GLG News by Mr. Patrick Young, Founder and Chairman
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
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BATS Beats Turquoise, Europe's MTFs Look More Volatile Than Ever Under Mifid
March 26, 2009
BATS Europe Passes Turquoise In Market Share, Sets Numerous Volume Records | www.mondovisione.com
The fact that Turquoise has lost its shareholder market makers has caused its volume to slump, allowing upstart (and US 500lb gorilla) BATS Europe to leap ahead in market share. Takeovers by legacy exchanges now look more likely than ever.
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NASCAR Retains A Super Brand But In An Expensive Domain
March 25, 2009
Turner Revs Up Original Nascar Web Series | www.mediaweek.com
NASCAR has become the most successful motorsport brand in the USA. However, other series are suffering massive financial issues as sponsors drop out in the current economic climate and experts point to a drop in US motorsport sponsorship in 2009.
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Adair: FSA Will Be Tougher But Not As Tough As Some?
March 20, 2009
London will remain key financial centre as light-touch regulation ends, Turner insists | www.telegraph.co.uk
The Turner Report hints that the UK FSA may get tough but not really that tough, or at least, they are going to leave the being really tough bit to other jurisdictions...
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Moscow Exchange Makes An Eastern Advance
March 19, 2009
The UB Post-Leading English News - Mongolian and Russia Taking Stock in Each Other | ubpost.mongolnews.mn
MICEX and RTS are clearly competing in Russia's securities market but now MICEX are looking to tie up some overseas opportunities at some distance to their Moscow base.
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Polish Government Hit The Right Note With IMF
March 19, 2009
Poland needs no IMF credit, wants to lend to IMF-finmin | www.forbes.com
Polish Finance Minister Jacek Rostowski pulls another excellent stroke in his efforts to demonstrate that Poland may be surviving in the face of a pan-western ignorance about the granular differences of CEE and SEE economies.
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ICE Makes A Sound CDS Clearing Start
March 19, 2009
Intercontinental Clears $7.15 Billion in Credit Swaps (Update2) - Bloomberg.com | www.bloomberg.com
The ICE CDS facility is open for business and even has business to transact! - That's an interesting development in the CDS market and one which will leave competitors such as CME, EUREX and LIFFE somewhat green with envy.
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Serbian Wisdom May Not Make Much Impact On The West
March 19, 2009
Serbian bank chief attacks reliance on EU | www.ft.com
Serbia's Central Bank Chief correctly ruminates on EU reliance while observing the need for internal economic reform that often citizens are more comfortable with than the political classes.
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BATS Looks To Mifid Europe As a New MTF Playground
March 18, 2009
BATS Goes Live With AboveNet - Pan-European Trading Platform Partners With AboveNet For Fast, Secure Connectivity In The UK | www.mondovisione.com
BATS went rapidly from zero to hero in the crowded US MTF marketplace. Now it is seeking to replicate this success within the european Mifid marketplace.
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NYSE Arca Europe Joins A Crowded Field Fighting For Less Volume
March 10, 2009
NYSE Euronext launches new Europe trading platform | www.dealingwithtechnology.com
NYSE Arca Europe may have gallopped into the market at just the wrong moment to see a major breakthrough as volumes decline in European equities.
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Sprecher's ICE opens the way to A "Closed" Clearing of CDS
March 9, 2009
Bloomberg.com: ICE Starts Credit-Default Swap Clearing in Bid for $400 Million | www.bloomberg.com
Intercontinental Exchange (ICE) has muscled its way to the forefront of the CDS clearing issue as a result of their classic opportunistic streak. Their solution may have the dge over other competitors not just as a result of early regulatory permission but also thanks to its more exclusive business model.
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TMX: Bertrand Departs - another Shock departure of a Successful Manager
March 5, 2009
Luc Bertrand To Step Down From His Position With Montreal Exchange And TMX Group On June 30, 2009 - Alain Miquelon Named As MX President And Chief Executive Officer Effective July 1, 2009 | www.mondovisione.com
Luc Bertrand standing down as the head of M-X and deputy at Toronto SE is a shock move given that it was Bertrand's success at M-X that helped rejuvenate the Canadian exchanges in the first place!
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TMX: Bertrand Departs - another Shock departure of a Successful Manager
March 5, 2009
European Commissioner Charlie McCreevy Welcomes Industry Commitment To EU Central Counterparty For CDS | europa.eu
Luc Bertrand standing down as the head of M-X and deputy at Toronto SE is a shock move given that it was Bertrand's success at M-X that helped rejuvenate the Canadian exchanges in the first place!
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UBS: Villiger and Grubel To Sweep Away the Kurer/Rohner/Ospel Legacy
March 4, 2009
UBS Chairman to Step Down | online.wsj.com
The appointment of Kaspar Villiger as Chairman of UBS marks a clear intention of "Switzerland Inc" to assert control over the bank & future banking regulatory changes.
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Chi-X Chief In Shock Departure
February 26, 2009
Financial Times FT.com | www.ft.com
Successful MTF Chi-X has been largely shaped by its CEO Peter Randall. His departure is a remarkable move given his success in making CHi-X a leading ATS not only in Europe but various other jurisdictions too.
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Ossie Grubel - A Man For All Seasons & All Swiss Banks?
February 26, 2009
Financial Times FT.com | www.ft.com
Oswald Grubel is a fascinating pair of safe hands for UBS at a time of turmoil. Yet the move represents a risk to Grubel whose reputation upon retirement as Credit Suisse CEO was simply outstanding.
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Eastern Europe: A Mecca for Retail Property Investment?
February 25, 2009
Central and Eastern Europe is target for cross border retailer movement | www.europe-re.com
The Central and Eastern European property market remains unsophisticated compared to the west with ample opportunities for eager investors. However, current economic events provide both high risks and potentially high rewards...
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February 19, 2009
European Commissioner Charlie McCreevy Welcomes Industry Commitment To EU Central Counterparty For CDS | europa.eu
The industry looks to have "blinked" under pressure from their governments (or sponsors depending on how one views the situation) amidst a threat of EU legislation.
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Sorting The Wheat From the Chaff
February 19, 2009
Failure to save East Europe will lead to worldwide meltdown | www.telegraph.co.uk
The marketplace is sufficiently spooked that we are at the point where facts are routinely mistaken or misrepresented to demonstrate just how desperate problems are...
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Live and Happening All Around Me - A Genuine Panic Exodus
February 18, 2009
Downgrades Loom for Hungary, Poland, Bond Yields Show | www.bloomberg.com
The Market has taken fright of the Eastern European marketplace and all assets, with little regard to their fundamentals, are collapsing... In other words, ladies and gentlemen, it's a genuine triple A panic exodus.
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February 18, 2009
Bloomberg TV Tries To Become A Player | www.cbsnews.com
Bloomberg TV is a studious but dull product suffering from a certain lack of focus on just whether it wants to be in mass market financial television or a specialist digital arm of the news and data vendor.
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