It’s official: Transatlantic exchange opens today

Stephen Beard Apr 4, 2007
HTML EMBED:
COPY

It’s official: Transatlantic exchange opens today

Stephen Beard Apr 4, 2007
HTML EMBED:
COPY

TEXT OF STORY

MARK AUSTIN THOMAS: The first trans-Atlantic stock exchange is being formally launched in Paris today. It follows the merger between the New York Stock Exchange and Euronext. As Stephen Beard reports from the European desk, this could be the first the major move toward a global stock market.


STEPHEN BEARD: Nothing much will change immediately after today’s launch. The NYSE and Euronext, which runs stock markets in Paris, Amsterdam, Brussels and Lisbon, will carry on trading as before.

But the merged group has big plans.

NYSE Euronext will seek further hook-ups in the Far East. It already has a partnership with the Tokyo stockmarket and a stake in India’s leading exchange.

Andrew Hilton of the CSFI think tank says the ultimate vision is a market that straddles the globe.

ANDREW HILTON: The idea is to set up alliances, to bring people into this network, so that you do have round the world 24-hour global trading. You can buy a share in Paris in euro and sell it seamlessly in New York in dollars.

In the short term the merged group intends to take on London as the top center for International IPOs.

In London, this is Stephen Beard for Marketplace.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.