First Read

Hirander Misra, CEO GMEX – Exchange Innovation: The Need to Think Outside the Box
JohnLothianNews.com

“The key to that is how technology is used. All too often in the exchange space, we’ve been doing the same thing we’ve essentially been doing for many many years and we haven’t really seen a change.”

Hirander Misra, CEO of GMEX, compares the business model of Netflix and Blockbuster to the exchange space. Misra discusses how technology helped fuel the progress of Netflix and allowed it to overtake Blockbuster in movie rentals. He also touches on the dilemma innovators face in the exchange space due to new regulation, and how it causes disruptions for innovation. Misra says that the existing model is far from optimum from a product and technology standpoint, and he addresses how GMEX addresses adapting the model with new innovation. His key takeaway is that technology is not useful unless it has the proper business model, and that it will take fresh ideas to let the old ways disappear and let new innovation thrive.

Watch the video »

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ICE to Start Yuan, Commodities Futures in Singapore
By Chanyaporn Chanjaroen, Bloomberg
Intercontinental Exchange Inc. (ICE) will start its first five futures contracts to be listed and cleared in Singapore next year, including products on the Chinese currency, Brent crude and gold.
jlne.ws/1yKtORW

***** ICE makes news in Singapore during FIA Asia and it is not even the biggest story, the SGX glitch takes the prize.

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SGX Head Bocker Says Sorry as Regulator Slams Second Disruption
By Adam Haigh and Joyce Koh, Bloomberg
Singapore Exchange Ltd. (SGX) suffered its second trading disruption in less than a month, prompting Chief Executive Officer Magnus Bocker to apologize to investors and brokers amid criticism from the financial regulator.
jlne.ws/1yhhMN7

***** It is a good thing this is not a caning offense.

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SGX securities market commenced trading at 1230hrs
SGX
SGX securities market commenced trading at 1230 hrs as scheduled, with pre-open routine at 1200hrs. The market will stay open till 1700 hrs and close as per normal.
jlne.ws/1vmt9pV

***** It is a good thing I decided not to go to Singapore for FIA Asia. I would probably get the blame.

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Record Day In Euronext Milling Wheat Commodities
Euronext
Euronext, the leading exchange in the Eurozone, today announced on 2 December that its commodities franchise achieved record daily volumes in milling wheat futures with 88,194 contracts traded and, simultaneously, record daily volumes in milling wheat options with 45,949 contracts traded on 2 December 2014. On the same day a new total daily volume record for Euronext commodity derivatives was also reached, with 146,222 contracts traded.
jlne.ws/1zPOfMA

***** Euronext is grinding out records and innovations. Keep your eye on them.

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Stefani Sandow, product manager, Trading Technologies – What Vitruvius Can Teach Us About Software Development
JohnLothianNews.com

“If you’re interested in getting into financial software, you should remember Vitruvius. You should create software that is solid, that is useful, that is delightful.”

Stefani Sandow, product manager at Trading Technologies, shows the relationship between the Roman architect Vitruvius and software development. She discusses three key concepts of Vitruvius’s teachings, Firmitas, Utilitas and Venustas, which translates to Solid, Useful and Delightful. Sandow stresses the importance of the user experience and how developers should be paying close attention to the design and interface of the software as well as its functionality. Finally, Sandow concludes by discussing the future of trading software design and function.

Watch the video »

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Sentinel ex-CEO may face 20 years in prison
By Lynne Marek, Crain’s Chicago Business
Federal prosecutors called the ex-CEO of collapsed money manager Sentinel Management Group an “unrepentant con man” and recommended he be sentenced to at least 20 years behind bars and repay $665.9 million to victims of his fraud. Bloom, 49, is free on bond for now and expected to be sentenced Dec. 8 by U.
jlne.ws/12sQjjq

***** Lynne Marek gets the scoop on the latest from Sentinel.

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How big-company incubators tap into the innovation ecosystem
By Kate MacArthur, Chicago Tribune
More corporations are teaming with startups to boost their own research and development. This in turn can help the new businesses prove and grow their concepts. Here’s what leaders of Chicago and Illinois organizations told us in earlier interviews about the benefits of their incubator programs. Mark G. Fields, CME Group’s managing director-strategic investment group, on how its venture fund called Liquidity Ventures 1 enables investments in tech startups:
jlne.ws/1rX4nYi

