Group 1 - Nvidia's performance is positively influencing futures, with key indexes attempting to recover from recent losses [1] - Merck's stock experienced a significant increase due to a surprise win for its drug, sotatercept, in treating pulmonary hypertension [2] - CME Group and Marathon Petroleum are highlighted as strong stocks to monitor in the current market environment [1] Group 2 - Ligand Pharma's stock has surged by 88% this year, driven by its involvement in two major drugs [4] - The market is seeing a focus on stocks near buy points, including CrowdStrike and Valero, as oil refinery margins improve [4] - Merck is actively engaging in acquisitions, exemplified by its $9.2 billion deal for Cidara Therapeutics [4]

Core Points - Euronext successfully launched a €600 million bond issuance with a 3-year maturity and an annual coupon of 2.625%, rated "A-" by S&P [1][3] - The bond issuance was significantly oversubscribed, with an order book exceeding €3 billion, indicating strong investor confidence [2][3] - Proceeds from the bond will be utilized for general corporate purposes, including refinancing existing debt, aligning with Euronext's strategic goals [2][3] Company Overview - Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, including listing, trading, clearing, settlement, and custody [5] - As of September 2025, Euronext's regulated exchanges host over 1,700 listed issuers with a total market capitalization of €6.5 trillion, making it a significant player in European equity trading [6] - Euronext handles 25% of European lit equity trading and offers a diverse range of products, including equities, FX, ETFs, bonds, derivatives, commodities, and indices [6]

Core Insights - Nvidia's upcoming earnings report is highly anticipated, with futures indicating market interest [1] - CME Group's stock is showing a first-stage cup base pattern, with an entry point at $288.28 and support at the 200-day line [1] - Merck has recently broken out past its latest buy point amidst ongoing stock market volatility [2] Group 1: Company Performance - CME Group Cl A has achieved a relative strength rating upgrade, reaching an 80-plus benchmark [4] - The stock market is experiencing volatility, impacting trading exchanges like CME and Cboe, which have lost support levels [4] Group 2: Market Trends - The stock market is currently volatile, with various sectors, including Netflix and ADMA, being affected [4] - CrowdStrike is highlighted as a stock to watch, indicating potential investment opportunities as the market stabilizes [4]

Core Insights - Trading activity on the Tradeweb European ETF marketplace reached a total volume of EUR 72.8 billion [3] Group 1: European-Listed ETFs - The total traded volume for European-listed ETFs was EUR 72.8 billion, indicating significant trading activity in this market [3]

Group 1 - Flutter, the parent company of FanDuel, announced a partnership with CME Group to launch a new prediction markets platform called FanDuel Predicts, set to launch in December [1] - Prediction markets allow bettors to place wagers on the outcomes of various events, indicating a growing trend in the betting industry [1] Group 2 - DraftKings is entering the prediction markets space, indicating competition in this emerging sector [4] - Robinhood reported a doubling of revenue and more than tripled earnings, showing significant growth in the financial services sector [4]

Group 1: CPF Advantage - CPF savings provide guaranteed interest rates set by the Singapore Government, with the Ordinary Account earning 2.5% per annum and the Special, Retirement, and MediSave Accounts earning 4.0% per annum [3][5] - A 30-year-old contributing S$500 monthly to the Special Account for 25 years will accumulate approximately S$100,000 in compounded interest, leading to a total of S$220,000 by age 55 [4][9] - CPF Life offers guaranteed monthly payouts for life, providing a safety net unmatched by other retirement plans [4] Group 2: Dividend Stock Advantage - Dividend stocks offer higher potential returns but come with greater risks and no government guarantees [6][11] - Quality blue-chip companies like DBS Group Holdings, Singapore Exchange Limited, and Parkway Life REIT are highlighted as suitable retirement holdings, with DBS yielding 5.2% and Parkway Life yielding 3.8% [7][8] - An STI-tracking portfolio could yield almost S$550,000 in interest over 20 years at an annualized return of 8.9%, significantly outperforming CPF's returns [10] Group 3: Understanding Trade-offs - The trade-off between risk and return is emphasized, with CPF providing predictable returns and dividend stocks offering high potential but greater volatility [11][12] - Long-term investors can mitigate volatility through diversification and disciplined strategies like dollar-cost averaging [12] Group 4: Common Mistakes to Avoid - Common mistakes include premature withdrawal of CPF funds, chasing high dividend yields without understanding risks, and overconcentration in a single sector [13][14] - Sustainable dividend payers typically offer moderate yields backed by consistent cash flows, contrasting with high-yield stocks that may indicate financial distress [14] Group 5: Investment Strategy - A hybrid approach is recommended for Singaporean investors, using CPF as a risk-free foundation and layering dividend stocks for income growth [15][16] - The key to securing financial future lies in balancing CPF for safety with dividends for growth, tailored to individual risk tolerance and retirement timeline [17]

