First Read

George Martin, Cheevers & Co. – Keeping The Human Element
JohnLothianNews.com

“The human element is critical. There’s so much power in a handshake or a face-to-face meeting.”

George Martin, trade support specialist at Cheevers & Co., discusses the importance of human interaction in the financial industry. Despite the fact that technology has moved a majority of trading activity from open outcry pits to digital screens, Martin stresses how human interaction is still a key element in the industry. He also gives a brief background of his own trading career, and recalls the state of the financial industry before the technology boom. Giving an example from his own office, Martin tells the audience how he receives instant messages from someone a few feet away from him, when instead he would prefer them to get up and ask him the question. While Martin is not completely against technology, he believes that there is a balance that must be found between spending time in front of a screen and spending time in front of another human.
Watch the video »
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K&L Gates Adds Federal Prosecutor as Government Enforcement Partner in Chicago Office
K & L Gates
Chicago – The Chicago office of global law firm K&L Gates LLP welcomes Clifford C. Histed as a partner in the government enforcement practice, where he will focus on securities and derivatives/commodity futures litigation. Histed joins K&L Gates from the United States Attorney’s Office for the Northern District of Illinois, where he served since 2006 and was most recently deputy chief of the Securities and Commodities Fraud section following a tenure in the same role with the Financial Crimes and Special Prosecutions section.
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ICE commits to NYSE for at least 2 years
Philip Stafford in London and Gregory Meyer in New York, FT
The owner of the New York Stock Exchange has indicated it will give the institution at least two years to deliver better performance, batting down speculation its recently acquired bourse was for sale.
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***** Sounds like they are just dating and not really married. I hope NYSE does not get fat.

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Rise in financial alchemy is worryingly familiar
Tracy Alloway in New York, FT
Low yields mean risky inventions are bound to spring up
Those searching for evidence of Wall Street’s never-ending wackiness need look no further than the man who is convinced investors are wary of corporate bonds because the debt is just too risky.
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***** Alchemy is a very bad word.

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Chinese herdsman stumbles onto a 17-pound gold nugget
By Barbara Kollmeyer, MarketWatch
Imagine it! You’re walking along and nearly trip over a 17-pound (7.85 kilograms) gold nugget. File that under a most improbable gold bonanza.
But that’s exactly how it played out for one lucky sun-of-a-gun farmer in China. Berek Sawut, a Kazak herdsman from Qinghe County in Altay Prefecture told Chinese news agency Xinhua that he found the giant nugget “practically lying on bare ground.” The area is in China’s far western Xinjiang Uygur region.
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***** It is better to be lucky than good.

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Amazon launches first-ever staffed campus pickup and drop-off location, Free One-Day Pickup services at Purdue
Purdue University
Purdue and Amazon officially opened the Amazon@Purdue pickup and drop-off site in the Krach Leadership Center today. It gives Purdue students a convenient, cost-saving new option for receiving textbooks and other college essentials from Amazon, as well as a hassle-free way to return textbook rentals
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***** I love Amazon.

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Family money puts its faith in European technology
By Andrew Winterbottom, Reuters
Some of Europe’s wealthiest families are investing chunks of their cash in technology companies, bringing the benefits of long-term horizons to start-ups and filling a funding hole for the continent’s fledgling Facebooks.
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***** We make money the old fashioned way, we invest it in tech. Railroads are so passé

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Higher Wages Ahead: What Middle Market Firms Need to Know
Joe Brusuelas, Chief Economist, McGladrey
The pace of economic growth and hiring accelerated during 2014, creating the conditions for modest wage growth in 2015. The U.S. output gap, or the difference between potential and real growth, has narrowed to less than 3 percent currently from a high of about 7 percent in 2009, while the number of job openings per person has dropped to a cyclical low currently of 1.82 from a high of 6.46 in 2010. Our model indicates wage and salary growth is heading toward 3 percent this year, with the risk of a higher pace of economic growth setting the stage for a breakout in wage gains to 4 percent year-over-year in 2016.
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***** Not sure why the staff included this story.

