TRANSCRIPT
This week in the parish of bourses and market structure:
Toshiba backlash of rocks Japan Exchanges, ASX in colorful Crypto Sbat and there's lots more including a big crackdown on Binance.
My name is Patrick L. Young,
Welcome to the bourse business weekly digest.
It's the Exchange Invest Weekly Podcast, Episode 101.
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 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.
More details at ExchangeInvest.com.
The Robinhood CEO called for changes to exchange pricing rules this week.
PLY: Vlad Tenev was demanding fractions of a penny pricing and a pre-emptive fight back against the possible Gensler-SEC Payment For Order Flow restrictions or indeed an outright ban.
Fueling ADHD-like millennial behavior may be feasible in the super liquid names but it does little or nothing for smaller stocks struggling to achieve any liquidity. (See also the David Weild IPO-VID the other week).
I love the way super liquid products flow but at the same time, we must remain mindful (as RobinHood is not in this instance) that we need the orderly capital formation and a feasible means to ensure smaller public equity offerings have the nurture and support to help them become major public companies tomorrow. Keeping them in “La Ronde Privee” a stealth alphabet of PE rounds with facilitated private market transactions may be good for some, but must not become the only route to growth or indeed debut on public markets.
Meanwhile, of course, this week we marked the end of a spectacular first half with American Independence Day looming. It was great to see another broadly successful parish quarter coming to a close, some stats coming up on that in just a minute.
Meanwhile, though, we were looking at America's Water Wars, they're just beginning according to Bloomberg, which is an interesting article demonstrating the urgent need for a water market to be better organized but that requires a champion and while NASDAQ has the data it does not have the Exchange Traded Derivative heft on the future side. While Chicago Mercantile Exchange, the licensee of the NASDAQ water index in California appears remarkably insouciant abou...
