[00:00:00] Speaker A: This week in the parish of Bourses and Market Structure. New Indian rules post chain street day back all Turkey lifts, short selling restrictions, FINA advance on Zagreb. There's a new NSE chairman signaling IPO advances as Pisces deploys a fishy tail My name is Patrick L. Young. Welcome to the Boris Business Weekly Digest. It's the Exchange Invest Weekly podcast, episode 312 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 for the past seven days can be found in Exchange Invest's daily subscriber newsletter, the unique guide to the boast business sent daily to your inbox. More
[email protected] over in BitCarnage well, we're discussing A Tale of Two Cities this week. In one, the Trump family amassed a $5 billion fortune after their crypto launch, which I must admit leaves me feeling very uncomfortable and CNN is quasi complaining. But I also like the city state sir and the mainland playing cryp a bit more cool. China's incubating crypto in Hong Kong, but the city's strict rules are frustrating. Entry if you enjoyed this excerpt, you may be interested to know you can read Bitcornage every day and 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 Bitcoinage as a standalone on substack this week in Exchanges. The according to their own agate prop. Incredible. Hugely in demand LSE private market Pisces has launched and is priced at free, which raises more than merely antitrust pricing issues, but also the thorny question that if this is the future, why can't LSE find customers willing to pay for it? It's an ill considered, some might say half baked, relatively amateurish play by a desperate lse.
Over in Hong Kong there's a probe of exchanges and watchdog staff with insider trading allegations. Echoes there of last year's Tokyo Stock Exchange situation where an employee and his father had been convicted of insider trading. London's bul billion market is looking at trialing digital gold. That's the latest initiative by the World Gold Council cum attempt to justify its existence. Whichever your preferred bent on the WEC and this story over in India, Jane street has challenged the Indian regulators market manipulation claims at the same time as there being all sorts of kerfuffles over data, who shares what, etc. With allegations that SEBI have been withholding data from Chin Street.
Meanwhile, the Texas Stock Exchange is close to securing SEC approval, according to one of his executives. The issue is to what end the Texas Stock Exchange will work. One man who was a total voice for Israel and a voice for the parish of exchanges this week, Bill Ackman rang the opening bell at Taser, the Tel Aviv stock exchange in support of Israel's economy, noting that owning an exchange is like owning a royalty on the success of a country.
In a week when London was crippled by underground train strikes. The IPO pipeline in London is building, says the London stock Exchange Group CEO. Hopefully one of those IPOs is an app company delivering driverless tube trains.
[00:03:36] Speaker 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.
[00:03:53] Speaker A: Find this podcast no results this week, but in new markets. Various kerfuffles Ukraine again discussing plans for a new stock exchange. We would all like to have faith in that initiative and predict it has gained CFTC approval to launch a regulated exchange in the usa. Over in deals much busier a deal's week to savour in the parish. All the deals were in Exchange Invest Daily newsletter no person can afford to be without within capital markets and market structure. For the sake of this podcast, let's look at some edited highlights. National Commodity Exchange of India they secured the $50 million. That's 500 crore rupees in investors such as Citadel and Tower Research amongst them. Very very exciting move. Fina have advanced their takeover bid for the Zagreb Stock Exchange with a regulatory green light. That means we're one step closer to FINA. H already owns the CSD, creating a unified Croatian silo puro earth. They've secured 11 million euros in series B funding led by NASDAQ with participation from Fortem Innovation and Venturing to strengthen the supplier infrastructure. Very good news there, of course. Puro Earth Chairman Frederick Ekstrom was our guest on IPO vid number 052 discussing pure carbon. What else? NASDAQ Transforming Emissions Exchanges Vest IPO Vid is back. If you fancy some financial insights with moving pictures, check out our live streams. Tuesdays 05:00 London time, midday New York time. It's the IPO video live show. Catch the back episodes on LinkedIn and YouTube via IPO vid not online. We've got a magnificent IPO vid from DC Washington DC that is all The Way to Argentina with the Fabulous Policy Wong. Dan Mitchell Great discussion of the melee revolution amongst other things in that show. Don't miss it.
Finance Book of the Week the Blunders of Our Governments by Anthony King. It opens our eyes to the worst government horror stories and explains why the British political system is quite so prone to appalling mistakes. A very, very readable tome, ladies and gentlemen. Try and pick up a copy via our links to the good folks at Amazon so you can read it asap.
