Tuesday, August 30, 2005

Wall Street and Stock Exchanges

[Category: Business]

It seems Wall St. is putting serious efforts into making sure that the duopoly of NASDAQ and NYSE (esp. post its merger with Archipelago Holdings Inc.) doesn't eat into their bottomline. Off late there have been many articles on this and here is just one of them.

Fidelity, Citigroup, CSFB and LB have announced a new "Boston Equities Exchange". Whereas, Citigroup, CSFB, MS and UBS had earlier bought stake in "Philadelphia Stock Exchange", of which ML was a stake holder already. This leaves GS (which is a prima force in the NYSE and Archipelago merger) and Bear Sterns in the BB category without any stake in an exchange.

In other news, in Bangalore, I was stopped by the traffic police thrice last week asking for my Driving Licence. I suspect at one occassion they were also checking if the drivers were drunk. Good work, am happy there's some work in this direction because more than 50% of accidents are a result of drunken driving! Wish they adopt some scientific measures like Breath Analyzers to do this and do it more often!

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