Transcript:
This week in the parish of bourses and market structure:
COIN buys an exchange licence.
In product news, it’s time for MAGA
…and in London: LSE is going private.
My name is Patrick L. Young.
Welcome to the bourse business weekly digest.
It’s the Exchange Invest Weekly Podcast number 128.
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 or our various social media platforms.
The European Union has given itself three more years to end Euro clearing reliance on London went the Reuters headline this week. A three-year window delivers more derivatives stability through London while the European Union desperately tried to adapt their usual protectionist insularity, to fit the mindset of closed thinking that pervades Brussels. It’s a pity they couldn’t think about economic growth and helping the citizens or forethought. Anyway, a three-year window is a fair one, as the single currency, let alone the European Union may not be recognizably functional in that period.
NASDAQ Europe – they’ve been crowned ‘2021 Leading European Exchange’. That’s for new equity issues. They achieved the highest number of new equity listings amongst all European markets welcoming a record 219 listings with 174 initial public offerings, raising 13.4 billion euros. After all that London Stock Exchange Group hype before Christmas. the truth in statistics says London lags badly in the number of new listings compared to NASDAQ’s dynamic European teamwork.
Over in Canada, they had a good year for IPOs as well, a record of $10.2 billion being raised from 171 IPOs. TSX lead the field with 37 IPO’s in total, but nonetheless, there were respectable performances from the Canadian Securities Exchange, TSX Venture Exchange and NEO.
The Bank of England – they’re going to get more powers over clearing and settlement. Perhaps the most overused phrase of Q1 2021 was “the adults are back in charge” which of course proved palpably false and then some. However, there is a case for this argument to be made as Britain rebalances clearing/settlement regulation away from the European Union towards its more experienced in this area, Central Bank.
Down under, CBOE – they are preparing to give ASX a run for its money as the headline said in The Australian newspaper. The Chi-X name will disappear on February 1st to be replaced by CBOE. Bring it on! The Chi-X team in Australia have a powerful parent in CBOE backing their ambitions and the imminent deployment of serious block trading to eat Liquidnet’s last bastions of monopoly can only further help propel Chi-BOE (let’s give it a halfwa...
