Hello and welcome to Market Domination. I'm Josh Lipton live from our New York headquarters. There just now to go now until the closing bell and stocks are mixed here. The NASDAQ is the worst performer. Our very own Jared Blickery is breaking down all the moves. Jared, >> another nasty day for tech. We're going to dig inside that in a second here. Let's check out the Wi-Fi interactive where we see kind of a mixed market right now. Here's the Dow. It's up 336 points or 7/10 of 1% and you can see we're back i ...

Core Viewpoint - CME Group is actively considering launching its own cryptocurrency and moving all crypto products to 24/7 trading, indicating a strategic shift in its approach to digital assets [1][2]. Group 1: Cryptocurrency Initiatives - CME Group is collaborating with Google on a tokenized cash initiative aimed at secure wholesale payments and asset tokenization, expected to roll out later this year [2]. - The company is exploring the potential of launching its own coin on a decentralized network, which distinguishes it from competitors like Citigroup and JPMorgan that are using private networks for tokenization [2]. Group 2: Trading Operations - CME Group has been contemplating 24/7 trading for its crypto products for some time, with plans to begin around-the-clock trading for cryptocurrency futures and options in early 2026, pending regulatory review [3]. - The firm is preparing to launch futures for XRP and Solana, alongside other cryptocurrencies like Chainlink, Cardano, and Stellar [3]. Group 3: Trading Volume Performance - In 2025, CME Group reported record cryptocurrency trading volumes, with an average daily volume increase of 92% year-over-year in Q4, translating to over $13 billion in notional value traded per day [4].

Group 1: CME's Crypto Initiatives - CME Group is exploring the launch of its own cryptocurrency that could operate on a decentralized network, as confirmed by CEO Terry Duffy during the latest earnings call [2][5] - The company is also working on a "tokenized cash" solution in collaboration with Google, set to launch later this year, which involves a depository bank facilitating transactions [4] - Duffy emphasized the importance of the source of collateral, indicating a preference for tokens from systemically important financial institutions over those from lesser-known banks [3] Group 2: Market Performance and Technical Analysis - CME's average daily crypto trading volume reached a record $12 billion last year, with micro-ether and micro-bitcoin futures contracts being top performers [6] - CME stock has broken out from an inverse head and shoulders pattern, with a target price of $320, following a successful breakout above the neckline at $290 [7][9] - The stock is showing strong bullish momentum, with all EMAs in bullish alignment and an RSI of 72.99, indicating overbought conditions [8]

CME Group CEO Terry Duffy has suggested the derivatives giant is exploring launching its own cryptocurrency. In response to a question from Morgan Stanley’s Michael Cyprys during the company’s latest earnings call, Duffy confirmed the firm is exploring “initiatives with our own coin that we could potentially put on a decentralized network.” The comment was brief and came in response to a question about the role of tokenized collateral. In response, Duffy first noted that the world’s largest derivatives ...

Publicly traded Swiss bank UBS Group AG (UBS) is creating a path to tokenized services and crypto access for its clients, the firm’s CEO confirmed on its Q4 earnings call on Wednesday.  The firm, which manages invested assets of more than $7 trillion, has seen its shares drop around 6% on Wednesday, recently changing hands at $44.79.  “As digital assets become a more relevant part of the financial system, we are taking a focused client-led approach,” CEO Sergio Ermotti said on the call. “We are building ou ...

About half of our funds beat their peer group, across the time periods, with 49%, 56%, 46%, and 61% outperforming on the one, three, five, and ten-year time periods respectively. For the three, five, and ten-year time periods, asset-weighted performance is stronger, with 72%, 54%, and 79% of fund assets beating their peer groups for the respective periods. For the one-year time period, 42% of fund assets beat their peer groups. On an asset-weighted basis, over half of our equity funds beat their peer groups ...

Financial Data and Key Metrics Changes - The company closed 2025 with $1.78 trillion in assets under management, an increase of over 10% from the start of the year, despite experiencing $56.9 billion in net outflows [4][16] - Adjusted diluted earnings per share for Q4 2025 was $2.44, bringing full-year adjusted diluted EPS to $9.72, which is up 4.2% from 2024 [16] - Q4 adjusted net revenue was $1.9 billion, raising full-year adjusted net revenue to nearly $7.4 billion, an increase of 2.8% from 2024 [18] Business Line Data and Key Metrics Changes - Net outflows were concentrated in the equity and mutual fund business, with $75 billion of net outflows from equity and almost $64 billion from mutual funds in 2025 [5][16] - Fixed income and alternatives had positive net flows for the quarter, with fixed income delivering eight consecutive quarters of positive net flows [17] - The target date franchise ended the year with net inflows of $5.2 billion, while the ETF business had $1.8 billion in net inflows during Q4 [17] Market Data and Key Metrics Changes - The company noted a narrowing market dominated by a handful of mega-cap stocks, with riskier names outperforming quality and value [4] - The company experienced elevated redemptions from its legacy equity and mutual fund business, but strong equity market returns offset the net outflows [16] - The company maintained its position as an industry leader in active target date solutions, surpassing $560 billion in assets under management across a diverse suite of solutions [10] Company Strategy and Development Direction - The company established a strategic collaboration with Goldman Sachs to pursue opportunities in wealth and retirement through co-developed public-private offerings [9] - The company is focused on integrating digital capabilities and enhancing its strategic vision through organizational changes [13][14] - The company is investing in growth areas such as ETFs, SMAs, and alternatives, while maintaining a strong cash position for potential acquisitions [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's plan and people, noting improvements in investment performance across several key strategies [7] - The company anticipates continued pressure in equity flows, but expects to offset this with inflows in target-date funds and growth in fixed income and alternatives [45] - Management highlighted the importance of equity market returns on operating margins and the need to balance investments for long-term success [26][27] Other Important Information - The company returned nearly $1.8 billion of cash to stockholders and extended its regular dividend for the 39th consecutive year [6][23] - The company launched 13 ETFs in 2025, bringing its total to 30, with assets under management growing to over $21 billion [11] Q&A Session Summary Question: Operating perspective for 2026 and margin outlook - Management indicated that equity market returns are the biggest factor affecting operating margins and that a portion of expenses is variable [25][26] Question: Tokenization and blockchain experimentation - The company is investing in digitization capabilities and exploring efficiency, product, and distribution opportunities related to tokenization [32][33] Question: Migration of privates into the 401(k) channel - Management noted that the investment case for including private market alternatives in defined contribution solutions is strong, but there is mixed sentiment among plan sponsors [36][37] Question: Target date business outlook - Management acknowledged softer flows in Q4, driven by equities, but noted that the blend category is growing faster than passive, which could help mitigate headwinds [41][43] Question: AI disruption exposure - Management stated that the company has been studying AI disruption risks and opportunities, and is positioned to adapt to changing market environments [49][52]

