Martin Wheatley - will be Hong Kong loss be gain of London?

Wheatley is clearly a praiseworthy choice, given his current role as financial Hong Kong man running watchdog and his previous role as Deputy Chief Executive of the London Stock Exchange in the Dame Clara Furse, just sit on the small panel offer a choice of George Osborne.

But if everything seems too good to be true, it might just be. My sources tell me that during their time together, the pair was not quite what one might call friends, and Dame Clara that work with him a little difficult. While it is really only favourable to its appointment?

It seems also that his time in the old colony British – he has been there for six years and I will withdraw spring – is far from a walk in the Park.

Reports at the time wherever he announced his departure from the regulator of Hong Kong underscored the fact that people were therefore not satisfied with his work to deficit Lehman mini-liaisons that they burned her image outside of Office Agency regulatory and blasted music funeral Chinese outside.

Loss of Hong Kong will perhaps gain London after all?

You can contact James Quinn on the opinions expressed in this column, email him at mailto:james.quinn@telegraph.co.u

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Russian IPOs in London: success, planned, deferred

Rusagro - Russian pork and sugar producer has resurrected plans scrapped just below year last for individual flotation clothing. It fixed the price the offering at $ 14.50 to $ 18.25 per depositary receipt global Tuesday to raise $ 187 million of £.

Hydraulic HMS - the Russian manufacturer of pumps has been forced to cut prices and the extent of the plans to raise up to £ 407 m in London in February its float. It triggered instead of 225 million to £.

Retailereuroset - Russian mobile phone has been reported as as saying last week that it will proceed with an introduction in London Stock Exchange that could raise more than 625 m £.

Standard - Russian construction firm standard group began to pre-marketing a 300 m IPO £ London institutions, last week, according to Reuters.

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Russia's Severstal plans $5bn North Gold London listing

Gold North aims to produce up to 1 m ounces of gold in 2013, an estimate ounces 589,000 in 2010 Photo: AP

Flotation will be the highest initial public offer value even for a gold company and the first of many gold seekers who seek to come to London this year.

The society aims to raise the most of $billion by floating a at least 25pc stake in a premium on the London main market. About 250 m $ will be disbursed to repay loans to existing shareholders, 300 million will be invested in projects to increase production and m 450 m $-500$ remaining will be returning to Severstal as profit on his investment.

"Russian origins we grew to become a miner of gold internationally diversified," said Nikolai Zelenski, CEO of Northern gold. ""

"We had interaction with investors, and we believe that we offer a very attractive value proposition: we offer exposure on the gold market, we offer a business that is completely unhedged, and we offer a company with very high rates of growth."

In just three years, Mr. Zelenski, a former consultant with McKinsey, built North of gold in a company with annual revenues of more than 500 m $, focusing on acquiring and turning around mines in distress in West Africa, the Kazakhstan and the Russia.

But some analysts said that even with the Golden Award of $1,400 per ounce of tests, investors may baulk facing valuing assets at 5 billion $ North but spent only 1 $5.3 buy and development, and which were valued at over $ 3 by Nomura analysts recently, in September.

"They look quite significantly increased assessment versus what they spent," said Maxim Matveev, mining analyst at ING in Moscow. "They don't have a very long history of exploitation of the assets they have learned." They have yet to prove that they can resolve any technical problems. »

"I think that investors will focus on assets are now," said Mr. Zelenski. "When we bought them they were in bad condition." We've brought into our team to turn of the asset, thus now that they generate significant cash flow and the resource base has been raised.

Gold North aims to produce 1 m ounces of gold in 2013, maximum 589,000 estimated 2010 ounces. There 8.9 million ounces of proven and probable reserves and about 23 million ounces of gold resources.

Credit Switzerland and Morgan Stanley are banks lead the accord with Trioka of dialogue, the Russian Bank and Canaccord Genuity taking supporting roles.

Severstal may be followed shortly by Glencore, trader international products and Robert Friedland, the contractor of the Canadian mining industry, which float companies Placer based on the Kazakhstan in London this year. Glencore's list Kazzinc and Ivanhoe Mines de Friedland is planned in the Altynalmas list.

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Sugar producer pork prices London IPO Rusagro, Russian

Rusagro has about one-sixth of the sugar of the Russia producing market and has the fifth largest country pork farm.

The company expects to increase of 300 m $ (187 m £) in the initial public offer (IPO) and can be evaluated at up to. 08bn $2 on the list of exhibits. The funds collected will be used to finance projects to grow the business.

GDR is similar to American Depository Receipts (ADRS). A bank certificate issued in more than one country for underlying shares held by a foreign investment bank.

Rusagro has about one-sixth of the sugar of the Russia producing market and owner of the pig farm-fifth of the country. It operates also six food processing plants producing oils and fats, as well as a number of dairy farms.

The float of the company in London should be up to 17 1pc of its fairness. The company planned to list in London last year, but its introduction on the stock exchange was cancelled due to poor market conditions.

Rusagro, founded in 2003, is controlled by billionaire founder of the company and Russian Vadim Moshkovich and its family of 95pc and 5MC belonging to Maxim Basov, the current Chief Executive. It is one of the largest agricultural companies of the Russia.

