| December 22, 2016 | "Irreverent, but never irrelevant" | | |  | John Lothian
Publisher
John Lothian News | |
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Head East: TT's Robbie McDonnell Sees Opportunity In Asia As Never Before
By Jim Kharouf, JLN
It's gonna be a good year after all for Asia's markets.
Robbie McDonnell, Trading Technologies' executive vice president of global sales, who returned to Asia full time in recent months, said the region got a nice volume bump in November but the real growth is soon to come for a region that is implementing new technology, new partnerships and more ways to increase trading flows East to West.
Let's start with the numbers, as 2016 was shaping up to be a down year for Asian derivatives markets. The Asia-Pacific group of exchanges as a whole were down 8.6 percent over the first nine months, according to FIA volume figures. Collectively, they handled 7 billion contracts, off from 7.66 billion for the same period in 2015.
November, however, was a game changer in Asia and certainly propelled markets around the globe.
Read More Here
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To Wisconsin in Search of a Soul; In the late 1980s, facing a reeling economy and with the school's reputation under scrutiny, Booth students banded together and helped invent the LEAD program.
University of Chicago Booth School of Business
The late 1980s were a scary time to be enrolled at Chicago Booth. Students had left jobs to attend what they considered one of the best, if not the best, business school in the country. They planned to move on to big corporate careers, many of them in finance. Then, on October 19, 1987Âwhat came to be known as Black MondayÂthe stock market recorded its biggest single-day drop in history, losing 22.6 percent of its value, $500 billion. The following October, BusinessWeek (now Bloomberg Businessweek) came out with a survey ranking Booth as No. 11 among business schools, not even in the top 10. The school's curriculum got a D and its professors got a C.
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**JK: These may be the only C and D grades ever recorded at the University of Chicago.
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Chicago billionaire Ken Griffin funds lakefront paths
Lynn Marek - Crain's Chicago Business
Citadel founder and CEO Ken Griffin, the richest man in Illinois, is giving $12 million to the Chicago Park District to help fund separate paths for cyclists and pedestrians along the city's 18-mile lakefront.
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**JK: Dear Ken, I'll be thinking of you on my way to work. Happy Holidays.
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SEC Charges Former New York Pension Official and Two Brokers in Pay-to-Play Scheme
SEC
The Securities and Exchange Commission today announced fraud charges against a former official of the nation's third largest public pension fund and two brokers accused of orchestrating a pay-to-play scheme to steer billions of dollars to certain firms in exchange for luxury gifts, lavish vacations, and tens of thousands of dollars spent on cocaine and prostitutes.
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***** I play for the love of it. Oh, different game.
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There May Not Be Enough Eggnog This Year; Dairies report strong demand for the creamy holiday drink; could eggnog top pumpkin spice?
By ANNE MARIE CHAKER - WSJ
The U.S. is facing an eggnog deficit. The punchbowl and punching-bag favorite is selling out this Christmas, with dairies reporting record sales and surprising shortfalls.
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***** Supply and demand baby, supply and demand.
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Tim Edwards, S&P Dow Jones Indices - The Relative Importance of Skill, Conviction and Blind Luck in Beating the Market
MarketsWikiEducation.com
"I believe that the next big trend in our industry is going to be far more customized, far more bespoke, and it's all going to be available at low cost because of technology."
When Google was readying for its IPO in 2004, employees were given educational courses in finance and investing. Then senior vice president Jonathan Rosenberg was worried that Google employees  many soon to be minted millionaires  would be taken advantage of by all manner of asset managers and brokers. During the presentations, a series of notable figures all gave the same advice to Google employees, "don't try to beat the market."
Through the lens of that story, Tim Edwards, senior director of index investment strategy for S&P Dow Jones Indices, explores the history of indexing in this MarketsWiki Education Video. Edwards follows indexing from the Vanguard origin days to now, an era when 99 percent of European fund managers invested in U.S. stocks could not beat their benchmark.