T. Rowe Price Group (NasdaqGS:TROW) Q4 2025 Earnings call February 04, 2026 08:00 AM ET Company ParticipantsAlexander Blostein - Managing DirectorBen Budish - DirectorBrennan Hawken - Managing DirectorCraig Siegenthaler - Managing DirectorDan Fannon - Managing DirectorEric Veiel - Head of Global InvestmentsJennifer Dardis - CFOLinsley Carruth - Head of Investor RelationsMichael Cyprys - Managing DirectorPatrick Davitt - PartnerRobert Sharps - CEOConference Call ParticipantsKen Worthington - Senior Equity Re ...

Financial Data and Key Metrics Changes - The company closed 2025 with $1.78 trillion in assets under management, up over 10% from the start of the year, despite $56.9 billion in net outflows [4] - Adjusted diluted earnings per share for Q4 2025 was $2.44, bringing full-year adjusted diluted EPS to $9.72, which is up 4.2% from 2024 [16] - Q4 adjusted net revenue was $1.9 billion, raising full-year adjusted net revenue to nearly $7.4 billion, an increase of 2.8% from 2024 [18] - Adjusted operating expenses for Q4 were $1.2 billion, bringing full-year adjusted operating expenses to $4.6 billion, which is up 3.4% from 2024 [21] Business Line Data and Key Metrics Changes - Net outflows were concentrated in the equity and mutual fund business, with $75 billion of net outflows from equity and almost $64 billion from mutual funds in 2025 [5] - Fixed income and alternatives had positive net flows for the quarter, with fixed income delivering eight consecutive quarters of positive net flows [17] - The target date franchise ended the year with net inflows of $5.2 billion, while the ETF business had $1.8 billion in net inflows during the quarter [17] Market Data and Key Metrics Changes - The company experienced elevated redemptions from its legacy equity and mutual fund business, but strong equity market returns offset the net outflows [16] - The average effective fee rate for Q4 was 38.8 basis points, down from 39.1 basis points in Q3 2025, driven by changes in asset and vehicle mix [19] Company Strategy and Development Direction - The company established a strategic collaboration with Goldman Sachs to pursue opportunities in wealth and retirement through co-developed public-private offerings [9] - The company is focused on integrating digital capabilities and enhancing its strategic vision through organizational changes [13] - The company plans to launch an active crypto ETF in 2026, utilizing a blend of fundamental and quantitative analysis [34] Management's Comments on Operating Environment and Future Outlook - Management noted that the biggest factor affecting operating margins is equity market returns, with a portion of the expense base being variable [26] - The company anticipates continued pressure in equities but expects to offset this with inflows in target-date funds and growth in fixed income and alternatives [45] - Management expressed confidence in the company's strategic initiatives and the ability to navigate changing market cycles [22] Other Important Information - The company returned nearly $1.8 billion of cash to stockholders and extended its regular dividend for the 39th consecutive year [5] - The company launched 13 ETFs in 2025, bringing the total to 30, with assets under management growing to over $21 billion at year-end [11] Q&A Session Summary Question: How is the company planning for 2026 in terms of operating expenses? - Management indicated that a third of the expense base is variable and that they are balancing cost savings with investments in growth areas [26][28] Question: What is the company's approach to tokenization and blockchain? - The company is exploring efficiency opportunities, product opportunities, and distribution opportunities related to tokenization and blockchain [33] Question: What is the outlook for the target date business given recent outflows? - Management noted that outflows were driven by M&A activity and that the company is well-positioned to mitigate headwinds with strong blend and hybrid offerings [43][44] Question: How does the company expect to respond to recent market disruptions? - Management stated that client reactions vary, but the overall impact on flows is not expected to be substantial in the long term [48] Question: What is the company's exposure to investments potentially disrupted by AI? - Management emphasized that they have a rigorous credit process and are well-positioned to navigate potential disruptions in the market [53]

Through a partnership with Billiton Diamond and tokenization firm Ctrl Alt, Ripple-backed custody technology secured $280 million in polished diamonds on the XRP (CRYPTO: XRP) Ledger, the companies announced Tuesday in Dubai. The Diamond Tokenization Setup Billiton Diamond and Ctrl Alt moved over AED 1 billion ($280 million) worth of certified polished diamonds on-chain in the UAE. Ripple’s enterprise custody tools secure the physical diamonds, while the XRP Ledger creates digital tokens representing ow ...