Mr. Moshkovich started selling apartments, vodka and oil in the 1990s, before investing the profits in agricultural land. He is also a Senator of Council of Federation of Russia.

Alfa Capital Markets, Credit Switzerland and Renaissance Capital will advise on the introduction on the stock market, said Rusagro.

A number of Russian companies is in the registration process in London. Construction standard group company began an introduction on the stock exchange of 300 m to pre-marketing £ institutions of London, last week, and the eighth largest bank of the Russia Nomos, plans to raise 437 m £.

However, a number of Russian groups have abandoned the intellectual property offices in London due to the backdrop of market. KOKS, a pig iron and coking coal producer, closed his introduction on the stock exchange in February, market conditions in the wake of the violence in Egypt. Gold miner North had or wanted to increase approximately 680 m £ in a float of London to pay off the debts of its parent company Severstal, but postponed plans after refusing to reduce its price range.

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Mystery shopping captures 80pc of copper in London market

Unknown buyer was built in the dominant position since last week at least, to a dealer on the market.

According to the rules of the London Metal Exchange, the merchant must lend copper if it holds between 50pc and 80pc of total keep cash in day agenda on the market. The trader is currently ready for a 0 5pc premium for the cash price.

The premium prices for copper cash on delivery within three months reached $89 in the middle of this week - the highest within two years.

London stock fell more than a third since their levels at the beginning of the year.

LME Copper was stable at $8,720 per tonne this morning, after having reached a maximum of $8,732 earlier. A record price of $8,966 hit in mid-November.

Large position is not the only reason why the price of copper is high.

There are fears of a supply shortfall next year, as mine production should not at the same pace as demand bounce after the recession.

Two investment banks us and a UK company also want to launch traded exchange of funds tied to copper, which is likely to suck up the market demand.

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TMX London Stock Exchange and of the Canada agree £ 4 MD fusion

Chris Gibson-Smith, President of the London Stock Exchange said: "we announced today the creation of a world leader in the space of Exchange..." I believe that together we can provide shareholders and customers a company significantly greater than the sum of our parts. »

He said fusion arrives at an "extremely important moment in the history of the capital markets.

Groupe TMX, valued at C $ 2. 97bn (£ 1. 86bn), trade, was suspended after confirmation of talks. The London Stock Exchange is estimated to be 2 £ taken, based on closing part night last price 892 p.

The merged group could be co-headquartered in London and Toronto and continues to be supervised by its existing regulatory authorities.

Xavier Rolet, LSE leader who said that he hoped "surprise everyone in the coming years" of the when he succeeded to Dame Clara Furse, will lead the enlarged company. "" Thomas Kloet, contrary, number will become President.

Wayne Fox will be non-Executive Chairman, overseeing a Board of Directors fifteen - eight of the London Stock Exchange which should should include three of Borsa Italiana and seven appointed by TMX.

Chris Gibson-Smith, who will remain Chairman of the stock exchange in London, and Paolo Scaroni will be Vice-Presidents.

The agreement two largest shareholders of London - Stock Investment Authority and Dubai - scholarship Qatar see their 20pc half about 10pc issues each.

Mr. Rolet said: "it is an incredibly exciting merger with considerable growth opportunities." We create greater place lists in the world for commodities, energy and natural resources, as well as top market sectors of range for small, middle and growing companies.

He said that the new international leader well rather than take advantage of growth opportunities in emerging markets.

"We aim at nothing less than to become a true powerhouse in the enterprise global exchange", he said.

After years of stick away approaches takeover, the agreement is an admission tacit, can no longer go it alone.

The agreement is a response to increasing competitive pressure in the industry, which saw the LSE lose foot rivals at a faster rate.

It will create a global exchange where liquidity pools can be aggregated - bringing the price down. By sharing technology, award recipient London and TMX will improve their competitive position against venus newer, faster, in an environment where scale and size determine success.

Speed stock and derivatives trading and the arrival of 'high frequency' traders have transformed the commercial landscape, where markets have fragmented away from national exchanges. Awards are now in terms of global - as fusion of the districts of Singapore and Australian - consolidate or diversify into other classes of business, allowing the costs of it to share.

In 2007, consolidation saw the New York Stock Exchange Group buy Euronext pan-European exchange; NASDAQ buy OMX; and Deutsche Borse buy International Securities Exchange, one of the largest U.S. options exchange.

During the term of eight years of Dame Clara UK exchange pushed back five approaches to takeover, including Deutsche Borse in 2004, Macquarie Australia in 2005 and Nasdaq in 2006. This last value LSE shares at £ 12,43.

When she resigned in May 2009, Dame Clara said: "don't forget the bid we received Macquarie is eight - time mobilized and of the Nasdaq near seven - time mobilized - imagine where we would today if we had accepted either of these submissions."

After being the target of the bid, the London Stock Exchange became a Consolidator. In 2007 it purchased Borsa Italiana for more than €1 (£ 1 billion), short-circuit hopes for successful LSE Nasdaq bid. Last year it acquired rival exchange and new-blood Turquoise, update market relevance.

