Friday 1st August 2014
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THURSDAY TICKER: 31ST JULY 2014 - Standard & Poor's says Argentina is in selective default on foreign-currency-denominated debt, after the government failed to make a $539m payment on $13bn in restructured bonds. Argentina had transferred the money to the paying agent, but a US judge would not allow its release unless hedge funds holding bonds not included in a restructuring also were paid. The latest default is expected to exacerbate problems in Argentina's recession-hit economy, analysts say. This is the second time Argentina has defaulted on its debt in the last thirteen years, after last-minute talks in New York with a group of bond-holders ended in failure. Vulture fund" investors were demanding a full pay-out of $1.3bn (£766m) on bonds they hold. Argentina has said it cannot afford to do so, and has accused them of using its debt problems to make profits - In a regulatory filing made public earlier this week, and US press reports, BlackRock has begun the process of establishing a Wholly Foreign-Owned Enterprise (WFOE) in Shanghai. The firm is reportedly creating an investment advisory WFOE which will give it significantly greater flexibility and speed in executing its Greater China strategies – Shares in Chinese footwear manufacturer Feike AG have been listed on the General Standard of the Frankfurt Stock Exchange. Ten million shares have been listed at an initial price of €7.50. ACON Aktienbank AG is supporting the issue. Scheich & Partner Börsenmakler GmbH is the specialist. This is the third Chinese company to list on the exchange according to managing director Michael Krogmann. “With the IPO we have achieved an important strategic milestone. This helps us to expand our competitive position and our brand awareness in the booming Chinese market for children’s footwear as well as to realise future growth plans”, says Andy Hock Sim Liew, CFO of Feike AG - Funding pressures stemming from reduced central government capital grants and the persistence of tightened long-term bank lending are likely to fuel the English housing association sector's continued use of capital markets over the next two years, says Moody's Investors Service in a new report published today. The new report English Housing Associations: Financial Disintermediation- A One Way Trip, is the third in a series on European sub-sovereigns' financing needs and access to market funding.
Joe Ratterman

Joe Ratterman

Joe Ratterman is president and chief executive officer of BATS Global Markets, the parent company of the BATS Exchanges, BATS Options and BATS Chi-X Europe. He also holds the same titles with the BATS Exchanges. Mr. Ratterman joined BATS as a founding employee in 2005 and initially served as executive vice president and chief operating officer until mid-2007.

In 2010, Mr. Ratterman was named as one of the four national finalists in the Financial Services category for the 2010 Ernst & Young Entrepreneur of the Year® award. As one of the most prestigious entrepreneurial honors in the world, the Entrepreneur of the Year award celebrates the most influential and innovative entrepreneurs from around the globe. Mr. Ratterman was also named to Institutional Investor's annual "Tech 50" list in 2011 and 2010 and ranked #7 and #9, respectively.

Mr. Ratterman is a frequent panelist at market structure and trading conferences and also comments frequently via newsletters to the industry. To read his latest commentaries, please view the latest CEO Newsletters.

Prior to joining BATS, Mr. Ratterman was vice president of business development at Tradebot Systems. Previously, he was chief information officer at LabOne, the Lenexa, Kan.-based health screening and diagnostic testing company now owned by Quest Diagnostics. Before joining LabOne, Mr. Ratterman was chief technology officer at Bridge Information Systems and Reuters, where he was employed from 1990 to 2002.

An accomplished water skier, rock climber, professional photographer, and instrument-rated commercial pilot, Mr. Ratterman holds a degree in mathematics and computer science from Central Missouri State University, as well as Series 7, 24, 27, 55 and 66 licenses. He is also active in the local community as a member of the Kansas City Public Library Technology Advisory Board and the Angel Flight Central Board of Directors.

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