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Big Board Mulls Competing with London Stock Exchange

John Thain has big plans for the Big Board. The chief executive of the NYSE Group told Financial Times that if acquiring Euronext doesn’t yield the exchange a hoped-for share of international listings, it will either consider buying the London Stock Exchange, or start a new exchange....

John Thain has big plans for the Big Board. The chief executive of the NYSE Group told Financial Times that if acquiring Euronext doesn’t yield the exchange a hoped-for share of international listings, it will either consider buying the London Stock Exchange, or start a new exchange to compete against the LSE. That would make things mighty interesting, as the NYSE’s nemesis, the Nasdaq, has already taken a 25.1% share of the London exchange. Thain explained that it is possible foreigners would shun Euronext for the exchange in London, which has become a center for international finance. Separately, Thain suggested he may be looking to expand into Asia.

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