FragINSIGHT – taking a closer look at Asia Pacific
Welcome to the September issue of FragINSIGHT which provides an in-depth study of the Japanese market and an update on developments in Australia, together with our regular analysis of fragmentation across the USA, Canada, Europe and Japan. Also included on page 4 is a useful at-a-glance summary of the global regulatory spectrum. Download your copy here. Thanks to everyone for their... Read More
Welcome to FragINSIGHT
Our team of analysts has come up with a great new information source on fragmentation which we hope you’ll find useful. Having piloted FragINSIGHT last month we had a great response and lots of positive feedback so we decided to publish it on a regular basis – every couple of months to begin with – and make it freely available to all. As well as providing in-depth analysis... Read More
Too close to call – er maybe not then
So the LSE/TMX deal is no more – it is deceased, it is an ex deal. Last night the LSE broke off talks with Canada’s TMX group as it became obvious that their proposed merger was never going to get the required support of TMX shareholders. So, if you include recent events in Australia, the latest score is National Self Interest 2 – Common Sense nil. So, what now... Read More
Too close to call? LSE v Maple Group
This week is supposed to be crunch time in Canada as investors in the TMX Group vote either to throw their lot in with the London Stock Exchange or retrench within their national borders and develop as the Maple Group. An article in the Financial Times today questioned whether either deal was actually a good one. On the one hand the Maple Group deal looks challenging as the new... Read More
A truly Canadian solution?
The merger mania in the exchange space took another twist last week when a consortium of Canada’s largest banks and pension funds put forward an alternative offer for TMX in an attempt to scupper the LSE Group’s own merger proposals with the Canadian exchange. There’s a clue to the consortium’s basic pitch in its name – the Maple Group – and the rhetoric from... Read More
National interest or political self-interest?
Few can have missed the announcement that the proposed merger between ASX and SGX is about to be halted by Wayne Swan, Australia’s Treasurer. He cites the deal as contrary to the national interest which, of course, has been a concern raised by the Canadian authorities in their review of the proposed merger between their own TMX Group and the London Stock Exchange. I wonder... Read More
Little and Large
Looks like Canada was a good place to pick as the venue for the first Fidessa Fragmentation Forum of 2011. Around 140 representatives from Canada’s financial community gathered together at the Toronto Stock Exchange’s HQ in Toronto to discuss fragmentation and Canada’s role in global financial markets. Naturally, much of the discussion focused on the news of a merger... Read More
Deriving Equities Market Share
Last Friday, the 17th September, highlighted again the interrelationship between derivatives and equities in terms of fragmentation. The third Friday of the month is associated with futures and options expiration and so market participants close out positions with a resultant surge in volumes on the primary exchange. You can see this effect clearly in the US, Canada and London as... Read More
Welcome to Global Fragmentation
As you can see, the clever guys at Fidessa Labs have been pretty busy over the summer. They’ve added coverage for the USA, Canada, Japan and the rest of Asia – all in all around 200,000 individual stocks and indices (and growing!) to provide a truly global view of fragmentation. The new site also provides further insight into the world-wide experiment that is going on in... Read More