Watch the video »
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Second tuna executive to plead guilty to price fixing
Reuters
A Bumble Bee tuna executive has agreed to plead guilty to conspiring to fix the prices of canned tuna, the second Bumble Bee executive to do so in a month, the Justice Department said on Wednesday.
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***** No word on what the net take was of the conspiracy.
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Widespread Drug Price Increases Point to Collusion, Study Finds
by Liam Vaughan and Jared S Hopkins - Bloomberg
Ninety generic drugs have had large, closely matched increases; Fideres analysis comes as Justice Department investigates
About one in 19 generic drugs sold in the U.S. during the past three years have undergone major price hikes that may be consistent with collusion, according to a wide-ranging study that comes in the middle of a sprawling Justice Department investigation into pharmaceutical price-fixing.
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***** Do we need a futures contracts on generic drugs? I am 10 bid on the Jan. Norco.
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Top Three
Well, looks like everyone wanted to know what happened to Igor Oystacher and his firm. The top read story by far was Reuter's CFTC, Chicago trading firm reach $2.5 million 'spoofing' deal. Second went to the sad story of the UBS trading floor that is often the symbol of days gone by, featured by the Wall Street Journal in World's Largest Trading Floor Put on the Block. The third most read piece was really just like the most read piece, except it was the FT's article Chicago futures firm 3Red Trading to pay $2.5m spoofing fine. As Depeche Mode sang, "Just Can't Get Enough."
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| Lead Stories | Banks get slapped with $220M in fines over economic crisis
By Carleton English - NY Post
Big banks are getting slapped around for their actions during the financial crisis. Regulators in the US and Europe levied roughly $220 million in fines on Wednesday to settle various rate-rigging probes that looked into bank actions that occurred before, during and  in some cases  even after the financial crisis of 2008 and 2009.
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London's trading businesses await Brexit fallout in 2017; Six months on from the vote, many companies are reluctant to speak openly of their plans
by: Philip Stafford and Hannah Murphy - FT
For the hundreds of financial institutions based in London and trading across global markets, 2017 throws up one overarching uncomfortable question: what do we do about Brexit?
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LME Clear and LME announce the appointment of James Proudlock as Deputy Chief Executive for LME Clear
LME
LME Clear and the London Metal Exchange (LME) are pleased to announce the appointment of James Proudlock as Deputy Chief Executive for LME Clear. James will join in April 2017 and he will report to the Chief Executive, Adrian Farnham. James will be a member of the LME Clear Executive Committee.
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'Regtech' startups see more business in Trump era
By Anna Irrera - Reuters
President elect Donald Trump is pro-business and anti-red tape. But what if your business is red tape? Companies whose technology helps banks and investors cope with the welter of post financial crisis regulations and avoid increasingly hefty fines - a sector known as "regtech" - are sanguine about Trump's pledge to dismantle some of those reforms.
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Goldman Sachs Ties to Scandal-Plagued 1MDB Run Deep; Bank courted state fund now at heart of global embezzlement probes, and investigators want to know if it should have reported suspicious activity
By JUSTIN BAER, TOM WRIGHT and KEN BROWN - WSJ
On a yacht moored at Saint-Tropez, Malaysian Prime Minister Najib Razak talked business with Abu Dhabi's crown prince. Included in the horseshoe of chairs set up for the July 2013 gathering was a partner from Goldman Sachs Group Inc.
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Brexit threatens 10 percent of London financial jobs: lobby group
By Huw Jones - Reuters
Up to 10 percent of jobs in London's financial district may be lost if Britain fails to secure adequate access to European Union markets after Brexit, a City of London official said on Wednesday.
/goo.gl/6aNJ66
Hedge funds fees take a trim; Traditional '2 and 20' fees are becoming outdated as managers seek to keep investors happy
by: Lindsay Fortado, Hedge Fund Correspondent - FT
When Chris Rokos launched a hedge fund late last year, he offered investors the standard industry charge: a 2 per cent management fee and a 20 per cent performance fee.
