This year has been particularly rough for financial stocks, as evidenced by the underwhelming performance of the Financial Select Sector SPDR Fund (NYSEMKT: XLF), which is down nearly 25% year to date.
The United States hit a brick wall when COVID-19 forced governments to enact shelter-in-place orders that shut down vast swaths of the economy. Banks were hit particularly hard on fears of credit losses. The real estate investment trust (REIT) sector was sold as well, as many of their office and retail tenants were unable to make rent.
Stock exchanges have fared better, and one company integral to the exchanges has seen its stock do extremely well, rising almost 58% year to date. It is not an exchange, but a wholesaler.