Analaysts reckon Nasdaq will benefit from its failed £2.7 billion hostile takeover bid for the London Stock Exchange (LSE).
The New York-based stock exchange is now understood to be pursuing international agreements with a number of other trading platforms outside the US.
European exchange operator and transaction services provider, Deutsche Börse, yesterday signed a definitive agreement with the Bombay Stock Exchange (BSE) to invest in a 5 percent stake for Rs 189 crore at a price of Rs 5,200 per share (USD 42.7 million), and also to explore ways of strengthening their collective competencies across a broad spectrum of business areas. The transaction puts the value of BSE of Rs 3,777 crore (USD 854 million).
The announcement made yesterday by the International Securities Exchange (ISE) means traders can now access approximately 6000 National Market System (NMS) securities through both ISE's non- displayed liquidity pool, MidPoint Match, and its displayed market. Among the symbols traded are all securities that comprise the S&P 1500 and Russell 3000.
The Chicago Stock Exchange (CHX) says it has completed the migration of trading in all securities to a new system that supports fully automated trading of all National Market System (NMS) securities with immediate display, execution and cancellation of orders required by Regulation NMS.
Market access provider OMX yesterday announced the release of Genium, its new technologies for trading, post-trade and information services. Genium will be a driving force in OMX's exchange technology offerings and the development of the OMX Nordic Exchange.
Trading on the London-based PLUS market got off to a strong start in the first month of the year, with 69,175 bargains, worth a total of £372 million, representing 460 million shares changing hands on PLUS.
Despite the massive upheavals occurring in the stock exchange business, from mergers and alliances to competition from electronic start-ups, expenditure by exchanges on technology is not growing as fast as might be expected in a business that needs to reinvent itself, find new revenue streams, and expand into new geographies.
NASDAQ has criticized the third defence document from issued by the London Stock Exchange (LSE) against its hostile bid as further evidence of its lack of a long-term strategic vision for the business and focus on short term measures.
A new all-time high in share trading value was recorded at OMX Nordic Exchange in January. On 25 January share trading value was EUR 8.4 billion, eclipsing the previous record of EUR 8.0 billion set on 21 April 2006.
In January equity turnover on the Spanish market through SIBE amounted to € 137.34 billion, which represents a year on year increase of 39.6%. During the month the number of transactions came in at 2.68 million, up 50.3% on last year. Both figures were the highest in the history of the stock market.