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Goldman Sachs to pay $120 million over attempted ISDAFIX benchmark manipulation
Sarah N. Lynch - Reuters
Goldman Sachs Group Inc (GS.N) will pay a $120 million penalty to resolve civil charges that it attempted to manipulate a global benchmark for interest rate products known on Wall Street as "ISDAFIX," U.S. derivatives regulators said Wednesday. The case against Goldman Sachs, brought by the Commodity Futures Trading Commission, was the latest in a series of broad investigations into manipulation by big banks of a variety of global benchmark rates.
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Big Banks Are Stocking Up on Blockchain Patents
Olga Kharif - Bloomberg
In the headlong rush to revolutionize modern finance, blockchain enthusiasts are overlooking one potentially costly problem: their applications, built on open-source code, may actually belong to someone else.
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Investors Worry as Financial Picture of Italy's Oldest Bank Deteriorates
By CHAD BRAY - NY Times
Investors are increasingly sounding the alarms over Monte dei Paschi di Siena, the beleaguered Italian lender, as concerns mounted on Wednesday about its ability to raise new capital and avoid a government bailout.
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Calpers Cuts Investment Targets, Increasing Strain on Municipalities
By MARY WILLIAMS WALSH - NY Times
The board of California's state public pension system, Calpers, voted Wednesday to lower expectations for future investment returns, a step that will increase pressure on the budgets of towns and cities across the state.
/goo.gl/dvcdI3
F.B.I. Agent's News Leaks May Doom Federal Case Against William Walters
By MICHAEL CORKERY - NY Times
A major insider trading case against the Las Vegas sports bettor William T. Walters is in danger of unraveling, after it was revealed that a federal agent leaked confidential information to reporters.
/goo.gl/2ayGkI
How Dimon's Monte dei Paschi plan came to grief; Recriminations begin over private sector rescue bid, as state prepares bailout
by: Martin Arnold in London and Rachel Sanderson in Milan - FT
This summer, Matteo Renzi, the Italian prime minister, and Jamie Dimon, one of the world's most powerful bankers, hatched a plan over lunch in Rome to save Monte dei Paschi di Sienaand prop up Italy's struggling banking sector.
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Wall Street holiday parties are back...but don't tell anyone
By Lawrence Delevingne and Olivia Oran - Reuters
Wall Street holiday parties this year took place in luxury venues like the Waldorf Astoria, featured women dressed as glowing angels, and had fine wine, scotch and bourbon on hand.
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| Brexit | | Financials stories regarding the recent decision of the United Kingdom to leave the European Union | Brexit threatens 10 percent of London financial jobs: lobby group
Huw Jones - Reuters
Up to 10 percent of jobs in London's financial district may be lost if Britain fails to secure adequate access to European Union markets after Brexit, a City of London official said on Wednesday. Bankers first called for full access after June's vote to leave the European Union but such hopes have now faded, leaving the sector to call for a transitional deal to ensure a smooth switch to Britain's new trading terms with the bloc.
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Brexit is a success even before it's happened
iain martin
Trade - The Times
Trad deals are in the offing and there are signs our near-dead parliament is coming back to life
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| Exchanges, OTC & Clearing | | Top news from exchanges, clearing, settlement and trade execution facilities | CBOE purchase of Bats reflects aim to tap options trading for ETFs
Philip Stafford - Financial Times
CBOE Holdings' planned $3.2bn purchase of Bats Global Markets reflects a crucial step in tapping the next major area of growth across exchange traded products. The booming sector is set to expand further with the use of options. In an interview with the Financial Times, Ed Tilly, chief executive of CBOE, laid out a comprehensive case for why the new entity is best placed to take advantage of rapidly shifting demand from investors for structured products.
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Kengeter resists calls on Frankfurt HQ for Deutsche Borse-LSE
Philip Stafford, James Shotter and Patrick Jenkins - Financial Times
Deutsche Borse's attempt to merge with the rival London Stock Exchange Group has hit political turbulence because of the UK's decision to leave the European Union, but the German exchange's boss is unfazed by all the noise surrounding the deal.