**** CME Group gets some nice press from the Chicago Tribune, whom I did not know, knew of the CME.

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London Streets Paved With Platinum in $6 Billion Push by Veolia
By Tara Patel, FT
Veolia Environnement SA (VIE) is sweeping Britain’s streets for the platinum and other precious metals that can be sifted from the grime. The French waste and water company built a factory at Ling Hall in Warwickshire to extract rare metals blown out of vehicle exhaust filters and onto roads and sidewalks. It stumbled upon this “urban mining” after sorting refuse to try to reduce waste sent to landfills, Estelle Brachlianoff, U.K. and Ireland executive vice-president, said yesterday in Paris.
jlne.ws/1tDHNoi

***** Now this is innovation.

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News organisations ‘go native’ to find new source of ad revenue
Robert Cookson, Digital Media Correspondent, FT
At first glance, it looks like a typical news story on the Mail Online website: “Beaten and starved, 40-year-old man kept as a slave in ‘concentration camp’ conditions FINALLY sees his captors brought to justice”. From the bold headline to the punchy writing interspersed by images, the article bears all the site’s usual hallmarks.
jlne.ws/1yfaG0O

***** Yes we do and yes you can contact Doug Ashburn about it.

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FIA’s Eighth SEF Tracker Released
Futures Industry Assoication
Trading Volumes Now Available from January through September
jlne.ws/1vmCSg6

***** This dog can hunt.

MarketsWiki

MarketsWiki Page of the Day
Wedbush Securities, Inc.

MarketsWiki Recent Updates

People

Michael E. Cahill; Daniel Coleman; Chuck Bohm; Dax Rodriguez; Jerald David; Eric Litvack

Companies, Organizations and Groups

OCC; KCG Holdings, Inc. (KCG); Wedbush Securities, Inc.; KCG Futures

Products

Miscellaneous

Market manipulation

Statistics

55.803,921 pages viewed, 8,098 articles, 187,223 edits
MarketsWiki Statistics

Lead Stories

CME raises offer for GFI to fend off rival bid
Philip Stafford, FT
CME Group, the US futures exchange operator, has raised its offer to shareholders to buy GFI Group, the interdealer broker, and fend off a rival offer from BGC Partners.
jlne.ws/1tDEZrh

CME Group and GFI Group Announce Revised Offer for GFI Group Stockholders
CME Group
– GFI Group Stockholders To Receive $5.25 per GFI Group Share in Mix of CME Group Stock and Cash
– Private Consortium of GFI Group Management to Increase Cash Payment for GFI’s IDB Business to $254M from $165M Plus the Assumption at Closing of Approximately $72M in Unvested Deferred Compensation Liability to Employees, for a Total Consideration of $326M Plus the Assumption of Additional GFI Group Liabilities and Other Commercial Guarantees
jlne.ws/1HZkleF

Hedge Funds Urged to Beat Benchmarks Before Charging Fees
By Saijel Kishan, Bloomberg
Hedge fund investors are catching up with their private-equity peers. Five years after clients of leveraged buyout firms released a set of best practices for the industry, hedge fund clients are following suit.
jlne.ws/11Tr7ll

Completion of Acquisition
London Stock Exchange Group
London Stock Exchange Group plc (“LSEG” or the “Group”) is pleased to announce that following satisfactory completion of all outstanding conditions, the Group has today completed the acquisition of Frank Russell Company (“Russell”).
jlne.ws/1CEPrYX

London Stock Exchange Group launches pan-European ELITE programme
London Stock Exchange
High growth private companies from across Europe invited to join exclusive programme
ELITE fast-tracks the development of businesses giving them access to advisors, investment and education
More than 200 companies in Italy and the UK already ELITE businesses
London Stock Exchange Group (LSEG) today announces that it is to extend ELITE, its pioneering programme for high growth private companies, to businesses across Europe.
jlne.ws/1ziHnr7

