I want to share more about how I approach exchange investing & the resources I use to track the industry. I'll split this into 4 topics below:
1) Filings
2) Volumes (2 pts)
3) News
4) Social
I hope you find it useful 
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FILINGS: As with most stocks, nothing beats the old-fashioned way: reading Ks, Qs, and earnings results in detail. I use Seeking Alpha to read earnings call transcripts (Q&A is most important). Look at results relative to guidance and changes to the forward outlook.
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VOLUMES: The primary drivers of exchange performance are volumes & data growth. The volume piece can be tracked monthly (even daily) via each exchange's website. CME: http://investor.cmegroup.com/volume ICE: https://ir.theice.com/investor-resources/supplemental-information/default.aspx … CBOE: http://www.cboe.com/data/cboe-holdings-monthly-volume-rpc-reports …
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Nasdaq: http://ir.nasdaq.com/financials/volume-statistics … Tradeweb: https://www.tradeweb.com/newsroom/monthly-activity-reports/ … MarketAxess:https://investor.marketaxess.com/volume
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NEWS: It's critical to filter out as much noise as possible when consuming news, and exchanges are no different. I use Finviz's Portfolio tool - create a free account and add stocks to your watchlist. All news from those stocks will show up in a clean, easy to read feed:pic.twitter.com/tcTgZghOY9
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SOCIAL: I follow these accounts to elevate my thinking about exchanges:
@JerryCap@FinSkirt@bizalmanac@BrianGierke@ltabb@kmcpartland@GuFinProf@Foudroyant@staffordphilip@JoeSaluzzi@aosipovich@JustinRBLT@phoenixvalue@RussellRhoads@NoonSixCap9 replies 0 retweets 16 likesShow this thread -
Replying to @HideNotSlide @JerryCap and
Also I am still amazed by the overall lack of understanding about exchange biz models. The vast majority have morphed far beyond trading. Yet the vast majority of PMs are more comfortable buying a bank than an exchange!! Just because it is easier to understand. I call that SCARY!
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Well said!
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