[00:00:01] Speaker A: This week in the parish of Bourses and Market structure Fex prediction NSE ahead biannual is best, says the SEC P3 best of all and welcome to the NYSE club as we celebrate our 13th birthday, exchange invest reaches its teenage years. My name is Patrick L. Young. Welcome to the Bourse Business Weekly Digest. It's the Exchange Invest weekly podcast, episode 345 Foreign.
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 Daily subscription subscriber newsletter, the unique guide to the Bourse business and daily to your inbox. More
[email protected] over in Bit Carnage Time for the Merge here's the bit that's going to cause the crypto Bros pain. As I have said before, this brave new world of crypto is going to be one where the big balance sheet of the guys who were around BC that's before crypto make a new world with a few blockchains in it.
QV6 has received approval from FINMA, that's the Swiss regulator, to merge their digital CSD into sixis AGA and to provide crypto custody through the consolidated csd.
Having led thought in crypto markets for years, six have realized hand lead thought again by offering a NE to the brave new world and a coherent future view that involves the best of what is new and the best of what has been around since the capital market equivalent of time immemorial.
If you enjoyed this excerpt, you may be interested to know you can read Bit Carnage every day in 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 bitcornage as a standalone on substack over in the world of exchanges mainstream. Three decades after PLY first suggested it in Australia, the upstart FEX in Sydney is looking to prediction markets down under as Peter Jessup retires from the NZX board as he joins ASX full time to help implement chess fully.
Interesting time as FEX looks for a prediction market buddy NSE are keeping the Indian IPO pot boiling even with 8% profit growth below the parage average for the quarter. But then again it's dictating a modest advisory fee for its hot to trot IPO, just 0.65% for that upcoming $52 billion IPO.
The SEC is working towards quarterly reporting becoming optional will the buy and sell side allowed with a move back to semiannual reporting. Full analysis was an Exchange Invest of course, the Bulletin of the Bourse business. Sign up for your 7 day free
[email protected] meanwhile the country Club is coming to the city. The big city at that, as a backdrop to their half of the US listings, Duopoly Nice plans a fashionable venue in a former valuable vault. A delightful tribute to dematerialization. Studio 11 wall sounds like a fabulous venue and a great way to add more value to the beautifully restored epicenter of the New York Financial Centre. Again, the full pith was in Exchange Invest. Speaking of which, Exchange Invest turned 13 years young this week. Our teenage era has commenced for the water cooler of the Bourse business.
[00:03:37] 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
[00:03:55] Speaker A: find this podcast one exciting new market this week Abex have signed an MoU to support the development of the Cambodian National Futures Exchange.
Meanwhile it was a frantic week for results in the parish. All the details were an Exchange Invest Daily and the newsletter no person can afford to be without in capital markets and market structure. For the sake of the podcast, let's look at some edited highlights. Miami exchanges rocking Q1 net revenues up 40% adjusted EBITDA up 66% terrific results alongside BSE the bond based stock exchange as was consolidated net profit up 60% 81% on revenue up 85% coinblaze on the other hand, well the everything exchange took a bit of a setback, down 30.52% revenue quarter on quarter. Pretty disastrous all round and there were many more results to enjoy throughout the course of the week. All the pith was in Exchange Invest. Sign up now. Exchangeinvest.com new markets update Hong Kong is aiming to build global commodities and gold hub amongst rising Asian demand. That's of course in addition to Abax looking to help the Cambodian National Futures Exchange. And in deals this week, one key deal Staggering numbers Kalshi the prediction market. Did they predict this ladies and gentlemen? They've raised a billion dollars at a $22 billion valuation.
