[00:00:00] Speaker A: This week in the parish of Bourses and Market structure loft off ASX wobbles DB1 meh coin beast DB1 adds liquidity and there's an Indian courtroom update My name is Patrick L. Young. Welcome to the Boris Business Weekly Digest. It's the Exchange Invest weekly podcast, episode 333.
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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 Boris business sent daily to your inbox. More
[email protected] over in BitCarnage, a drop of $666 million might worry some about crypto and coin in particular, but not their investor relations spiel. The headline running from Coinbase Coinbase delivers on Q4 financial outlook doubles Total Trading volume and Crypto trading volume market share in 2025.
That despite the fact that the company managed a net loss of $667 million according to CEO Brian Armstrong, the Everything Exchange is working. If you enjoyed this excerpt, you may be interested to know 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 over in the world of primary exchanges. Finally, some movement at the ASX as the chosen departee amongst the C suite is CEO Carolyn Lofthouse, who has been incompetent. But then in the again, can anybody really finger any clearly capable figures in the C suite of asx?
Her departure marks a start, albeit we've been here before, reboots have been numerous successes. To put it charitably, not so much. All the pith and insight behind this story was an Exchange Invest this week sign up for a subscription. Stay ahead of the Bourse business by reading the exchange of information.
[00:02:20] Speaker B: Thanks for listening to Exchange Invest Weekly. We welcome your feedback. You can contact me directly patrickrivativesvision.com with any comments.
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[00:02:40] Speaker A: Elsewhere A poison chalice for new equity options market entries in India while CME made a move to launch single stock futures under their own auspices in India, IEX lost another court case to defend their now lost de facto monopoly while NSE had a win which helps progress their IPO plans.
Korea Exchange they acquired Fairlabs driving AI shift across their operations in Busan, Seoul KRX made their first acquisition in 70 years as a business.
And there's more, including the first Iceclear dataed product from their prediction market investment and useful NASDAQ private market indices too. That CME single stock futures launch reminds us that One Chicago was born on May 14, 2001 and died in September 2020, broadly strangled by a relatively stringent set of margin rul which had been created by, amongst others Bill Brodsky CBO to defend their options monopoly before Bill did a backflip and became a key holder of One Chicago alongside CME and CBOT in those days separate entities.
Now CME is going it alone with cash settled features which presumably it feels confident it can self certify and add to its clearing outs. Back in the day parishioners may record Myself Ply along with Richard Sander and the late great Sir Brian Williamson are some of the only voices advocating for single stock futures out of their renaissance origins in Hong Kong at the Hong Kong Futures Exchange. Can they finally go mainstream in the USA or will the margin issue invertedly concocted via CBO in the Brodsky era continue to plague the product?
6x leverage to stock is touted on the CME SSF webpage.
Again, all the pith here was in Exchange Invest Daily over at the lseg.
How long do we have to wait until the mainstream media catch up with ply's perma Opposite point. The LSEG CEO is the epitome of out of his depth day of they're under pressure right now, fighting against the tide according to the Times. I'm Gong Xi Fachai to all our readers celebrating the Lunar New Year this week, Carlson Tong, Chairman of the Hong Kong Exchange is noting that they're going to be going full throttle in the New year of the Fire Horse.
IPO bound National Stock Exchange of India is reprieved in some way, shape or form after managing to fight off a fresh legal snag and at the same time while surviving that court hurdle, the iex, the Indian Energy Exchange had a setback as they were knocked back once again on their attempts to re establish the de facto monopoly they once enjoyed over in Korea. Nextrade and the Korea Exchange have managed to win the nod for STO platforms. The KDX consortium was led by the Korea Exchange and the next consortium led by alternative trading platform NexTrade. They're going to be licensed operating STO platforms for fractionalized stock. It was a busy week for results in the Parish. All the details were an Exchange Invest Daily the newsletter no person can afford to be without in capital markets and market structure. For the sake of this podcast, let's look at some edited highlights. Deutsche bose meh net revenue plus 2% net profit 3% 2025 net revenue 3% 2025 net profit plus 3% clearly relying on the EU to prop up the monopoly and managing via McKinsey cons doesn't cut it in the modern age. Utter mediocrity from DV1 where the one truly dynamic executive Peter writes is departing having built up ex and everything else looks utterly average at best. We mentioned the coinbase results earlier on losing a number equivalent to that of the beast in biblical jargon may lead some to conspiracy theories, while the chutzpah of saying delivers while plunging to such a staggering loss is very crypto bro I suppose over in deals it was a busy week for deals in the Parish. All the deals were in exchange to Invest Daily the newsletter no person could afford to be without in capital markets and market structure. Fidiculous podcast a couple of edited highlights alongside the KRX investment in fairlabs mentioned earlier, Deutsche Beza are buying General Atlantic stake in ISS stocks for 1.3 billion. So that means with the IPO presumably DOA as AI is eating this conflict of interest machines lunch, the management conclusion is double down. For more successful discussions in the Parish, let's move to our NASDAQ sponsored segment.
