[00:00:00] Speaker A: This week in the Parish of Bourses and market structure. LME Hong Kong warehouse confirmed. B3CSD goes live in the cloud Is a privatisation wave looming at JSE and regulatory rumblings as Trump is inaugurated president and it's morning in America as the macro picture outshadows the parish of Exchanges this week. My name is Patrick L. Young. Welcome to the Boris Business Weekly Digest. It's the Exchange Invest weekly podcast, episode 279.
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 Boris Business and daily to your inbox. More
[email protected] over in BitcoinAge, the bros are salivating as a Bloomberg story was suggesting Trump plans to designate cryptocurrency as a national priority. This was before we even knew what was in the first hundred or so of his executive orders as he was made president, albeit the devil will be in the details come what may. After all, Trump wants us mined. Crypto. That may be a big issue for many and the minutiae will be considerable. At the same time, it is broadly good news for the crypto industry, albeit if that is the case, why is the bitcoin price still pretty static and not more spectacularly high? Asking for a friend?
If you enjoyed this excerpt, you may be interested to know that 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 Bitcarnage as a standalone on substack this week in Exchanges, a spot of Parish congratulations are in order to the now head of the Small Business Administration of the United States of America and Exchange Parish veteran Kelly Loeffler in her role as co chair of the Presidential inauguration. The funds raised have vastly there's no other word for this trumped previous inaugurations where Joe Brezhnev raised 62 million. Team Trump, no doubt thanks to the input of The Parma impressive Ms. Loeffler has raised $170 million for the inauguration of POTUS 47 and there's likely to be a total raised of some $200 million by the time all the receivables are in. If we can maintain that Loeffler induced momentum, it's clear this is indeed morning in America. In the Paris proper. There's been lots of activity in Brazil as competitors ATG and A5 line up their ducks around the incumbent monopolist B3. Having revolutionized the disparate CCP environment, Vermiculous have now got a shiny new CSD running in the cloud. Vermiculous, of course, created by the founders of the company called Sonoba previously, which deployed the various cloud systems in Brazil, Hong Kong is bridging China ASEAN Middle east as ties grow, according to a Hong Kong exchanges official this week, while in South Africa there's news of government talks to JSE about listing state owned firms as well as a possible SME growth market to be established in Soweto that marks a potentially fascinating Philip JSE and indeed a viable means to make a series of both functional and dysfunctional South African state owned enterprises become more efficient. In the newest African exchange market, success will depend on macroeconomic reforms, says Ethiopian securities exchange CEO. While in the Middle East, Tadawul, the Saudi exchange has launched a framework for fixed income market making as in Manila, the PSE has released its ESG compliance guide. One interesting cooperation on the commodity derivatives front as Colombo Stock Exchange announces a deal with the Indian ncdex. Sadly in Australia the ASX Group's monopolist woes go from bad to worse with news not only as the tech stack dysfunctional, functional for the vital process of clearing and settlement, but also According to the AFR, ASX needs to plug a $1 billion liquidity hold. The new ASIC CEO has a challenge they need to address urgently, but more on his appointment later.
[00:04:32] Speaker B: 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 we had.
[00:04:52] Speaker A: One set of results this week cracking set altogether Q3MCX results. The firm returns to a profit, revenue jumps 57% stunning results, but apparently the analysts had hoped for even more. Albeit part of this is surely just a reversion to the mean after the shambolic losses induced by management failures to replace the original NSE systems which originated under the market's founder, the now disgraced by NSCL Chigna Shah in deals. Not such a busy deals week in the parish, but all of them were in Exchange Invest Daily, the newsletter no person can afford to be without capital markets and market structure. For the sake of this podcast, let's look at some edited highlights the Euronext CEO Stefan Bujna was saying this week he still has an M and a interest in acquiring the Spanish BME or Nasdaq Nordic, but a sale of the Spanish exchange certainly was immediately dismissed by Swiss owners. Six Meanwhile, six have fully acquired Swiss fund data In a week when the Kazakhstan Stock Exchange were denying any merger negotiations with Astana International Exchange were happening, there was one big deal concluded this week. It was a fundraising with an EGM of the Metropolitan Stock Exchange confirming a fundraising infusing 238crore rupees. That's US$27.5 million from a consortium of investors old and new as the Metropolitan Stock Exchange looks to compete better with the existing duopoly of the Bombay Stock Exchange and the National Stock Exchange.
[00:06:21] Speaker B: If you're looking for more details on.