Meanwhile, if you fancy some financial insights with moving pictures, check out our live stream. Tuesdays five o' clock London time, midday New York time. It's the IPO video live show. Catch the back episodes on LinkedIn and YouTube via IPO vid this week we've been having a wonderful conversation with the panel talking about prediction markets and much more. That's myself, Amberg, Mark Bettis and Dan Davis on this week's panel. Meanwhile, don't forget, if you want a full 7 day week extravaganza, you can get. In fact, it's free over the weekend, a Saturday and a Sunday supplement from Exchange Invest. Sign up for those for
[email protected] and while you're there, don't forget to add your seven day free trial Finance Book of the Week to celebrate the Exchange Invest's 13th anniversary, our verifying production team have chosen Finance Book of the Week as Capital Market Revolution's 25th anniversary edition by one Patrick L. Young, whoever he is. They say it's a clear, concise roadmap for navigating the financial revolution fueled by technology. You can download that book as a Kindle edition. This new edition was produced to celebrate ply ringing the nicely closing bell on July 5, 2024 at the New York Stock Exchange. Several new sections of ply pith to add 10,000 more words of context and the original book alongside it, which is remarkably prescient and elegantly dated all at once. As it approaches its 30th birthday, our next Book of the Week will be unveiled in the EI Weekend Edition Sunday supplement. And don't forget, if you want all the news on the Boris business sent daily to your inbox, subscribe to Exchange invest via exchangeinvest.com it's only $499 per annum. To join the exchange of information, sign up
[email protected] for your 7 day free trial over in Product. Young people shouldn't do prediction markets at all, said former FDIC boss Sheila Bair. The Wall Street Journal discussed the courage to discourage prediction markets. ABC News headline ran prediction markets promise to harness greed for the sake of knowledge, but at what cost? That's before we got to something called Ink Stick called Talking about Betting on War, the Legality and Lethality of Prediction markets, and the Montgomery County Sentinel discussing how prediction markets are redefining the rules of betting communities.
The notion underpinning prediction markets remains that we get the wisdom of crime being priced in everywhere. What fascinates me is how we end up with the ignorance of mobs in all the media speculating sick on what prediction markets amount to. How very postmodern. The National Stock Exchange of India. They're launching electronic Gold receipts to formalize India's gold market and that of course comes alongside the appetite for gold futures in Hong Kong. The gold futures market is set for a comeback as mainland China's appetite for the metal is growing. Will the fourth time be the charm for the Hong Kong exchange to list a gold futures contract?
Over in technology? Not a great week for Coinbase and aws. They had an outage that impacted Coinbase, Fanduel and various other venues for several hours of trading. Coinbase very acutely and embarrassingly their trading was disrupted within hours of their very disappointing earnings coming out. AWS is in danger of looking a touch average in the uptime for exchanges game. Not a good look. Korea Paz this week LCH limited Has appointed Carol Machel as chair. Hong Kong Exchanges announced the appointment of Frank Zhang as Managing Director Head of Commodities and as we mentioned at the top of the show, Peter Jassup's retiring from the NZX board in November because he's taken a full time job trying to help the ISC finally implement their chess replacement, a 5x exchange in Brazil. That's one of the upstarts. They've announced the arrival of former B3 director Chichiro Vieira. Interesting upheaval there.
And finally Rip, a CBOT member for half of the century who served on the board on various committees. An inductee in the FIA hall of Fame in 2023. Thomas J. Cashman RIP as a European, the failure of the European Union remains a personal tragedy. But there's no point soft soaping. What a waste of time. This engine of poverty expansion farago remains. Barring vast reform, those desperate to cling to the notion of Brexit as a bad thing for the UK trade can cling to the EU, now amounting to a mere 41% of UK exports as opposed to 44.5% in 2014. The tricky part for the Brexit sceptics is that the UK has seen not merely a 23% rise in exports to the EU. That's 5% greater than the actual growth of the EU's economy during that time, but also, hallelujah, even even higher export growth 26.9% as opposed to 23% within the EU to the rest of the world over the 10 year period 2015 to 2025.
Rest of the world remains a broad area which mostly expands its economy, in contrast to the torpor emanating from Brussels. Permainterventionism, in other words, and almost entirely despite the failed governments of multiple liabilities compens, Brexit has worked. The UK exports more to a broader more diversified number of nations as opposed to being Titanic locked to the EU's ongoing long sink. Think in absolute terms. Britain's EU trade volume surpasses its pre Brexit trade volume in real terms and the UK exports even more to the rest of the world. However, if you're the blinkered failed PM Keir Starmer, will he even be in power by the time you listen to this recording? Ladies and gentlemen, you claim it's all failed and the BBC happily parrots the lie. How very tedious when hearty plaudits to UK exporters who have prospered entirely in spite of the last decade of UK government ought to be the order of the day.
And on that mysterious and magnificent note, thank you for listening to this EI weekly podcast number 345. Join us daily vixchangeinvest.com Happy birthday to Exchange Invest. Indeed. On its 13th anniversary or even you exchange it like built. Get in touch My name is Patrick L. Young and I wish you a great week in life and markets.
[00:11:02] 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.
Please consult an investment advisor before you make any investments. And for goodness sake, do your due diligence and do not make investments without complying with the regulations in your home state.
Exchange Invest cannot be held responsible for any investment decisions made as a result of our program, which is for entertainment purposes only.
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.
