Core Viewpoint - Investors in the Securities and Exchanges sector may find London Stock Exchange Group plc - Unsponsored ADR (LSEGY) more attractive than CME Group (CME) based on various valuation metrics and earnings outlook [1] Valuation Metrics - LSEGY has a forward P/E ratio of 21.99, while CME has a forward P/E of 23.90, indicating LSEGY may be undervalued compared to CME [5] - The PEG ratio for LSEGY is 1.89, significantly lower than CME's PEG ratio of 3.97, suggesting LSEGY offers better value when considering expected earnings growth [5] - LSEGY's P/B ratio is 2.05, compared to CME's P/B of 3.4, further supporting the notion that LSEGY is more attractively priced relative to its book value [6] Earnings Outlook - LSEGY currently holds a Zacks Rank of 2 (Buy), indicating an improving earnings outlook, while CME has a Zacks Rank of 3 (Hold), suggesting a less favorable earnings revision trend [3][7] - The positive earnings estimate revisions for LSEGY enhance its attractiveness to value investors [3][7] Value Grades - LSEGY has a Value grade of B, while CME has a Value grade of D, reflecting LSEGY's stronger position in terms of valuation metrics [6]

When December rolls around in Singapore, the first obvious sign to most Singaporeans isn’t necessarily the lights on Orchard Road.It’s Mariah Carey.The moment “All I Want for Christmas Is You” starts echoing through every mall and supermarket, we know the festive season has officially begun.. along with one of the most expensive months of the year. Between gatherings, gifts, holidays, and outings spending tends to rise even as work winds down.And that’s exactly when dividends start to feel like the real Chr ...

Core Viewpoint - Nasdaq plans to submit paperwork to the SEC for approval of around-the-clock stock trading for 23 hours a day, potentially disrupting the traditional trading hours established since the 1980s [1] Group 1: Pros of 23-Hour Trading - The initiative could democratize markets and enhance accessibility for traders outside the US, particularly those with standard 9-5 jobs [4] - José Torres from Interactive Brokers highlights that extended trading hours would allow for real-time reactions to overnight events, benefiting a broader demographic [5] - Bob Lange from Explosive Options supports the move, suggesting it will encourage more individuals to participate in trading [5] Group 2: Cons of 23-Hour Trading - Concerns exist that the trading environment may favor institutional players like hedge funds and quant firms, who possess advanced tools for rapid trading [6] - Michael Ashley Schulman warns that retail investors may face challenges in the thinner overnight market, leading to unpredictable price movements [6] - Louis Navellier expresses concerns about potential market manipulation by short sellers and overseas markets after regular trading hours [8] Group 3: Competitive Landscape - Nasdaq's push for extended trading hours appears to be a response to competition, as Robinhood has already implemented 24-hour trading for certain stocks, and the NYSE has filed for a 22-hour trading day [9]

Nasdaq expects a jump in initial public offerings next year driven by several large startups aiming to tap U.S. capital markets in coming months, a top company executive told Reuters. ...

Core Perspective - The proposal for near-24-hour trading raises concerns about market structure, particularly regarding liquidity and the potential for wider bid-ask spreads due to thinner order volumes [1][3]. Market Structure Concerns - There is a fear that extending trading hours may not attract new participants but rather dilute existing order pools, leading to increased volatility and opportunities for sophisticated traders to exploit slower retail orders [1]. - Wells Fargo analysts criticize the proposal, arguing that it could exacerbate existing issues of poor trading volumes and make equity trading resemble a casino [4][3]. Trading Hours Proposal - Nasdaq has filed a rule change to extend trading hours for U.S.-listed stocks to 23 hours a day, five days a week, with a single day session from 4 a.m. to 8 p.m. ET and a night session from 9 p.m. to 4 a.m. ET [5][6]. - The new trading schedule aims to accommodate overseas investors who wish to trade U.S. equities during their local business hours [10]. Global Market Trends - The shift towards extended trading hours aligns with global market trends, as younger traders have become accustomed to near-24/5 trading in crypto markets and some retail brokers [9]. - The Depository Trust & Clearing Corporation (DTCC) is moving towards 24/5 clearing, which supports the argument for extended trading hours by maximizing liquidity and reducing counterparty risk [11]. Industry Response - The New York Stock Exchange is also exploring extended trading hours, having received preliminary SEC approval for a model that would allow trading for 22 hours a day [12]. - The broader industry appears to be moving towards standardized extended hours, indicating a significant shift in market operations [13]. Future Outlook - There is speculation about the potential for U.S. stocks to trade 24/7 in the future, although current plans are limited to 23 hours a day to allow for necessary downtime [14]. - The direction of market operations is clearly leaning towards continuous trading, reflecting changing investor expectations and behaviors [14].