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Deutsche Börse announces key appointments to Eurex Product Development
Eurex
Deutsche Börse's award-winning Eurex derivatives business has announced the appointment of Lee Bartholomew and Zubin Ramdarshan to key product development roles. Both join the company in the middle of an industry transformation that challenges market infrastructure providers to constantly drive innovation and foster technical excellence in order to best serve the market's needs.
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LSE Group says markets have more work to do ahead of new trading rules
Alistair Smout - Reuters
Market participants who want to minimize the impact of sweeping new regulations on securities trading in Europe have more work to do in the last year before the changes take effect, London Stock Exchange said on Wednesday.
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Deutsche Börse Increases Share In Tradegate
Mondovisione
Deutsche Börse AG is exercising a third and also final call option on shares in Tradegate AG and will thereby increase its approximately 15-percent stake in Tradegate AG to almost 20 percent. Deutsche Börse AG exercised two call options back in 2014, increasing its then approximately five-percent stake in Tradegate AG to almost 15 percent. The latest increase in shares is subject to regulatory approvals.
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New Aim-listed companies raised an average of £30m each this year
by Rhiannon Bury - Telegraph
New companies that floated on the London Stock Exchange's Aim market raised an average of £30m this year, as the index celebrated its 21st birthday.
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Deutsche Börse Chief Confident About LSE Merger and E.U. Antitrust Approval
Handelsblatt
Carsten Kengeter, CEO of Deutsche Börse, is confident that the European Commission will approve the planned merger of his firm with the London Stock Exchange (LSE).
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| Politics | | An overview of politics during an election year as it relates to the financial markets | Trump's Businesses Could Be Tripped Up By A 2012 Insider Trading Law
Jim Zarroli - NPR
President-elect Donald Trump insists he can do all the business deals he wants while serving in the White House, but a 2012 law barring insider trading by government officials could make doing so a lot more complicated.
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Trump picks China hawk for trade advisory role
Reuters
U.S. President-elect Donald Trump on Wednesday named Peter Navarro, an economist who has urged a hard line on China, to head a newly formed White House National Trade Council, the transition team said in a statement.
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Trump May Have a $300 Million Conflict of Interest With Deutsche Bank
by Keri Geiger , Greg Farrell , and Sarah Mulholland - Bloomberg
Concern about conflict of interest given bank's federal probes; Deutsche Bank faces huge potential fines from U.S. government
For years, Donald Trump has used a powerful tool when dealing with bankers: his personal guarantee.
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Trump Names Carl Icahn as Adviser on Regulatory Overhaul; Billionaire investor already has helped with search for new head of Securities and Exchange Commission
By DAVID BENOIT - WSJ
Billionaire investor Carl Icahn on Wednesday was named special adviser to the president on overhauling federal regulations.
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| Investing & Trading | | Today's top stories from fixed income, currencies and commodities (FICC) | Why This Treasury Market Rout Is So Painful
Ben Eisen - WSJ
The current rout in the bond market is causing much more pain than it would have three decades ago. The reason: Yields started rising from such a low level that the resulting drop in prices has been all the more severe. The yield on the benchmark 10-year Treasury note, which rises when prices fall, has climbed more than a full percentage point since its record low in July, and recently traded at 2.542%, according to Tradeweb.
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Bitcoin surpasses $800 for the first time in 3 years
Joseph Adinolfi - MarketWatch
The price of a single bitcoin touched a fresh three-year high on Wednesday with U.S. and European buyers accounting for the bulk of trading volume.
/goo.gl/OPkLfC
A volatile calm - the paradox of 2016 financial markets
Jamie McGeever and Vikram Subhedar - Reuters
Traditional measures of volatility at historic lows and Wall Street stocks at new record highs went hand-in-hand in 2016 with traders fretting about bouts of wild stock-price swings and currency flash-crashes. The past year has been nothing if not paradoxical for financial markets - a landscape that will probably persist in 2017.
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Multi-manager hedge funds lost cash, cachet in 2016
By Svea Herbst-Bayliss - Reuters
Team-based hedge funds lost billions in cash and some of their cachet this year, creating an uncertain future for a strategy that had long been an industry darling.
