With his circumnavigation complete, Father Christmas has earned some rest and recuperation, as have all of you after a year of challenges and surprises. Looking back over the last five years of this campaign, we thought it would be fun and perhaps of interest to reintroduce an old favourite - the big xy Tree.
Tolkien had them as tall, fast runners and excellent archers. The Grimm brothers portrayed them as short but benevolent shoemakers, and the Christmas tradition as hard working folk, who with the reindeer, form a magical team of the Fast and the Fairy-ous.
Father Christmas has continued his journey west and is now on the final leg of his deliveries. Like Vespucci, Columbus et. al. (Jolson, Capone, Pacino?) he is keen to learn more about this great continent before him.
Very few people have actually seen Santa’s sleigh but there are unverified reports that it is a highly customised vintage Porsche. At big xyt we are betting that the number plate must be FC 1 (second favourite is DA 05 HER), carefully adapted to avoid those pesky but ever-present speed cameras.
RFQs - Ready for Quality Street…… Roses, Celebrations or whatever the contents might be in the festive family bowl of chocolates? One thing is for sure, there’ll be some variety at the bottom which lie there having left a bad taste in the mouth.
To finish off the week, the 12 Days of Trading 2022 continues its longitudinal leaping, this time southwards across the Alps from Prague to Bergamo, famous for its Elfredo pasta. Today’s festive topic is deer to our hearts; latency. Given the proposed changes mentioned this week, we take a look at how DVC and SI activity has changed over time, which may help us anticipate what to expect next. But hold on, it just occurred to us that this actually has a lot in common with a practice in equity markets. Managing index constituents during a rebalance with a target benchmark of the Closing Price.
Of course, Santa has plenty of friends and it looks like some people in the market have some pals in Prague as the dark caps are looking to be relaxed (if not abolished) under the Czech presidency. The restrictions around Systematic Internaliser trading could also be eased. Given the proposed changes mentioned this week, we take a look at how DVC and SI activity has changed over time, which may help us anticipate what to expect next. But hold on, it just occurred to us that this actually has a lot in common with a practice in equity markets. Managing index constituents during a rebalance with a target benchmark of the Closing Price.
Father Christmas may not have target benchmarks or KPIs but he does have to manage and deliver all the presents to the correct recipients by the end of the day. But hold on, it just occurred to us that this actually has a lot in common with a practice in equity markets. Managing index constituents during a rebalance with a target benchmark of the Closing Price.
At this time of year, we work hard to ensure that we don’t disappoint our friends and relatives on the big day. We order the food and drink well in advance, we carefully choose the gifts, and we stock up on spare batteries for the remote control. It’s all about avoiding disappointment by creating certainty.
Over the weekend Santa stopped off in Qatar to watch the World Cup quarter finals (even though it was really a business trip, it was also a good excuse for a jolly). Like the rest of us, he was drawn into the drama as penalties proved to be critical in three out of four matches.