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Turn Out the Lights, The Party’s Over
Streetwise Professor
What party, you ask? The one with the mosh pit at LaSalle and Jackson in Chicago. The one held in the building that’s in the background image of this page. That’s right. Today the CME Group announced it was ending floor trading of futures (with the exception of the S&P 500) in Chicago and New York. Floor trading of options will continue.
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***** Craig Pirrong on the CME’s announcement.

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Reflections on a 60-Year Love Affair with Trading Floors and Open Outcry
Larry Schneider, vice-president Exchange Analytics and former executive director for retail futures at Morgan Stanley Dean Witter
CME Group’s announcement to all but end open outcry was, as we all knew, never a matter of IF, but only of WHEN. I have spent a lifetime visiting and working on trading floors and believe I am in a unique position to wax nostalgically.
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***** Another reflection from a long time market participant.

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MarketsWiki

MarketsWiki Page of the Day
CME Group, Inc.

MarketsWiki Recent Updates

People

Drew Shields; Sandy Broderick; Ben Jackson; Alex Matturri

Companies, Organizations and Groups

CME Group, Inc.; Jefferies & Company, Inc.?; KCG Holdings Inc. (KCG); Trading Technologies; CME Europe; Standard & Poor’s Corp.; MIAX Options Exchange

Statistics

58,285,511 pages viewed, 8,147 articles, 189,270 edits
MarketsWiki Statistics

Lead Stories

Gooch Hustles for Other GFI Bids as Lutnick’s Takeover Loom
by Zeke Faux, Matthew Monks, Bloomberg
Mickey Gooch isn’t ready to sell the interdealer brokerage he founded 28 years ago to his longtime rival, Howard Lutnick.
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Nostalgia, but little outcry, over CME decision to close futures pits
By Ameet Sachdev – Chicago Tribune
End of an Era: CME to close most futures trading pits by July
CME’s futures trading pits remembered fondly.
The CME Group’s announcement late Wednesday afternoon to close most of its futures trading pits in Chicago and New York evoked a wave of nostalgia.
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LSE to sell Russell asset management unit
Philip Stafford, FT
The London Stock Exchange Group confirmed that it is to sell the asset management business it acquired as part of its $2.7bn purchase of Russell Investments, the index provider.
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CBOE Set to Expand VIX, SPX Options Trading Hours in Early March
CBOE
The Chicago Board Options Exchange® (CBOE®) announced today that it will expand trading hours for both CBOE Volatility Index® (VIX® Index) options and S&P 500 Index (SPX) options, adding more than six hours of additional trading five days a week. The extended hours for VIX options are set to begin Monday, March 2, while the extended hours for SPX options are expected to start on Monday, March 9.
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CME options traders see open outcry resisting fate of futures pits
By Karl Plume, Reuters
Traders packed shoulder-to-shoulder in Chicago’s grain options pits on Thursday were confident closure of the neighboring futures space did not herald the imminent demise of their business, despite eroding trading volumes and improving technology.
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Currency Devaluations Are an Undeclared War
by Simon Kennedy, Bloomberg
The global currency war is threatening to prove a silent killer.
So says David Woo, head of global rates and currencies research at Bank of America Merrill Lynch in New York.
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CME Futures Pits Closure Won’t Affect Trading: Duffy
Bloomberg Video
Terrence Duffy, executive chairman and president of CME Group Inc., talks about the company’s decision to close most of its futures trading pits in Chicago and New York, volatility in commodity markets and CME’s overseas investments. He speaks with Pimm Fox on Bloomberg Television’s “Taking Stock.”
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The Eight Unlucky Countries Facing Deflation This Year
by Andre Fonseca Tartar, Bloomberg
