Nasdaq has been working on a plan to create a pan-European stock exchange, tentatively called Nasdaq Europe, to rival Tradepoint and the alliance of the eight European stock exchanges who are working to link their trading systems to create a pan-European stock-trading platform.
Nasdaq Europe could trade any stocks listed on a recognised European exchange without formal listing requirements or permission from the companies concerned. Unlike Easdaq, the hi-tech stock market launched in Brussels with Nasdaq backing, Nasdaq Europe would not be limited to technology stocks.
The initiative would increase pressure on existing exchanges to come up with a coherent response to demands from big investment houses for a platform which would enable them to trade European stocks as if they were from the same market.
The new exchange is to be created by a Nasdaq-led consortium which also includes the French conglomerate Vivendi; e-partners, the Rupert Murdoch- backed Internet fund and Softbank of Japan.Reuse content