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jj's avatar

Great article, Ian.

A couple small additional thoughts:

1) If you believe (like I do) the next decade will be a fairly inflationary one, owning stock exchanges traditionally are a good way to protect oneself. (By way of example, Horizon Kinetics' Inflation Beneficiaries ETF -- $INFL -- holds a number of stock exchanges in its portfolio: $ICE, the TMX Group, and the Deutsche Boerse).

2) Is there an argument to be made that the existence of BIVA is beneficial to BMV? Both exchanges list the same stocks. So theoretically, shouldn't arbitrageurs be driving up volume on both exchanges, as they arbitrage between the two?

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Sameer's avatar

Great writeup! Do the dividends flow properly to the unsponsored OTC listing?

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