Exchanges create enormous value by building and managing network effects - linear growth in users adds exponential value to the market as a whole:pic.twitter.com/KYPbU2UXyc
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I got @jackbutcher's Visualize Value course for Christmas - really great product that contextualizes visual communication & gives a crash course in design.
Below are some initial cracks I took at Visualizing Value for exchange themes:
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Futures markets provide tangible value to the economy. Companies in the market for commodities, rates & currencies use futures to manage the risk of volatile prices wiping out their P&L:pic.twitter.com/fvaNgm1Mac
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The hedgers gain value by *offloading* risk into the market. Speculators gain value by *receiving* this risk profitably. Markets need both to function.pic.twitter.com/xlSf3gYE62
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Exchanges were born in the world of transaction revenue - high margin, but uncontrollable outlooks. Expanding into market data gives them stable, consistent and growing revenue streams. The market rewards consistent growth.pic.twitter.com/Vass8OGdcb
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By expanding into data, exchanges are becoming powerful operators of the core indices that govern markets. A change to the index cascades down to managers, passive investors and bystanders of global markets:pic.twitter.com/XUhV2wGa1h
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I had fun making these, and will keep iterating to visualize more complex exchange topics. Look for more VV
from me in the future 
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Thank you for sharing mate! Glad you enjoyed the product
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