This Week in the parish of bourses and market structure:
It's been a big week in dealmaking, the Singapore Exchanges seeking M&A while NASDAQ have closed the VeraFin purchase.
National Stock Exchange of India buys a stake in the Indian Gas Exchange...and is a Trans Pacific mining bourse play now on the cards for TMX?
New Zealand Exchange publishes excellent results, and the ASX faces mounting pressure over its regulatory monopoly.
Meanwhile, the City of London finally gets a united front in favor of Brexit and Euronext appoints an Italian banker as chairman, as the power of the Empire shifts east from the Benelux
My name is Patrick L Young. Welcome to the bourse business weekly digest. It's the Exchange Invest Weekly Podcast episode 82.
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 Exchange Invest we've been somewhat vociferous of late in noting the abject failure of the Corporation of London to take back control over the Brexit situation, which the Corporation comprehensively lost perspective on with its unprecedented vote to push for a remain vote in 2016 at the great referendum. Putting it politely, the Corporation has remained out of touch ever since. This week, news of the City United project was breaking from London as Exchange Invest rushed to pixel.
Chaired by former life CEO Daniel Hudson with exchange parishioner, Danny Corrigan, as one of the deputy chairman, the organization has a series of stellar Brexit thinkers in its ranks, as well as a political Advisory Committee, including the likes of Lord Hannan and former UK finance minister Lord Lamont.
Finally, the UK financial markets have a coherent voice for the future. The Corporation of London and all those who wish to promote the future of the City would be well advised to embrace the City United project wholeheartedly. PLY has done so without hesitation in the pixels of Exchange Invest Daily this week.
Unity is vital for the City to succeed in the brave new world of Brexit. The City United is the ideal vehicle to achieve that platform for progress and future prosperity in the City of London.
Meanwhile, down under, the ongoing travails of the self styled technology company ASX and its failure to operate its technology stack continue to fester after last year's massive market meltdown. “ASX Outage to trigger market shake up” was the headline in the Australian Financial Review.
And as the AFR notes.
“The stockmarket’s snap trading shutdown last year has forced financial regulators to develop plans to inject more competition against the Australian Securities Exchange and move to compel stockbrokers to connect to its competitor Chi-X.”
The article goes on: “Regulators are understood to be probing the ASX’s highly vertically integrated system as a barrier to...
