TRANSCRIPT:
This week in the parish of bourses and market structure:
The Gensler era SEC seem to have found a fascinating line for their SPAC attack using a conflict of interest approach.
Are the cuts to Binance - only a flesh wound?
And Matt Chamberlain notes “Je ne Ring-grette Rein”
In a week when the LSEG sets a technology and FinTech listing record.
My name is Patrick L. Young,
Welcome to the bourse business weekly digest. It's the Exchange Invest Weekly Podcast Episode 103.
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 ExchangedInvest.com.
Didi Chuxing is probably not something that was well known in the West until a couple of weeks ago. Of course, the man in the street knows little or nothing about the Chinese ride hailing app. But in financial markets circles, it's become quite a fascinating thing. Why did they choose the US over Hong Kong for their IPO? Why did they ignore the Chinese officials asking them to pull their IPO when it appeared they had significant issues over privacy issues, at least in terms of the way the Chinese government was viewing what was happening?
The lawsuits of course came teeming in soon after Didi’s share prices dipped below their offer price but not before the ride hailing app granted $3 billion in pre IPO options to executives. With what amounted to a double whammy that was a US move: the major stock indices will remove more Chinese companies following an order by Joe Biden suggesting that there's a certain sort of what is it anti-détente, I suppose could be the word for it where China lists its Chinese things and Hong Kong presumably reaps the rewards of the Americans pushing Chinese listings away. At the same time as indeed the Chinese government's officers seem to have had various people who were eager to try to remove the listings of the Chinese companies in the USA in the first place.
Over the Philippines, the bourse CEO there is hopeful that short selling will start this year, optimism that corporate and tax regulators will reserve issues on borrowing and lending of securities to enable a short selling regime.
Good news from Interactive Brokers, they've eliminated the monthly account inactivity fees for those who've got smaller, more modest balances with IBKR. The US brokerage was arguing that its decision is aligned with industry standards.
“I don't regret the outcry from trying to ditch the ring”, said the exchange boss of the London Metals market, Matt Chamber...
