Transcript:
This week in the parish of bourses and market structure:
Abu Dhabi Exchange entering the derivatives market powered by NASDAQ, while a new exchange has nearly 1% of the population of the Bahamas signed up, after only being open for a matter of weeks.
My name is Patrick L. Young.
Welcome to the bourse business weekly digest.
It’s the Exchange Invest Weekly Podcast Episode 110.
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.
More details at ExchangeInvest.com.
This week the UK’s Financial Conduct Authority (FCA) announced the world’s biggest crypto exchange Binance is not capable of being supervised properly and poses a significant risk to consumers. Now, the FCA simply says it can’t deal with this dubious enterprise (#Zeroshock if you can actually elongate “DD” into a well-known phrase or saying, incidentally.)
The big question is: Will any regulator have the guts/gumption to end this madness?
Happy birthday to the Nigerian Exchange celebrating 60 years young this week.
Elsewhere there is a bit of a language barrier problem plaguing India’s stock market. It’s the perils of lingua franca 101 – qv the European Union where they still use English despite it being a tiny minority first language post Brexit in the Euro-rump 27.
Anyway, retail issues in India, as the retail population gets to invest in larger numbers. And that means way more non-English speakers looking for regulatory news services in their dialects.
Charles Schwab, they’re heading off to China, the investment advisor is launching a branch in Shanghai.
Elsewhere, Silicon Valley’s Long-Term Stock Exchange finally listed its first two companies. Their joint listings, as I mentioned a few weeks back, are Twilio and Asana. Both of them are actually shareholders in the Long-Term Stock Exchange itself.
One other issue being raised this week by the Long-Term Stock Exchange was one of campanology. Now given how the lure of bell ringing as a unifying ambition amongst a middle-aged management cadre, I suspect the Long-Term Stock Exchange has taken a wrong turn here in deciding to ditch an opening bell for their trading sessions. But then again, they all seem a little Californian and “too cool”