Farmers Foil Investors That Bet on Corn, Soybean Price Drop; Crops Are Hoarded Until Prices Rise High Enough to Sell
By Jacob Bunge And Jesse Newman, WSJ
Dec. 2, 2014 5:07 p.m. ET
Illinois farmer Darrel Gingerich harvested a huge corn crop this autumn thanks to near-flawless weather. Now, he is stashing it away. “I didn’t sell any more than we had to in order to cover our costs for this year,” the 53-year-old said.
jlne.ws/1tMcs1V

Wall Street Called Out by Regulators for Stalling on Swaps Rule
By Jesse Hamilton and Silla Brush, Bloomberg
U.S. regulators are getting fed up with Wall Street’s attempts to stall a restriction on risky swaps trades.
jlne.ws/1FMkXQY

Mikhail Gorbachev accuses US of stoking ‘new Cold War’
Tom Parfitt in Moscow and Roland Oliphant in Kiev, The Telegraph
Mikhail Gorbachev has claimed that American “triumphalism” is stoking a new Cold War and called for “avid militarists” to stop dragging Europe into conflict.
jlne.ws/1wqKe3t

Conspiracy theories spike as crude oil prices slump
Shishir Asthana, Business Standard
Every time the price of crude oil breaches a crucial mark, a new set of conspiracy theories hit the market. With crude oil falling below the $70 marks after OPEC decided not to cut production, more such stories are making the rounds.
The most popular one doing the rounds is that Saudi Arabia is targeting US shale oil production by preventing them from entering the market. A diagonally opposite story in the market is that the US and Saudi Arabia have teamed up to keep oil prices low in order to hit Russia and Iran, both of whom need higher oil prices to balance their budgets. The latest is that recent advances by the Islamic State of Iraq and Syria (ISIS) is forcing the Saudis to co-operate with the Americans to keep oil prices low as the terrorist organization is using oil money to fund its wars. This last theory even finds a mention in the research report of a renowned international broker.
jlne.ws/11TsZum

Opinion: Cheap oil may mean regime change for foes of the U.S.
By Martin Feldstein, MarketWatch
Leaders in Russia, Iran and Venezuela could lose popular support if energy prices bring down their economies
jlne.ws/12sLlDn

Opinion: OPEC is wrong to think it can outlast U.S. on oil prices
By Tim Mullaney, MarketWatch
Technology is cheaper and West doesn’t use oil to fund a welfare state
jlne.ws/1vmgDH2

Banker blowback; Liberals plot to block Obama’s treasury nominee.
By Ben White
NEW YORK — In a sign of their increased determination to shape both the national debate and the future of the Democratic party, top liberals are coalescing around a campaign to derail President Barack Obama’s nominee of a top Wall Street investment banker for a senior administration job, setting up a showdown with moderates of their own party.
jlne.ws/1pTcQAc

Regulatory

Singapore regulator demands review after SGX software glitch
Josh Noble in Hong Kong, FT
The Monetary Authority of Singapore has ordered the city-state’s stock exchange to conduct a “thorough review” after a trading glitch led to a delay in opening the market on Wednesday.
jlne.ws/1BcYCyj

CFTC slammed for using ‘ancient’ position limits data
Risk.net
Energy firms are criticising the CFTC’s proposed rule on commodity derivatives position limits under Dodd-Frank, saying it relies on decades-old data to set spot-month limits The US Commodity Futures Trading Commission (CFTC) is facing criticism from energy companies and other end-users of commodity derivatives for relying on what critics call “ancient” market data in its proposed rule on speculative position limits. The rule, one of the most controversial pieces of regulation to emerge from the US Dodd-Frank Act, was proposed…
jlne.ws/1tM9Z7v

Millions lost to conmen posing as banks
David Budworth, The Times
Cold-calling fraudsters who impersonate legitimate organisations such as banks conned people out of £23.9 million in the past year, a threefold increase on the £7 million lost to telephone scams in the previous 12 months.
jlne.ws/1rX3bUN

FINRA Responds to SIMFA’s Latest Critiques of Proposed Data System
Think Advisor
Industry groups cite further concerns with second version of CARDS, which FINRA insists it will address
jlne.ws/1FNyqKj

Breaking News: No more credit card deposits to FX firms in the US after January 2015
By Andrew Saks-McLeod, Leaprate
As of January 31, 2015, retail FX customers in the United States will no longer be able to fund their accounts by credit card as the NFA’s proposals have been accepted by the CFTC, with deposits by electronic methods such as Paypal also excluded.
jlne.ws/1yeZUYe

