista Networks To Further Enhance Its Direct Market Access Technology
jlne.ws/16x1Oo4
FIX Trading Community Publishes Updated Guidelines To Facilitate Cost Effective And Efficient Connectivity To Emerging Swap And Bond Trading Platforms
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Enforcement
Firm That Broke the Buck in 2008 Fails to Reach SEC Deal
Bob Van Voris – Bloomberg
A tentative settlement between Reserve Primary Fund, the $62.5 billion money-market fund that “broke the buck” and failed in 2008 when its net asset value fell below $1, and the Securities and Exchange Commission has fallen apart, according to a lawyer for the firm.
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SEC denies rejecting settlement over money fund that ‘broke the buck’
Reuters
The U.S. Securities and Exchange Commission denied Saturday that the commission had rejected a proposed settlement with managers of a large money market fund that “broke the buck” during the 2008 financial crisis, saying their negotiations never reached that point of consideration.
jlne.ws/16x1QMA
Lawsky Ramps Up Investigation of Consultants
Shayndi Raice – MoneyBeat – WSJ
New York’s top financial regulator has sent subpoenas to consulting firms PricewaterhouseCoopers and Promontory Financial Group over their work for banks involved in money laundering investigations, according to people familiar with the matter.
jlne.ws/16x1Ooa
SEC Charges Operator of Miami-Dade County’s Largest Hospital With Misleading Investors About Financial Condition
The Securities and Exchange Commission today charged the operator of the largest hospital in Miami-Dade County with misleading investors about the extent of its deteriorating financial condition prior to an $83 million bond offering.
jlne.ws/16x1QMB
SEC Charges Purported Money Manager in New York Who Schemed Investors and Lied to SEC Examiners
The Securities and Exchange Commission today charged the owner of a New York-based investment advisory firm with defrauding investors while grossly exaggerating the amount of assets under his management.
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NFA Regulatory Actions: Edward Thomas Trading Co. and Edward Thomas Gomes
jlne.ws/16x1QMG
NFA Regulatory Actions: QFC LLC and Rylan Peters
jlne.ws/16x1QMK
NFA Regulatory Actions: Alternative Capital Advisors LLC and Thomas Allen Chavez
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[AMF Canada] Universitas Foundation of Canada fined $15,000
jlne.ws/16x1RjF
Environmental & Energy
Global sigh after an Aussie carbon cop out
Reuters
Australia’s proposal to ditch cap and trade market in favour of a weakened scheme follows reduced or abandoned carbon markets in Europe and the United States and does not bode well for planned schemes around the world.
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Success of Germany’s renewable energy experiment comes at a cost
Financial Times
In the idyllic southern Bavarian community of Wildpoldsried, 2,600 villagers are diligently playing their part in a bold experiment in German renewable energy generation, known as the Energiewende.
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**RKB — More coverage in Power section.
Wall St. Exploits Ethanol Credits, and Prices Spike
The New York Times
It was supposed to help clean the air, reduce dependence on foreign oil and bolster agriculture. But a little known market in ethanol credits has also become a hot new game on Wall Street.
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Asia-Pacific
China’s Dalian Exchange gets approval for iron ore futures
Reuters
Dalian Commodity Exchange has received regulatory approval to launch China’s first iron ore futures, the latest salvo in the battle to control benchmark pricing of the world’s second largest traded commodity.
jlne.ws/16x1R34
Japan’s Big Lenders
Enda Curran – MoneyBeat – WSJ
For Japanese banks, it’s back to the future. Lenders from the country have emerged as the biggest source of cross-border loans for the first time since the late 1980s, according to a new report from the Bank for International Settlements.
jlne.ws/16x1R36
Shanghai Free-Trade Zone Sparked Excitement but Is Short on Specifics
SHEN HONG – WSJ.com
Enthusiasm over China’s plans for a free-trade zone in Shanghai has reached fever-pitch levels, with stocks connected to the project rallying heavily, but officials are staying mum on details, and major stumbling blocks remain.
jlne.ws/16x1RjN
HKEx Announces Temporary Holiday Risk Management Arrangements
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Thai Bourse Market Report For August 2013
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Frontier Markets
Foreign issuers lobby Turkish government to change structured products regulation
Jonathan Lopez – Risk.net
Turkey’s two-tier structured products market is placing foreign banks at a disadvantage, and these banks are now putting pressure on the country’s government to change the regulations so they can compete on an equal footing.
jlne.ws/16x1RjQ
Islamic pensions make inroads among asset managers
Reuters
Islamic pensions are making inroads in several majority-Muslim countries, and their success may help the growth of asset management industries across much of Asia and the Middle East.
jlne.ws/16x1R3b
The Egyptian Exchange: Becoming A Self-Regulated Institution Is EGX’s Focus In The Coming Phase
jlne.ws/16x1R3c
Welcome to Sibos 2013 in Dubai
Financial News
Welcome to Sibos 2013 in Dubai, the 10th year that Financial News has produced daily newsletters from the conference.
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Calypso Technology Opens Office In Dubai
Capital Markets Technology Leader Launches New Premises In The UAE To Service Middle Eastern Clients And Markets
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