TRANSCRIPTION
This week in the parish of bourses and market structure:
The LME floor is saved from closure as China erroneously claims most listings' top spot.
My name is Patrick L. Young,
Welcome to the bourse business weekly digest.
It's the Exchange Invest Weekly Podcast, Episode 098.
Good day ladies and gentlemen, this is a very brief reduction of highlights amongst the highlights from the key headlines we've accumulated during the weekend market structure within the pixels of Exchange Invest - the bourse business daily newsletter sent to your inbox every day of the week, Monday through Friday with an additional free issue on the weekend.
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There was a fascinating strand of conversation this week - Google announced their new data services headlined: Google Cloud Launches Datashare For Fin Serv | Press Releases.
It's a groovy way to share data and potentially monetize data sets in a new way albeit that may not please some incumbents because well, they like being incumbents, and not being challenged by trying any form of “new new” thing.
However, then in conversation, the question arose of just how much Google can be trusted? I make no comment here as there are matters sub judice. There are also parallel concerns, e.g. with Amazon where some say they have used data in a manner that exploited their platform to allow them to tweak proprietary sales over third-party listings... That's not exactly cricket in the exchange world, which is why the parish of bourses is held as a standard-bearer for decency and fairness.
The Google accusations circle around “Project Bernanke” something for which doubtless a certain former central banker was ecstatic to hear his name being used in: Google used a secret program to game its ad-buying system, documents show when the market was a story, it can be summarised thus, by quoting from the Wall Street Journal story:
“Google's secret ‘Project Bernanke’ revealed in Texas Antitrust case”
...and I quote: “Google, for years, operated a secret program that used data from past bids in its digital ad exchange to allegedly give its own ad-buying system an advantage over competitors, according to court documents filed as part of an Antitrust lawsuit.”
This potentially raises serious questions about the parish and the data services of Google, if at least tangentially… and of course, one could place a cloud by proxy on AWS given A...