U.S. SEC What’s New
Forum National Investments, Ltd. (Release No. AP-2075; File No. 3-16283)
Sands Brothers Asset Management, LLC, et al. (Release No. AP-2074; File No. 3-16223)
Ryan C. King (Release No. AP-2073; File No. 3-15736)
Bluesky Filing Corp. et al. (Release No. AP-2072; File No. 3-16273)
8 by 8, Inc. et al. (Release No. AP-2071; File No. 3-16222)
Vinay Kumar Nevatia (Release No. LR-23145)
Eaton Vance Management, et al. (Release No. IC-31361; File No. 812-14139)
MSRB: Notice of Filing of a Proposed Rule Change Consisting of Proposed Amendments to MSRB Rules G-1, on Separately Identifiable Department or Division of a Bank; G-2, on Standards of Professional Qualification; G-3, on Professional Qualification Requirements; and D-13, on Municipal Advisory Activities (Release No. 34-73708; File No. SR-MSRB-2014-08; December 1, 2014); see also Exhibit 5, Exhibit 2
MSRB: Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Consisting of Amendments to MSRB’s Electronic Municipal Market Access (EMMA) System to Add Disclosures Related to Municipal Asset-Backed Securities (Release No. 34-73707; File No. SR-MSRB-2014-09; December 1, 2014); see also Exhibit 5
NASDAQ: Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Modify NASDAQ Rule 7001(c) (Release No. 34-73705; File No. SR-NASDAQ-2014-118; December 1, 2014)
NYSE Arca: Order Instituting Proceedings to Determine Whether to Approve or Disapprove Proposed Rule Change Relating to Listing and Trading of Shares of Eight PIMCO Exchange-Traded Funds (Release No. 34-73706; File No. SR-NYSEArca-2014-89; December 1, 2014)
OCC: Notice of Withdrawal of an Advance Notice Concerning Enhancements to the Risk Management Framework Applied to the Clearance of Confirmed Trades Executed in Extended and Overnight Trading Sessions (Release No. 34-73710; File No. SR-OCC-2014-805; December 1, 2014)
jlne.ws/1eCTnOv

Statement of Commissioner Sharon Y. Bowen Regarding the CFTC’s Reopening the Comment Period for Position Limits Rulemaking
CFTC
I support this reopening of the comment period for our position limits rule. As I’ve previously said, this is a key rule and we are well-served by giving stakeholders another chance to comment.
jlne.ws/1yeYI7l

Exchanges & Trading Facilities

Euronext Announces Monthly Trading Volume For November 2014
Euronext
Amsterdam, Brussels, Lisbon, London and Paris – 3 December 2014 – Euronext, the leading exchange in the Eurozone, today announced trading volumes for November 2014.
jlne.ws/1rTbpTv

Intercontinental Exchange Sets February 5 for Fourth Quarter 2014 Earnings Announcement
ICE
Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, will announce fourth quarter 2014 financial results on Thursday, February 5, 2015. An earnings press release will be issued prior to the earnings conference call, which will begin at 8:30 a.m. ET.
jlne.ws/1rTcECq

Intercontinental Exchange Reports ICE and NYSE Volume for November 2014; Natural Gas ADV up 19% year on year
ICE
Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, today reported monthly exchange traded volumes.
In November, futures and options average daily volume (ADV) declined 14% and cash equities ADV increased 9% over the prior November.
jlne.ws/1yhibix

CME Group Advisories
IRS Production Advisory for USD Data Refresh
REGULARITY APPROVAL FOR ALUMINUM
Approved Application for Soybean Meal Regularity
Approved Application for Increase in Soybean Meal Regularity
Approved Application for Increase in Soybean Oil Regularity
Approved Application for Increase in Soybean Oil Regularity
Approved Application for Increase in Rough Rice Regularity
Approved Application for Wheat Regularity
Approved Application for Increase in Wheat Regularity
CDS Production Advisory – New CME CDS Margin Model Release into Production
Amendments to Heifer Delivery Affidavits for the Live Cattle Futures Contracst
Effective Dates for Spot Month Position Limits in January 2015 Core Contracts
CBOT Announces Launch of Treasury Invoice Swaps
jlne.ws/vxNKY5

