CEO Clara Furse has previously said: “If it is possible to do a deal with another exchange that validates our model then we will do it. Clearly, what we have in London is a tremendous success story ... 46% of all international equity business takes place in London. It is by far the most efficient equity market in the world. There is very little question in people’s minds whether consolidation should take place anywhere but in London.”
A Deutsche Borse or Euronext acquisition does not seem to accord with the idea of consolidation taking place in London. A bigger, more efficient European equity market is highly desirable, but shouldn’t the top dog in terms of market depth be doing the buying and not the other way around?