[00:06:23] Speaker A: What were the deals of the week, then you should be reading Exchange Invest. Don't forget you can sign up for a subscription for $99 for a single user license per annum. And indeed, 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. My Patrick L. Young that is 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 is now available as an ebook via Amazon Kindle at a ludicrously reasonable price, $9.99 a quarter the price of the original shorter print book a quarter century ago.
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Our Finance Book of the Week this week is Financing the Race to Space, how to Value, Invest and Explore the Universe which was of course, written by our marvelous former guest on the IPOVID show, Armin Papazian. Catch your copy now in good bookstores everywhere. And of course our book of the Week is announced on Saturday's Exchange Invest weekend, which is an absolutely free product if you want to keep up with everything that is the news in the exchange world. Of course you'll also want to sign
[email protected] for the weekend and the daily edition. In product news, the CFTC went head to head in court with the prediction markets once more this week on Nidex and Kalshi. Will this action change under a new CFTC regime? We live in some hope.
Meanwhile, Singapore based Abax is planning a lithium carbonate contract within weeks after the launch of their nickel contract. Over in technology news, while the Dhaka Stock Exchange in Bangladesh was disrupted for 10 minutes due to server issues on one market opening, the big installation news of the week was one I hinted at earlier. B3 is live with the first phase of its new cloud native CSD system powered by Vermiculous. That's a decade after B3 started placing market structure in the cloud with Sinober. Now the next gen financial tech builder Vermiculus, which shares a great many Sonober finders, is building the cloud CSD for the Brazilian monopolist. Also in Brazil this week, STT Spot Commodity and Commodity derivatives exchange solution has gone live on the Balsao Agricola do Brasil, a new agri market in regulation. Even the Brussels bugle, the folks at the FT are getting the message over the new chapter for the world post inauguration with an op ed by a US academic last week noting Wall street regulation needs a rethink under Donald Trump. In career news in Australia, which comes in the same week as the latest rounds of ASX revelations of chaos, the national markets regulator ASIC has appointed Scott Gregson as CEO. Good luck to him getting ASX under control. Meanwhile, Prediction markets Group Kalshi has named Donald Trump Jr. As strategic advisor to the prediction market firm, and Archana Vinagopal has been named as Senior VP and Chief Information Security Officer at the national commodity and derivatives exchange ncdex. But the biggest news of this podcast is clearly the elevation, perhaps temporary, perhaps more permanent, of Commissioner Caroline Pham. First amongst equals, she was elected Acting Chairman of the CFTC by the other commissioners just as President Trump was being inaugurated. Of course, with President Trump being inaugurated, it's not merely morning in America, it's noticeable how the world's axis is moving and the USA is back baby. After too Much declinism. Trump has played a blinder this week. He invited progressive Argentine President Xavier Millet amongst others. And now lots of heads of state wanted to be in D.C. not just for Martin Luther King Day, great as his Legacy is on January 20, but also Trump who was dumping a precedent. He made it clear that America is great again, for want of a better term, and invited various heads of state from around the world simultaneously. Not that you will readily know this as Trump world has been sucking the oxygen of publicity from the rest of the world to D.C. to Swiss mountaintop and I only actually just learned this myself the other day before it happened. Such was the poverty of promotion outside a limited circle. There was that thing happening in Davos, Switzerland over the same days which amounted to the true blobster ski picnic, corporate socialism and that in fourth Industrial Revolution revolution alongside climate catastrophism. Even worse, they decided to feed the whole idea as being all about AI this year, a bit tricky when actually the world's bulk of AI genius were all at President Trump's inauguration. The oxygen of publicity is with the global engine of hope, change and growth America. And it has been all week long. Davos has served only as an afterthought of the recent past, not our promising future.
Setting the agenda for the world this week, President Trump began his blistering inaugural address. The Golden Age of America begins right now. From this day forward, our country will flourish and be respected again all over the world. We will be the envy of every nation and we will not allow ourselves to be taken advantage of any longer. During every single day of the Trump administration, I will put America first.
Wow. Ladies and gentlemen, it's morning in America and the new Roaring Twenties narrative is back on track after the COVID interregnum has finally washed over us.
And on that mysterious and magnificent note, thank you for listening to this Exchange Invest weekly podcast number 279. Join us daily vixchangeinvest.com or if you have a new exchange you'd like built, get in touch. My name is Patrick L. Young and I wish you a great week in life and markets.
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