Wavelength Podcast Episode 123: An Examination of the SGX-NSE Row; Esma Targets Reporting Platforms
Wei-Shen Wong joins to discuss the brewing battle between the SGX and NSE and Anthony and James look at Esma's shot at reporting platforms.
Anthony Malakian, US editor of Waters, and James Rundle, news editor of Waters, record a weekly podcast touching on the biggest stories in financial technology.
On the podcast, Wei-Shen Wong, Waters’ Asia editor, joins to discuss the dispute unfolding between the Singapore Exchange (SGX) and India’s National Stock Exchange (NSE) over index licensing.
Before that, though, Anthony and James look at how the European Securities and Markets Authority (Esma) has come down on reporting platforms, saying that the data they make available to the public is often not exactly in line with what the regulator wanted when it rewrote Europe’s trading rulebook.
To hear the full interview, listen in the player above, or you can download it.
Esma v Reporting Platforms
2:00 What is the problem that Esma is looking to address?
3:15 What is Esma asking reporting platforms to do?
4:30 What are the main concerns for the reporting platforms?
6:00 What are politicians and market participants saying?
NSE v SGX
10:30 Wei-Shen joins and begins by laying out the groundwork for how we got to this point, which started with the Securities and Exchange Board of India (Sebi) asking the three main exchanges in India to terminate their existing market data licensing agreements with foreign partners.
16:00 The resolution to this fight might have roots in a case that was settled a few years ago in the United States.
17:30 What happens next?
18:00 Sebi’s decision is viewed by some as a political move and by others as a last resort. Either way, there are concerns all around that its decision will not achieve the desired results.
20:00 What are the greatest concerns going forward?
22:30 MSCI is also not pleased about Sebi’s decision.
Misc
24:00 Wei-Shen and Tony discuss their summer plans.
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Contact Info
As is the case with everything we do, we'd love to get some feedback from our listeners. Feel free to reach out to Anthony or James via Twitter or email.
Anthony: @a_malakian; [email protected]
James: @JimRundle; [email protected]
Wei-Shen: @WeiShenWong; [email protected]
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Episode 115: The CME Buys NEX Group
Episode 116: The Perils of Bitcoin; SS&C and Ion Move in on Fidessa
Episode 117: Machine Learning, Chatbots & Fintechs
Episode 118: CAT ‘State of the Union’, RTS 27 & 28 Concerns
Episode 119: SS&C's Acquisition Plans; Data Privacy Concerns; May 2018 Features
Episode 120: CCP Non-Default Losses
Episode 121: An Examination of CQRS; Coinbase’s Institutional Play
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