Transcript:
This week in the parish of bourses and market structure:
TPI ICAP Go full Biden with their disappointing results being trumpeted as a success while Beijing has a new stock exchange within eight minutes of President Xi Jinping trumpeting its existence.
My name is Patrick L. Young.
Welcome to the bourse business weekly digest.
It’s the Exchange Invest Weekly Podcast Episode 111.
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.
The Members Exchange kicked the week off by urging regulators in the US to allow half penny stock prices. “Half a tick is better than half a basis point” as presumably the financialised remake of the 1960’s musical ”Half A Sixpence” based on an HG Wells story would go in the current day.
Meanwhile, there’s the battle to host the global sustainability company disclosure agency (there’s quite a mouthful) where the woke era of Trudeau fils is imperiled their bid to host this agency in Canada might be won by the rather more logical financial center option of London.
New to London, the European Union says they need months to decide about clearing access. As opposed to all those instant decisions which rattle up and down the Brussels chain of command in a New York minute as the bureaucracy pulses with vigorous decision-making zeal. Oh, hold on a second…
Meanwhile, following market consultation SGX’s regulatory arm in Singapore halved the minimum capitalization requirement for SPAC listings to a mere S$150 million (that’s about 112 million in US dollar terms) – the question is, of course, will this be too late for the SPAC boom which already appears to falter in the USA?
Meanwhile, the London Metals Exchange floor reopened but on day one business through the ring was dramatically lower – up to some 85% pre-COVID times they say.
It was a wildly busy week for results in the parish. All the deals were in Exchange Invest daily, the newsletter no person can afford to be without in capital markets and market structure. For the sake of this podcast, let’s look at some edited highlights:
The stock exchange preliminary estimated consolidated financials for Q2 shows EBITDA jumping 9% and net profit of 18%. If only we could see those sorts of numbers from the ongoing train wreck, which is TP ICAP, tragically there what we ended up with was actually a plunge into loss after tax. That plunge in the post tax loss leaves Nicolas Biden, I mean, Nicolas Breteau
