Publication

Europe’s bourses feature almost daily in lead articles in the media these days, which is probably excessive given their relatively small size in terms of revenue. If it is not about alliances or takeovers, the coverage concerns their responses to the challenges raised by the recently adopted Markets in Financial Instruments Directive (MiFID) or other forms of ongoing market liberalisation. It should come as no surprise that, in a business where scale matters, responses go beyond European boundaries, and after Euronext, the London Stock Exchange (LSE) may also become a transatlantic exchange.