NYSE Group might create a rival to London Stock Exchange

NYSE Group might create a rival to London Stock Exchange

Financial Times has reported in a news article that the NYSE Group could consider setting up a rival stock exchange to compete with the London Stock Exchange (LSE.L) for new listings.

However, NYSE has also not ruled out the possibility of bidding for the LSE. The newspaper report quoted NYSE Chief Executive John Thain as saying: “There would be two options. The first of which would be to set up our own exchange in London. However, I would not rule out the other option.”

The exchange market is seeing rapid consolidation in the recent times as the involved players are looking at ways to cut costs in the market, which is getting very competitive. Efforts are on to create the first transatlantic stock exchange.

NYSE recently announced their decision to acquire Euronext for around 7.9 billion euros. The deal would be complete in the next six months time.