Euronext merger 'could produce LSE rival'
A brand new London market could be opened as a result of a merger between the New York Stock Exchange (NYSE) and Euronext, according to the chief executive of the NYSE.
It was confirmed in May that the NYSE would buy Euronext in a deal reported to be worth $20 billion.
Speaking to the Financial Times, John Thain said that the new exchange could be set up as a rival to the London Stock Exchange (LSE).
Instead of buying the LSE, as the NYSE had planned to do, Mr Thain suggested that the New York exchange would now look to "set up our own exchange in London".
The NYSE has been ousted by the Nasdaq which looks set to buy the LSE.
The Enron scandal and the rules and regulations imposed upon the NYSE thereafter have detracted overseas listing and it is hoped that a merged exchange would serve to reverse this negative trend.