Latest / Exchange Invest / 293 Exchange Invest Weekly Podcast May 3rd, 2025
Transcript
- 0:00Speaker A: This week in the parish of Bourses and Market Structure, a week of broadly poor results as Shanghai plans expanded Warehouse Network, NASDAQ goes great guns with AWS and LSEG also extends My name is Patrick L. Young. Welcome to the Boris Business Weekly Digest. It's the Exchange Invest Weekly podcast, episode 293.
- 0:31Speaker B: Foreign.
- 0:43Speaker A: Ladies and gentlemen, this is a very brief reduction of highlights amongst the key headlines from the weekend 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 bourse business and daily to your inbox. More details@exchangeinvest.com over in BitCarnage in the week when Paul Atkins became the new SEC Crypto messiah, it was important to put in perspective the remarks of his predecessor Gary Gensler for GG when he became SEC boss was also seen as a crypto messiah. After all, he championed the underlying tech in an MIT course during his CFTC SEC interregnum. In the end things went sour because inside the temple GG didn't like the moneylender, to borrow a political turn of phrase. Now out of office, GG is speaking out. Gary Gensler Takes a Shot at Crypto says market is built on 99 sentiments went a headline in the media this week, and the bit which will probably most upset the crypto bros. Is GG's headline prognosis is rather absolutely correct. There are some wondrous tokens out there with inherent value, but the vast majority are at best foolish if not utterly misguided on a range through to utterly sleazy beyond belief. There are grounds to criticize GG as SEC chairman, but actually in seeking to crack down on a crypto wild west market, he was frankly not far wrong. If you enjoyed this excerpt, you may be interested to know you can read Bitcornage every day on Exchange Invest. Alternatively, if you want to follow Bitcornage, the daily update on happenings in the world of crypto and digital assets, you can find Bitcornage as a standalone on substack in the mainstream world of exchanges, China is considering setting up overseas warehouses for the Shanghai Gold Exchange. The issue may be as much how the LME London based but sir Hong Kong owned is viewed compared to fully mainland sge as opposed to the issue of warehousing per se. Either way, an interesting push by the Shanghai Gold Exchange to monitor with interest Hong Kong exchanges itself. The parents the lme, they've unveiled a strategic investment for Paramount Group headquarters reconciling themselves within the core Hong Kong Exchanges Towers in Central in Hong Kong. Meanwhile, full march to Nicee and indeed many other exchanges across the Parish as we've had a remarkable period of volatility with broadly good uptime. Lynn Martin and op ed for CNBC notes NICE systems are working normally, handling record volume more efficiently than during the COVID crash. Great to hear. Congratulations to all in the Parish who've delivered remarkable uptime during a very busy period.
- 3:11Speaker C: Thanks for listening to Exchange Invest Weekly. We welcome your feedback. You can contact me directly patrickrivativesvision.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 Results it.
