Transcript
This week in the parish of bourses and market structure:
Terrific numbers from ICE as their laser-like execution focus delivers to the bottom line once again while they also buy Data Corporation Black Knight.
My name is Patrick L. Young.
Welcome to the bourse business weekly digest.
It’s the Exchange Invest Weekly Podcast Episode 143.
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 of the past seven days 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.
CME shareholders have sent a resounding note to the management: “The CEO Got Paid Too Much”
Footnote of the week came from the CME AGM: “The advisory vote on the compensation of named executive officers was not approved.”
AKA Shareholders of CME Group overwhelmingly voted against the unusually large 2021 compensation package for CEO Terry Duffy.
Seeing usually pliant shareholders actually complain about something at CME and LSEG has been a major development (not before time) for both stocks in recent months. Certainly, $23 million for the relatively low profile CME Chairman/CEO Terry Duffy does appear to be somewhat north of egregious.
In South Africa, the Johannesburg Stock Exchange, they’re relaxing its listing rules on appointing a new board just for technology companies. In the USA, the mayor of Carteret joined NASDAQ CEO Adena Friedman and various other dignitaries to break ground on the expansion of the new cloud data centre there, while in Cyprus, a law has been deemed unconstitutional. It had forced all investment companies to invest 80 per cent of their funds in the Cyprus Stock Exchange during a downturn 20-something years ago. Ultimately, the state is going to have to pay millions over the unconstitutional stock exchange law.
In political news, the Colombo Stock Exchange has been closed amid unprecedented unrest throughout Sri Lanka. That was after violence erupted following the brother of the president Gotabaya Rajapaksa resigning as prime minister.
In Brexit news this week, some encouraging updates, a Britain is back on top in sterling swaps trading post Brexit. New York had taken the top spot for starting swaps trading in early 2021 as swaps trading left London for the European Union and the United States after Britain fully executed on Brexit on December 31, 2020.
The European Union’s hostility to various financial markets issues has not been sufficient to prevent British pound swaps trading returning in the majority to London.
In results, it was a frantically 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 cap...
