This week's issue of Front Month is live - I give a full review of all the exchange earnings we've seen this week, picking out the stories worth watching:https://frontmonth.substack.com/p/making-sense-of-the-exchange-earnings?r=79stm&utm_campaign=post&utm_medium=web&utm_source=twitter …
Good point - DB1 would fit into that category. M&A pressure should ramp up for them in 2021 if volumes don't improve.
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Thanks. And I would argue CME. Compare and contrast with ICE, Nasdaq, LSEG and ENX.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Problem for DB1 is affordability. Targets that would transform it are expensive; can't go into debt because of Clearstream and needs top credit rating. Partly why NYSE Euronext/LSE deals were all-share mergers.
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Agree that affordability is an issue but they were still able to launch (numerous) failed bids for LSEG and the merger with NYSE. The one deal they did close, ISE, was an unmitigated disaster. Difficult times in Eschborn.
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