This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NYSE Looks East

John Thain, the CEO of the New York Stock Exchange (NYX), is eyeing Asia.

The NYSE has yet to complete its planned $10 billion merger with Paris-based Euronext, but Thain is already considering deals with Asian stock markets. Thain confirmed Tuesday that the Big Board has had "preliminary'' talks with the Tokyo Stock Exchange about some sort of joint venture.

"I believe there will be linkages into Asia," says Thain, who spoke at a conference sponsored by the Society of American Business Editors and Writers in New York.

But Thain was vague when it came to specifics. While he acknowledged that officials at the NYSE and the Tokyo have been talking to each other, he didn't comment on news reports that each exchange may take a 10% equity stake in the other.

Indeed, Thain avoided the word merger in talking about the Asian exchange. The Big Board chief executive officer says an outright acquisition is unlikely.

Meanwhile, the Tokyo exchange said Friday that it has "held discussions with the NYSE focusing on business alliance, and has investigated a variety of different possibilities." The Japan-based exchange says it "will look into such alliances with other exchanges abroad.''

Thain says one complicating factor in any talks with the Tokyo exchange is the fact it is not a public company. He says the Tokyo exchange would have to go through a demutualization process before the NYSE took any action.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
NYX $0.00 0.00%
AAPL $95.24 1.30%
FB $99.80 -4.10%
GOOG $683.10 -0.07%
TSLA $148.02 -9.00%


Chart of I:DJI
DOW 16,027.05 -177.92 -1.10%
S&P 500 1,853.44 -26.61 -1.42%
NASDAQ 4,283.7530 -79.3910 -1.82%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs