At a time when listing deals are scarce, Nasdaq has enjoyed one of the world's most packed initial-offering calendars. ...

Core Viewpoint - Nasdaq has proposed a new rule to block IPOs even if companies meet listing standards if there are red flags indicating potential stock manipulation [1] Group 1 - The proposed rule aims to enhance the integrity of the IPO process by allowing Nasdaq to intervene based on detected vulnerabilities [1] - This move reflects a proactive approach to prevent market manipulation and protect investors [1] - The rule signifies a shift in regulatory practices, emphasizing the importance of scrutinizing companies beyond just meeting standard requirements [1]

PresentationJan StreckerHead of Investor Relations Welcome, ladies and gentlemen, and thank you for joining us today for the Capital Markets Day of Deutsche Börse Group. It's great to see so many of you here in the room today, but we would also like to extend a warm welcome to the participants on the live video webcast. We have a full agenda today. The presentations will last for around about 2 hours, maybe a little bit more. And afterwards, there is sufficient time to address all of your questions. At arou ...

Core Insights - Euronext announced the results of the annual review for the PSI® index, effective from December 22, 2025, with no changes in the index composition for the December 2025 quarterly review [1][2]. Company Overview - Euronext operates as a leading European capital market infrastructure, covering the entire capital markets value chain, including listing, trading, clearing, settlement, and custody [4]. - 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, handling 25% of European lit equity trading [5]. Recent Developments - In November 2025, Euronext successfully acquired a majority stake in the Athens Stock Exchange (ATHEX), enhancing its pan-European market infrastructure [6].

Group 1 - The focus is shifting to Euronext (EUXTF, ERNXY) for an updated assessment after reviewing London Stock Exchange Group plc and Deutsche Börse AG [1] - The analysis is conducted by buy-side hedge professionals who specialize in fundamental, income-oriented, long-term analysis across sectors in developed markets [1] Group 2 - The analyst has a beneficial long position in the shares of EUXTF and ERNXY through stock ownership, options, or other derivatives [2] - The article expresses the analyst's own opinions and is not influenced by compensation from any company mentioned [2]

Group 1: Retirement Concerns - More Singaporeans are questioning if the traditional reliance on CPF and property is sufficient for retirement as costs rise and ambitions increase [1] - The aspiration to build a stock portfolio for dividends and wealth accumulation is seen as a pathway to a stress-free retirement, but its feasibility is under scrutiny [1] Group 2: Stock Performance and Income Generation - Stocks provide both steady dividend income and long-term capital appreciation, contributing to their superior performance compared to other asset classes [2] - The Straits Times Index (STI) has delivered an annualized total return of 8.38% over the past decade, highlighting the growth potential of equities [2] - Dividend portfolios, such as those tracked by the iEdge APAC Financials Dividend Plus Index, currently yield 5.22% on a trailing basis, offering reliable income [3] Group 3: Inflation and Dividend Growth - Companies like Singapore Exchange (SGX) have increased dividends from S$0.30 per share in FY2018 to S$0.375 in FY2025, reflecting a growth rate of approximately 3.2% annually, which outpaces Singapore's average inflation rate of 2.24% [3][4] - Mapletree Logistics Trust (MLT) also demonstrates strong dividend growth, with annual payouts increasing from S$0.079 in FY2018/2019 to S$0.088 in FY2021/2022, growing at over 5% annually [4] Group 4: Risks of Stock Investments - Stock portfolios are subject to market volatility, which can impact retirees who withdraw funds during downturns, locking in losses [6] - The pandemic highlighted risks when CapitaLand Integrated Commercial Trust (CICT) saw a 27.4% drop in DPU from S$0.1197 in FY2019 to S$0.0869 in FY2020 due to rental waivers and lower tenant sales [8] Group 5: Diversification and Income Planning - Successful income portfolios should diversify across dividend stocks, REITs, and growth companies to mitigate risks and ensure steady returns [10] - A well-structured dividend portfolio yielding 5% on S$1 million can generate about S$50,000 annually, providing a sustainable cash flow for retirement [11][12] Group 6: Asset Class Comparison - Singapore's Central Provident Fund (CPF) offers guaranteed returns but lacks flexibility, while bonds provide predictable income but may underperform against inflation [14] - Stocks are characterized by high liquidity and potential for growth, with a long-term return of approximately 8% per year, but they require emotional discipline and a long investment horizon [15] Group 7: Retirement Income Goals - A "comfortable" retirement is often defined as replacing 60-80% of pre-retirement income, translating to an annual target of S$40,000 to S$60,000 for many Singapore households [16] - A retirement portfolio of S$1 million to S$1.5 million, yielding 4% to 5%, can support this income level without depleting capital too quickly [17] Group 8: Ongoing Retirement Planning - Sustainable retirement planning involves balancing withdrawals, dividends, and capital growth, ensuring that wealth is replenished over time [18] - Regular reviews and strategic reinvestment of surplus income can significantly extend the lifespan of a retirement portfolio [18]

Many Singapore investors rely on CPF as the foundation of their long-term savings. With guaranteed interest of 2.5% in the OA and 4% in the SA, CPF offers stability that is difficult to match.But while CPF provides a strong baseline, it is not the only way to earn steady, predictable returns. Investors who are looking for additional income, greater flexibility and the potential for long-term growth may consider dividend-paying stocks as a complement to CPF.One approach is to focus on cash-rich, fundamentall ...