Deflation, deflation, deflation. It was the doomsday mantra of 2014, and nowhere was it sung louder than in growth-starved Europe. As of just a few weeks ago, economists surveyed by Bloomberg News were convinced 2015 would be the first year since 2008 that no country saw annual deflation. No longer.
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FINRA Foundation-Funded Study Documents Effectiveness of State Financial Education Mandates
FINRA
A FINRA Investor Education Foundation-funded study released today examines the effectiveness of state mandates on financial education for high-school students, documenting notable improvements in credit outcomes for young adults who were exposed to rigorous programs. The study, State Financial Education Mandates: It’s All in the Implementation, was prepared by Dr. Carly Urban of Montana State University and researchers from the Federal Reserve Board and the Center for Financial Security at the University of Wisconsin-Madison.
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Bolsa Mexicana de Valores Selects Nasdaq’s SMARTS for Market Surveillance Efforts
NASDAQ
Bolsa Mexicana de Valores, S.A.B. de C.V. (Mexican Stock Exchange) has announced it has reached a license agreement with Nasdaq (Nasdaq:NDAQ) to leverage SMARTS, the industry-leading market surveillance platform offered by Nasdaq. Bolsa Mexicana de Valores will migrate its current real-time proprietary surveillance system to SMARTS for real-time capital market monitoring. With this upgrade, the role of surveillance at Bolsa is strengthened, with new international standards built into all of the monitoring processes, allowing for seamless consolidation of supervisory duties and making these duties more efficient and effective across the board.
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EU push on dealing commissions meets resistance
Philip Stafford, FT
New European rules on dealing commissions aim to cut prices and improve transparency for investors, but brokers are warning they threaten to tighten the tap on liquidity in equity and fixed income markets.
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Swiss Central Bank Continues Intervening in Currency Market, Data Suggest
Reserves Grow Despite End to Hard Limit on Franc
By Neil MacLucas, WSJ
New data published on Friday by the Swiss National Bank suggest it bought around 60 billion Swiss francs (around $65 billion) worth of foreign currencies last month to blunt the surge in the Swiss franc’s value, even after the central bank removed a strict cap on the currency halfway through January.
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Shake Shack IPO Soars, Shareholder Democracy Be Damned
Bloomberg Business
Beneath the contemporary design and trendsetting cuisine, there’s something very old-school about Shake Shack: its corporate governance. Despite the recent brouhaha over shareholder democracy, independent directors, and “one man, one vote,” Shake Shack is happily accepting new shareholders’ cash but keeping the levers of corporate power firmly in the hands of Meyer and his original investors. The company has two classes of stock, a complex setup giving Meyer and his founding investors 85.9 percent of the voting rights.
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Here’s why floor-based options trading is still holding on
CNBC
The CME’s announcement that it is closing several futures trading pits at the CME and the NYMEX is certainly another signpost for the passing of floor-based (open outcry) trading. However, floor-based options trading continues to hold on, for a simple reason: it’s often much more complicated than mere futures trading.
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Cooperator in SAC Probe Receives No Jail Time; Noah Freeman Helped Government Insider-Trading Investigation
By Christopher M. Matthews, WSJ
Noah Freeman, a former SAC Capital LP portfolio manager who helped the government build its case against the hedge fund, left a Manhattan courthouse a free man on Thursday.
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Alpari faces break-up as KPMG fails to find buyers
Philip Stafford, FT
The administrators of Alpari’s UK business have begun the break-up of the retail foreign exchange broker after giving up on attempts to sell the business as a whole.
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Regulatory

