So do you think NASDAQ is going to have to do something to be competitive?
When you speculate on what they're going to do they're not happy because, I mean, they are very independent and we don't know what they are going to do, and they'll say, "Listen, how do you know?" And so I don't know what they'll do, but I do know that this ICE/NYX tie up is very good and I do think that NDAQ should do something because you want to get bigger. You want bigger scale at all times.
Well that's what Duncan Niederauer said was, "Scale. It's all about the scale."
Yeah. And scale is really a lot of the theme of all these acquisitions that we've been seeing. People want bigger scale and the way to do it is to say, "Okay, money's cheap and I'll buy." Or, "Stocks are cheap." And the company that's being acquired says, "Wow, that's a cheap currency. It'll go up." So a lot of good here.
A lot of good here, that's what Jim's saying.
--Written by Debra Borchardt in New York.
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