NYSE eyes more links to foreign exchanges
The New York Stock Exchange (NYSE) is focussed on increasing its Asian presence and discussing a range of topics with the Tokyo Stock Exchange (TSE), Chief Executive Officer John Thain of the NYSE Group said on Tuesday.
Addressing the New York Foreign Press Centre, Thain declined to be specific but said in his opening comments that the NYSE already has a good relationship with the Japanese exchange.
Asked why the NYSE might consider linking to the TSE over a Chinese exchange like the Shanghai Stock Exchange, Thain responded that the TSE remained the leading Asian and second largest exchange in the world. An exchange encompassing the United States, Europe and Japan would represent the world's three major liquidity pools, Thain added.
Asked about expanding in Europe, Thain said the NYSE would also certainly be receptive to adding cash markets like the Borsa Italiana into the Euronext structure. Thain had previously suggested the Italian exchange join in a pending merger between the NYSE and Paris based exchange Euronext.
Regarding U.S. mergers, Thain said he desired to broaden the NYSE's product list, noting that over time there will be opportunities in the U.S. futures market.
Thain's remarks came after he reiterated the NYSE is committed to closing its merger with Euronext in the first quarter of next year.
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