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Who do you invest with for big returns: A rich manager or a poor one?
Mark Hulbert - USA Today
The best-performing mutual fund managers, on average, are those who grew up in the poorest families. You read that right: The best managers on Wall Street, that bastion of the 1%, are more often than not from families at the poorest end of the socioeconomic spectrum.
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Is 2017 The "Last Hurrah" For Active Managers?
Johanna Bennett - Barron's
It looks like Barron's isn't the only one expecting active fund managers to get more respect in 2017. Jefferies analyst Daniel Fannon and his team published a report today highlighting seven key themes and topics that will face asset managers next year.
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US banking sector regains its appeal for famed investor; Steve Eisman, portrayed in 'The Big Short', is bullish for the sector under Trump
by: Ben McLannahan in New York - FT
Steve Eisman, the hedge fund manager portrayed on screen in The Big Short, has a new Big Long: the US banking sector.
/goo.gl/Do969G
Junk-Bond Investors Raise Secrecy Concerns as Issuers Snub EU
by Katie Linsell - Bloomberg
Bondholders to discuss growth of Channel Islands debt listings; Takko has shifted notes from Luxembourg to avoid disclosures
Junk-bond buyers are griping about the rising number of companies listing debt in the Channel Islands to sidestep toughened European Union regulations.
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ISDA Americas Credit Derivatives Determinations Committee: iHeart Communications, Inc. Failure to Pay Credit Event
ISDA
The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Americas Credit Derivatives Determinations Committee resolved that a failure to pay credit event occurred in respect of iHeart Communications, Inc.
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| Banks, Brokers & Managed Funds | | The latest from banks, brokers, hedge funds and managed futures | Jamie Dimon on Trump, Taxes, and a U.S. Renaissance; The CEO of JPMorgan Chase talks about Detroit's revival and his views on the incoming administration.
by Megan Murphy - Bloomberg
We're here in Detroit to look at what JPMorgan Chase has done with a five-year commitment to invest $100 million in the city. Why is an initiative like this good business for you as well as for Detroit?
/goo.gl/goImJ8
Exclusive: Investors shun Italian bank Monte Paschi's share offer - sources
Paola Arosio and Silvia Aloisi - Reuters
Ailing Italian bank Monte dei Paschi di Siena (BMPS.MI) has all but failed to pull off a privately funded rescue plan, unable to find investors to take up its share offer at the 11th hour, and a state bailout now looks inevitable, sources said on Wednesday.
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Monte Paschi Said Headed for Nationalization After Sale Failure
by Sonia Sirletti - Bloomberg
No anchor investor has expressed interest in buying stock; Government prepares 20 billion-euro package for lenders
Banca Monte dei Paschi di Siena SpA will probably fail to lure sufficient demand for a 5 billion-euro ($5.2 billion) capital increase, leading to what would be the country's biggest bank nationalization in decades, said people with knowledge of the matter.
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Bank-Merger Drought Puts Europe in a Bind; The eurozone needs bigger, more profitable lenders, but there is little appetite in the boardroom
By MAX COLCHESTER and JEANNETTE NEUMANN - WSJ
The push to create a closer-knit European banking system is struggling to overcome a basic hurdle: Lenders aren't merging.
/goo.gl/e0yu3u
Former State Street global futures head joins Credit Agricole; Williams departed State Street in May after the custodian announced it would shut down its global FCM business.
By Joe Parsons - The Trade
Peter Williams, the former global head of futures and options clearing and execution at State Street, has joined French bank Credit Agricole, The TRADE Derivatives understands.
/goo.gl/bNff6u
Cowen makes senior hires for electronic trading; Hires of former Goldmans and Deutsche traders to boost Cowen's electronic trading.
By John Bakie - The Trade
US-based broker-dealer Cowen Group has hired a former Goldman Sachs trader to head up its electronic trading business.
