Nasdaq Wants To Merge With The NY Stock Exchange
from the how-quickly-things-change dept
It really wasn't that long ago that the Nasdaq was king, and was even going around advertising how many cool companies were listing on their market rather than over at the more old fashioned New York Stock Exchange. Of course, just like everything that was booming in the boom years, things are changing, and reports are surfacing that the folks over at the Nasdaq have approached the New York Stock Exchange about a merger. Of course, things aren't all roses over at the NYSE, as they're still dealing with fallout from their executive compensation package to former chair Dick Grasso. Still, as the article points out, Wall Street firms would love such a merger since it would let them consolidate operations.
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man screws man
The long and short of it is that the NASDAC is in trouble (encroachment by other, lesser exchanges) and so is the NYSE (with respect of a large lack of confidence). My general impression is that confidence can eventually be won back through good PR and a few quarters of positive growth, but fundamentally flawed business plans are fatal (and guess which exchange has more of those).
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