Brazilian judge freezes Batista family assets
Samantha Pearson in São Paulo, FT
A Brazilian judge has frozen the assets of Eike Batista and his family as part of a landmark insider trading trial that could put the country’s former richest man in jail, according to court documents seen by the Financial Times.
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SEC probes Blackberry options trading ahead of Reuters report about Samsung talks
By Charles Levinson, Reuters
The U.S. Securities and Exchange Commission is investigating a January 14 spike in trading in BlackBerry Ltd options that took place hours before Reuters reported that Samsung Electronics Co was in talks to buy the Canadian smartphone maker, according to a person familiar with the investigation.
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Paul Singer Calls For “New Glass-Steagall” As He Proposes Derivatives Solutions
ValueWalk
It wasn’t long ago that senior management at Elliott Management, a hedge fund that has been widely critical of the topic rarely discussed in media – unregulated derivatives that are positioned to threaten the world economy – also accurately predicted the 2008 derivatives meltdown and warned European Central Bankers beforehand.
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Self-Regulatory Organization (SRO) Rulemaking and National Market System (NMS) Plans
BOX: Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Options Regulatory Fee (Release No. 34-74201; File No. SR-BOX-2015-08; February 4, 2015); see also Exhibit 5
CBOE: otice of Filing of a Proposed Rule Change to Amend Rules 6.41 and 24.8 (Release No. 34-74200; File No. SR-CBOE-2015-010; February 4, 2015)
CFE: Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Regarding Ownership and Control Reports (Release No. 34-74204; File No. SR-CFE-2015-001; February 4, 2015); see also Exhibit 4
ISE Gemini: Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend the Schedule of Fees (Release No. 34-74205; File No. SR-ISEGemini-2015-03; February 4, 2015); see also Exhibit 5
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Protecting Elderly Investors from Financial Exploitation: Questions to Consider
SEC
Rick A. Fleming, Investor Advocate, The American Retirement Initiative Winter Summit
Thank you, Keith [Green], for the invitation to speak today, and thanks to the others who have worked so hard to organize this important event. I am grateful for the opportunity to tell you today about my role as the SEC’s first official Investor Advocate, why my office is particularly interested in protecting the elderly from financial exploitation, and what we intend to do about it.
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Advocating for Investors Saving for Retirement
SEC
Commissioner Luis A. Aguilar, The American Retirement Initiative’s Winter 2015 Summit
Thank you, Keith [Green], for that kind introduction. I am once again pleased to sponsor The American Retirement Initiative’s (ARI) Winter Summit. We have had many successful ARI summits over the last few years, and I am glad that the ARI has continued its focus on the plight of our nation’s seniors and retirees. Protecting investors—especially those saving for their retirement—is an important mission for me. Before I continue my remarks, however, let me issue the standard disclaimer that the views I express today are my own, and do not necessarily reflect the views of the U.S. Securities and Exchange Commission (“SEC” or “Commission”), my fellow Commissioners, or members of the staff.
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Version 3.1 of the Transaction Reporting User Pack (TRUP)
UK FCA
In May 2014, we consulted on changes to the guidance for transaction reporting set out in the Transaction Reporting User Pack (TRUP) (GC14/2).
The Transaction Reporting User Pack (TRUP) provides guidance to firms on understanding the transaction reporting obligations that come from Directive 2004/39/EC on the Markets in Financial Instruments Directive (MiFID), implemented through SUP17 of the FCA Handbook.
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Exchanges & Trading Facilities