Core Viewpoint - The CEO of Robinhood Markets Inc. predicts that traditional trading hours are becoming obsolete due to asset tokenization, which will enable 24/7 global markets [1][2]. Group 1: Market Structure and Future Predictions - Vlad Tenev argues that the current market structure, which includes closures on weekends and holidays, is a temporary limitation that will soon seem outdated [2]. - Tenev compares the shift towards 24/7 trading to the advent of mobile trading, suggesting that access to constant trading will soon be taken for granted [3]. Group 2: Robinhood's Initiatives - Robinhood is already utilizing blockchain technology in Europe to facilitate 24/7 trading and faster settlements, as stated by Johann Kerbrat, GM of Robinhood Crypto [3]. - The company is developing its own Layer 2 blockchain based on Arbitrum technology to support the tokenization of assets like stocks and ETFs for European customers [4]. Group 3: Industry Trends - The financial industry is increasingly moving towards tokenized, always-on trading, with Robinhood not being the only player in this space [4]. - Competitor Kraken has also launched 24/7 tokenized stock trading for global users via the Solana blockchain in the European Union, aiming to reduce friction and high fees for international investors [5].

Core Insights - OTC Markets Group Inc. reported strong financial results for the third quarter of 2025, with significant growth in revenues and net income compared to the same period in 2024 [1][4]. Financial Performance - Gross revenues reached $31.6 million, reflecting a 15% increase year-over-year [4][8]. - Operating income was $10.6 million, up 23% from the previous year [4][8]. - Net income increased to $8.6 million, a 15% rise compared to the prior year, with diluted GAAP EPS of $0.71, up 16% [4][5]. - Adjusted diluted earnings per share rose to $1.06, marking a 19% increase [8][17]. Revenue Breakdown - OTC Link revenues increased by 23% to $6.4 million, driven by elevated trading volumes [3][8]. - Market Data Licensing revenues grew by 15% to $12.5 million, with professional user revenues increasing by 30% [3][8]. - Corporate Services revenues rose by 12% to $12.7 million, bolstered by the launch of OTCID and improved sales [3][8]. Operating Expenses - Operating expenses increased by 8% to $17.9 million, primarily due to higher compensation and benefits, professional fees, and IT infrastructure costs [8][3]. Shareholder Returns - The company returned $2.2 million to shareholders in the form of dividends during the quarter [4]. - A special dividend of $1.75 per share and a quarterly dividend of $0.18 per share were announced [6]. Market Position - As of September 30, 2025, there were 553 OTCQX and 1,097 OTCQB companies, with 19 companies graduating to a national securities exchange during the quarter [4][8]. - The average daily trades increased to approximately 59,000, up from about 35,000 in the prior year [4].

Core Viewpoint - Nasdaq has announced its intent to launch a new dual listing venue called Nasdaq Texas, aimed at expanding its services for companies in Texas and providing new growth and investment opportunities for U.S. investors [3][6]. Group 1: Nasdaq Texas Launch - Nasdaq Texas will operate as a dual listing venue, allowing eligible companies to list and trade while benefiting from Nasdaq's technology and regulatory standards [4][6]. - The initiative is part of Nasdaq's broader effort to strengthen its presence in Texas, which includes over 200 listed companies in the state with a combined market capitalization exceeding $2 trillion [5]. Group 2: Industry Collaboration and Celebration - The announcement was made during the 8th Annual Permian Basin BBQ Cook-Off, highlighting the importance of the Permian Basin to America's energy future and the collaboration among industry leaders [2][4]. - Executives and innovators from the energy sector gathered to celebrate and discuss the future of the industry and Texas's economic growth [2]. Group 3: Business-Friendly Environment - The launch of Nasdaq Texas follows recent corporate law innovations by the Texas Legislature aimed at creating a more business-friendly environment, positioning Texas as a leading jurisdiction for companies seeking modern governance [6].

他续指，此次合作将释放流动性、促进产品创新，提升香港风险管理中心的功能。此次合作亦将促进探 索双方托管的债券及资产作为抵押品的互通性，提升抵押品管理效率、有效释放潜在流动性，并促进股 票市场和固定收益及货币市场更好联动发展。通过建立综合的抵押品平台，有助市场参与者更好地进行 对冲和风险管理，提升香港风险管理中心的功能，有关基建亦会引入数字资产，例如代币化债券和股 票。 另外，陈茂波呼吁各界于12月7日香港立法会选举中投票。 智通财经APP获悉，11月12日，香港金管局、港交所(00388)及迅清结算控股就深化策略伙伴合作举行签 约仪式。香港财政司司长陈茂波致辞时指，此次策略性合作是加速推动金融基建高效联通关键一步，更 加是香港金融市场跨越式发展。他称，此次合作在香港的金融发展蓝图中有着重大意义。该交易突显香 港力求杠杆更大的市场力量，加速推动金融基建的高效联通与创新发展。香港金管局和港交所强强联 手，为香港国际金融市场提速和深化发展创造有利条件。 他还表示，此次合作将助力人民币国际化，进一步提升香港国际金融中心地位。离岸人民币市场持续发 展，人民币国际化正稳慎推进，市场对离岸人民币资金管理及投资产品的需求持续 ...