Transcript:
This week in the parish of bourses and market structure:
There’s an eerie sense of 140 pence being a last stand of sorts, as this is the level at which TP ICAP launched their rights issue to overpay for Liquidnet. Just a pity TP didn’t listen to Exchange Invest. In the week that CME created a Google Cloud deal, Euronext dumped LCH, and European Commission saw sense on CCP clearing for Euro derivatives.
My name is Patrick L. Young.
Welcome to the bourse business weekly digest.
It’s the Exchange Invest Weekly Podcast Episode 120.
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.
And indeed this week we reached a historic, well, what we called our Star Trek milestone issue. Exchange Invest surpassed 2,200 issues, reaching our 23rd century where epic sci-fi such as Star Trek was originally set. We’ll continue to boldly go where no analysts of markets have been before.
The Chinese mainland capital markets are going to triple in size in the course of the next 10 years. That’s according to the Hong Kong Exchange’s new boss Nicolas Aguzin reckoning that the 30 trillion US dollar Chinese capital market will reach $100 trillion in the course of the next decade. And perhaps you’re not surprised by the next revelation, Hong Kong has a major role to play, according to the chief executive of the city’s bourse operator.
Saudi bourse Tadawul has ended the IPO wait, it’s planning to list a 30% stake that can all go to a retail investor has finally announced its plans for a listing which is due to take place in the course of the next month.
The Bank of England was being very sotto voce this week. It said it wouldn’t ‘politicise’ dealings with foreign clearing houses perhaps that was just a diplomatic sign of things to come a couple of days later from Brussels, of which more in a moment.
Elsewhere Euronext announces its new strategic plan growth for impact 2024. The revelation there they’re going to ditch the London Stock Exchange for the clearing of their derivatives by 2024.
It was a landmark day as the inevitable poulet came home to roost, with Borsa Italiana gifted Euronext saying ‘’no’’ to continuing to use Clearnet from 2024. Thus, ‘Growth for Impact 2024’ sets out Euronext’s ambition to build the leading market infrastructure in Europe, the group aims to make an impact on its industry and its ecosystem to shape capital markets for future generations.
Frankly, the CCP maneuvering was #ObviousMove
