Latest / Exchange Invest / 326 Exchange Invest Weekly Podcast December 20th, 2025
Transcript
- 0:00Speaker A: This week in the parish of bourses and market structure, cme is lost half day. The bugle says no, nasdaq is an ipo crackdown and asic flagellates asx with a soggy lettuce my name is patrick kell young. Welcome to the boris business weekly digest. It's the exchange invest weekly podcast, episode 300.
- 0:32Speaker B: Foreign.
- 0:40Speaker A: 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 Daily subscriber newsletter, the unique guide to the Board's business sent daily to your inbox. More details@exchangeinvest.com over in BitCarnage ICO, not SEC an interesting development as SEC Chairman Atkins has said that many types of crypto ICO are outside the agency's purview. There's good and bad news from Chairman Atkins in relation to the greater market structure. Seen through the prism of crypto, the alacrity, if thought through, would be welcome, but nothing I've ever witnessed in crypto digital assets is coherently thought through, I fear. At the same time, Chairman Atkins is quite right to say that network tokens, digital collectibles and digital tools aren't securities. But at the same time, sooner or later it will dawn on the crypto crypto Bros that this means the SEC does have jurisdiction over a lot of investments, which the bros have often tried to keep out of the regulatory system. 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 Bit Carnage, the daily update on happenings in the world of crypto and digital assets, you can find Bitcoinage as a standalone on substack in the main parish of exchanges. Flagellated with a wet lettuce went one rather apposite inbox subject header recording a message of disgust at the ASX Gubo. That's failure as a service disaster area receiving another de facto pass from a toothless regulator. Meanwhile, the SARS data center problem started a full 12 hours before CME markets were due to go live, according to Bloomberg. That's 43,200 seconds of not good. Caroline Crenshaw went out guns blazing with a lot of criticism for the GOP SEC leadership as Mayax announced a follow on offering from existing stockholders. Luxembourg is seeking to skewer the monobourse monomoron monoregulator approach of the eu, which has entirely lost its mind, mojo and ability to grow. There is hopefully a policy civil war brewing in the EUC's many corridors. The only way up is by embracing markets, and the easy way forward is to deregulate the ongoing strangulation of enterprise and endeavour while enabling free speech. Not sure it will all happen, but the fact the ft, which is the house newspaper of the Euroblob, is criticizing the clear abject failure of the European Union means there may be cause for new hope that Euro decline is not entirely inevitable. Even as Mississippi and the rest of the USA sprints away from the Euromalaise in an effort to head off IPOs which somehow passed the hurdles, but not the smell test. NASDAQ is seeking exceptional measures in the same week that NYSE announced it had led with seven of the 10 largest IPOs in 2025. Paving the way, the sub headline went for Digital Currency Public Market Debuts.
- 3:27Speaker B: Thanks for listening to Exchange Invest Weekly. We welcome your feedback. You can contact me directly patrickrivativesvision.com with any 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.
- 3:45Speaker A: Find this Podcast over New Markets we had one interesting new market. The Boursa Kuwait was ready by its self appointed date of Sunday December 14th to launch their startup market in deals. As I mentioned at the top of the show, Myax Mayhem International holdings announcing that launch of a secondary public offering of common stock. No company issuance entirely secondary to allow some sale by existing holders of 6,700,150,000 shares. The last data I could find suggested there were about 70.13 million shares outstanding. Don't forget if you're bored during the Christmas period, not only can you catch up with all of the weekly highlights from the EI weekly podcast, but there's also the possibility to go back through the IPO Vid Live show. Catch the back episodes on LinkedIn and YouTube via IPO vid. Now online we have episode number 196. Our IPO vid highlights the second part of a two parter. And don't forget do call back and have a look through Facebook, YouTube and LinkedIn via IPO vid to see what we have been recording in our 30 odd shows of this year. Product News the Moscow Exchange plans to launch an AI formed stock index in 2026 technology it was those CME data center woes which started a full 43,200 seconds aka 12 hours before the markets opened. STT congratulations to them. Their Exchange solution goes live in Zimbabwe and Blox markets have integrated Aaron by Adaptive to power their upcoming retail focused US Equity trading Ve over in regulation with the headline I worry people are going to get hurt in the short term. Politico interviewed outgoing SEC Commissioner Caroline Crenshaw, who has been ousted by a vindictive crypto lobby, alongside a lot of spineless political folk as well as those nakedly intent on promoting crypto at all costs. Commissioner Crenshaw deserved a second term in office regardless of her stances. At the same time, Politico and straits a remarkable degree of bias come economic illiteracy in the interview with leading questions such as one beginning this is a very fragile time in the economy and markets. All time highs in the stock market, I think very fragile indeed. Such fundamental journalistic illiteracy undermines the process, in effect reducing the impact from some credential analysis which deserves greater attention. Acting Chairman of the CFTC Caroline Pham. She's announced the CEO Innovation Council participants. It's quite a lineup. All of the major established exchanges seem to be there from the usa, plus David Schwimmer out of his depth, Dave from the LSEG and a vast array of crypto crypto CEOs too. Diarizing the meetings is going to be a challenge. Over in Career paths ESMA Chairman of Varina Ross is going to be stepping down at the end of her current term. As I recall, she was a founding staffer at esma. The UK regulatory veteran born in Germany, survived Brexit but has now reached the end of the line after a long spell with the European Union regulator and will retire at the end of her contract on 31 October 2026. Elsewhere in career paths, Hong Kong exchanges have appointed Graham Farrell as Group Chief Risk Officer and that leaves us to consider how last month Delta Air Lines closed out their centennial celebrations by ringing the iconic New York Stock Exchange bell. It's interesting to see one of a remarkable number of airlines which can claim continual operating history reaching a century of operations. The Dutch KLM markets itself as the oldest airline still operating under its original name, having been founded in 1919, while Air France traces its lineage back to claim the status of oldest airline still flying. That's thanks to dating to 1909, the foundation of Compagnie General Trans, Air France's predecessor, which created the world's first scheduled passenger flights in 2013. And on that magnificent and mysterious note, thank you for listening to the CI weekly podcast 336, our final weekly of 2025 all the best to you and yours for a happy, healthy, peaceful and prosperous New Year. Join us daily vixchangeinvest.com or if you have a market you'd like built or an exchange of some kind, get in touch. My name is Patrick L. Young and I wish you a great week in Life and Markets.
- 7:56Speaker 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 programme, 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.