Episode Transcript
[00:00:00] Speaker A: Marking a decade without Yogi with storms and swaps in Hong Kong, there's a calypso cloud for Nasdaq and down under it's the ASX Perma crisis. My name is Patrick L. Young. Welcome to the Bortz Business Weekly Digest. It's the Exchange Invest Weekly podcast, episode 315 Foreign Ladies and gentlemen, this is a very brief reduction of highlights amongst the headlines in the week in Market Structure. All the analysis of the many events and happenings from the past seven days can be found Exchange Invest Daily subscriber Newsletter the unique guide to the Boris business sent daily to your inbox. More details exchange invest.com over in parish notes A decade ago, on Wednesday, September 24, 2015, Asriel convened for one of the final SFOA Bergenstock meetings in Geneva. On this occasion, the passing of Yogi Berra enabled a unique guest editing by the late great baseball legend. How to surmise? Well, as Yogi observed, if the world were perfect, it wouldn't be. Why not pop exchangeinvest.com start a free trial and see Yogi's boss hit for yourself in Exchange Invest issue 596 over in BitCarnage, we were talking about the Unsettled side of Stablecoins from Jeff Cutler of garp, also instantly an IPO vid luminous episode.
His journey from ATMs to cryptocurrencies was a great discussion. Anyway, the Unsettled side of stablecoins is simply a must read for a better understanding of the quirks of this concept. If you enjoyed this excerpt, you may be interested to know you can read Bitcoinage every day on Exchange Invest. Alternatively, if you want to follow Bitcoin, the daily update on happenings in the world of crypto and digital assets, you can find it as a standalone on substack. This week an exchanges merged the London Stock Exchange and NASDAQ to save the city market, says a fintech's boss with this trigger antitrust given nasdaq's EU holdings, I wonder an interesting pointer. The trouble for me is that the rampant mismanagement of Odd and his dismal team have left for me the mega cue of why bother buying a franchise where the best bits will flow semi smoothly to the USA anyway. That issue was exemplified days later when AstraZeneca abandoned NASDAQ ADRs and a London Stockholm listing to become a nicely listed stock. Has LSE any value now away from the G? Hats off to Hong Kong exchanges. Incidentally, who maintained trading through the Super Typhoon Rahasa last week. Well, the first swaps of a new era are out there in the SAR as Hong Kong firms tap new Swap Connect rule to hedge yuan rate risks and lme you got three additional new warehouses approved in Hong Kong.
[00:02:42] 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.
[00:03:01] Speaker A: In Branding news, the lseg, they've dropped the London Stock Exchange imagery from the group website. This again raised the question how long before LSEG disposes of LSE and becomes just G well, Deutsche Burze as social media to surveillance left me wondering if that means we might get a reply to our outstanding queries. Clearstream, meanwhile, has reinforced its commitment to Europe by rebranding its Germany based CSD to Clearstream Europe.
The damning indictment of the week, however, was from the Australian Central bank with its assessment of ASX clearing and settlement facilities, where assessment could easily be construed as ASX is failing.
ASX is now in perma crisis. The next step is to clean house. The Board and C Suite all have to go if ASX is to survive in any form, and the form that remains will likely be several broken up components.
Miami International holdings they announced a timeline to support trading of financial futures and MyEx features. If MyEx can find the right product mix, they have considerable pot expand further.
Meanwhile, SEBI are likely to settle key NSE cases by early October, clearing a path for a mega ipo. That means, of course it's probably going to be another eight or nine months thereafter, but at least finally something we've been waiting for longer than a generation looks likely to happen.
Don't forget, if you fancy some financial insights with moving pictures, you check out our live stream. Tuesdays 5 o' clock London midday New York time. It's the IPO Vid Live show. Catch the back episodes on LinkedIn and YouTube via IPO vid.
This week we had a magnificent panel with Hamish Adurian Anberg and Daniel Davis and while they were discussing markets in it, we've got a more focused single guest this week, Hayden Vanderpost. He's going to talk about Quantum Finance. Our finance book of the week is bank on your Neighbor, A People First Real Estate Strategy to build wealth Together by Mel Dorman, who was our guest recently on IPO Vid and really must watch. Show that this is a radical practical guide to seller financing and community based investing. Written for everyday people who are ready Financial power over in products New infrastructure supporting the evolution of the ETF market in Japan, the launch of ETF creation redemption platform Crednext Euronext launched an innovative suite of fixed income derivatives on the main European government bonds. A battle with Eurox and ICE is breaking out alongside the euro yield curve just as credit A battle with Eurex NICE is breaking out along the euro yield curve just as creditworthiness becomes a key factor amongst euro sovereign issuers. Meanwhile, a singular lack of Any issuance since 2013 certainly suggests there needs to be some rethinking of the product. Thus, SEC seeks public comment to improve rules on residential mortgage backed securities and asset backed securities.
In technology news, great week for Nasdaq. Uzbekistan's exchange Toshkent is going to be partnering with Nasdaq, a very handy win there for the US based vendor. And also Nasdaq and AWS are going to advance capital markets and banking infrastructure across the financial system with a megadeal to move Calypso, a key banking software forward in the cloud. Quite a revolution for the whole banking cap market side of software. Over in Lahore, the SEC Pakistan signed an MOU with the Pakistan Stock Exchange to get direct access to their new surveillance system which was acquired by PSX from the Shenzhen Stock Exchange. And finally, but by no means least also news from Pakistan. Pakistan's launched an EOD market data product via the Deutsche Beise platform Career Paths this week there's been reports that the White House was mulling putting SEC Chair Paul Atkins in charge of the cftc. A very peculiar precedent which was instantly denied by all parties, both the CFTC and the sec, including Chairman Atkins himself. Merging SEC and CFTC remains a dangerous remedy. Meanwhile, in a move which caught all the gossip columns by surprise and left the rest of us savoring a Tree retros 1980s moment. Retired Colonel Oliver north married Fawn hall in secret in Arlington County, Virginia on August 27th to mark an intriguing coda to the history of Iran Contra. And indeed, finally of all this week, I'm still highly entertained by the notion that the Snow White remake had a larger carbon footprint than the last Fast and Furious movie. And on that mysterious and magnificent note, thank you for listening to this Exchange Invest weekly podcast number 315. Join us daily vixchangeinvest.com or if you're a new exchange marketplace you'd like built, get in touch. My name is Patrick L. Young and I wish you a great week in life and markets.
[00:07:42] 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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