Transcript:
This week in the parish of bourses and market structure:
RIP LIBOR, CBOT floor goes electric and it’s NASDAQ 743 versus LSE 133 to complete what was a record year for IPOs…
My name is Patrick L. Young.
Welcome to the bourse business weekly digest.
It’s the Exchange Invest Weekly Podcast Episode 126.
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 many events which took place during the course of the past week can be found in Exchange Invest’s unique daily newsletter. The subscriber guide to the bourse business sent daily to your inbox
More details at ExchangeInvest.com.
Nasdaq welcomed 743 IPOs and 35 Exchange transfers in 2021. A sensational performance, more IPOs in one group than we had across, well, whole continents not that long ago. By comparison, the London Stock Exchange was incredibly excited at being the European market leader with 133 IPOs. Admittedly, that was three times 2020.
But nonetheless, a pale shadow of what went on in North America NYSE, by comparison, I made at 265 by early December, making for an incredible 1000 listings between the two leading US stock markets alone. Indeed, NASDAQ ended the year only a whisker short I believe has double the New York Stock Exchange money raise. By early December it was $191.38 billion on NASDAQ versus $109.25 billion on NYSE – that makes a huge volte-face from most years post dotcom where NYSE has been the listings leader.
Meanwhile, over in Istanbul, the number of investors in the Turkish Stock Exchange Borsa Istanbul has reached 2.4 million, adding 500,000 people from the 1.9 million who were registered in the previous year according to the head of the Capital Markets board of Turkey.
The European Union’s securities watchdog ESMA said “Please don’t cut off a Euro clearing in London for now. London’s two big derivatives clearinghouses should not be cut off from customers in the European Union until there are incentives to shift business to the block such as capital charges” ESMA has said according to an article in Reuters, it amounts to the dirty desperate war of deranged Euro-control.
Meanwhile, speaking about the dirty desperate derangement of European regulators, FESE (Federation of European Securities Exchanges) had cause to gripe before Christmas as they raised concerns over ESMA’s annual statistical report on 2020 data with Brexit looming on December the 31st of 2020. Well, ESMA indulged in a prodigious piece of spurned spouse meets Muppet madness, as much as carved the UK’s 19 trillion Euros in equity trading out of the 2020 statistics.
Presumably, this was a kind of post-horse bolt repo move to try and make the European Union look more viable after Brexit (which took place of course, at the st...