Core Insights - Brazil's main stock exchange B3 is set to enhance its involvement in the cryptocurrency sector by launching a tokenization platform and its own stablecoin in the upcoming year [1][2] Group 1: Tokenization Platform - The tokenization platform will enable assets to be tokenized and traded on the exchange, with both the tokenization system and the stablecoin sharing the same liquidity pool [1][2] - The transition will be seamless for token buyers, as they will not be aware of whether they are purchasing from a traditional stock seller [2] Group 2: Stablecoin Development - B3 plans to issue a stablecoin linked to the Brazilian real, which will function as a payment and clearing tool within the tokenized environment, thereby reducing reliance on existing cash processes [3][2] - The stablecoin is expected to facilitate token trading on the exchange [3] Group 3: Crypto-Linked Derivatives - B3 is expanding its offerings in crypto-linked derivatives, including weekly options on bitcoin, ether, and solana, as well as event-based contracts tied to crypto prices, which are currently under review by Brazil's securities regulator, the CVM [3] Group 4: Current Market Position - Over the past several years, B3 has built significant exposure to cryptocurrencies through listed products, including a crypto ETF launched in April 2021, which was ahead of the U.S. market [4] - Approximately 600,000 investors hold these products, which account for about $2.4 billion in assets under management [4] Group 5: Real-World Asset Market - The real-world asset (RWA) market has reached over $18 billion this year, with the majority of tokenized assets being commodities and U.S. Treasury debt [5]

Group 1 - The proposed global trading hours would start at 4:00 a.m. and end at 8:00 p.m., followed by a one-hour break for maintenance, testing, and clearing [1] - Critics, including Wells Fargo's Trading Desk, argue that this change could further gamify the stock market, making trading resemble gambling more than investing [1] - Concerns have been raised about liquidity, staffing, and the potential for increased volatility due to extended trading hours [1][4] Group 2 - The evolution of digitization, decentralization, gamification, and tokenization is expected to be fully realized by 2026, indicating a significant transformation in the market [2] - Continuous trading without a closing window may lead to behavioral changes among investors, encouraging them to trade more frequently [3] - The potential for wide price swings during low liquidity periods could increase volatility and negatively impact investors [4]

World Stock Exchange, whether it's the French one, the Dutch one, the German one are too small. Do you think do you think they'll grow or actually as much they should merge all of them. I mean, there's talk about merging right now, but the French is already with Milano and Wiz with Holland.But the German people have always tried to do something on their side. They they did an acquisition, I remember recently, but it's not on the stock market. But that would be they should just should just merge. ...

Core Viewpoint - Nasdaq is planning to submit a proposal to the SEC for nearly 24-hour trading of U.S.-listed equities and exchange-traded products, aiming for implementation in the second half of 2026 [1] Trading Hours Expansion - The proposed trading hours would extend to 23 hours each weekday, from the current 16 hours, with a "day session" from 4 a.m. to 8 p.m. Eastern time, followed by a one-hour maintenance break, and a "night session" from 9 p.m. to 4 a.m. [2] Market Concerns - Critics argue that nearly nonstop trading could exacerbate existing issues in equity markets, such as thin liquidity, sharp price swings, and a more gamified trading environment [3] - Concerns have been raised about the impact on listed companies, as continuous trading could disrupt their ability to manage news releases and meetings without affecting market movements [4][5] Liquidity Issues - Wells Fargo noted that liquidity already clusters around market open and close, questioning the effectiveness of extending trading hours further [7] - The industry is facing skepticism regarding whether firms would need to staff trading desks around the clock to accommodate the extended hours [7][8] Purpose of Trading Pauses - Trading pauses are seen as beneficial for allowing markets to digest information and for participants to reset, with concerns that continuous trading could lead to increased volatility [8][9]

Core Viewpoint - Nasdaq is seeking to implement round-the-clock trading sessions for U.S. stocks, extending trading hours to 23 hours a day, five days a week, with a one-hour break [1][4] Group 1: Trading Hours Expansion - Nasdaq aims to add a trading session from 9 P.M. to 4 A.M. ET, reflecting the demand for more flexible trading options from global investors [1][2] - The New York Stock Exchange is also considering extending trading hours to 22 hours, indicating a broader trend in the industry towards longer trading sessions [4] Group 2: Market Demand and Participation - Increased participation from retail investors has driven the demand for extended trading hours, highlighting a shift in market dynamics [3] - The rise of betting apps like Polymarket has contributed to the desire for continuous market access, suggesting a changing landscape in investor behavior [3] Group 3: Potential Implications - Analysts have raised concerns about potential increased volatility and larger price swings due to reduced time for investors to process financial events [4] - Nasdaq anticipates launching the extended trading session in the third quarter of 2026, coinciding with a 20% growth in the Nasdaq index since the beginning of the year [4]