[00:00:00] Speaker A: This week in the parish of Bourses and market structure. Aixhkex Fascinating AI Perp Wars S&P 500 Status quo and a no show witness.
My name is Patrick Kelly Young. Welcome to the Boris Business Weekly Digest. It's the Exchange Invest weekly podcast, episode 349.
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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 subscriber Newsletter. The unique guide to the Board's business sent daily to your inbox. More
[email protected] over in bit carnage so from one mega hype to another, all platforms seem eager to offer SpaceX exposure. How much underlying do they have me thanks Kraken amongst others. Bit by bit, you name it, every bit seems to have the opportunity to trade SpaceX, but is the underlying there?
If you enjoyed this excerpt, you may be interested to know you can read Bitcornage every day on 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.
In the mainstream world of exchanges perpetual futures in the news they incite bad behavior, says CME CEO Terry Duffy. Top level domain is the CFTC rehypothecating common sense in its hasty rush to be everything the last regime was not. Perps are messy and have overly sold a retail and end up as class action suit central ltel. Noting this is not far off. The SBF FTX fraud is pretty brutal but also makes multiple sign points on the pure product skepticism level. It's somewhat of a struggle to understand the current broadly Commissioner Free Chairman Centric regime at cftc. Chairman Selig is looking ominously more like a people pleaser than a holistic seer of regulatory balance and logic. Moreover, the people he is pleasing are often frankly the kind of folks who just don't seem to believe in any regulation that is challenging.
[00:02:17] Speaker B: Thanks for listening to Exchange Invest Weekly. We welcome your feedback. You can contact me directly patrickervativesvision.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.
[00:02:36] Speaker A: The perpetual features for ago is not just about perps per se and actually therein there is a series of very worrying precedents rehypothecating risk, offshore and many many more that's the sort of thing we've been discussing at Exchange Invest this week. For the full story, drop
[email protected] Trust me, it's more than worth $500 per annum per user. In order to stay ahead of the politics, the generics, the developments in product and much more around the bourse business, join us at the watercolor of the bourse business. Exchangeinvest.com Elsewhere, Hong Kong exchanges They've expanded their Central Asian market connectivity while Hong Kong Inc. Was signing a bonanza deals with Uzbekistan and also Kazakhstan. The AIFC and Astana International Exchange have exchanged MOUs with the Hong Kong exchanges DB1. Interesting there an insider buying bonanza. What some might see as a remarkable coincidence. Literally everybody of importance around the DB1 senior management purchased stock on June 1st. Is MA looming or was it just happenstance?
Meanwhile, where other index providers are eager to include mega IPOs sooner, the S&P 500 committee is standing firm on the cool off period before mega IPOs can join the index ahead of the SpaceX listing coming later this month.
Even in litigation incompetence, ASX can't even get their court witnesses to turn up in person. And meanwhile, at the competent end of the Boris business spectrum, ICE data indices are granted recognition by ESMA under EU benchmark Regulation Spying could be the Order of the Day Polymarket believe their arch rival Kalshi could be spying in their New York City offices. There are too many coincidences, they told the New York Post. At the same time, Polymarket cut ties with hardly a bastion of regulatory competence, George Santos. As regulators were also probing trades on rival prediction markets, and Polymarket users have been crying foul after a strategy sale, market resolves to no. In other words, the usual same old same old in the rather immature world of prediction markets, no results this week but one new market hnx. That's how an exchange are going to be operating Vietnam's future carbon markets.
Meanwhile, if you fancy some added reading during the course of your week, remember we've started a Sunday supplement. Exchange Invest is now a seven day a week publishing platform. Saturdays and Sundays are
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[email protected] in the weekend. Recently we've been looking at the business of wine, and therefore our latest book of the week reflects that. Adventures on the Wine Route by Kermit lynch brings us to a singular tour along the French wine route. Venturing out to find the very essence of the wine world in products. This week EEX they've introduced the EEX530 gas spot index and traded index functionality while India is launching a producer price index. This month in a major data shakeup from government the CME, they've announced the launch of 24.7Crypto futures and options trading and China is planning compute futures in Shanghai as AI computing demand surges. That is of course following in the footsteps of the Intercontinental Exchange amongst many other marketplaces looking at compute futures in technology.
Big news here. The Nairobi Securities Exchange rather surprised all counterparties by partnering with Infotech Group they're going to be modernizing their trading, surveillance and depository infrastructure over a nine month implementation for the full stack system including matching and csd.
Elsewhere, Intercontinental Exchange has joined Anthropics project Glasswing, a vastly sought after program accepts ICE and is now bringing a new realm of advanced resilience and cybersecurity on top of what has been an abundance of approaches for the trading, clearing and mortgage engines within ICE and nicea. Another fascinating element of interactive brokers development of AI. They're integrating AI into client portfolios informed by agentic technology controlled by the client in regulation, CFTC have implemented technical enhancements to streamline product self certification. Interesting to see how that works out and in career paths. Couple of new pieces of news from emerging markets. Colin Tapfemanui Congratulations to him. He's also the Chairman of the African Commodities Exchange Association. He's been re elected to lead the SADC Stock exchanges body and at the AFM AGM in Taipei, Chairman Pat Kenney and President Chris Sergis were re elected along with board members Annalisa Guadizo and new members Azadullah Khayamov. And the Supervisory Board is welcoming Suchin Wu from Tifex, Frank Mueti from Nairobi and Peter Fredrickson of Bay Market six Group over in Big World. We have been in Taipei, Taiwan for the AFM conference. Brilliant event it was all together thanks to our hosts Tyfex and we are also excited to announce the launch of AFM's multitrends day which will be hosted by yours truly. As AFM members, we agreed last year to expand the recent Tech days into a broader format. Thus AFM Trends Day will launch this November in the magnificent historic city of Valetta, Malta. Key theme is simple how do emerging markets emerge? Well, Malta is the proof point as the host city in 1970 Malta's GDP per capita was around $828. Today World bank data puts it at $43,889 higher than South Korea and just a whisker behind France at 46,103. That is not merely growth. A small jurisdiction has become a high income European economy on a serious international platform where in the post war era it was a net exporter of human capital to Australia and elsewhere. That's why Trendsday AFM Trendsday on November 13th will focus on the trends that matter market structure, clearing, resilience technology, digital assets, sustainable link products and the practical choices that build credible markets. We look forward to seeing you in Valletta on November 12th and 13th. Registration is now open via the afm. Org website or you can also catch banners for that on the Exchange Invest homepage.
And on that mysterious and magnificent note. Thank you for listening to this EI weekly podcast number 349. Join us daily viexchangeinvest.com or if you have a new marketplace you'd like built, we are here to build your Exchange. Get in touch My name is Patrick L. Young and I wish you a great week in Life and markets.
[00:09:19] 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.
