[00:00:01] Speaker A: This week in the parish of bourses and market structure, nse well bid clarity bill is dead. No nse self trade, but the nse ipo is strong as asx introduces reshuffle number one. My name is patrick elliott and welcome to the borscht business weekly digest. It's the exchange invest weekly podcast, episode 364.
[00:00:32] Speaker B: Foreign.
[00:00:44] Speaker A: 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 on Exchange Invest Daily subscriber newsletter, the unique guide to the Boris Business and daily to your inbox. More
[email protected] over in Bitcornage clarity is finally DOA government truth broken, stated one crypto billionaire on the death of the Clarity Act. Good grief. Well what can I say when you can't buy influence anymore. I mean, what is democracy good for in the macro headline? As we told you months ago, a majority for the Clarity act was not remotely viable with the Democrats sensing midterm victory and Potters increasingly tainted as troughing from crypto. Ultimately, not even all the GOP supported the bill while the vote was a vapid 5049 where 60 votes were needed. If you enjoyed this excerpt, you may be interested to know you can read Bitcarnage every day in Exchange Invest. Alternatively, if you want Fuller Bitcarnage, the daily update on happenings in the world of crypto and digital assets, you can find Bitcoinage as a standalone on Substack in the mainstream of exchanges this week. Very strong and very encouraging institutional appetite for the NSE ipo, driving the issue to a guaranteed success. Meanwhile, the SEBI Chairman has been confirming that no application was made and anyway, it's too early to decide on NSE trading its own stock, so the listing will take place on bse, the deadly rival of nse at the same time. Woah lassa lack say the Crypto Bros As I started the show with bit carnage. The blamestorming is distributing after the failure of the Clarity act as expected by Exchange Invest in Bitcoinage months ago.
[00:02:22] 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.
[00:02:41] Speaker A: Down under the COO is out, there's a new CFO and a fantastically fascinating Trans Tasman move as the former New Zealand Exchange CEO Joins ASX the Anthony Attia era has begun with a bang and its first round of cleansing the C suite of the incompetent asx.
Meanwhile, Hong Kong faces pressure to speed up trading Arch review after South Korea's moves recently, according to the South China Morning Post, Seoul proves more nimble amongst other regional financial centers. True, SCMP has a history of complaining about HKEX without huge justification, but then again, many in the SIR remain concerned about the relatively vast bureaucracy within hkex. Hong Kong retains a heft so can still only dream of. But then again, Korean stores are pushing a branding exercise around the world that Hong Kong lacks. Which brings me back to K Pop as a central theme to my keynote offside presentation this season. And what a joy it was to be in Macedonia this week where this podcast is being recorded. In fact, keynote addressing the 25th anniversary of the 30 year old Macedonian stock Exchange NASDAQ Iceland Great leap Forward. There they've announced the introduction of the central counterparty clearing service for the Icelandic equity markets. At the same time Robinhood have entered IPO underwriting. Can that that be the next growth avenue?
I wonder about this. Stock underwriting is, in my humble opinion the most outdated element to stock issuance, a Dickensian precept which has become utterly irrelevant. The fact Robin Hood are in it only convinces me. Further, it's a boondoggle for intermediaries which market structures would be wise to disintermediate. Berser Stuttgart has renamed its subsidiary BX Digital to Saturn X and thus we wave farewell to Switzerland's other lasting stock exchange, the Berne Exchange.
Meanwhile, Liquid Compute has launched with $15 million raise to build a regulated exchange for AI infrastructure. Busy week. Four deals in the Parish. All the deals were an exchange. Invest Daily 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. TMX Group They've priced a 1.1 billion private placing venture offering and that's going to be shoring up their balance sheet with a spot of debt shuffling and some general corporate deployment of the cash. Including of course their recent acquisition of cboe. In Market Access they've said an October vote it's going to be October 29th for a virtual EGM to vote for the ICE acquisition at $167 per share. And good news from Brazil for competition lovers. Brazilian exchange A5X has raised $70 million in a new funding round.
Meanwhile, if you fancy some financial insights with moving pictures, check out our live streams Tuesday 5 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. And don't forget Exchange Invest itself is not a seven week issue. Saturdays and Sundays are free greater macro reads while Monday through Friday that is the core the business of the sports world. The Exchange of information which is open only to our subscribers to whom we thank for their subscription as it also helps subsidize this podcast. In Product News this week the CME Group expanded their credit ecosystem with the launch of Liquid Leveraged Loan Index Futures. LME are rolling out electronic options for March 30, 2027 and another addition to the tokenizing world, Promethium Capital, long the people on the blockchain who want to do everything by the rules. They've teamed up with Hashkey, Digital Asset Group and Velocity Capital, sending a binding MOU to internationalized tokenized U.S. equities.
Over in technology, Nasdaq, VeriFin and Stablecore are partnering to unify Fiat and Digital Asset financial crime detection. Very exciting move there. While in Dubai, dgcx, the Dubai golden commodity exchange, have partnered with TCX to advance and upgrade derivatives market infrastructure. At the same time ICE are launching a private credit reference Data Service and BML L&Calshi have partnered to expand institutional access to prediction market data. In Creep has one big move this week. Surprise. Robert Buji is out as CEO of urex, not seeking a new term and actually lasted a little more than two years in situ. He's going to be replaced by Eric Leupold. I cannot say what Robert Fuji did during his tenure, but his departure points to ongoing issues with URX and DB1 overall, where they struggled maintain a coherence of management and have developed an odd fixation with believing the EU should gift them in a monopoly in euro yield curve exchange traded derivatives. This summer's remarkable drought in Big World has its origins in El Nino, about which I've been writing for good grief three decades. My online and this year may eclipse the mega el Nino of 1877 when the Eastern Pacific warmed by up to 3 degrees. Due to that 1877-78 el Nino effect, some 2 million people died in Brazil, 12 to 30 people died in India, and 20 to 30 million people starved to death in China. Just for the record, in 2026 the number of people starving to death across the world due to El Nino effect is zero. And on that mysterious and magnificent note, thank you for listening to this EI weekly podcast364 join us daily viexchangeinvest.com or if you have a new exchange you'd like built, get in touch. My name is Patrick Elyoung. I wish you a great week in Life and Markets.
[00:08:15] 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.