Conclusion of comprehensive review of the investment management business of Russell Investments
London Stock Exchange
London Stock Exchange Group plc (“LSEG” or the “Group”) today announces that it has concluded the comprehensive review of the investment management business of Russell Investments (“Russell Investment Management”), as previously announced on 26 June 2014.
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ICE profit tops forecasts, CEO touts NYSE’s potential
By John McCrank, Reuters
Intercontinental Exchange Inc on Thursday reported higher-than-expected quarterly earnings as the exchange and clearing house operator further integrated its $11 billion purchase of NYSE Euronext from the year-earlier quarter.
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Intercontinental Exchange Declares Quarterly Dividend of $0.65 Per Share
ICE
Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, announced today a $0.65 per share dividend for the first quarter of 2015. The dividend is payable on March 31, 2015 to shareholders of record as of March 17, 2015. The ex-dividend date will be March 13, 2015.
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CBOE Holdings Reports Record-Setting 2014 Fourth-Quarter and Full-Year Results
CBOE
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CME Group Inc. Reports Fourth-Quarter 2014 and Full-Year Financial Results
CME Group
Fourth-quarter revenues rose 22 percent and represented second highest quarterly revenue
Fourth-quarter diluted earnings per share increased more than 50 percent
Annual overall average daily volume reached a record 13.7 million contracts in 2014, along with annual records in interest rates and options
CME Group Inc. (NASDAQ: CME) today reported revenues of $841 million and operating income of $472 million for the fourth quarter of 2014. Net income attributable to CME Group was $306 million and diluted earnings per share were $0.91. Excluding the items noted in the reconciliation, adjusted earnings per share would have been $0.951.
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SGX says addressing broker concerns-Business Times
Reuters
The Singapore Exchange says it is addressing some of the grievances raised by stockbroking agents and investors, after a group of agents wrote to the government to express unhappiness over the state of the market.
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ISE Holdings Recognized as “Best Overall Exchange” at Wall Street Letter 2015 Institutional Trading Awards
ISE
The International Securities Exchange Holdings, Inc. (ISE Holdings) announced today that it was recognized by the Wall Street Letter 2015 Institutional Trading Awards as the “Best Overall Exchange.” In addition to that honor, PrecISE Trade®, ISE and ISE Gemini’s front-end order and execution management system, won the award for “Most Innovative Exchange Technology – Options.” Several important business highlights in 2014 contributed to ISE Holdings’ award wins, including the ongoing success of ISE Gemini, the introduction of enhanced risk management features for ISE and ISE Gemini, and the expansion of ISE ETF Ventures with a cyber security Index and ETF.
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CBOE RECEIVES TWO HONORS AT WALL STREET LETTER INSTITUTIONAL TRADING AWARDS CEREMONY
CBOE
The Chicago Board Options Exchange® (CBOE®) announced that the exchange received two honors — “Best Options Trading Venue” and “Best Mobile Application” — at the fourth annual Wall Street Letter (WSL) Institutional Trading Awards last night in New York City.
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Euronext to launch new premium wheat contract in March
Reuters
Exchange operator Euronext said on Thursday it will launch a new milling wheat futures contract next month to bring forward the adoption of higher quality specifications that would only have taken effect from the 2017 harvest.
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Nasdaq’s Brad Peterson is listed in Institutional Investors’ 2015 Top Tech 40 leaders in trading technology
NASDAQ
Peterson is EVP and CIO at Nasdaq. The Trading 40 are selected by Institutional Investor editors.
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Hedge Funds & Managed Futures

All currency war, all the time
David Keohane, FT
Always beware FX analysts declaiming “the dawn of a new era” — particularly one that suggests “we are all FX traders now” — but BofAML’s David Woo may be somewhat justified here:
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Computer-Driven, Automatic Trading Strategies Score Big; So-Called Quant Traders Take Advantage of Volatility
By Rob Copeland And Laurence Fletcher, WSJ
Recent market volatility caught many investors flat-footed. Among the few winners were traders who let a computer be their guide.
Hedge-fund managers who employ complicated, automatic-trading strategies made millions off the wild swings in currency and commodity markets in recent weeks, investors said.
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Commodities explained: Oil and rig counts
Emiko Terazono, FT
The weekly US rig count data, published on Friday, have generated considerable excitement in the oil markets recently, with the numbers released by oil-services group Baker Hughes moving crude prices.
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CTAs begin 2015 with a stellar January
Societe Generale
All Newedge indices posted positive returns in January continuing the strong run observed in 2014.
Societe Generale Corporate & Investment Banking (SG CIB) today announces the January performance data for its Newedge CTA performance indices.
Managed futures started the year positively, following on from the strong performance achieved in the second half of 2014. All Newedge’s indices enjoyed positive monthly returns for the sixth consecutive month.
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As investors move to passive funds, stockpickers get creative
By David Randall, Reuters
Undaunted by the popularity and outperformance of index-tracking investments, mutual fund companies last year rolled out 193 new actively managed stock funds, many with some highly colorful concepts.
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Banks & Brokers

