[00:00:00] Speaker A: This week in the parish of bourses and market structure, 6 makes a tip nse prices, ipo, nasdaq, kraken on texas rising and db1 euronext.
My name is patrick l. Young. Welcome to the bourse business weekly digest. It's the exchange invest weekly podcast, episode 363.
[00:00:32] Speaker B: Foreign.
[00:00:42] Speaker A: Good day ladies and gentlemen. This is a very brief reduction of highlights amongst the key headlines from the weekend 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 Boris business sent daily to your inbox. More
[email protected] Last weekend we were of course remembering September 11th. RIP all those thousands who died, both from the financial industry and all related support areas. You can catch our own unique insights 25 years on from 911 in our weekend edition, which is free to read via exchangeinvest.com over in BitCarnage Payward HO Nasdaq was both the headline story for Bitcarnage and our sister parent title Exchange Invest. Nasdaq deepening their relationship with payword to advanced tokenized equities and ozone infrastructure. An interesting move towards NASDAQ's tokenized equity environment as Nasdaq Ventures announces an agreement to invest $100 million in payword, the parent company of Kraken. If you enjoyed this excerpt, you may be interested to know you can read Bit Carnage every day and Exchange Invest. Alternatively, if you want to follow Bit Carnage, the daily update on happenings in the world of crypto and digital assets, you can find Bit Carnage as a standalone on Substack in our main stories this week. It may not be as deep as an EU consolidated tape, but Six is bringing together its Aquis and BME feeds alongside the Swiss market itself to create an ingenious, cost effective solution for many EU equity investors.
What an interesting move by 6. Meanwhile, an IPO price around $46 billion market cap NSE of India is the biggest exchange IPO since crypto entity Coin, but its price history will hopefully be a lot less volatile. Nonetheless, some folks upset at the fact that it didn't price higher. Which just goes to show that private markets may not be the places to find liquid transparent accurate pricing. It was a fascinating deal. As mentioned at the top of this show in Bitcoinage, Nasdaq Ventures making a big ticket investment in Hayward to progress their ambitions for tokenized equities via Kraken. A terrific deal. Nasdaq Ventures investing $100 million in Payward parent company Kraken bringing the Nasdaq approach to tokenization along US trading hours a leap closer. Hayward, meanwhile on this round, is valued at $21 billion.
Texas Stock Exchange has won its first gaggle of listings, albeit companies which are controlled by a near 30% shareholder in yes, you've guessed it, the Texas Stock Exchange.
Stefan Bujna has suggested an EU mega merger between Euronext and DB1. What a curious conundrum. Antitrust anybody, given the fact the Last few times DB1 went to try and buy anything they were knocked back this one absolute against all possible competition rules. But then of course there is the European Union's recent madness where it suggested a monobourse for Europe. Worth remembering that even communist China manages to get along with four stock exchanges, whereas the European Union has thought about having simply one elsewhere in the week the CME Group are launching CME Securities Clearing on December 7th to expand clearing capacity, choice and capital efficiency in the US treasury market. Not before Time and IEX's options platform has managed to go through its final tests. The Flat Flash boys are about to go three dimensional with their options market imminently Terrific news for the already stunningly diverse U.S. stock Options Exchange business.
[00:04:08] 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.
[00:04:27] Speaker A: Over in Namibia, Tian Bazouin is presumably a very happy man as he's overseeing the demutualization of the Namibian Stock exchange that got the vote to move forward this week while in Hong Kong Stock Connect expansion plans are including more tech stocks, a greater role for REITs and indeed RMB. Yes, Chinese Yuan counters.
Elsewhere, Hong Kong exchanges and LME have been named in new claims by Elliot over the 2022 nickel trading suspension. The nickel nightmare still rumbles on the courts, even though Elliot were summarily dismissed in their previous efforts.
Nasdaq, Bose, Stuttgart and others, meanwhile, are urging the EU to rethink the $100 billion DLT cap for market capitalization. The initial 6 billion proposal was derisory. The 100 billion cap simply shows how unserious the EU is about CMU or any other form of financial future for Europe beyond mean regression to mud huts in deals this week it was a busy week for deals in the Parish. All the deals were in Exchange Invest Daily, the newsletter no person can afford to be without market structure and capital markets for the sake of this podcast. Two edited highlights Deutsche Burze they have launched and indeed completed the successful completion of 600 million euros of convertible bonds and S and P Global led a strategic investment in CAICO, extending the Series B to $110 million. Don't forget of course what we were discussing at the top of the show. Nasdaq Investing in Payward Kraken.
Meanwhile, if you fancy some financial insights with moving pictures, check out Our livestream Tuesdays 5 o' clock London time, midday New York time the IPO video live show is dropping. Catch the back episodes on LinkedIn and YouTube via IPO vid. Don't forget too that nowadays Exchange Invest is a seven day a week platform. Saturdays and Sundays and Macro Read are free. You can sign up for
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Our Book of the Week this week the Buried City Unearthing the Real Pompeii by Gabriel Zuchtrigle about Pompeii, the thriving Roman trade hub with a booming economy, a wealthy merchant class, prime real estate until a volcanic eruption from Mount Etna wiped it off the map overnight. In product news this week, CME are entering the European dairy market. They've acquired the EEX dairy products, an interesting diversiture under the new EEX management. At the same time, EEX have launched new handy size freight features and Kraken is amongst those in the US who filed with the CFTC for perpetual futures products.
At the same time, NSDL and CDSL, the two mainstream CSDs of India, they've launched DMAT 2.0 for tokenized securities and CBDC settlement. A chain reaction rippling through India.
Finally news of one person getting their perpetual futures approved that is admittedly an overseas board of trade. The Singapore Exchange have been cleared by CFO FTC for US institutional access for their Bitcoin and Ether perpetuals. In technology, SEBI has stepped up an AI tech bush Chairman Tuhin Kantapande flagging the risks and saying accountability cannot be outsourced. While an IT system glitch hit major brokerages in Korea just ahead of the KRXs after our market's launch in Korea, PA's Ashish Chauhan, who's riding the wave of the NSE IPO right now, he's denied the buzz on the that he might be taking up the job of Chairman of Tata.
At the same time, China has handed a former securities regulator, Wang Zhanjin, a life sentence for bribery. The former Vice Chairman of the China Securities Regulatory Commission gets a full term sentence. Various former regulators have also been arrested of late. The full story about that was of course in Exchange Invest cme, they've announced some leadership appointments. Jack Tobin becomes Chief Financial Officer. He is stepping up as Lynn Fitzpatrick. The CF becomes CEO as Chairman. L tell becomes just Chairman and no longer CEO. John McCasey has been named General Counsel. Matthew Render has been appointed Chief Accounting Officer.
Meanwhile, the most first world of all commodity squeezes at the moment has its origins in a fiefdom of currently squeezed socialism. Embargo maneuvers led by the US Government and its Cuban American Secretary of State Marco Rubio have left Cuban cigars in acutely short supply. Air cargo is DOA internal Gasoline powered transit is tricky with prices spiking due to a lack of Venezuelan subsidized oil and shipping is proving a challenge as the kind of freighters which are willing to visit Havana generally lack cigar friendly transit facilities.
And on that mysterious and magnificent note, thank you for listening to this EI weekly podcast 363. Join us daily vixchangeinvest.com or if you have a new exchange you'd like built, get in touch My name is Patrick L. Young. I wish you a great week in life and markets.
[00:09:38] 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.
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.
