068 Exchange Invest Weekly Podcast October 24 2020

Transcript This week in the parish of Bourses and market structure, NASDAQ obliterates Q3 earnings, estimates. Ant financial IPO is a go. CBOE buys BIDS. and the London Metals Exchange ring is closed for another half year due to COVID. Euronext falls over and Mahwah. New Jersey's biggest industry hangs by a thread, thanks to government intervention.  My name is Patrick L. Young. Welcome to the bourse business weekly digest, It's the Exchange Invest Weekly Podcast. Over in New Jersey, surrounded by the labor unions. A state representative. Mr. Gottheime was raising the alarm on the proposed New Jersey tax on financial transactions. Too late methinks: NYSE and NASDAQ have threatened to leave New Jersey. If the transaction tax goes ahead, noted Data  Center Dynamics. And indeed I do suspect it's just too late for New Jersey. Withdrawing the tax now is merely a timing issue. Given how desperate the Tristate area is for taxation revenue, as it approaches the death spiral of insolvency. The “Soak the rich” approach is deeply embedded in the region's politics. Wall street’s, only defense is to deliver a polite bloody nose, where anyway, the limitations of the New York data center ecosystem are coming close to capacity on various metrics, such as for example, stable power supply. A fresh data center.start on a clean sheet of paper out West will be best for the U S parish and its future execution of orders.  In a decade, Mahwah, New Jersey will for the financial industry amount to little more than a trivia question for exchange nerds with a footnote in electronic trading history.  Indeed, there may be 50 ways to leave your lover and barely half a dozen means to exit a commercial airliner but ultimately there's only one way. Jurisdictions can get rid of businesses: Raise taxes in a competitive digital era. The West beckons for the American trading infrastructure. Elsewhere in terms of moves, the finance minister of Zimbabwe has by the time you listen, to this, opened the Victoria Falls stock exchange. Interesting to see how that one moves forward.  In results this week, spectacular numbers from NASDAQ plus 13% revenue growth broadly based across the entire group company. The Adena Friedman revolution is marching ahead, 49 cents per share dividend and indeed excellent results obliterating the estimates... while meanwhile, the NASDAQ CEO noted the cloud is the future of the industry. Adena Friedman is precisely correct. Nowadays, a genuinely digital business leader has their head in the clouds for ALL of the right reasons, other results. This week in brief, Charles Schwab beat their earnings estimate by about 4 cents, Interactive Brokers disappointed. They were 3% down on their earnings. And indeed also not such good news:The Indian energy exchange, hitherto, a darling of the sector: 9% declining Q2 profits deals this week.    Well, it was a busy week for M and A, and the parish, all the details were of course in Exchange Invest Daily in considerable detail. This newsletter offers you all the insights you can possibly want for $250 per person per annum, no one can afford to be without it in capital markets and market structure. For the sake of this podcast, let's look at some edited highlights: CBOE global markets. They agreed to acqu...