125 Exchange Invest Weekly Podcast December 18th, 2021

Transcript:

This week in the parish of bourses and market structure:

Tadawul make a strong Debut as Abu Dhabi Stock Exchange and Dubai Financial Market announced plans to be fully Monday to Friday, five days a week from the New Year.

Over in Hong Kong senior regulator, Ashley Alder is seeking a “Carbon Connect“ and the unified Vietnam Exchange (VNX) launched in Hanoi and Ho Chi Minh, as Nigeria’s CCP Clearing House also got underway.

My name is Patrick L. Young.

Welcome to the bourse business weekly digest.

It’s the Exchange Invest Weekly Podcast Episode 125.

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 of the past seven days can be found in Exchange Invest daily subscriber newsletter, the unique guide to the bourse business sent daily to your inbox.

More details at ExchangeInvest.com.

Investors are looking past the US-China row to the growth potential of the Chinese state. That’s the view of Hong Kong Exchange’s boss and Nicolas Aguzin.

Speaking at a conference in the cities state of Hong Kong itself, elsewhere, Abu Dhabi Securities Exchange and the Dubai Financial Market announced new trading weeks. It’s a whole new work week revolution in the UAE: where many entities may close at lunchtime Friday, including the government – markets will opt for a full-day trading session until 3 pm, five days a week with the open at 10 am local time. Of course the burning question now across the UAE is, will the Friday buffet become a Saturday pastime… or will the government workers be doing it twice a week as the financiers monitor the market close?

The City of London is in danger of becoming a ‘Jurassic Park’? That was what the week summarised what is a London – and indeed European – a problem at decaying stock market product content that looks fit to be branded on Instagram but beyond that doesn’t really influence global growth.

Congratulations to the Nigerian Exchange – the Nigerian capital market has launched its Central Counterparty exchange, thus enabling derivatives trade within Nigeria.

Elsewhere the Bangladesh SEC they have asked the Dhaka Stock Exchange and the Chittagong Stock Exchange to be listed on their own stock exchanges in the near future. And finally quick resume from the Beijing Stock Exchange which is only several weeks old already. A total of 82 companies had listed on the Beijing Stock Exchange by December the 8th covering 25 sectors of the Chinese national economy with a cumulative transaction volume of 43.02 billion yuan ($6.76 billion). Pretty impressive all around for an early starter exchange in only its second week.

Speaking in markets that we’ve written off, five new firms are going to list on the Victoria Falls Exchange. Those dead on arrival at launch obituaries of Zimbabwe’s US Dollar-denominated exchange might yet be proven wrong.

No results this week, but it was a busy week for new markets. All the details were in Exchange Invest, the watercooler of the bourse business. The newsletter no one can afford to be without in capital markets and market structure.

Singapore Exchange chain has launched a new digital “Gold-Trading Platform”.

Its platform brings more liquidity to the real estate market. … Realto was co-founded by CEO Brian King, a former BATS Global Markets executive,

Realto – they’ve launched a platform to trade real estate and other illiquid securities. They’re not to be confused with Rialto which was, of course, the company run by Shari Noonan who is currently crowdfunding and indeed, Shari Noonan was our guest on a recent IPO-Vid.

The Johannesburg Stock Exchange, they’ve launched a private placement platform, finally enough called JSE Private Placements (JPP) while the Brazil Stock Exchange B3 is planning to enter the crypto market in 2022, according to reports.

A big deal of the week, of course, was that Saudi Stock Exchange listing Tadawul soared on Debut after their $1 billion IPO launching almost 10% above the listing price, with excellent news coming through the pipeline and including the concept that they look to have 50 IPO applications coming in 2022 as well as the Saudi bourse considering SPAC listings.

SBI – they’ve announced a crypto joint venture with the Swiss digital exchange SIX that’s the SDX arm of SIX presumably, that’s going to be a Singapore joint venture which explains why Jos Dijsselhof, the SIX’s CEO was presumably so keen to say positive things about the City State, only recently.

Speaking of Rialto, not the Realto we mentioned a moment ago doing real estate but Rialto the company we were talking about just the other week, Shari Noonan actually announced her investment opportunity on December 8th on Netcapita. There’s a regulation, a crowdfunding round going on there in that private market platform.

Don’t forget, you can of course catch her Livestream. The IPO-Vid Livestream she was guest number episode 041: IPO-VID Livestream guest 041: The New Frontiers of Private Markets which is available on YouTube.com IPO-Vid with all the details of all of our other excellent live streams to be found there, including our most recent guest the final one of 2021, Jos Schmitt of Neo which has recently been sold, of course, to the Chicago Board Options Exchange (CBOE).

