Debra Borchardt:

So do you think NASDAQ is going to have to do something to be competitive?

Jim Cramer: 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.

Debra Borchardt: Well that's what Duncan Niederauer said was, "Scale. It's all about the scale."

Jim Cramer: 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.

Debra Borchardt: A lot of good here, that's what Jim's saying.

--Written by Debra Borchardt in New York.

>To contact the writer of this article, click here: Debra Borchardt.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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