|
|
Article: Comment: Europe's Old Exchanges Gear Up To Battle The New Pretenders - Rivals To Europe's Stock Exchanges Have Grabbed Headlines But Pundits Question Whether They Will Make The Markets More Efficient.
- Article from:
- The Banker
- Article date:
- December 1, 2006
CopyrightCOPYRIGHT 2006 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The furore spawned by last month's news that Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, Merrill Lynch, Morgan Stanley and UBS are to go head-to-head with European stock exchanges in trading the continent's most liquid stocks proves nothing if not the schizophrenic forces at play in financial markets.
While market participants push stock exchanges to consolidate, other (and sometimes the same) participants have launched or invested in new electronic exchanges and alternative trading systems in direct competition.
This is the last in a line of recent initiatives. Last year, investment banks backed Boston Stock Exchange's launch of an ...