13 December 2014

Question: Singapore brokers, a sunset industry?

A recent question from a Reuters correspondent posed to me: "Whether Singapore brokers are a sunset industry?". Some extract from my reply:

"The business has definitely declined over the years for SGX market... "

"From my perspective, the issue is mainly the problem with the govt / regulators which started many years ago..."

"...new brokerages... Some of them don't even offer trading in SGX, just US markets, like E*Trade, OptionsXpress and ThinkorSwim..."

"While the brokerage industry business is declining overall, it is not really a sunset yet as evidenced by the new... brokerages. The appetite is still there, but not everyone is able to understand, position themselves and have the ability to do so effectively."

Additional comments:

I did a business & spreadsheet analysis for a potential business deal to buyout a local brokerage a few years back, I have also worked in a pioneering role for an established foreign brokerage setting up operations locally and a business exploration role for an European based brokerage. In short, surviving and prospering in the current industry as a broker is not easy.

08 December 2014

Temasek Agrees to Buy Stake in High-Speed Trader Virtu

Temasek Agrees to Buy Stake in High-Speed Trader Virtu

Temasek Holdings Pte will pay about $180 million for a minority stake in Virtu Financial Inc., the U.S. high-speed trading firm that postponed an initial public offering, according to a person familiar with the transaction.

09 November 2014

Shanghai-Hong Kong Stock Exchange Link Will Start in a Week

Shanghai-Hong Kong Stock Exchange Link Will Start in a Week

Bourses in the two cities will begin trading through the program, which allows a net 23.5 billion yuan ($3.8 billion) a day in cross-border purchases, on Nov. 17, regulators said in a joint statement today after weeks of investor speculation on the start date.

27 October 2014

Stock connect delay spooks Chinese markets

Stock connect delay spooks Chinese markets

Hong Kong Exchanges & Clearing (HKEx) said on Sunday that there remains no firm timetable for launching the so-called "through train", which directly links the two stock exchanges and is an major step in China's efforts to open up its capital market.

HKEx said it has not received the relevant approval for the launch of Stock Connect and noted that further announcements would be made as and when there were material developments on the timeline of launch.

23 October 2014

Updated Exchanges, Prop Trading

Updated Exchanges, Prop Trading. SMX was bought over by ICE.

Kuranda Trading website is down, and the Twitter account was last updated in April. Anyone with news, do update us at tradersing@gmail.com

A Chat with a Value Investing Legend: Professor Bruce Greenwald

A Chat with a Value Investing Legend: Professor Bruce Greenwald

The Columbia Business School was where value investing started – Benjamin Graham, the intellectual father of the discipline, first lectured on the topic there in the late 1920s. Warren Buffett is perhaps the most famous student from Graham’s lectures.

Today, the Columbia Business School is still very much in the thick of value investing, with its involvement being led by Professor Bruce Greenwald. A well-known authority on value investing, Greenwald is hailed by The New York Times as a “guru to Wall Street’s gurus.” He is also the author of multiple books, including Value Investing: From Graham to Buffett and Beyond.

Blogger Note:
While there are no statistics on the outcome of activist shareholder activities in Singapore and Asia, there are companies that display value characteristics with activist shareholder activities in Singapore. 

SGX Founding Futures - Documentary

SGX Founding Futures - Documentary

The story of Singapore’s rise as a global financial centre began with a remarkable vision more than 30 years ago. The pioneers who had this vision foresaw a vibrant and globally connected marketplace, rooted right in the heart of Asia.