Eurex Repo outstanding volume down in November
Securities Lending Times
Eurex Repo, which operates GC Pooling, Euro Repo and Swiss Franc Repo markets, reported an average outstanding volume of EUR202.1 billion in November 2014.
jlne.ws/1wqL549

Canada’s derivatives market poised for more growth, new report shows
Barbara Shecter, Financial Post
Canada’s listed derivatives markets are poised to benefit significantly from global and domestic trends, according to a new report from TABB Group to be released Tuesday.
In the first 10 months of this year, options open interest increased by 20%, while futures open interest increased by 10%, according to the research and consulting firm based in New York and London.
jlne.ws/1pSSHKo

Mexico exchange names Sacristán as new head
Jude Webber in Mexico City, FT
Also on Tuesday, Bolsa Mexicana de Valores (BMV) said it had done its first deal on Mila, a new pan-Latin American exchange.
jlne.ws/1yjUKsV

Direct Edge Trading Notice #14-58: BATS Weekend Test Opportunity for New EDGA and EDGX Exchange Platforms in NY5 on December 13, 2014
BATS is pleased to offer Members the opportunity to participate in the third of four weekend tests of the new EDGA Exchange and EDGX Exchange trading platforms located in Equinix NY5 data center in Secaucus, NJ on Saturday, December 13, 2014. All symbols and functionality normally available in production will be made available for these weekend tests.
www.bats.com/us/equities/edge_integration/

LME chief tech officer Robin Paine leaves firm
By Luke Jeffs
The LME has outlined a number of technology projects in recent months
jlne.ws/12mN7oz

Mini-SPX (XSP) – Recent Record Highs for Index and for Options Open Interest
By Matt Moran
In November 2013 CBOE launched Mini-SPX (ticker XSP) options with PM-settlement, and, as shown in the chart below, the maximum open interest for the XSP options has grown in all 12 months since the contract launch.
jlne.ws/1ygg0zI

Boerse Stuttgart reports November turnover in region of EUR 6.4 billion
Substantial year-on-year increase in November turnover within ETP segment // Total turnover since January on a par with 2013
Based on its order book statistics, Boerse Stuttgart turned over around EUR 6.4 billion in November 2014. Although this was down on the figure for October, which was a particularly strong month, total turnover since January was nevertheless on a par with the previous year at around EUR 81 billion.
www.boerse-stuttgart.de

Hedge Funds & Managed Futures

ASIC ‘absolutely appalled’ by state of financial planning industry
The Australian
THE state of the financial planning industry is “absolutely appalling” with the sector repeatedly failing to lift its game despite constant pressure to do so, the head of the corporate watchdog has said.
jlne.ws/1vmtzwD

Cocoa Butter Price Fall Eases AAK’s Chocolate Demand Risk
By Niclas Rolander, Bloomberg
AAK AB (AAK), the 143-year-old Swedish supplier of fats to the chocolate industry, said the recent decline in cocoa-butter prices could protect chocolate demand after soaring costs started posing a threat to consumption.
jlne.ws/1rX0hzu

Top Independent Adviser With $3.5 Billion Once Lived on Credit
By Margaret Collins, Bloomberg
When Debra Wetherby started her investment advisory firm in 1990, she was 32, just married and had less than $50,000 of capital.
jlne.ws/15OKhuO

Pimco Slows Rush of Cash Out the Door; Outflows Mark Slowdown in Investors Pulling Out of Fund
By Kirsten Grind and Gregory Zuckerman
Two months after Bill Gross quit Pacific Investment Management Co., the giant Pimco Total Return bond fund that he managed for 27 years is showing signs of stabilizing.
jlne.ws/1yNSiL8

Fall of the Bond King: How Gross Lost Empire as Pimco Cracked
By Mary Childs, Bloomberg
Bill Gross, the 70-year-old king of bonds, rushed through the offices of his $2 trillion empire on a Friday morning distributing hand-written notes. He knew his reign was over.
jlne.ws/1viVuZr

