Life in a state of nature was, he observed, “solitary, poor, nasty, brutish and short” because people were always fighting. Thomas Hobbes had survived the notoriously bloody English Civil War by fleeing to France - and his great philosophical concern was personal safety. In 1651, a gentleman scholar who readily admitted that “fear and I were born twins” published one of the great books on government. John Micklethwait and Adrian Wooldridge – Bloomberg The pandemic reveals that key institutions in Europe and the U.S. The Virus Should Wake Up the West The job of government is to protect its citizens. Loh also talked about the exchange’s alliances with the Tel Aviv Stock Exchange and Nasdaq, and the expansion of its index capability and presence in the U.S. Singapore is Asia’s largest foreign exchange trading center, and SGX is seeing a merging of liquidity between its FX futures suite and over-the-counter FX. The exchange reorganized its business in July 2019 into four business and sales units: equities the newly-formed fixed income, currency and commodities unit and the data connectivity and index business. Even in a slow growth environment in the midst of COVID-19, he believes the Asian sector is poised to grow faster than the rest of the world, and SGX has been building a multi-asset exchange over the years to take part in that growth. Since FIA Boca didn’t take place this March, John Lothian News posed our questions to Loh Boon Chye, the CEO of SGX, from afar, and he responded in this video shot in mid-March. Loh Boon Chye: Singapore Exchange Expands as Asia Market Grows This week on The Spread – Eurex adds new options on an MSCI index, Craig Donohue is re-elected chairman of the OCC’s board of directors, phishing scammers use fake COVID-19 alerts, and more. In case you missed them on Friday’s holiday, below are our videos for The Spread, our weekly options market commentary, and our video interview with Loh Boon Chye, the CEO of SGX.~ SR The FIA did the right thing, and I thank them for it. The FIA saved this industry from facilitating death by cancelling Boca, which would have forever put a stain on the event for the future. It was the right thing to do and it was before all the information was available about the breadth of the virus outbreak. One final thing today, I want to thank the Futures Industry Association board of directors for cancelling the Boca conference. The boom for baby boomers will have lost its boom. Our Millennial colleagues will be ascendant. There will be a power shift in the industry to younger people as a result. The other side of this coin is that the younger and more able to survive the virus are those more likely to attend future events. And I know I am not alone as someone with medical challenges. I for one, with my pre-existing medical conditions, would be loath to attend any events until the risk of exposure is minimized. The issue here is not flattening the curve, the issue is surviving the virus. The logical expectation is that there will be no large scale events that bring people from all over the country or the world together until there is a vaccine to protect people from the virus. And a second wave of coronavirus is expected in the fall, which will present renewed issues for events. There will be many cancelled this year because there aren’t enough venues to hold a year’s worth of events in one quarter of the year. Another big event that some of the more young and adventurous in the industry have attended in the past was just cancelled, and it is later in the summer: Burning Man in the California desert, scheduled for August 30 to September 7 was cancelledĬorporate and fundraising events will continue to be pushed into the fall. The next big conference for the industry is IDX in early June. Will major league baseball return this summer? How about little league baseball for the kids? How about corporate events to inform, educate and market to clients? When will they return? That assumes that things will return to normal, which in itself is a good question. One of the biggest challenges of the virus outbreak is forecasting when things will return to normal enough for large events to be held again.
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