Thain sees further exchange consolidation (from CNBC)
Reuters reports:
NEW YORK, Jan 27 (Reuters) – New York Stock Exchange Chief Executive John Thain on Friday told CNBC he expects consolidation among exchanges in the next year or two, and he thinks there could be synergies between the United States and Europe.
The NYSE is in the final stages of closing its deal to buy electronic trading company Archipelago Holdings Inc. (AX.P: Quote, Profile, Research), which will turn it into a publicly traded, for-profit company.
Thain, speaking from Davos, Switzerland, said he expected that deal to close a couple of weeks after the regulatory comment period ends on Thursday.
The deal means “we have public shareholders, and we will be responsive to them, and we will operate more efficiently,” Thain said. “But more importantly, we will have a much broader list of products, and as the world of exchanges consolidates, we will be one of the players.”
Over the next year or two, he thinks there will be consolidation in the United States and “across the ocean.”
There could be synergies between the United States and Europe, he said, as a lot of companies trade in both places and there were opportunities on the technology side to share best practices.
I wonder if he’s been watching AmazonBay?
