DERIVATIVES CUSTODY
2021 YEAR IN REVIEW | DERIVATIVES
Derivatives 2021 Year in Review
International over a possible acquisition of the Chicago-based fintech firm for an estimated $500m (£370m), according to sources. The US bank is said by sources to have dropped the takeover talks with the US tech firm in the past two weeks, less than a month after the same sources said in early December Goldman was in late-stage discussions to buy the firm though an agreement was not certain at that stage.
FEBRUARY
2021 – A year of sustained volatility The futures and options markets remained volatile as exchanges reap the rewards from high demand for hedging instruments. JANUARY LSE closes ‘transformational’ Refinitiv deal The London Stock Exchange Group (LSEG) has completed its all-share acquisition of US data and tech provider Refinitiv from Thomson Reuters and Blackstone Group, describing the deal as “transformational”. The $27bn (£19.7bn) deal will see LSEG sell off Borsa Italiana Group, including its Italian exchange and bond trading platform MTS, to meet European Commission antitrust conditions. Goldman pulls plug on Trading Technologies takeover Goldman Sachs has abandoned talks with Trading Technologies
Winter 2020/21
HKEX picks former JP Morgan banker as CEO Hong Kong Exchanges and Clearing has appointed former JP Morgan senior banker Nicolas Aguzin as its next chief executive officer. The Hong Kong-based exchange said Aguzin will become chief executive on May 24 2021 for a fixed term of three years, subject to the approval of the Securities and Futures Commission.
MARCH ICE’s first Middle East exchange opens Volumes at Intercontinental Exchange’s first exchange in the Middle East, Ice Futures Abu Dhabi (IFAD), reached 8,854 lots on the first day of trading. “This is a good start,” IFAD’s president Jamal Oulhadj told Global Investor. “The first trading day was very exciting, beyond our expectations.
the €1 billion threshold, according to chief executive Stéphane Boujnah. “On a pro forma basis we have now crossed the symbolic €1 billion revenue bar, with for 2020 total revenue a total amount of €1.4 billion approximately,” he said in a call to discuss the deal. Cboe to launch European exchange on September 6 Cboe Global Markets said the European futures and options market it will launch in September has a “critical mass” of clients after three banks and six trading firms publicly backed the new exchange. The Chicago-based group said it will launch Amsterdam-based Cboe Europe Derivatives, its first European derivatives market, on Monday September 6.
MAY HKEX to remain “China-anchored” under new chief Aguzin The new chief executive of Hong Kong Exchanges and Clearing has offered his first thoughts on the future strategy of the Asian exchange, suggesting a continuation of the group’s existing approach including its strong links to China. Nicolas Aguzin, who became head of HKEX, said: “It is still early days to comment definitively on thoughts around strategy, where we are going and where we should be but I can say in general I don’t anticipate a significant shift in our strategy around being China-anchored.”
JUNE
APRIL Euronext closes Borsa Italiana deal for €4.4 billion Euronext has completed the acquisition of Borsa Italiana Group from the London Stock Exchange Group in a €4.4 billion (£3.2bn) deal that takes the group’s revenue over
52
LME trading ring to reopen on September 6 The London Metal Exchange has said London’s last remaining open outcry trading floor will reopen in September, almost 18 months after it was closed due to Covid-19.
www.globalinvestorgroup.com
