Espionage data overload : EI Weekend 2956

Patrick L Young
6 min readMay 4, 2024

Mercenaries, Pirates, Sneaks, Snitches, Spies. Espionage data overload, crazy counter terrorism, CZ sentenced.

Exchange Invest is a unique information resource combining the day’s stories in a newsletter for investors in exchanges/financial markets infrastructure.

Exchange Invest was founded by former exchange CEO and author of the first bestselling book of fintech (“Capital Market Revolution!” FT 1999) Patrick Young. Monday through Friday our daily paid subscriber email discusses the business of bourses of all kinds across the world.

On this day in 2004, NY Attorney General Eliot Spitzer sued the NYSE, former exchange chairman Dick Grasso and an executive who headed its compensation committee. Spitzer wanted Grasso to return $100 million of the $200 million plus that the NY Exchange gave or promised to Grasso.



The Eurocrats’ Secret Weapon

PLY: An interesting analysis of the Euro currency which has despite a lot of issues, survived.


From Exchange Invest 2952–2953: Wednesday & Thursday, May 1st-2nd:

“For a bourse which only last week haughtily noted replacing CHESS was not like flying to Mars, I reiterate my comment from last week’s podcast that with NASA predicting a new faster propulsion engine will get humans to the moon by 2035, this could still be sooner than ASX has a working updated back office… on the day when the aged legacy system was creaking once again.”


Guest: Brian Hyndman
May 07th, 2024
1700 UK, 1800 CET, 1200 EST

Brian Hyndman is the President and CEO of BOT.

Previously, Brian was the SVP of Global Information Services for The NASDAQ OMX Group, Inc. Prior to this he served as SVP of Transaction Services responsible for managing operations of Nasdaq’s U.S. equities trading platforms.

Prior to joining NASDAQ in 2004, Mr. Hyndman was the President of BRUT, an ECN that was eventually sold to NASDAQ in 2004.

Watch the stream on:
LinkedIn | Youtube | Live on X — Link TBN


MCX Shines Bright,

Nasdaq Makes A Revenue Leap,

Third Time For Lucky Lutnick?

Sebi’s Calculated Insanity,

DFM Results Sensation

And there’s Hosking’s Broadside At ASX

The Exchange Invest Weekly Podcast 243


A case of “4-Month:FUD!”

In the end — the man behind the Twitter tyranny of 4:FUD! Has ended up with 4-Months: FUD! Of jail after the once seemingly unimpeachable CZ was bolstered by some 161 letters of support. Then again only 161 letters is almost disappointing when you consider that this time last year he could motivate a thousand or more braying donkeys to support his view with a de minimis Twitter cri de coeur of “it’s 4:FUD!”

In the end CZ is a very very lucky man to get away with 4 months incarceration where his former foe SBF has decades in jail ahead of him.

If you enjoyed this excerpt you may be interested to know that you can read Bitcarnage every day in Exchange Invest.

Alternatively, if you want to follow Bitcarnage — the daily update on happenings in the world of crypto and digital assets, then you can find Bitcarnage as a standalone on Substack.


In this latest IPO-VID podcast episode, fintech guru Chris Skinner dives into the future of finance: Do intermediaries still have a place in an AI-powered world?

🎧 Click here for different podcast sources:

EI Website | Spotify | Google Podcasts | Apple Podcast


As always, a review of interesting reading to provoke thoughts and consideration… Not sure we agree with much of it….but it’s thought-provoking!

The Secret Snitch Who Brought Down The Narcos
Montreal Gazette

What I Learned From My Father’s Life Of Crime
The Spectator

How Russia Recruits Soldiers From Cuba To Fight In Ukraine

There’s So Much Data Even Spies Are Struggling To Find Secrets
The Business Standard

Scandalous Indoctrination: Inside A Kings College Counter-Terrorism Course For UK Civil Servants
Fathom Journal

Houthi Red Sea Attacks Are Boon For Pirates As Ships Reroute


Guest: Roland Bellegarde
April 30th, 2024
1700 UK, 1800 CET, 1200 EST

Roland Bellegarde was a Group EVP at Euronext and NYSE Euronext from 2000–2014. His many accomplishments include unifying the then 4 Euronext equity markets on one single order book and platform.

Nowadays Roland is Senior advisor to the Group CEO of the Saudi Tadawul Group; actively participating in multiple projects modernizing and developing the Saudi Capital Markets. He is currently a Board member of the Saudi exchange, the Clearing House (Muqassa), the CSD (Edaa) and the innovation subsidiary (Wamid).

Watch the stream on:
LinkedIn | Youtube | X | Facebook


Finance Book Of The Week

In response to reader’s queries, we have added a book of the week column to the EI weekend edition — interesting books pertaining to exchanges and markets, investment et al.

- Anybody can sign up for EI Weekend for free at

This week’s book was written by Rainer Zitelmann.

Rainer Zitelmann’s “Unbreakable Spirit” explores how people with disabilities accomplish the extraordinary in life and set milestones that seem almost impossible even to most people without disabilities, profiling 20 unique high achievers.

Get the book here

*Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.

Suggestions welcome if you would like to nominate a book for us to cover!

Our next Book of the week will be unveiled Saturday in the EI Weekend Edition.

And don’t forget if you want all the news on the bourse business sent daily to your Inbox subscribe to Exchange Invest — via Exchange — it’s only $375 per annum to join “The Exchange of Information.”


Victory Or Death” is a must-read book for anyone interested in the intersection of Blockchain, Cryptocurrency and FinTech giving a holistic view of the future of markets.

Available worldwide.

*Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.


…If you want to stay abreast of the world of exchanges then please Subscribe to our Daily Newsletter — free 7-day trial.

Or Subscribe to our Weekend Edition — it’s free.

You can also check out the “Reflections From Young’s Pyramid”, it illustrates the relative value of exchanges around the world.

Or the “ICE Cost of Borrowing 2020–2022” An Interest Rate Comparison, which illustrates the end of the funny money era of QE and how interest rates have already had a major lurch up from their previous region of zero to, even negative, levels.

At the least can you like this article, or leave us a comment, we welcome your feedback.


If you enjoy our multimedia, then please Like / Subscribe to our video channel: IPO-VID In Patrick’s Opinion.



Patrick L Young

Entrepreneur, Investor, Author. #Exchanges #Fintech #Startups #Motorsport Emerging Markets. CoFounder @Exchange_Invest @HanzaTrade @MissionToRun @YMarkets