[00:00:06] Welcome to the John Lothian News daily Update podcast for December 8, 2023. I am your host, John Lothian. In this podcast, we provide an overview of the content featured in today's John Lothian newsletter. We'll cover insights from the hits and takes section, share stories from the first read section, highlight the top three stories from the previous editions of both JLN and JLN options, and delve into the first three stories featured in the lead section of today's JLN. This podcast is brought to you by John Lothia News the proud home of markets wiki and Markets wiki Education. We invite you to explore our extensive collection of trading history videos on the MarketsWiki Education
[email protected]. This includes the Openout card, Traders History Project and the path to electronic trading video series. Thank you for joining us. Here are the hits and takes comments from today's JLN On December 7, 2023, the Milken Institute's MEA Summit held a panel discussion titled the New Tech Economy Transforming Challenges into opportunities in Abu Dhabi, UAE. The panel, moderated by Jack Selby, Managing Director at Thetal Capital, featured Don Wilson, the founder and CEO of DRW holdings, as one of the prominent speakers. Besides a focus on AI, Wilson was asked about blockchain and crypto. His answers were worth the watch. He said he is still excited about blockchain.
[00:01:46] The Financial Times is reporting that the UK commodities broker and clearing firm Merrix has submitted confidential paperwork to pursue a listing in the United States, bypassing its initial plan to list on the London Stock Exchange. The company revealed its intention to go public in New York after filing the necessary documents with the US securities and Exchange Commission. Sec. Merrix is aiming for a valuation ranging from 2.2 billion to 2.8 billion, a significant increase compared to its previous valuation goal during its 2021 attempt to list in London. The decision highlights Merrick's shift in focus towards the US market.
[00:02:38] Sharon Bowen, Chair of the NYSE, continues to make history she was just honored as the NYSE chair by having her portrait unveiled on the walls of the chair room at Eleven Wall street alongside eight former NYSE chairmen. For the second year in a row, NYSE President Lynn Martin has been chosen by Forbes for the world's Most powerful Women list.
[00:03:09] The CME Group is hiring another of the CME Group foundation scholars for a full time position starting in January. Congratulations to a Zzat Balagan on being hired by the CME Group. My ex posted to LinkedIn yesterday that quote Today marks the eleven year anniversary of the MYX Options Exchange launch and we would like to thank all of our employees for their hard work and dedication. We would also like to thank our investors, directors and member firms for their support over the past eleven years. Our most read stories from our previous edition of JLN options were Options Trading is rigged against average investors from Bloomberg Statement on the fall 2023 regulatory agenda from SEC Sibo to focus on internal growth after acquisitions from Crane Chicago Business subscribe to the free JLN Options newsletter with a link in today's newsletter. Here are more stories from the first read section of today's JLN. Here's a story from the Wall Street Journal. The headline Biden says we're not giving up on push to secure Evan Gershkovich's release president says U. S. Has made several offers aimed at freeing Americans detained in Russia President Biden pledged to continue pressing for the release of detained Wall Street Journal reporter Evan Gershkovych days after his administration revealed that the Russian government rejected a new offer aimed at freeing the American journalist. My comment smart man. If he did give up, Biden would not only lose the journalist vote, he would have them write editorials against him for not supporting Evan. Free Evan now here's another story, this one from Bloomberg. The headline Mackenzie Scott donates $2 billion to 360 different charities. Gifts range from abortion pill provider to journalist group. Scott now has given away $16.5 billion since Bezos divorce. Mackenzie Scott donated $2.15 billion to charity over the past year, with gifts going to nonprofits ranging from the Asian American Journalists association to an abortion pill provider. She's given to 360 organizations since last December, including numerous legal aid clinics and community health nonprofits, according to an announcement this week on her website yield giving. She didn't disclose how much each charity received. My Comment the spirit of philanthropy flows from Mackenzie Scott like few others. Here's another story, this one from the Financial Times. The Headline the best way to invest in gold, an insider secret for non criminals There was lots of humming and huffing in the Kirk household this week after gold prices hit a record high last Friday. Not that I can afford even the smallest memorial coin, but my wife is a jeweler, so we have skin in the game. I rarely comment on gold when journalists do. Insane end of worlders leap from their bunkers to scream abuse. Fiat money is a sham. Governments can't be trusted. Zombies are coming. My comment the secret is aggregator, auction sites, and you buy a piece of jewelry for below retail and below spot gold prices. Here are the top three stories from Thursday's JLN Our most clicked item on Thursday was our markets Wiki page for Sean Smith, who has joined the board of directors of Horizons National Chicago, HNC, an organization focused on educational equity. Second was the Abex press release. Abex granted approved Clearinghouse and recognized market operator licenses from Monetary Authority of Singapore. Third was a tie between our markets wiki page for the Monetary Authority of Singapore and Options Trading is rigged against average investors. An opinion piece from Bloomberg. Here are the top three stories from the lead section of today's JLN. The first story is from the Wall Street Journal and is a story we referenced earlier. Broker Merrick spurns London with planned US IPO Merrick's group, a brokerage best known for dealing metals in the London Metal Exchange's storied ring, is preparing a US listing. UK based Merricks has filed paperwork for a planned initial public offering with the securities and Exchange Commission, it said Friday. Two years ago, the private equity owned company canceled plans to list in London. A series of high profile companies have chosen to list in the US instead of London, prompting hand wringing in the UK about how the city can regain its appeal. New York's selling points include deeper and more liquid markets, plus higher executive pay. Here's a press release from Intercontinental Exchange ICE Announces approval of electronic trade document solution for the delivery of commodities globally Intercontinental Exchange Inc. A leading global provider of data technology and market infrastructure, today announced that its ICE Cargo docks Local law Electronic bill of Lading solution has received approval by global shipping insurance body, the international Group of Protection and Indemnity Clubs IGP and I, helping accelerate ICE's work to replace paperbased trade delivery documentation with electronic documents. IGPNI represents the twelve clubs providing marine liability cover for 90% of the world's ocean ship tonnage. The approval coincides with the UK and Singapore, two critical shipping jurisdictions recently changing their laws to recognize electronic bills of lading as the legal equivalent of paper, giving commodity trade participants certainty that electronic bills of lading, governed by the UK and Singapore law, are now recognized in those jurisdictions. And then here's another story, this one from Bloomberg. The headline spot Bitcoin ETFs are almost here. When it comes U. S. Securities and Exchange Commission approval will be just the beginning.
[00:10:09] After more than a decade long wait, it's looking like the first ever spot bitcoin exchange traded funds will soon arrive in the US. But despite the heated race just to get off the starting line, securities and Exchange Commission approval is actually where the real story begins. Who among the dozen or so issuers that have filed so far will even make it off the blocks. How will these ETFs differentiate themselves? Who exactly are the prospective investors?
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[00:11:13] Thank you for your support. Have a great day and stay safe and treat people the same way you want to be treated, with respect, equality, and justice. This has been. John Lothian Goodbye. This podcast has been produced by Andrew Lothian.
