May 15, 2006 Issue Abstract
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Exchange Competition: Electronification Drives Global Consolidation With London the Prized Catch Among Exchanges. In the race toward global market consolidation, the jockeying for lead position has begun. Nasdaq recently acquired a stake in the London Stock Exchange, but may still face an uphill climb to gain a controlling interest.
Industry Alert: NYSE Group Puts Product Debuts on the Fast Track. As the New York Stock Exchange progresses in the integration of its acquisition of Archipelago, it plans to roll out a secondary market with easier listing standards, to be called an NYSE Arca listing. The new listing brand is among several new products NYSE is planning as a public company.
Spotlight: Peter C. Lewis and Timothy Reilly, Managing Directors and Co-Heads of Alternative Execution, Global Capital Markets, Citigroup.
Industry Trends: Handle on Risk, Selective Partnerships Define 2015. The greatest challenge ahead for financial firms will be to develop clear perspectives on risk, according to a survey of more than 400 business leaders at 296 financial institutions, conducted by the IBM Institute for Business Value and the Economist Intelligence Unit.
Swaps & Derivatives: CDS Processing Standards Are on the Drawing Board. ISITC-IOA and SWIFT have begun working together on ways to improve information flows in post-trade processing in the over-the-counter derivatives asset class.