TRANSCRIPT:
This week in the parish of bourses and market structure:
LSEG buys MayStreet, FTX to trade US stocks, All change in Hanoi, and there’s a certain irony NSE India is the hottest stock albeit only available to trade via the OTC market.
My name is Patrick L. Young.
Welcome to the bourse business weekly digest.
It’s the Exchange Invest Weekly Podcast Episode 145.
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 7 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.
National Stock Exchange of India shares are seeing hectic trading. Apparently, tax evaders are having a field day at the same time according to other missives in India of lit. The heavy trading in NSE is of course quite fascinating for the simple reason that with lot sizes not as small as 500 shares (previously it was 10,000) that’s encouraged a lot of dealing and a lot of dealing amongst retail investors. Of course the irony there is the National Stock Exchange is still trading on the over-the-counter market privately due to SEBI’s reluctance to sanction an IPO for over a decade and more.
Meanwhile, the “Holy Hoax” Co-Lo fiasco festers on with more than 10 locations arrested last week by the fraudbusters of the CBI and Chitra Ramkrishna, the former NSE CEO is under duress she’s received a reminder now she has to pay 3.12 billion Indian Rupees ($400,000) – including interest and fees since the first demand went unpaid in February. Presumably, wifi is poor in her cell to access internet banking.
Over in Russia, they are lifting their short-selling ban from June 1st. Well, there’s an interesting article in the Wired UK this week discussing How Tired Old Offices Can Be Recycled Thanks To Urban Mining. That’s a fine art that helped some builders recycle much of ICAPs One Broadgate offices in the former Liverpool Street shunting yards on the edge of the city of London.
In Warsaw, we’ll be hearing more about the Warsaw Stock Exchanges as this bulletin continues but GPW they’ve partnered with M-DAQ to pilot multicurrency quoting for Polish securities.
I always thought multi-currency trading of stock was a no brainer at the exchange level. And I’ve been saying so for the past 20 years but adoption has taken a while longer at least the good news is GPW (the Warsaw Stock Exchange) is amongst those in the forefront.
A little spot of Brexit news this week, the European Union’s finance watchdog, ESMA they’re calling for a ‘Workable Balance’ in the derivatives Brexit battle.
That’s yet more CCP “jaw jaw’ as there is a degree of realisation emerging that ESMA/EU’s protectionist Madness has actually done more harm than good for the protectionist bloke so far in driving business out of the...
