Financial exchanges cash in on trading volume
The guest expressed a highly bullish view on financial exchange operators like CBOE and CME because they serve as the indispensable infrastructure powering the retail and institutional trading boom.
The argument
The guest argued that the ongoing trend of market speculation and 'degeneracy' cannot function without these exchanges, making them highly attractive toll-booth businesses.
The thesis, stress-tested
✓ What validates it
- ✓Record trading volumes reported in quarterly exchange metrics
- ✓Expansion of retail-friendly derivative products
▸ Risks discussed
- ▸Decline in overall market volatility or retail trading volumes
- ▸Regulatory changes affecting options or derivatives trading
Hear it yourself
"And so I would go to the football games as a kid, and I was like, hey, it's you. That was my dream. John, right. Just go to Arizona State University, which I ended up you know, doing for grad school, which isn't a great grad school, but it was party school. But that was my dream, get out of Canada. Right. So I got lucky. I, you know, my parents exposed me to, you know, Arizona, and I went to ASU at the time. It was amazing. And then if you're Jewish in Phoenix Uh-huh. Because of the summers Right. It's it's like New York goes to Florida in the winter, Jewish people in Phoenix go to this go to San Diego in the summer to get out of the Right."
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