Why did KCG sell one of its ‘crown jewels’?
By Tim Cave, Finanical News
US stock market operator Bats Global Markets made a strategic foray into new asset classes through its acquisition of KCG Holding’s FX platform Hotspot last week, but the bigger question is why did KCG choose to sell one of its most glittering assets?
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Banks slash FX leverage for clients after Swiss franc rout
By Patrick Graham, Reuters
Banks are cutting back on the credit they offer leveraged investors in foreign exchange, after an eruption in Swiss franc volatility one day last month forced changes in risk-management models, several industry figures said on Friday.
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Indexes & Products

A More Tempered Global Equity Fund
Morningstar
Low-volatility strategies, such as the iShares minimum volatility family of exchange-traded funds, can be attractive options for long-term investors. This is because these ETFs’ underlying MSCI indexes generally exhibit less-dramatic declines in bear markets. Over the long term, these muted drawdowns explain much of the strategy’s outperformance versus its cap-weighted benchmark.
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Fidelity Adds REIT ETF to Sector Lineup
ETF Trends
Fidelity Investments, one of the largest issuers of sector index funds, introduced its first real estate exchange traded fund today with the debut of the Fidelity MSCI Real Estate Index ETF.
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London Stock Exchange Looks to Sell Russell Asset Management Business
NYTimes.com
The London Stock Exchange said on Thursday that it planned to put the investment management arm of Russell Investments up for sale, a move that was widely anticipated after it bought the owner of the Russell 2000 stock market index last year.
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Technology

Google panel backs limits on ‘right to be forgotten’
Richard Waters in San Francisco, FT
Google’s decision to limit censorship under Europe’s new “right to be forgotten” requirement to its search sites based there, rather than extend it globally, has won the backing of an independent group of experts.
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GoPro is building a media empire; GoPro: We have more deals in the works for 2015 and 2016
By JenniferBooton, MarketWatch
GoPro Inc. will increase its pace of deals to stream content over the next two years as it seeks to build a media empire and diversify beyond just cameras.
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Enforcement

CFTC corrals millions in FLA precious metals scams
Mineweb
The CFTC is doggedly pursuing a number of local residents and their companies to try to make a dent in Florida’s booming precious metals telemarketing sector.
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CFTC Orders Florida Residents Isaiah Goldman and Brock Catronio and their Companies, Paramount Metals Exchange, LLC and Paramount Credit, LLC, to Pay More than $2.5 Million in Sanctions for Engaging in Illegal, Off-Exchange Precious Metals Transactions
CFTC
The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Isaiah Goldman and Brock Catronio, individually, and their companies, Paramount Metals Exchange, LLC and Paramount Credit, LLC (collectively Paramount), both of Delray Beach, Florida, for engaging in illegal, off-exchange precious metals transactions. Goldman resides in Boca Raton, Florida, and Catronio resides in Delray Beach.
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Factbox: U.S. court dismisses GDF power market manipulation complaint
By Scott DiSavino, Reuters
A U.S. federal judge has dismissed an amended complaint by two commodity trading firms alleging that French energy company GDF Suez SA manipulated power markets in Texas.
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SEC Charges Chicago-Area Alternative Energy Company for Accounting and Disclosure Violations
SEC
The Securities and Exchange Commission today charged a Chicago-area alternative energy company, its former CEO, and its CFO for accounting and disclosure violations that prevented investors from knowing that reduced business from two significant customers had caused substantial declines in the company’s long-term financial prospects.
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SEC Charges Four in California Insider Trading Ring
SEC
The Securities and Exchange Commission today charged a stock research analyst, a corporate insider, and two others involved in a California-based insider trading ring that generated nearly $750,000 in illegal profits by trading in advance of four corporate news announcements.
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Environmental & Energy