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Meanwhile, if you fancy some financial insights with moving pictures, check out our live stream Tuesdays 05:00 clock London 12:00 clock midday New York time the IPO Video live show. Catch the back episodes on LinkedIn and YouTube via IPO Vid now online IPO Vid 202 Tech A Guide to the new game of Technology Investing with our excellent guest Igor Paich. And coming this week, we're going to be live discussing the future of market tech, specifically predicting the future of market tech with Connemara EP3's Dan Davis. Our Book of the Week this week, Technical Analysis and the Active Trader by Gary Norden exposes the flaws and unreliability of technical analysis. Gary shows how and why traders will struggle to be profitable using charts and indicators. Our next Book of the Week will be unveiled Saturday in the EI Weekend Edition. And don't forget, if you want all the news on the Board's business sent daily to your inbox, subscribe to Exchange invest by exchangeinvest.com it's only $499 per annum to join the exchange of information.
Product News Energy Exchange Electronics has launched its first direct access US power derivatives for intraday volatility. Powered by Connemara EP3 electronics is a fascinating new development which demonstrates the quasi endless potential for the electricity energy complex to generate new and useful pricing and hedging tools. Elsewhere, NASDAQ are launching new private capital indexes expanding their Private Capital Solutions platform, an excellent suite of indexes to deliver more coherence and transparency private markets There was a fascinating data announcement this week as impending IPO candidate exchange Kraken announced. Kraken is integrating with ICE Chat, expanding institutional OTC access.
So many ramifications from this announcement for the future of data of data terminals and even crypto markets themselves. Also ICE have launched polymarket signals and sentiment tools, churning crowdsourced dynamic views into market opportunities. The inevitable spinoff which would be elemental to the ICE acquisition of a stake in polymarket and at multi decade I told you so po why Notes this was a reason he was pioneering this stuff prediction markets first as advocate, then as an intrad GSX co founder three decades back. The data here is fabulous and backed by real money that makes it so so so much more useful than mere opinions. Over in Regulation the Blob continues its battle to stop the prediction markets Sensing a threat to their state gambling revenues, the CFTC struck back with an amicus brief or two in defense of their right to regulate markets which until very recently they had themselves eschewed at cft.
Meanwhile in India that interesting position for exchanges adopted by SEBI as various parties seek to enter the cash and stock options markets. Bring your own cash liquidity, then you can add options. SEBI can always be relied upon to produce some fascinating twists on regulatory licensing. Over in Career Path, Laura Bailey has been appointed Eurox Clearing AG's CEO and the crypto exchange Kraken. An interesting move pre IPO has fired their CFO Stephanie Lemmerman not a good look leading into an IPO with crypto markets looking a lot less sound than they did previously. As Yui told you, they were likely to Firing a CFO is often the kind of thing that gets mentioned in investor due diligence over in Big World. Some time ago, Ply expounded on the importance of K Pop, noting that one modest segment of a sector of the Korean entertainment economy was in and of itself worth Somewhere between 15 to 25% of the entire economy of North Korea. There's scant evidence the DPRK has been enjoying a vast economic bubble of late, whereas K Pop Pop is flourishing. Indeed, K Pop Demon Hunter is that classic crossover movie that plays the whole genre in the cultural global mainstream celebrated no fewer than 500 million views on Netflix in the run up to Christmas. The chances the festive season was not all so golden, it's about as plausible suggesting soda pop was the global beverage of choice on New Year's Eve.
And on that mysterious and magnificent note, thank you for listening to this the I weekly podcast 333. Join us daily via exchangeinvest.com or if you have any exchange you'd like build, get in touch. My name is Patrick EL Young and I wish you great link in life and markets.
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