Agile dev must die. Egyptian gold. Gallic reality. 007’s bored birth, SAF flight, Swift DD, SVB requiem, AI traffic jams, a soft landing?
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 L Young. Monday through Friday our daily paid subscriber email discusses the business of bourses of all kinds across the world.
This weekly edition is a magazine of broader macro topics as well as including our free weekly podcast which reviews the highlights of the week in the world’s market structure.
On this day in 1903, the current New York Stock Exchange Building opened. More space for business dealing was required, so architects came together to design a workplace specifically to house the stock market.
The central section of the block contains the original structure at 18 Broad Street, designed in the Classical Revival style by George B. Post. The northern section contains a 23-story office annex at 11 Wall Street, designed by Trowbridge & Livingston in a similar style. The marble facade of 18 Broad Street contains colonnades facing east toward Broad Street and west toward New Street, both atop two-story podiums. The Broad Street colonnade, an icon of the NYSE, contains a pediment designed by John Quincy Adams Ward and Paul Wayland Bartlett, depicting commerce and industry.
The NYSE Building is composed of two primary structures. The southern one, at 18 Broad Street in the center of the block, was designed by George B. Post in the Classical Revival style and completed in 1903, directly replacing the former headquarters. The northern structure, at 11 Wall Street on the northern end of the block, has a frontage directly on Wall Street; it was designed by Trowbridge & Livingston and completed in 1922. Due to the site’s sloping topography, the first floor is at ground level at the corner of Wall and New Streets but is one level above Broad Street.
From Exchange Invest 2636: April 17th, Monday:
It won’t have escaped your notice that US documents leaked last week all about Ukraine. They mostly told us stuff anybody with the IQ of a chewy sweet already knew (Ukraine is corrupt, war is horrible, there are special forces troops embedded in Ukraine from multiple nations, lots of ammo has been used with deadly consequences etc). The meeja has gone ballistic and reports on all sorts of hideous restrictions on the distribution of information being proposed. At the same time, the usual suspects are eager to paint the culprit as some form of far right freak show, to the point where he would sound unbelievable in Lee Childs’ Jack Reacher books/films.
The question I am left pondering is, just how totally dysfunctional is the government military complex that it let a clearly immature (what he believed I cannot assess) 21-year-old Air National Guardsman read such sensitive material and easily copy / download it?
NEXT WEEK TUESDAY
Season 18: Episode 01: IPO-VID Livestream 103
Guest: Alex Lamb
April 25th: 1800 UK, 1900 CET, 1400 EST
“Real Time Risks”
The head of Americas for Scila AB, Alexander Lamb is a veteran futures industry technology executive with a long pedigree including senior roles at TT and RTS Realtime Systems Group, where he sat on the Executive Board.
Watch the stream on:
Season 17: Episode 06: IPO-VID Livestream 102
April 18th: 1800 UK, 1900 CET, 1400 EST
“Jim Oliff — Markets In Electronic Transition”
A recent inductee into the FIA Hall of Fame, Jim Oliff was a member of the CME board of directors for some 30 years. As Chairman of the exchange’s Strategic Planning Committee, Oliff played a leading role in CME’s journey from a member-owned organization to a demutualized exchange, and the first publicly traded marketplace in the United States of America.
Jim helped to guide the exchange’s brokers and traders through the critical transition from open outcry to electronic trading as chairman of the Electronic Transition Committee, spearheading the creation and build-out of the Globex Learning Center. He also chaired the CME Clearing House Risk Committee, introducing the clearing of interest rate and credit default swaps, and chaired CME’s Professional Responsibilities Committee, leading a program that became a model for exchanges nationwide.
Watch the stream on:
IPO-VID LIVESTREAM PODCAST
In IPO-VID Episode 094: Patrick Young was joined by the first Strate CEO, Prof Monica Singer, nowadays a fervent advocate for Distributed Ledger Technology.
Listen to this interesting episode “STRATE to the Blockchain.”
Now available from multiple different podcast sources including:
EI WEEKLY PODCAST
Ameribor Swas Owner
A Coup For eToro?
The London Stock Exchange Group Exits IT Sales
VICTORY OR DEATH
20 years on from the first fintech bestseller “Capital Market Revolution!”… “Victory Or Death” is a must read book for anyone interested in the intersection of Blockchain, Cryptocurrency and FinTech as part of the whole future of finance.
Podcast This Week
PLY: An epic Hulsman podcast, both hilarious and poignant, not just for France but the broader continent of Europe, particularly west of the Oder.
- This is the first time we have sent via Substack — the EI Weekend edition is available free (and you can invite friends to sign up here.
- Our new ExchangeInvest website is now in beta — you can subscribe to our daily newsletter about the bourse business, at ExchangeInvest.com.
- If you just want to read our crypto market / exchange insights, Bitcarnage is now available as part of EI Daily or as a standalone in Substack — you can sign up for the separate Bitcarnage daily newsletter here.
Tay Tay Did Her DD
I recall a previous Chairman of the CFTC (and a very good one at that) who was an unabashed fan of Cher but I cannot recall any senior regulator coming out as a “Swifty.” They may wish to consider the option as it transpires Taylor Swift combined brains, beauty and an elegantly inquisitive attitude which delivers captivating Due Diligence ability which ought to dazzle any regulator who has been disillusioned with the crass money grabbing of many current folks with fame. Then again with a Father who was a stock broker, when aged 5 “Taytay” of her own admission used to tell people she wanted to be a stockbroker too.
Everyday we cover the ongoing turmoil of BTC, crypto et al in our daily “Bitcarnage” section of Exchange Invest. For more details on a free trial to our premium newsletter of the bourse business delivered to your Inbox daily, you can sign up on our new beta website ExchangeInvest.com.
Alternatively, if you want to follow Bitcarnage — the daily update on happenings in the world of crypto and digital assets, alone, then you can find Bitcarnage as a standalone on Substack.
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!
Tim Denning, Medium
If you’ve flown on American Airlines recently, there’s a chance your plane was fueled by a small amount of sustainable aviation fuel (SAF).
PLY: Another successful prediction. Okay so I geolocated mine to Malta but it was a few years back when I was the after dinner keynote speaker for the Malta Stock Exchange annual dinner. At that time I noted driverless cars would enable Malta’s burgeoning bourgeoisie to add yet another car to their stable (420K cars for 500K people and rising). This car could then autonomously feed live video of traffic jams from around the islands back to their owners at home, so they could discuss how clogged the roads are.
It’s remarkable that SFO got there first with its relatively much more expansive area.
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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.
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Catch up on Monday for Exchange Invest 2642…
The future continues in the water cooler of the bourse business…