No Keystone, No Problem for Canadian Oil Seeking Ports
By Aaron Clark, Lynn Doan and Daniel Murtaugh – Bloomberg
While the debate intensifies over whether TransCanada Corp.’s Keystone XL pipeline should be approved, traders are quietly setting up alternative routes to ship Canadian oil from U.S. ports.
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Trading dries up in South Korea’s new carbon market
By Meeyoung Cho – Reuters
Trading in South Korea’s carbon market, touted as the world’s second-biggest, has got off to a slow start, with volumes drying up soon after its launch in mid-January.
jlne.ws/1uhSzGC

Australia’s) Tony Abbott denies China’s carbon trading plan shows he is out of step
By Oliver Milman – The Guardian
Tony Abbott has denied that China’s plan to launch a national carbon trading market shows he is out of step internationally on climate change, claiming his Direct Action policy is getting “more and more support” in Australia and abroad.
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China to target aviation next year in national carbon trading scheme
By Jessica Shankleman – BusinessGreen
China is reportedly planning to target energy and aviation emissions among six industrial sectors when it launches its carbon trading scheme early next year.
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Report: Wind and solar energy have tripled since 2008
By Chris Mooney – The Washington Post
We worry a lot about the problem of climate change. And we try to fix it — again, again and again — by changing how the country uses energy.
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Texas Swagger Fades as Oil Town Finds Itself in OPEC Squeeze
by Daniel Murtaugh, Bloomberg
Back in October, Jill Potts waved off concerns about falling crude prices, pointing to the long lines of trucks forming outside her oil field supply store in South Texas as evidence that the shale boom was still going strong.
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Temperatures Rise as Climate Critics Take Aim at U.S. Classrooms
by Alex Nussbaum, Bloomberg
Boys and girls, are global temperatures rising or falling? While scientists almost universally agree the world is warming, school kids in Texas, Wyoming and West Virginia will get a much less definitive answer if local activists and politicians get their way
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Asia-Pacific

Is China Preparing for Currency War?
By William Pesek, Bloomberg
China has entered the global monetary-easing fray, along with more than a dozen other economies, after its central bank surprised investors by cutting reserve requirements 50 basis points to spur lending and combat deflation. But Beijing may be raring for an even bigger and more perilous fight — in the currency markets.
jlne.ws/1DMvsnQ

Singapore’s GIC raises stake in Nielsen
Jeremy Grant, FT
GIC, Singapore’s sovereign wealth fund, has raised its stake in Nielsen, the US-based consumer research company, giving it a 5 per cent holding worth more than $800m.
jlne.ws/1KxUucf

Exchange Publishes Consultation Conclusions on Review of Listing Rules on Disclosure of Financial Information with Reference to the New Companies Ordinance and Hong Kong Financial Reporting Standards and Proposed Minor/Housekeeping Rule Amendments
HKEx
The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), today (Friday) published consultation conclusions related to its Consultation Paper on Review of Listing Rules on Disclosure of Financial Information with Reference to the New Companies Ordinance (Cap 622) and Hong Kong Financial Reporting Standards and Proposed Minor/Housekeeping Rule Amendments.
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Frontier Markets

Securities and Exchange Board of India Notices
Adjudication Order in respect of Govind Rubber Limited in the matter of non redressal of Investor grievances
PR – Order in the matter of M/s Agri Gold Farm Estates India Private Limited (AGFEIPL) and its Directors
Order in respect of Greater Kolkata Infrastructure Limited ;
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Uganda’s Second Bourse Opts for Bonds, Derivatives Over Stocks
by Fred Ojambo, Bloomberg
ALT-Xchange Ltd. will initially favor the development of Ugandan government debt and derivatives trading over equity offerings as it establishes a second bourse in the East African nation that may start operations by May.
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