Over in Product News, Nasdaq is proposing changes to its listing standards at the same time as promoting tokenization of stocks. Turkey has ended its short selling ban as stocks have been recovering from recent political chaos. Mexico's stock exchange is launching options on US tech giants and eyeing a market revival. And at the same time BME have launched European style cash settled options for years, something that PLY has been advocating for in technology. The Thai stock market launched a new partnership with NASDAQ after frenetic debate amongst the vendors set goes for a NASDAQ upgrade. Nasdaq, Verifin and Biocatch have formed a strategic partnership to accelerate the global fight against financial crime. And then there's the case of Gary Gensler's text message. Avoidable errors at the SEC led to the loss of their former chairman's texts.
Traditionally the SEC had no truck with people losing data in the private sector. So what's it worth to Gaza? I don't know. A few million and ritual humiliation. He can't just blame his IT department and not therefore have the entire SEC fined. Clearly to keep up with SEC practice in the private sector.
Meanwhile lseg, they've got to share a little bit of roof space. Pisces may be free for free with impunity, but after years of argument, finally LSE must give away a few inches of tiling on the roof to the competition so they can get faster access to the LSEG regulation. A very interesting read. Go check it out on the CFTC website. The farewell address of Commissioner Kristen Johnson, who therefore leaves la flam fatale as Acting Chairman and the only Commissioner. It was an excellent address as Commissioner Johnson departed CFTC and leaves behind some splendid perspective that needs to be considered in the inevitable cyclical progress towards what will sooner or later prove the next bubble. Here's hoping it's not one at least partially inflated by regulatory omission.
Meanwhile, fighting talk on the Spring 2025 Unified Agenda from Acting Chairman of the CFTC, Caroline Pham. Perhaps it's not fighting talk, perhaps we might call it campaigning talk coming from the Acting Chairman who seems eager to fill the role that no longer looks to be going to the nominee. Brian Contents as sick in Australia they've admitted their own rules were too complex. They've deleted 9,000 pages of regulatory red tape. It's a start at least to have both an admission of bloat and 9,000 pages withdrawn. Then again, one might add, how come they had this many rules and it took so long to discern the ASX were even worthy of further examination at a time when many would have said they had been brazenly inept for years? Questions remain forever. ASX over in career paths the nse, the National Stock Exchange of India, they announced a new director and within a week they announced they're going to appoint him as chairman. Srinivas in Jetty with a blue ribboned pedigree as a regulator, is going to become the new Chairman and is a public interest director and that looks like he's the key candidate to lead as an Indian blobster of perfect candidacy. The NSE into its long awaited ipo the Jamaican Stock Exchange they finally managed to find a new leader as well. The former Deputy Governor of the Jamaican Central Bank, Livingstone Morrison has been appointed after a lengthy search to identify the successor to the two decade term of CEO Marlene Street Forest, whom you wish well in her retirement. Finally, also a leadership transition in Sweden. Over in Stockholm, SCILA have announced that after 17 years in the role, their chief technologist Technology Officer is stepping down to transition to a full time position as Senior Technology Advisor while fellow co founder Bjorn Turnquist will assume the role of Chief Technology Officer.
Meanwhile, in big world, the best part of chancing through Miami Airport the other week wasn't merely the lure of Turkish Airlines fabulous service en route to Istanbul. Rather, the chance was to pick up a collector's piece, the highlight of the fashion print year, the September issue of US Vogue, the last to be edited by that doyenne of fashion magazine's Anna Wintour. The with La Wintour taking up a wide ranging editorial direction role. Her successor is the fascinating Chloe Mal, the daughter of brilliant actress Candice Bergen and the sublimely talented polyglot director Louis Mal. The new editor of Vogue has quite a pedigree. One thing not widely reported by the media who went all Murphy Brown assaults Le Chaffaut breathless, depending on their origins in Frankophony or the Anglosphere, is the origin of the Mao family fortune. Frankly, I think people have in more feverish times been cancelled for less. The Mao dynasty was enriched by trading in that sinfully addictive bearer of flab and progenitor of cellulite. Yes, something anathema to the longevity of a career Vogue model, judging from their slender hips. Sugar. And on that mysterious and magnificent note, thank you for listening to this EI weekly podcast number 312. Join us daily by exchange invest.com or if you have a new exchange you'd like build, get in touch. My name is Patrick G. And I wish you a great week in Life and Market.
[00:11:22] Speaker 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.
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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.