Vale eyes $14bn base metals spin-off
Samantha Pearson in São Paulo, FT
Vale is weighing a spin-off worth up to $14bn of part of its base metals division as slumping iron ore prices force the Brazilian miner to focus on its core business.
jlne.ws/1yf0O73

Banks & Brokers

Morgan Stanley scores audacious $4.7bn ‘deal steal’
Jennifer Hughes in Hong Kong, FT
Morgan Stanley is being credited with the most audacious “deal steal” seen in years by Hong Kong bankers after its last-minute snaffling of a $4.7bn placement Goldman Sachs and Credit Suisse thought they had sewn up.
jlne.ws/1vmdTJH

Citigroup Panicked Over Fraud at Chinese Ports: Mercuria
By Kit Chellel, Bloomberg
Citigroup Inc. (C) was in a “state of panic” when alleged fraud was uncovered in two Chinese ports, Mercuria Energy Group Ltd.’s lawyer said as a London trial over disputed metal finance deals got underway.
jlne.ws/1yk0RgL

BNY Mellon Is Latest Firm to Yield to Activist Investor; Bank Gives Nelson Peltz’s Trian Fund a Seat on Board
By David Benoit, WSJ
Bank of New York Mellon Corp. , the nation’s oldest bank, gave Nelson Peltz ‘s investment firm a seat on its board, joining a raft of companies that have recently opened the door to activists and headed off bruising public fights.
jlne.ws/1FNAlyt

Emails About Loans Plague Credit Suisse; Investor Alleges Bank Improperly Inflated Value of Properties
By Joseph Checkler And Patrick Fitzgerald, WSJ
Old emails may be coming back to haunt Credit Suisse over real-estate deals done before the financial crisis.
jlne.ws/1ziwrtt

Citigroup to close LavaFlow trading venue
Philip StaffordAuthor alerts, FT
Citigroup is to shut down the private trading venue that was fined by US regulators earlier this year as the bank
jlne.ws/1HZagOV

Clearing & Settlement

Saheed Awan resigns from Euroclear
Securities Lending Times
Saheed Awan has resigned from his position as global head of collateral management services at Euroclear.
jlne.ws/1wqLd3E

DTCC and FS-ISAC launch cyber threat “beacon” system
Banking Technology
A platform for sharing cyber-security threat intelligence among financial services companies has been launched by US post-trade utility the DTCC and non-profit security organisation FS-ISAC. Called Soltra Edge, the platform gathers data about cyber-security threats and converts it into a standardised format for sharing.
jlne.ws/1pSXRX5

Indexes & Products

LGIMA Eyes Strategic Growth Opportunities; Launches US Index Fund Business
New Unit Further Expands US Footprint, Product Offering Brings Local Presence with Global Reach to the Institutional Market
CHICAGO – December 2, 2014 – Legal & General Investment Management America, Inc. (LGIMA), a Chicago-based registered investment advisor, announced the official launch of its US index fund management business. As part of a broader strategic growth plan, the new unit builds on the capabilities and management strategies already provided for the US pension and institutional markets while expanding on its core fixed-income and liability-driven offerings.
www.lgima.com

Technology

News Brief: SunGard Earns Leading Industry Analyst Accolades for Liquidity and Credit Risk
SunGard Financial Systems
SunGard has earned a place as a category leader in the Chartis RiskTech Quadrant® for Liquidity Risk Management Systems. The report assesses leading firms in the liquidity risk management space, based on a number of factors including functional coverage, stress testing, geographical reach and strategy.
jlne.ws/1vNcJWh

Calypso Technology Inc. Establishes A Managed Service Centre In Dublin, With The Creation Of 150 Skilled Roles
MondoVisione
Minister Bruton today announced that Calypso Technology, a leading provider of capital markets software solutions, is to establish a Managed Services Centre in Dublin with plans to create up to 150 skilled roles.
jlne.ws/11TAlOk

Enforcement

SEC charges India-origin person for share sale fraud
BusinessLine
US market regulator SEC has charged India-origin Vinay Kumar Nevatia for fraudulent sale of shares to the tune of $900,000 by claiming that he owned these stocks.
jlne.ws/15OMoyZ