/goo.gl/Y5MbvH
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| Fintech | | A roundup of today's market tech news and a look at tomorrow's disruptors | State Street tests blockchain system for securities lending
Anna Irrera - Reuters
State Street Corp (STT.N) has tested a blockchain system that it hopes can be used to streamline the securities lending process as the financial industry accelerates efforts to adopt the emerging technology.
/goo.gl/t5JJj9
Why Collaboration Will Drive Blockchain's Success in 2017
Richard Collin - Coindesk
Richard Collin leads the software engineering team in Thomson Reuters' Applied Innovation group. He oversees the development and delivery of potential products that use emerging technologies like blockchain, including the BlockOne ID authentication service.
/goo.gl/QBRYKj
BNP Paribas Clients Conduct 'Live' Blockchain Payments
Michael del Castillo- Coindesk
A multi-million dollar global collectibles seller and a billion-dollar packaging firm have participated in some of the first "live" transactions using BNP Paribas' blockchain service, the bank said today.
/goo.gl/jjvuqX
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| Regulation & Enforcement | | For more regulatory, visit MarketsReformWiki, our website focused on current market reform efforts. | Brazilian firms to pay record $3.5 billion penalty in corruption case
Mica Rosenberg and Nate Raymond - Reuters
Brazil-based construction colossus Odebrecht SA and affiliated petrochemical company Braskem SA agreed on Wednesday to pay at least $3.5 billion, the largest penalty ever in a foreign bribery case, to resolve international charges involving payoffs to Brazil's state oil company and others.
/goo.gl/81omoT
Exclusive: NY financial regulator to delay cyber security rules
Suzanne Barlyn - Reuters
New York's financial regulator will delay an anticipated Jan. 1 deadline for banks and insurers doing business in the state to comply with controversial cyber security rules, a person familiar with the matter said.
/goo.gl/MuhjM5
Former BlackRock fund manager jailed for 12 months for insider trading
Andrew MacAskill - Reuters
A former star fund manager in the London office of asset manager BlackRock (BLK.N) on Wednesday was sentenced to 12 months in jail after pleading guilty to two counts of insider dealing. Mark Lyttleton, 45, admitted buying shares in EnCore Oil and Cairn Energy (CNE.L) ahead of public announcements from both firms, after hearing privileged information from colleagues.
/goo.gl/W7eQfu
FINRA fines Wells Fargo, others $14 million for records' changeable format
Elizabeth Dilts - Reuters
The Financial Industry Regulatory Authority said it fined several Wells Fargo & Co businesses, RBC Capital Markets, LPL Financial and others a combined $14.4 million on Wednesday for record-keeping problems that may have allowed company and customer documents to be altered.
/goo.gl/Xfkhmw
FINRA Fines 12 Firms a Total of $14.4 Million for Failing to Protect Records From Alteration; Matters Reflect FINRA's Focus on Cybersecurity
FINRA
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined 12 firms a total of $14.4 million for significant deficiencies relating to the preservation of broker-dealer and customer records in a format that prevents alteration. FINRA found that at various times, and in most cases for prolonged periods, the firms failed to maintain electronic records in "write once, read many," or WORM, format, which prevents the alteration or destruction of records stored electronically.
/goo.gl/B17Yk1
SEC Charges Operators of Fake Day-Trading Firm With Defrauding Inexperienced Investors
SEC
The Securities and Exchange Commission today charged two men behind a phony day-trading firm with pocketing more than $1.4 million in deposits from hundreds of defrauded investors worldwide.
/goo.gl/WQTxyz
Goldman fined $120m over rate rigging charges
by: Philip Stafford - FT
Goldman Sachs has been fined $120m by US markets regulators for attempted manipulation of Isdafix, a key interest rate swaps benchmark, over a five year period.
/goo.gl/r6j62c
SEC Issues Annual Staff Reports on Credit Rating Agencies
SEC
The Securities and Exchange Commission today issued two annual staff reports that demonstrate compliance and competition continue to increase among the credit rating agencies under SEC oversight as nationally recognized statistical rating organizations (NRSROs).
