Things worth reading: 13th August 2009

Things we're reading today include ...

Today's must read

INTERVIEW: New LSE Chief Wants Less Cost, Faster Speed, Size (Wall Street Journal)

The new Chief Executive of the London Stock Exchange, Xavier Rolet, discusses the decision to dump TradElect and search for a new trading system:

"In the past couple of months, we've reviewed technology solutions
around the world and done testing. We're getting reasonably close to
picking a solution," he said.  "We want to go a lot faster. We have 2.7 milliseconds at the
moment...The goal is to increase speed to sub-millisecond for sure, and
have the ability to go even below that afterwards."

RBS spends more than £10m hiring two bankers  (Telegraph)

FSA bonus rules scaled back on fear of City exodus (Telegraph)
BOE Says Inflation May Trail Goal, Trims Rate Outlook (Bloomberg)

Recession will be the worst in modern history, Bank of England confirms (Telegraph)
Banking, business executives upbeat on recovery 
(Yahoo!)
Fed says worst of recession over (BBC)
Who Won the Recession? 
(Newsweek)

How to build a financial system more resilient to shockwaves (Financial Times)

(John) Paulson fund buys 168M shares of Bank of America  (ABC News)
(Hank) Paulson to tell his side of Merrill deal (CNN)

E-invoicing: crown or catalyst of an efficient billing process? 
(Deutsche Bank Research)

Quote of the Day
"It's not a private golf course. It's a personal golf course."
Steven Schonfeld, Wall Street Trader, on buying a $90 million house with a 9-hole golf course

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