114 Exchange Invest Weekly Podcast October 2nd, 2022

Transcript:          This week in the parish of bourses and market structure:                IEX targets “Reddit Retail”, Beijing Stock Exchange already testing their SME platform, while we await the possibility of a China Crackdown. Meanwhile, the FCA says “No Time to Die for Libor”.         My name is Patrick L. Young, welcome to the bourse business weekly digest.          It’s the Exchange Invest Weekly Podcast, Episode 114.         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.         In the past week, demonstrators briefly occupied the Sao Paolo Stock Exchange in Brazil to protest inequality.          Meanwhile, with an eye to inequality of a slightly different kind. The IEX Exchange has assembled an advisory committee on retail trading. IEX Exchange, the flash boys are aiming to draw in more business from retail investors. And in the process, they’re set to convene regular meetings of some of the biggest brokerages in an effort to enhance equity trading for retail investors that some critics have described as impaired. It’s a fascinating move as IEX seeks to bring more “Reddit retail” flow to the ‘Flash Boys’ bourse.         Meanwhile, Deutsche Boerse, EUREX Global Head of fixed income derivatives Philip Simons said this week, “It’s not a question of if liquidity moves, but a question of by how much and when” when it comes to the fact that he deems the relocation of Euro clearing from London is inevitable.         Frankly, it’s always sad to see somebody dropped their common sense in favor of a paycheck. At the same panel, it was noticeable that the boss of the London clearing house was saying there has been no appreciable movement in Euro clearing. See podcasts passim, articles on CapX by PLY, that’s me. And indeed, many many issues of the Exchange Invest newsletter for why Philip Simon is wrong.         Elsewhere, Banks and Asset managers they’re backing a plan for an explosion in the UK share trading. Top banks and asset managers have thrown their weight behind the proposals in Britain to scrap curbs on share trading. Interesting to see how that develops because in many ways it could be a rather anti-exchange and pro internalization profile.         One exciting development in terms of new offices this week, ArawakX, that’s the startup SME-focused crowdfunding and exchange platform in the Bahamas. They’ve opened an office in Silicon Valley, California no less. That’s going to be an excellent opportunity to introduce the ArawakX platform, as well as the Bahamas and the C...