Market structure dominates this week’s podcast as Colin Lambert goes to town on the SEC’s refusal to grant Cboe permission to implement a speed bump (and along the way take a few pops at the equity market structure of course), before touching upon news that the LSE-Refinitiv deal may be delayed and what that means […]
This week’s podcast sees Colin Lambert and Galen Stops respond to listener feedback from recent episodes before turning their attention to events in the FX market last week – and the return of volatility. With the trade war and central bank surprises suddenly kicking FX markets into life Lambert is intrigued to see if the […]
In this week’s podcast, Colin Lambert and Galen Stops take a look at the first in-depth analysis from a broker of the CME-NEX deal and while they accept that much of what was written was already known and had been discussed there were a few nuggets of useful information in there.
On the subject of mergers and acquisitions, they also discuss the recent changes at Refinitiv and clarify their thoughts on potential M&A activity involving that firm’s Matching, Dealing and FXall businesses. Will firms be willing to splash the amount of cash required to complete such a deal? Who would be the best buyers for the combined business or elements thereof? This and more is discussed.
In a quite remarkable conclusion, they close out by expressing sympathy for a regulator – something unlikely to ever happen again – before Lambert offers listeners the benefit(?) of his experience of trading Cable with a trading recommendation as the Brexit saga continues…what could go wrong?
I’ve spent too much time for anyone’s good on US legal and regulatory matters recently so, apart from saying that having listened to the oral arguments for Mark Johnson’s bail case I am much more optimistic about his appeal – the government’s case does appear to be at best careless, at worst misleading – I want to get into a regular staple of this column, the rumour mill!
It is inevitable when a deal gets done in the platform world, especially when it involves an exchange, that we inevitably look for the next deal.
There was a fair amount of chatter about the future of Icap (soon to become ‘Nex’) at the recent Profit & Loss Forex Network Chicago conference, with much of it centering around likely purchasers of the company once it sells its global wholesale broking and information business (IGBB) to Tullett Prebon.
“The other broader question hanging around the firm as it transitions into Nex is whether [CEO Michael] Spencer is priming the new entity for a sale,” Profit & Loss noted in an article published prior to the conference last month.
It seems that many of the attendees of Forex Network Chicago had, in their own minds at least, decided that the answer to this question was that the firm is indeed up for sale. The speculation then turned to who would be interested and able to buy the firm.