Market only half buys LSE merger thesis

March 16, 2016

Investors have priced in the 450 mln euros in annual savings Deutsche Boerse and its rival exchange hope to create by merging – but no more. The two aim to create value from revenue synergies too. If they can’t convince the market, the tie-up looks vulnerable to an interloper.

Cox: Let the Chinese buy Chicago’s stock exchange

By Rob Cox
February 23, 2016

Congress is up in arms about an obscure Chongqing group swallowing the old but tiny Midwest bourse. It’s an outcry that badly misses the point. The deal will force the new owners to learn a thing or two about disclosure, robust regulation and the benefits of free capital markets.

Cox: Quarterly reporting to get a major rethink

By Rob Cox
November 17, 2015

From BlackRock’s Larry Fink to presidential contender Hillary Clinton, “quarterly capitalism” has become a four-letter word. Big publicly traded asset managers could change habits by abandoning their own three-monthly results. Watch for that in the coming year.

Botched BATS IPO at least good test of markets

March 26, 2012

Scrapping a public debut is embarrassing for any company. But it’s a potential killer for an upstart stock exchange already being investigated over high-frequency trading. The relief for investors is that the failure by BATS wasn’t the catalyst for a broader meltdown.

Cambodia must solve two big problems for takeoff

April 23, 2012

Cambodia’s stock exchange opening shows the country’s relatively friendly attitude to foreign investors and markets. But meeting the needs of a rapidly growing population and reducing corruption stand in the way of the rapid growth other Asian tigers have delivered.