SEC Charges California Resident With Fraudulent Sales of Stock
SEC
The Securities and Exchange Commission today charged the owner of several now-defunct investment entities with fraudulently selling shares of stock that he claimed to own when he had actually purchased them for others a few years before.
The SEC alleges that Vinay Kumar Nevatia, who used several aliases while living in Palo Alto, Calif., sold approximately $900,000 worth of stock he supposedly owned in a privately-held information technology company called CSS Corp.
jlne.ws/1rWWHWe

Securities and Exchange Board of India Proceedings
Interim Order in the matter of Aditya Global Industries Limited
PR – Order in the matter of M/s Federal Agro Commercials Limited
PR – Order in the matter of M/s Kolkata Aryan Food Industries Limited
PR – Order in the matter of M/s Vista Management Services Limited
Birla Sun Life Fixed Term Plan Sr. MI -MR
Interim Order passed in the matter of SLB Invest (India) Limited
Channel Nine Entertainment Limited
jlne.ws/12kCz9E

Sino Strategic International Ltd fined for failing to lodge financials
ASIC
Listed company, Sino Strategic International Limited, has been convicted and fined $18,000 for failing to hold annual general meetings and lodge financial reports with ASIC.
jlne.ws/1AfilKj

Environmental & Energy

Antarctica Losing Mt. Everest’s Worth of Ice as Melt Triples
By Justin Doom, Bloomberg
Antarctic glaciers are losing in water weight the equivalent of Mt. Everest every two years, with melting rates on part of the continent tripling over the past decade.
A 21-year analysis by NASA and the University of California at Irvine found that glaciers in the Amundsen Sea Embayment, Antarctica’s fastest-melting region, lost an average of 83 gigatons of ice a year from 1992 to 2013, according to a statement today from the American Geophysical Union, which is publishing the findings in its journal. Earth’s highest peak weighs about 161 gigatons.
jlne.ws/12mLGXi

Asia-Pacific

Volumes steam ahead in Japan
The Trade
The Japan Exchange Group (JPX) has announced that in November 2014, daily average trading value for the TSE 1st Section was JPY 3.2 trillion, exceeding JPY 3 trillion for the first time since May 2013.
jlne.ws/1wqSsIT

HKFE Announces Revised Margins For Futures Contracts
MondoVisione
Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Friday, 5 December 2014, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contracts will be as outlined in the table below. The adjustments are based on the clearing company’s normal procedures and standard margining methodology.
jlne.ws/1FMsMX2

Frontier Markets

Bursa Malaysia Derivatives Launches Enhanced 5-Year Bond Futures
MondoVisione
Bursa Malaysia Derivatives (BMD) successfully launched the enhanced 5-year Malaysian bond futures product or better known as FMG5 on Monday, 1 December 2014.
jlne.ws/1yKOoBK

India’s vegetable oil import to set new record at 12 mt this year
Dilip Kumar Jha, Business Standard
India might import larger tonnages of crude palm oil (CPO), which will bring domestic refiners back to business
jlne.ws/1Bd4Az1

Nigeria Bourse Plans to Introduce Derivatives Trading in 2016
By Phani Varahabhotla and Neo Khanyile, Bloomberg
The Nigerian Stock Exchange (NGSEINDX), the second-biggest bourse in Africa, is planning to introduce trading in financial derivatives in 2016.
jlne.ws/1vN7jdX

Miscellaneous

China slips in Transparency International corruption index
Jamil Anderlini in Beijing, FT
Corruption in China has worsened dramatically over the past year despite a vicious two-year campaign by the ruling Communist party that has snared hundreds of thousands of allegedly corrupt officials.
jlne.ws/1Bd87gE

Twitter tightens anti-abuse measures
Richard Waters in San Francisco, FT
Twitter has tightened its procedures to prevent harassment and other personal abuse on its network, marking a further softening of its idealistic adherence to free speech in the face of several controversial cases.
jlne.ws/1w1PZVG

Anger and dismay as Russia scraps $50bn gas plan
Christian Oliver in Brussels, Andrew Byrne in Budapest and Kerin Hope in Athens, FT
Eastern European nations reacted with shock and anger to Russia’s decision to abandon South Stream, its $50bn gas pipeline across the Black Sea into Europe, as shares in some of the companies involved in the project dived.
jlne.ws/15OJmuv

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