Banks plan new Pan-Europe stock exchange - by Matt Moore
Seven investment banks in Europe announced plans Wednesday to create a pan-European trading platform for equities, a move widely seen as a possible threat to the London Stock Exchange and other European stock markets. The news, which came the same day that Deutsche Boerse AG dropped its bid for Euronext NV, helped send shares in the LSE and other stock markets lower.
The banks -- Citigroup Inc., Credit Suisse Group, Deutsche Bank AG, Goldman Sachs Group Inc., Merrill Lynch & Co., Morgan Stanley and UBS AG -- said the new trading platform, which is still being devised, would have its own management team independent of the financial institutions and would permit others to use the facility.
No comments:
Post a Comment