- 3:30Speaker A: Was a very busy week for results in the Parish. All the details for an Exchange Invest Daily the newsletter no person can afford to be without in capital markets in March Market Structure for the sake of this podcast, let's look at some edited highlights. It was indeed a frantic week of results. NASDAQ and the EEX produced the best numbers in the Parish by far, and tragically, a large number of people disappointed egregiously. Amongst them CME, not entirely terrific, and indeed various other players, including DB1 Boys of Malaysia and indeed the Japan Exchanges Group over in deals. One key deal to report this week Ethiopia Stock Exchange. That's the nascent bourse there. It has raised 26.6 million doll, double the capital target. That's on top of a previous round which raised $12 million a year ago. Meanwhile, Exchange Invest is proud to have launched a special edition inspired by my visit during the closing bell at the New York stock exchange on July 5, 2024. Patrick L. Young's original bestseller Capital Market Revolution was the first breakthrough book in fintech a decade before that word held common currency. It has over 10,000 new words of additional pith, placing the past quarter century in perspective alongside the original text, which has proven remarkably successfully accurate through the years. Capital Market Revolution 25th Anniversary Edition is published. Exchange Invest is now available as an ebook by Amazon Kindle at the ludicrously reasonable price of $9.99, a quarter of the price of the original shorter print book a quarter century ago. Meanwhile, if you fancy some financial insights with moving pictures, check out our live stream Tuesdays 05:00 London time, midday New York time the IPO Video Live Show Catch the back episodes on LinkedIn and YouTube via IPO video. The latest IPO vid was episode number 176 on the Future of Research. A fascinating discussion with Matthew Ringenberg and coming up next week we've IPO Vid177 with the authors of a fabulous new book on inclusive finance via Fintech, Alessandro Hatami and Megan Johnson. Our finance book of the week this week is the Anatomy of Finance, a classic tome by George Soros which presents his theory of reflexivity. In product news this week, Eurex have decided to launch futures on EU bonds At last Eurox eager to be seen as the market leader when it is really reacting to ice which took the opportunity here when DB1 deemed it insufficient. DB1 continues to lose ground by 10 of its managerial material mindset producing low risk pension paying career extension approaches as opposed to actually girding loins and taking a risk or even leading the market. One may also term this approach high very European in the current era of EU led declinism of forethought from the failing continent. Meanwhile plaudits to Euronext on getting past a perma ply bugbear A single prospectus. That's great news, albeit the problem remains at the regulatory layer where prospectus is shorthand form of spelling 1000% Total Posterior Cover for intermediaries. That doesn't really help investors, but ultimately it's very difficult to see anybody who's got the guts in the bureau democracy to cut through and deliver a better prospectus method for the future. Over in technology, NASDAQ and aws, they're unlocking the new era of growth for capital markets globally with next generation infrastructure solutions. That NASDAQ announcement came along with deepening ties with JSC in Johannesburg. Presumably. Therefore the LSEG Millennium installation there must be at risk. And indeed as well as those ancillary services there's more cooperation with bmv, Mexico and internally across the Nasdaq Nordic markets. While the core use case for AWS is strengthened with many new tools and to help exchanges into the cloud that strengthens the core NASDAQ use case. Especially with existing exchanges seeking to maintain the lustre of their brand being associated with the Nasdaq enterprise. LSEG announced a similar term extension with aws, albeit bereft of the pizzazz of nasdaq. It's almost as if LSEG has lost its mojo. One piece of relief in technology this week apx. They had a hack you may recall a few weeks ago. After a concerted investigation, they've confirmed that no email information had leaked. Finally a long awaited install regulation is complete. KRX have finally managed to complete the upgrade of the Vietnamese stock exchange system using Carex technology. Over in regulation, a lot of stories there. All the news was in Exchange Invest Daily, one that really hit the headlines even in the Brussels bugle. Republicans plan to scrap the US Audit regulator. It's a fascinating moment. Let's face it, auditing sucks. The auditing process is a wondrous coherent concept, but in the breach pretty much never. I can think of precisely zero examples manages to foresee fraud and or management of a reckless endangerment fashion, let alone seriously poor finances going forward. Having a separate regulator which further gummed up the works has not made investing safer, but it has helped a lot of bourgeois lifestyles in the cluster mass of consulting cum audit firms which have been so busy crossing T's and dotting I's that the companies they serve have frequently ended up semi became or at least bereft of a larger sum of consulting funding. That brings us ladies and gentlemen to big world. The USA alone amounts to about 26% of global GDP. US cargo ships last time there were statistics, 2019amounted to 0.4% of the world's merchant shipping capacity. There and ladies and gentlemen, lays a key MAGA choke point. And on that mysterious and magnificent note. Thank you for listening to this Exchange Invest weekly podcast number 293. Join us daily via exchangeinvest.com or if you're a new exchange marketplace you'd like build, get in touch. My name is Patrick Cal Young and I wish you a great week in life and markets.
- 9:01Speaker C: 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.