038 Exchange Invest Weekly Podcast

Transcript   Way out there well beyond the front door you're currently locked behind, the latest legal announcements from Britain and Germany make it clear that in Coronavirus-world “Two's Company but three is a felony for illegal gathering.” Welcome to this week's Exchange Invest weekly podcast. All the pith that's fit to pixel is being re-represented as a podcast! Here are the highlights of the week in market structure with me Patrick L Young.   So this was the week for the first time in 228 years, the New York Stock Exchange opened its trading session without its infamous trading floor. But let's not forget the vast majority of equity trading has been fully electronic for years. Elsewhere in the parish, there were good IHS Markit results. SiX got the government and regulatory buy in from Spain to buy the Spanish Stock Exchange BME. Adina Friedman and Charles Li were leading the parish promotion of uptime, while NASDAQ made a significant COVID-19 donation. Moreover, the calm sanity of Charles Li and Adena Friedman was very capably aided by the wise words of former treasury secretary Nicolas Brady and his Undersecretary.    Elsewhere, the serious market executives are focusing on their day jobs. But in a moment of what may prove to be utter madness, Deutsche Boerse’s CEO Theodor Weimer is joining the board of the embattled Deutsche Bank    And to cap it all on a very busy week, if you need something to read while you're working from home, my new book “Victory or Death” is on public release. My name is Patrick L. Young. Welcome to the bourse business weekly digest. It's the Exchange Invest Weekly podcast.    As Bjorn Sibborn the president of NASDAQ's European markets commented this week on Bloomberg:   “To interfere with trading doesn’t necessarily help the market or market volatility by adding a short selling ban.”   This week, some very small peripheral markets have been closed such as Nepal and Palestine. Others have punctuated their markets but the major markets throughout the world have stayed open. In India, word on Dalal Street has fixated on plans that were apparently leaked that a two week shutdown could happen for bourses in exceptional circumstances, as India itself has gone into total coronavirus lockdown...and the Rumors probably didn't help what was a tumultuous 12% down day in Indian markets. While brokers in India are complaining they cannot function due to the government excluding their staff from the essential services list while seeking to keep the markets open. It was good to see many industry associations across the United States of America and indeed in Europe, such as FESE, who were robustly behind open markets...and the case clearly has to be continuously made as some truly appalling articles in publications such as Politico have shown this week. While Washington DC and its ghastly media acolytes are fixated on politicking as opposed to crisis resolution, ditto many other nations too. There are very few voices arguing for open markets.    To that end, Exchange, Invest, in our daily subscriber newsletter, and indeed through this weekly podcast: We're the only published media pushing for open markets every day.    I appreciate your support as we endeavor to ensure government doesn't commit a radical act of economic self harm by throttling the feeding tubes of Finance.    The struggle (to remain open) is real.