250 years ago, 4 July 1776, the US declared its independence. Today we celebrate a nation whose story of ambition, enterprise & innovation helped shape modern markets & global economy.
Happy 250th Independence Day to my American friends, colleagues, readers. God Bless America 🇺🇸
When Coffee Bites Back
Your morning brew now costs over double what it did in 2019. Still worth it?
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#BIGWORLD#CoffeeAddict#MoneyTalks#Inflation
.@DeutscheBoerse quietly takes the lead, @Nasdaq consolidates, and @Euronext keeps building momentum — a reminder that in exchange land, patience and positioning often matter as much as the headlines.
Young's Pyramid of exchanges keeps moving.
The middle of the Pyramid delivered a surprise.
@DeutscheBoerse climbed to $50.8bn, overtaking @Nasdaq to lead Tier Two, while @euronext gained a further $2bn, strengthening its strategic position. A challenging quarter elsewhere.
@CMEGroup's lead narrowed as all Tier 1 tumbled overall. @ICE_Markets & @HKEXGroup closed the gap, @LSEGplc continued searching for momentum. IBKR may not be an official exchange but it is head & shoulders higher than the bourses as the world's most valuable piece of markets…
The battle at the top of Young’s Pyramid tightened in Q2. @CMEGroup fell from $107bn to ~$79bn, @ICE_Markets closed within ~$10bn, @HKEXGroup held firm, while @IBKR surged to $152bn to become the standout performer.
This humble-looking machine helped rewrite the future of markets. The Telequote III Terminal (1971) helped bring electronic quotes to investors and became one of the building blocks behind @Nasdaq’s launch.
What’s the most underrated piece of fintech that changed the world?
On @FINTECHTVglobal Market Movers, we discussed America approaching its 250th anniversary, the latest U.S.–Iran developments, the Strait of Hormuz, energy, trade, markets, capitalism, innovation & a decade of Brexit lessons. Watch here: https://t.co/zjFCndfYQI
& Happy 250th USA!
£29,654 ($40,000) is the hidden price tag behind a UK job. The cost of employing a 21-year-old full-time has climbed sharply. Up over 70% in 5 years, the real cost of hiring shapes recruitment, investment & competitiveness.
What if someone told you in 1999 that the future of finance would be online?
On 30 June 1999, I launched Capital Market Revolution! in London at the British Library - built around one idea: technology was about to reshape markets, exchanges, and finance itself.
#7 or #51? The UK-US comparison that raises eyebrows… A recent poll suggested many Britons see UK prosperity as roughly equivalent to being the 7th US state. The reality is very different: on GDP per capita, the UK sits closer to the bottom of US state rankings.
Even the rain couldn’t dampen AFM delegates as we visited the Jiufen Gold Mine Museum. Highlights included restored workers’ cottages, rare metals, & a 220kg gold bar lent by Taiwan’s Central Bank in 2004.
Straight into it this Monday.
I’ll be on Market Movers at 9:20 AM EST via @FINTECHTVglobal, running through the key developments setting the tone for markets this week.
📺 Catch it live on https://t.co/huCavIP5BN, or watch the replay later if timing gets in the way.
100 years ago, two automotive rivals merged.
On 28 June 1926, Daimler-Motoren-Gesellschaft & Benz & Cie. merged to form Daimler-Benz (which would become @MercedesBenz) - bringing together the legacies of Gottlieb Daimler and Karl Benz, pioneers who helped create the automobile.
New York today has ~8.5 million people, with around 376,000 Irish-Americans. But in 1890, when the city had just 1.5 million residents, Irish-Americans numbered ~410,000 - about 27% of New Yorkers vs ~4.4% today.
A reminder of how migration reshapes global cities over time.
Coutts Triples Entry to £3M
The Queen’s old bank just raised its minimum from £1M to £3M — its biggest jump in 333 years. 💰👑
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#BIGWORLD#Coutts#PrivateBanking#Wealth#UKFinance#MoneyTok#FinTok
The great exchange buildings remind us: markets have always been human places. The screens may have replaced the shouting floors, but the architecture still tells the story - finance was never just transactions, it was communities, conversations, & connections.
The Palais Brongniart, once home to the Paris Bourse, now hosts dinners & events beneath the same neoclassical arches that once echoed with market activity. Exchanges may be electronic, but their historic spaces still carry the gravity of finance, culture & human connection.
Last Monday, we discussed the latest US–Iran agreement on the Strait of Hormuz, nuclear limits, sanctions & inspections. We also covered Israel, Iran’s internal instability, oil, pistachio prices & Keir Starmer’s exit. Watch the replay on @FINTECHTVglobal: https://t.co/T8ubXLb9KZ
A lot has changed since the Brexit vote but ultimately the biggest lesson to note is that precisely none of the wildly hysterical establishment scaremongering came to pass.
On this day ten years ago (23 June 2016), British voters proclaimed their desire to leave the European Union - a 52% to 48% decision that initiated the "Brexit" process.