While the “coalition to prevent the taxation of retirement savings” meets Texas Governor Abbott, Hong Kong Exchange delivers impressive results for Charles Li's quarterly swansong and ICE Futures Abu Dhabi are go: on March 29th, 2021.
Transcript
Are we in a death rattle for mega-deals in the parish? Hong Kong Exchange delivers impressive results for Charles Li's quarterly swansong and ICE Futures Abu Dhabi are go on March 29th, 2021. My name is Patrick L. Young. Welcome to the bourse business weekly digest. It's the Exchange Invest Weekly Podcast.
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 week’s, many events and happenings can be found in Exchange Invest’s daily subscriber newsletter. The unique guide to the bourse business sent daily to your inbox.
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In Brexit: Brexit Brexit Britain is pursuing a Brexit finance plan. Its door is open to EU firms. Essentially as fast as the European Union is trying to shut up store to the UK’s financial firms - a pretty serious imbalance. Given the fact that the UK is at least 35% of the European wholesale finance market, Europe may yet Rue that move.
Speaking of people, ruing moves. Hopefully the legislature in New Jersey have finally got the message NASDAQ and other trading exchanges have met with the Texas governor, Abbott. As Texas governor Greg Abbott himself tweeted “Texas may become the financial nerve center of America, of the world.”
He asserts, “I will meet with NASDAQ and other trading exchanges about a potential move. Like so many businesses they want to flee high taxes in Texas. We made an income tax unconstitutional.”
Memo to team Biden, whatever you're planning, you can't afford it.
The “coalition to prevent the taxation of retirement savings” includes NASDAQ, the ICE CBOE, Citadel Securities, Equinix, IEX, TD Ameritrade, Virtu financial and UBS. Could the last person in New York city, please switch off the lights? is the plausible order of the day after another gruesome tri-state taxation, miscalculation.
In results this week, Hong Kong Stock Exchange spectacular results for what will probably be the final time they're presented by the outgoing CEO, Charles Li. Q3 profit jumped 52 per cent on increased trading revenue, increased trading listings. In fact, pretty much increased everything. Despite the lack of an Ant IPO Charles Li was hugely upbeat and delivered some very sanguine and sensible remarks about the future of the exchange, which is in excellently rude health and bears huge Testament to his very successful period as chief executive.
Elsewhere, Good numbers came in from Euronext, amongst others. While the Warsaw stock exchange, wasn't looking too bad either, but the National Stock Exchange of India beat both: their revenues were up 40% in the first half of the year. Tragically TP ICAP managed to pour, worse news upon worse news. Their revenue growth is at best flat “as trading dried up,” according to a Financial Times, headline.
The sad news in the parish was that TP ICAP are flatlining terrible results altogether. They're now eyeing up cost savings, but then again, ‘never executing’ remains the stuck record of the analog TP ICAP, which is now becalmed through its own management’s incap...
