[00:00:01] Speaker A: This week in the parish of Bourses and market structure Delay data being traded, NASDAQ level NSEL settlement afoot, Pershing ICE and a channel extension. My name is Patrick Kelly and welcome to the Boars Business Weekly Digest. It's the Exchange Invest weekly podcast, episode 359.
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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 horse business sent daily to your inbox. More
[email protected] in Bit Carnage without a Clarity act, President Trump is pushing for more crypto clarity the White House meeting industry leaders. But the problem is surely that the crypto concept of clarity is actually total domination and supplicancy by all beyond the distributed brotherhood and Plutus gets his X percent. That's how it feels to many, according to our inbox.
If you enjoyed this excerpt, you may be interested to know you can read Bitcoinage every day in Exchange Invest. Alternatively, if you want to follow Bitcoins, the daily update on happenings in the world of crypto and digital assets, you can find Bitcoinage as a standalone owned substack.
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[00:01:52] Speaker A: Over in the world of Exchanges itself, what a difference a day makes. First up, Calshee found itself on the receiving end of a lawsuit from FlightAware for alleged misuse of data in flight to dead contracts. But within 24 hours the suit had been dropped, suggesting a settlement over alleged data and trademark usage without permission had occurred.
Now Thack meanwhile, create the deal of the week arm's length ATS centric operation to build tokenized future markets and elevating Roland Chai to run the new digital arm in creating a digital liquidity network organization. Presumably NASDAQ has sidestepped the old US regulation that precludes exchange owners from directly controlling only NATs. That is of course being already worked around by CBO when it all bids the job move is also fabulous for Nasdaq with their leading digital assets manager Roland Chai being elevated to run this new digital network organization. Congratulations also to Nikolai Kozakovich who has been appointed head of European market services in Roland's Place.
63 Moons the former FTI l are preparing to settle their NSE liability in their 13 years after the exchange collapse. Indeed 13 years since I could sworn Jigna Shah said he was going to settle everybody imminently. Meanwhile, there's exciting news of a new shareholder in the Parish Release A New shareholder in Public Parish in America. Billionaire investor Bill Ackman, who previously had a stake in tasc, the Teladoo stock Exchange which he's holding at the moment, has also added Intercontinental Exchange to his portfolio with six new major companies he invested in. Also from London to Paris, she invested in S and P Global.
Good news for Chief Executive of the HKE X Bonnie Chan. Alongside her team, the HKEX itself, her contract has been renewed. Utterly unsurprising in every respect. Bonnie Chan has done an excellent job maintaining the momentum of the Charles Lee era and executing key milestones in the Hong Kong changes story. Equity options volumes have grown prodigiously among several recent product launches, while the truly revolutionary Roll Eye is on track with Chinese government bond futures trading and thus the offshore RMB gradually moving to focus on Hong Kong exchanges benchmarks. At the same time, in the general area of exchange stories, HKEX is pushing ahead on consent trading Arts Discussion as a pair of paper and indeed the ASX shareholders are finally planning a class action suit. They're looking to sue former directors over the chess project.
Unsurprising in the extreme. Polymarket and Kelsey they had a big bit of a bad week. New York City launched a sweeping investigation into both of them, causing the CFTC to invoke emergency powers to keep Calshi operating in results. It was a busy week for results in the Parish. All the details were exchange investigate the newspaper. No person could afford to be revising capital markets and market structure for the sake of the podcast, let's look at some edited highlights. Australian Stock Exchange not bad results actually. Well, given how badly that the business is managed, in fact that it didn't have any form CEO up 13.43%, not as disastrous as many ASX results at the operating revenue level, although profits were lower at least were not growing by 13%, but it's still abjectly mediocre given the wasted generation of ASX's performance. E3 on the other hand, from Brazil their second quarter results not looking too bad at all. Net revenue up 8.8%, net income up 28.2% as total revenue grew 12.2%. A very, very healthy net income leap. New Markets this week we had several new markets most importantly Indonesia to launch a mineral and Commodity Exchange in 2027.
Over in Deals it was a busy week for deals in the parish. Most excitingly, Intercontinental began and concluded their exchange sale for bonds 3.5 billion being sold to acquire Market Access.
Don't forget if you fancy some financial insights with moving pictures, you can check out our live streams which are still coming to you from the end of September. We will be back. In the meantime you can catch all the existing shows Tuesday 5 o' clock London New York time, the IPO video show, catch the back episodes on LinkedIn and YouTube at IPO Vid. And of course don't forget Exchange Invest is not Saturday. It's a week publication free on Saturdays and Sundays with the Sunday supplement being the latest edition and also during the week for more focused news about the world of exchanges itself, we are out Monday through Friday. Sign up
[email protected] our finance book of the Week Aerotropolis the Way We'll Live Next by John D. Casado and Greg Lindsay A classic of the genre. I really really enjoyed reading this one. It's an eye opening book looking at the airport becoming the center of the city built around it, the better to keep workers, suppliers, executives and goods in touch with the global market.
Our next book of the Week will be unveiled Saturday in the Weekend Edition. And don't forget, if you want all the news on the Voice business entered into your inbox. Subscribe to ExchangeInvest by exchangeinvest.com it's only $499 per annum to join the Exchange of Information Product News at Hong Kong exchanges. They're midway through the rollout of 18 stock option classes with weekly and monthly expiries. Launched its 10th of August and 17 close this past week as well as one coming up on 31st of August, the last Monday of the month. Single stock options are growing well at Hong Kong exchanges, while the potential to replicate the US Single stock equity options market well, there's plenty of opportunity therein in career paths. Interesting to see that the Capital Markets Authority that is the financial regulator, the Chairman of the Board, has been given the rank of Minister. Quite the elevation for Al Sudairi and also showing how serious Saudi Arabia is about its ongoing building of the financial center internationally. Meanwhile in Big World continuing our Big World theme on retail which has been going on for the last couple of weeks during August, our Philippine team is proud to note that at least one Manila store makes it into the world's largest shops, albeit it's not a local brand Ikea Manila in Pasay city covers some 65,000 square meters. That's just a few feet short of 700 and opened in 2021. And on that mysterious and magnificent note, thank you for listening to this EI Weekly Podcast 359. Join us daily by exchangeinvest.com or if you've an exchange you'd like build, get in touch we build Marketplaces My name is Patrick L. Young and I wish you a great week in life and markets.
[00:08:38] 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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