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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 Β£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 
Fed says worst of recession over (BBC)
Who Won the Recession? 

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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About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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