Latest / Exchange Invest / 282 Exchange Invest Weekly Podcast February 15th, 2025
Transcript
- 0:00Speaker A: This week in the parish of Bourses and Market Structure T plus A decade later, Philippine Stock Exchange hits the Philippine Dealing System's 60% ownership threshold. Bond market merger in action. Duggin in a shock move to CIBO as ICE excels and ciboe achieves stasis. My name is Patrick L. Young. Welcome to the Borscht Business Weekly Digest. It's the Exchange Invest weekly podcast, episode 282 Good Day Ladies and gentlemen. This is a very brief reduction of highlights amongst the key headlines from the week in Market Structure. All the analysis of the many events and happenings from the past seven days can be found in Exchange Invest's daily subscriber newsletter, the unique guide to the bourse business sent daily to your inbox. More details@exchangeinvest.com over in BitCarnage, it's a case of pick me like Donkey and Shrek. A lot of folks are desperately leaping around for a post in the court of the crypto kingdom. As the New York Post headline runs, everyone in crypto is begging for a spot on Trump's new Advisory council. If you enjoyed this excerpt, you may be interested to know you can read Bitcarnage every day in Exchange Invest. Alternatively, if you want to follow Bitcarnage, the daily update on happenings in the world of crypto and digital assets, you can find Bit Carnage as a standalone on Substack this week in Exchanges. Well, let's jump straight into results. It was a very busy week for results in the Parish. All the details were an Exchange Invest Daily, the newsletter no person can afford to be without in capital markets and market structure. For the sake of this podcast, we're going to look at a couple of edited highlights. Intercontinental Exchange leading the field as always. 12 month revenues up 18.8% 12 months total net income up 14.9% Earnings per share at $4.80 marked another excellent year for ICE. Compare and contrast with the relative stasis at CBOE over the entire course of the year and they were still stuck in single features figures. 12 month net income barely moving up 0.5%. EBITDA actually down 1.2%. That single figure growth at CBOE must be marked out as disappointing as the search has started for a replacement to the temporary CEO Tomczyk. Meanwhile, a couple of exciting stories in Newmarket, more details are emerging from Seoul. As new bourse operator they're going to be creating an ATS MTF kind of platform. Nextrade will be ushering in 12 hour stock trading sessions from March. Meanwhile CSD slightly confusing name that for an exchange group has launched Brazil's second clearing house. Competition is heating up against the Brazilian B3 monopoly. Not before time. Not such a busy week for deals in the parish, but one jumping forth. Finally, after more than a decade of discussion, the Philippine Stock Exchange have increased their stake in PDS, the bond market, to nearly 60% after the Singapore Exchange agreed to sell their 20% stake in the Philippine dealing system. Exchange Invest is proud to have launched a special edition inspired by my visit to ring the closing bell at the New York stock exchange on July 5, 2024. Patrick L. Young that's me. My original bestseller, Capital Market Revolution, the first breakthrough book in fintech a decade before that word held common currency, has over 10,000 new words of additional pith, placing the past quarter century in perspective alongside the original text, which has proven remarkably successful through the years. Capital Market Revolution 25th Anniversary Edition is published by Exchange Invest and now available as an ebook by Amazon Kindle at the ludicrously Reasonable price of $9.99, quarter the price of the original shorter print book a quarter century ago. Meanwhile, if you can see some financial insights with moving pictures, check out our livestream Tuesdays 5:00 London time, midday New York time. It's the IPO video live show. Catch the back episodes on LinkedIn and YouTube via IPO vid. Now online, our latest episode. We were having a fabulous discussion investing in Trump World with the incomparable Ira Harris that took place this week. And of course, meanwhile, in our Finance Book of the Week, we're looking at the Crowd. One of the most influential works of social psychology in history, the Crowd by Gustave Le Bon was highly instrumental in creating the field of study itself. You can get that book via Amazon. All good booksellers. There's links in the show Notes and indeed on Exchange Invest. Don't forget, if you want a free free glimpse of the macro world, check out Our Weekend Edition exchangeinvest.com you can sign up for both the free weekend newsletter and also our daily editions Monday through Friday of all of Xchange's information. There's a seven day free trial to that product. Thereafter, it's $500 per user per year. In product news, six in Switzerland have launched two new rolling indexes linked to the IBEX 35 in Spain and the six Sweden 30 indices. Technology news this week ExchangeNet International have expanded their investment fund coverage and enhanced their North American mutual fund data. While this week there was a slight outage in the Parish, the Korea Gold Exchange website crashed amid unprecedented investor interest. Over in regulation, the CFTC have announced a series of roundtables. One's going to be about the world of crypto and the roundtable there. At the same time they have also announced a prediction markets around table. It'll be interesting to see where that progresses under Acting Chairman Pham. Indeed, speaking of Acting Chairman Pham, she notes that the agency is ending regulation by enforcement. That should be welcome news on the week that Chairman Roston Benham finally left office.
- 6:08Speaker B: Thanks for listening to Exchange Invest Weekly. We welcome your feedback. You can contact me directly patrickrevativesvision.com with any comments. Meanwhile, if you enjoyed this show we would welcome you giving us a thumbs up. Or if you have time, a positive review will always be welcome wherever you find this podcast in Career Paths One.
- 6:29Speaker A: Big piece of news this week. CBOE have hired Megan Duggan as head of US Options. It's an outbreak of competence alert over at ciboe as the brilliant Megan Duggan reemerges. Post nice. At cboe, the issue is provided she is in charge, she can do great things. If you have to answer to the C suite of parent yes men numpties, it will include sachons. As usual, that's cibo's engine of day to day excellence, strategic nada, management, spinelessness and indeed PR void. I wish Meghan all the best. She was a fabulous guest when we went inside the Ice House last year for IPO Vid149. Meanwhile, there was a kerfuffle field by Bloomberg around acting CFTC Chairman Caroline Farm. All the analysis of that discussion which looked dubiously like a hatchet job by a news agency that ought to know better. The analysis you could read in Exchange Invest Daily. Sign up now@exchangeinvest.com in order to access the archives with that information. Incredible that after more than a decade of fiasco, new charges have been filed by the Indian Enforcement Directorate in the NSL linked money laundering case against no less than 19 brokerage firms. Will we ever hear the end of NSEL, I wonder? And that leaves us with. Well, an interesting aside, ladies and gentlemen, a fun fact about work. Over 60% of current jobs didn't exist in 1940. And on that mysterious and magnificent note, my name is Patrick L. Young. Thank you for listening to this Exchange Invest weekly podcast number 282. Join us daily for exchangeinvest.com, the Exchange of information, or if you have a new exchange or marketplace you'd like built, get in touch. My name is Patrick L. Young and I wish you a great week in life and markets.
- 8:32Speaker B: This show relates to the business of Bourses. It is not to be construed as investment advice, nor are we making any investment recommendations. Please consult an investment advisor before you make any investments. And for goodness sake, do your due diligence and do not make investments without complying with the regulations in your home state. Exchange Invest cannot be held responsible for any investment decisions made as a result of our program, which is for entertainment purposes only. The material herein is copyright Patrick L. Young at the date of publication, while our music and sound effects are sourced from copyright free sources. Thanks for listening to Exchange Invest Weekly. The exchange of information.