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NYSE May Soon Have European Owners
Key Excerpts from Article on Website of CBS News
CBS News, February 10, 2011
Posted: February 13th, 2011
http://www.cbsnews.com/8301-503983_162-20031283-503983.html
Posted: February 13th, 2011
http://www.cbsnews.com/8301-503983_162-20031283-503983.html
The New York Times reports that the New York Stock Exchange is in "talks on a merger with the operator of the Frankfurt Stock Exchange." The exchange faces pressure from electronic upstarts that are taking business from it, reports the Times. The paper says a deal would create the world's largest financial market. The Times reports that the merger ... is an example of technology and globalization changing the world marketplace.
Note: A Los Angeles Times blog on this news states, "the potential deal is the next step in the evolution of stock exchanges from nonprofit entities owned by their members to fast-moving companies with publicly traded stocks." Yet none of these reports discusses the huge significance of this potential deal.