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Party on, dudes: Stock exchange merger parties

Tuesday 11th July 2000

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THE RESULT OF a merger between London and Frankfurt's Deutsche Börse, iX looks like forming an alliance with Nasdaq.

It is already being joined by Milan and Madrid next year and possibly Euronext. Assuming it does, iX is expected to represent 18.22% of world equities market, based on the Morgan Stanley Capital Index.

GEM (Global Equity Market)
Nasdaq competitor the New York Stock Exchange (NYSE) is involved in early-stage talks with exchanges in Hong Kong, Mexico, Brazil, Tokyo, Toronto Stock Exchange and Euronext with a view to establishing an exchange to rival iX. Interconnecting with participating exchanges, GEM will seek to provide investors worldwide with around-the-clock trading. The market capitalisation of the new entity would exceed $US20 trillion, of which the NYSE's listed domestic companies represent half.

This merger of Dutch, Belgium and French exchanges has a market cap of $US2.1 trillion.

A common trading platform recently negotiated between the ASX and the Singapore Stock Exchange will launch July 2001.

It means Aussie investors will be able to buy Singapore stocks through an Australian broker and vice versa. This merger will have a 2.8% net share of the MCSI.

Nasdaq Japan
A joint venture between Japan's Softbank and Nasdaq will trade both Japanese and Nasdaq stocks. It starts this year.

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