Transaction diluted Borsa LSE 22pc – Nasdaq game a game later sold to Dubai - and created a Board on which five 12 seats were held by Italians – more likely to oppose a takeover of Nasdaq.

The agreement with TMX has similar defensive characteristics thanks to the culture of Canadian protectionism - graphically seen in November when the investment Canada Act was used to block the $38bn (plus £ 23) BHP Billiton bid for the Canada potash Corporation.

The Canadian merger may be a surprise to the LSE nostalgic 313-year history but unlikely marriage ends UK exchange paranoia regarding unwanted suitors.

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Traders "evacuate their rage" on the London Stock Exchange glitch: quotation

"It's a bit frustrating - we had reasonable shots in these markets in the last days and one cannot trade." They have not covered themselves in glory really. »

"Traders will be ventilation rage." This is yet another glitch in the negotiation and traders who remember again the same interrupted questions about 3 hours in 2009, will be without doubt be ventilation fury this morning on the London Stock Exchange. At a time of uncertainty in markets, where traders are having to keep on your toes with the situation in Libya, the last thing that they need is an unexpected shutdown in the negotiation. »

"It is not surprising that the LSE is losing market share and it is not good PR for the company which is located in the documents not only for its merger with TMX but now also for the launch of its new pan-European trading platform." The industry is consolidating as competition between exchanges became fierce and glitches like this are not our exchange of favours lighthouse. The hope is that any mergers will quickly address these technical issues. But don't hold your breath! »

"Twice in one week with the blame game in full flow does not inspire confidence." Person really failed to comment on this till after 8: 30 am, which is worrying. »

"London seems to have to use a"Kray expression", a bit of precedent in terms of its technological systems break." I am sure that they occur elsewhere in the world, but I don't know if that it is brought to our attention in the same way. LIFFE fell down about eight years on a number of occasions to acute embarrassment not only management, but also the market, because he eventually Euronext portfolio where he seems to have lived happily ever after.

"The last time that the LSE system failed to muster was in September 2008, when it was closed for a day." Since then a new computerized system called "Millennium" has been installed - more robust, more quickly and supposedly the response to problems of all merchants. I am informed reliable installation of a double operation is implausible in technical or economic terms. I'll take this comment on their nominal value. It is very frustrating that London lives remain the financial capital of the world. "

"Systems are not infallible and outages occur, however, it is essential for any primary market, system to have a high level of Exchange time."

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Trade in London cocoa under the spotlight

This happens to a head in July last year when cocoa hit a maximum of 32 years, as Anthony Ward of Armajaro Holdings purchased most of the physical inventory in London.

Following this approach, 16 players in the European industry wrote to LIFFE complain about lack of transparency and excessive speculation driving the increase in prices on the London market.

However, prices have fallen more than 15pc since spur of 2009, when Mr. Ward, known as the finger of shock, took its dominant position causing critics to dampen.

The domination of London as a centre of commodity trading prices for products such as metals, cocoa and sugar are generally recognized as a reference global key.

But pressure from business groups recently warned that London's risk of losing its status as the place to trade in commodities.

Europe is considering whether to impose new regulations that could limit speculative trade, which warn traders may force them to pass Affairs at Singapore or Hong Kong. This follows similar stringent rules of the commodity future Trading Commission U.S. oversight body.

Despite these threats, London still has the infrastructure, such as warehouses and historical expertise in the sense that it is likely to remain a centre of commodity trading for a few years at least.

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LSE Chief said London aim at risk "jealous" European market

Xavier Rolet said it was vital for the British convince Europeans that their capitals would not benefit from a reduction in importance of London as a financial centre continental.

Xavier Rolet stated in the Commission of the Treasury as "unique" of Alternative Investment Market London (AIM) to raise funds for small businesses and fierce needed jobs against Europeans.

First banker of Lehman Brothers said that there was "rivalry" between London and other European capitals, adding that European regulators "does not include" goal success.

"London has succeeded to wire the decades and grown into a prominent centre," said Mr. Rolet. "I don't know if the Europeans hold a grudge, but I can tell you that some people see an opportunity through the process of regulatory harmonisation greenhouse return some business".

Mr. Rolet said it was vital for the British convince Europeans that their capitals would not benefit from a reduction in importance of London as a financial centre continental."If regulations are introduced that cause traders and companies leave London, which is unlikely to migrate to Paris, Frankfurt, Milan,", he said. "He will go to Asia and elsewhere.»

He told MEPs proposals for the financial restructuring of the British Columbia Colombia Government threatened to vulnerable AIM market.

Rather that divide the responsibilities of the authority list UK (UKLA) between the Bank of England, the financial reporting Council (FRC), the protection of consumers and markets (CPMA), M. Rolet argued that it must remain intact in the CPMA .essentiellement CPMA is set on the United Kingdom voice on the new super regulator of Europe, Mr. Rolet supports should also speak directly to the UKLA.

Baroness Hogg, the pattern of the RHS has previously disagree with Mr. Rolet.Mais testify to the after him, she admitted that regulatory plans were "sub-optimal."

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