German Börse in Talks to Buy the Big Board
By MICHAEL J. DE LA MERCED and JACK EWING
NYT
The New York Stock Exchange, a symbol of American capitalism for more than two centuries, may soon have new owners — in Europe.
The exchange, facing pressure from electronic upstarts that have taken business away from it, said on Wednesday that it was in advanced talks on a merger with the operator of the Frankfurt Stock Exchange. A deal would create the world’s largest financial market, with a presence in 14 European countries as well as the United States.
A merger would potentially let customers trade stocks in New York, options tied to those shares in Paris and derivatives linked to them in Frankfurt.
A combination, after the mergers of other exchanges, would be another illustration of how globalization and technology have changed marketplaces. The New York Stock Exchange is a giant among exchanges, yet in a world of around-the-clock trading and rapid-fire algorithmic programs, its significance to investors has diminished. Once known for chief executives who were prominent cheerleaders for the stock market, the exchange now has a more muted public presence.
(More here.)
NYT
The New York Stock Exchange, a symbol of American capitalism for more than two centuries, may soon have new owners — in Europe.
The exchange, facing pressure from electronic upstarts that have taken business away from it, said on Wednesday that it was in advanced talks on a merger with the operator of the Frankfurt Stock Exchange. A deal would create the world’s largest financial market, with a presence in 14 European countries as well as the United States.
A merger would potentially let customers trade stocks in New York, options tied to those shares in Paris and derivatives linked to them in Frankfurt.
A combination, after the mergers of other exchanges, would be another illustration of how globalization and technology have changed marketplaces. The New York Stock Exchange is a giant among exchanges, yet in a world of around-the-clock trading and rapid-fire algorithmic programs, its significance to investors has diminished. Once known for chief executives who were prominent cheerleaders for the stock market, the exchange now has a more muted public presence.
(More here.)
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