We came across a bullish thesis on Nasdaq, Inc. on The Diversified Fins Analyst’s Substack. In this article, we will summarize the bulls’ thesis on NDAQ. Nasdaq, Inc.'s share was trading at $89.36 as of December 1st. NDAQ’s trailing and forward P/E were 31.91 and 24.04 respectively according to Yahoo Finance. Best Foreign Stocks To Buy Now Nasdaq, Inc. (NDAQ) reported strong 3Q25 results, with total net revenue of $1,315 million, up 1% sequentially and 11% year-over-year, driven primarily by Capital Acce ...

Core Insights - The article discusses the London Stock Exchange Group plc in light of its Q3 trading update and the broader market context, particularly following a note on Deutsche Börse AG [1]. Group 1: Company Performance - The London Stock Exchange Group plc has released its Q3 trading update, which is a significant event for investors and analysts [1]. - The update is expected to provide insights into the company's performance and market positioning, especially in comparison to its peers [1]. Group 2: Market Context - The analysis is prompted by the opening of doors for buy-side hedge professionals who are conducting fundamental, income-oriented, long-term analysis across sectors globally [1]. - This indicates a growing interest in the London Stock Exchange Group as part of a broader trend in developed markets [1].

Core Insights - TMX Group Limited reported trading statistics for November 2025 across its marketplaces, including the Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, and Montréal Exchange [1] Overall Market Performance - Total trading volume in November 2025 was 14,208,169,648 shares, a decrease from 18,846,129,482 in October 2025 but an increase from 12,025,217,832 in November 2024 [2] - The total value of trades in November 2025 was $348,072,436,278, down from $388,951,149,042 in October 2025 and up from $280,339,336,898 in November 2024 [2] - The number of transactions in November 2025 was 28,095,632, compared to 32,543,664 in October 2025 and 22,281,813 in November 2024 [2] Daily Averages - Daily average trading volume in November 2025 was 710.4 million shares, down from 856.6 million in October 2025 and up from 572.6 million in November 2024 [3] - Daily average value of trades was $17,403.6 million in November 2025, slightly down from $17,679.6 million in October 2025 and up from $13,349.5 million in November 2024 [3] - Daily average transactions were 1,404,782 in November 2025, down from 1,479,257 in October 2025 and up from 1,061,039 in November 2024 [3] Year-to-Date Statistics - Year-to-date trading volume for 2025 reached 151,375,747,288 shares, a 25.5% increase from 120,597,202,054 shares in 2024 [4] - Year-to-date value of trades was $3,627,871,623,338, reflecting a 29.3% increase from $2,804,748,794,477 in 2024 [4] - Total transactions year-to-date were 285,714,873, up 25.2% from 228,153,094 in 2024 [4] Toronto Stock Exchange Performance - In November 2025, the Toronto Stock Exchange recorded a trading volume of 8,908,413,019 shares, down from 10,276,749,913 in October 2025 but up from 7,986,209,101 in November 2024 [6] - The value of trades on the Toronto Stock Exchange in November 2025 was $325,825,113,125, down from $359,530,835,199 in October 2025 and up from $260,757,004,269 in November 2024 [6] - The number of transactions was 23,960,280 in November 2025, compared to 27,510,977 in October 2025 and 19,643,417 in November 2024 [6] TSX Venture Exchange Performance - The TSX Venture Exchange saw a trading volume of 4,048,567,315 shares in November 2025, down from 6,622,291,383 in October 2025 and up from 2,864,394,117 in November 2024 [10] - The value of trades was $3,431,901,111 in November 2025, down from $6,100,705,074 in October 2025 and up from $1,372,153,132 in November 2024 [10] - The number of transactions was 1,591,029 in November 2025, down from 2,567,858 in October 2025 and up from 732,906 in November 2024 [10] TSX Alpha Exchange Performance - The TSX Alpha Exchange recorded a trading volume of 1,221,120,861 shares in November 2025, down from 1,893,812,483 in October 2025 and up from 1,154,006,820 in November 2024 [14] - The value of trades was $18,065,379,256 in November 2025, down from $22,249,060,790 in October 2025 and up from $17,538,591,868 in November 2024 [14] - The number of transactions was 2,430,819 in November 2025, compared to 2,314,065 in October 2025 and 1,841,692 in November 2024 [14] Montréal Exchange Performance - The Montréal Exchange reported a derivatives volume of 20,484,351 contracts in November 2025, up from 19,430,481 in October 2025 and slightly up from 19,576,991 in November 2024 [22] - Open interest in contracts was 33,839,881 in November 2025, up from 33,112,659 in October 2025 and significantly up from 23,771,795 in November 2024 [22] Year-to-Date Statistics for Montréal Exchange - Year-to-date volume for 2025 was 214,478,368 contracts, a 19.3% increase from 179,706,965 contracts in 2024 [23] - Open interest year-to-date was 33,839,881 contracts, up 42.4% from 23,771,795 in 2024 [23]