One interesting listing this week adding to the parish the – Norwegian Block Exchange has listed on Euronext growth.

Don’t forget you can still pick up a copy of “Victory or Death” – Blockchain, Cryptocurrency and the FinTech world. COVID-19 has proven a killer even though Omicron might not be as deadly as most strains. Hopefully, it’s the strain that finally sees the breakthrough and the dissipation of this horrible virus. Anyway, is it the fact that the impact of FinTech is going to be more dangerous in the long term towards your career? Well, it’s a “ Victory or Death” – world of risk and opportunity. Victory or Death is published by DV books and is distributed by Ingram worldwide.

In crypto land this week: Binance has shut down their Singapore Cryptocurrency Exchange. But at the same time, their CEO CZ has said that Binance is not leaving Singapore.

Elsewhere in slightly confusing messaging, Coinbase mistakenly told some customers this week they were billionaires, a ‘display issue’ was subsequently resolved. At least now in the case of Coinbase, I presume academic researchers can do a PHD in which is more traumatic to the end-user having your data hacked from Coinbase and finding out only weeks later, or being told in real-time by the platform that you’re a billionaire when you clearly aren’t.

Upbit operator Dunamu – they vowed to go global and Tokenise is launching a regulated stock exchange for all forms of security tokens.

Product news: this week’s highlight certainly was Sweden’s announcement of their spectacular IPO numbers. They have joined Europe’s big league for listings in a record year. Perhaps it’s not swagger, which brought Sweden to the fore as the last civilisation standing while all others locked their citizens down North Korean style during the pandemic. Whatever the reasons happened to be I would say a lot of it’s done to good old fashioned diligence on the part of team members such as Erja Retzen and Adam Kostyal et al at the Nordic Scandinavian bourses’. NASDAQ Nordic has become a listing powerhouse and proven the Parish advantage of open free markets, raising capital to develop businesses. So good to see well done to all at NASDAQ Nordic!

ICE – they’re saying their new midland WTI futures contract will go live in late January. I say farewell Cushing, Houston, here we flow…

Technology news: well, ICE dominated that too with their Introduction of reference data for the leveraged loan market, and Interactive Brokers have launched ‘IMPACT’ – a mobile trading platform for socially ‘impactful’ investors.

Crowdfunding: quick move, Kickstarter is looking to go onto the blockchain. In other news, Kickstarter faces backlash over its partnership to enter onto the blockchain. A lot of obituaries being written for peer-to-peer lending, as well as a Zopa – the UK pioneer in the sector, has announced its withdrawal as it just can’t find a way to make money.

Career paths this week: Deutsche Börse – they extended the board mandate of Gregor Pottmeyer, and at the same time his former colleague Hauke Stars, she’s reappeared, she’s now going to be the head of group IT for, none other than, that household name, Volkswagen.

Ladies and gentlemen, it leaves me only to say a fond farewell. First of all a fond farewell for Christmas. We wish you a very, very happy Christmas a wonderful festive season. And we’re looking forward to seeing you in what we hope will be a wonderfully beautifully distributed in equal measure healthy, prosperous, wise, and wonderful 2022!

But let me say a farewell as well this week ladies and gentlemen to a man who only joined the parish at the tail end of his epic career, but the impact of David Buick has been felt for years as a larger than life figure in the City of London. After a career spanning back to 1962, a mere 59 Professional years on he is hanging up his hat. Having in recent years been a public face for Aquis. All the very best to David!

And on that mysterious and magnificent note. Overall it’s beginning to look rather like Christmas is around the corner. So we’re going to wrap this podcast until the new year.

Ladies and gentlemen my name is Patrick L. Young. Thank you for joining me. I wish you a great festive season and a happy new year in blockchain, life and markets.

LINKS:

Investors Look Past US-China Row To Growth Potential, Says HKEX Boss Nicolas Aguzin
South China Morning Post

Abu Dhabi Securities Exchange Announces New Trading Week
ZAWYA

ADX And DFM To Adopt Monday-To-Friday Trading Week
The National

The City Of London: In Danger Of Becoming A Jurassic Park?
The Week UK

Nigerian Capital Market Launches Central Counterparty (CCP)
Thewill News Media

DSE, CSE Asked To Be Listed On Stock Market
New Age

Beijing Stock Exchange Gives A New Boost To SMEs
China Daily

Five New Firms To List On VFEX
The Herald

SGX Chain Launches New Digital “Gold-Trading Platform”
PR Newswire

Realto Launches Platform To Trade Real Estate And Other Illiquid Securities
The Business Journals

The Johannesburg Stock Exchange Launches A Private Placements Market
African Markets