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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.
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