/goo.gl/5rGN4Q
Sharon Binger, Director of Philadelphia Regional Office, to Leave SEC
SEC
The Securities and Exchange Commission today announced that Sharon B. Binger, Director of the Philadelphia Regional Office, will leave the agency at the end of the year. Following her departure, G. Jeffrey Boujoukos, the Philadelphia office's Associate Regional Director for Enforcement, will serve as Regional Director.
/goo.gl/BUWilr
Former Official at New York State Pension Fund, Two Brokers Charged in Bribery Scheme; Ex-portfolio manager allegedly steered $2.5 billion in business to two brokerage firms
By CORINNE RAMEY - WSJ
A former portfolio manager of New York state's pension fund steered more than $2 billion in business to two brokerage firms in exchange for bribes that included prostitutes, cocaine, concert tickets and a $17,400 Panerai watch, federal prosecutors said Wednesday.
/goo.gl/V60psi
Justice Department Watchdog Opens Investigation Into FBI Leak; Agent is accused of leaking details to reporters on insider-trading probe into sports gambler William 'Billy' Walters
By NICOLE HONG - WSJ
The Justice Department's inspector general's office has opened a criminal investigation into a federal agent accused of leaking sensitive details to journalists about an insider-trading probe into sports gambler William "Billy" Walters, prosecutors said at a hearing Wednesday.
/goo.gl/3zdYnF
ESMA Proposes New Digital Format for Issuers's Financial Reporting
ESMA
The European Securities and Markets Authority (ESMA) has today published a feedback statement setting out the digital format which issuers in the European Union (EU) must use to report their company information from 1 January 2020. It concludes that Inline XBRL is the most suitable technology to meet the EU requirement for issuers to report their annual financial reports in a single electronic format because it enables both machine and human readability in one document
/goo.gl/Pum8K8
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| Regions | | Stories of local interest from the Americas, EMEA and Asia-Pacific regions | Top bureaucrats in race for Sebi chief post; Economic Affairs Secretary Shaktikanta Das and Power Secretary P K Pujari are among the front runners
Business Standard
At least three senior bureaucrats are believed to be in contention for the post of capital market regulator Securities and Exchange Board of India (Sebi)'s chairman after the extended tenure of incumbent U K Sinha ends on March 1, 2017.
/goo.gl/JUmWMw
GFI Group expands South African footprint with acquisition of Johannesburg-based interdealer broker Micromega Securities
PRNewswire/
GFI Group, Inc. ("GFI" or "the Company"), a subsidiary of BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners" or "BGC") operating as an intermediary in the global OTC and listed markets, today announced that an affiliated entity has entered into an agreement to acquire Micromega Securities Proprietary Limited ("Micromega Securities").
/goo.gl/UnbEcZ
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| Miscellaneous | | Stories that don't quite fit under the other sections | Hemp Is the New Tobacco as Kentucky Farmers Bet on Weed's Cousin
by Jen Skerritt - Bloomberg
Acreage more than doubled in 2016; state is No. 2 U.S. grower; Hemp is used in rope, linens, food and medicinal products
It looks like pot. It smells like pot. But it's hemp, marijuana's legal cousin, and it's taking over the Bluegrass state.
/goo.gl/vDWe8Y
Is Wikipedia Woke?; The ubiquitous reference site tries to expand its editor ranks beyond the Comic Con set.
by Dimitra Kessenides and Max Chafkin - Bloomberg
Bisi Adeleye-Fayemi is a 53-year-old British-Nigerian human-rights activist and, it's fair to say, a person of some note. She's co-founder of the African Women's Development Fund, a nonprofit dedicated to promoting women's rights throughout the continent. It's not a huge charity, having distributed $26 million since 2001, but it does important work. In 2013, Leymah Gbowee, a Nobel Peace Prize laureate, credited the AWDF with helping to end the Liberian civil war. But until recently, Adeleye-Fayemi didn't exist on Wikipedia, which meant that as far as many people were concerned, she didn't exist at all.
/goo.gl/4OI8Nu
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