The Business On... Bob Greifeld, Chief executive, Nasdaq OMX


So the marathon man is back

Now, that would be running before you can walk. But a number of City gossips are tipping Bob Greifeld, the marathon-running chief executive of America's Nasdaq stock exchange, as the man behind the "approach" that the pan-European share trading firm Chi-X has had from a third party.



Erm, didn't he have a company like that?

It's true that his Nasdaq OMX in April abandoned an 18-month attempt to break into pan-European share trading by announcing the closure of "Nasdaq OMX Europe". But Chi-X has something that Nasdaq OMX Europe never managed: liquidity. In other words, a lot of people use it, which happens to be crucial if you are running an exchange. And if you can't do something yourself, best to buy someone who can.



That would mean a head-to-head with the Stock Exchange

Oh yes. The London Stock Exchange has a very similar operation to Chi-X known as "Turquoise". Basically, what these operations do is allow institutions to trade big blocks of shares without other traders picking up on what's going on and moving the price against them.



Didn't Greifeld once try to takeover the LSE?

He did. Twice. And was less than happy when he got turned down. If Nasdaq got hold of Chi-X it would certainly be an issue for the LSE and its French chief executive, Xavier Rolet, although, to be fair, there is also rumoured to be interest from others, such as Deutsche Börse.



Why'd he lose?

It didn't help that he spent rather a lot of time conducting the hostile takeover battle for the LSE in New York. Or that the LSE's then boss, Clara Furse, didn't want to speak to him. But Mr Greifeld, who at the age of nine walked the streets of the Big Apple delivering newspapers while his father delivered letters, is nothing if not persistent. He has been at Nasdaq since 2003 and has lost none of his ambition.



Sounds like fun times in exchange land

Yes. On the face of it, it all appears rather arcane. But buying Chi-X would give Mr Greifeld a chance to show LSE investors what they were missed when they turned him down.

Start your day with The Independent, sign up for daily news emails
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs People

Recruitment Genius: Office Manager

Negotiable: Recruitment Genius: Have you been doing a brilliant job in an admi...

Surrey County Council: Senior Project Officer (Fixed Term to Feb 2019)

£26,498 - £31,556: Surrey County Council: We are looking for an outgoing, conf...

Recruitment Genius: Interim Head of HR

£50000 - £60000 per annum: Recruitment Genius: Are you an innovative, senior H...

Recruitment Genius: Human Resources and Payroll Administrator

£20000 - £22000 per annum: Recruitment Genius: Our client, a very well respect...

Day In a Page

War with Isis: Iraq's government fights to win back Tikrit from militants - but then what?

Baghdad fights to win back Tikrit from Isis – but then what?

Patrick Cockburn reports from Kirkuk on a conflict which sectarianism has made intractable
Living with Alzheimer's: What is it really like to be diagnosed with early-onset dementia?

What is it like to live with Alzheimer's?

Depicting early-onset Alzheimer's, the film 'Still Alice' had a profound effect on Joy Watson, who lives with the illness. She tells Kate Hilpern how she's coped with the diagnosis
The Internet of Things: Meet the British salesman who gave real-world items a virtual life

Setting in motion the Internet of Things

British salesman Kevin Ashton gave real-world items a virtual life
Election 2015: Latest polling reveals Tories and Labour on course to win the same number of seats - with the SNP holding the balance of power

Election 2015: A dead heat between Mr Bean and Dick Dastardly!

Lord Ashcroft reveals latest polling – and which character voters associate with each leader
Audiences queue up for 'true stories told live' as cult competition The Moth goes global

Cult competition The Moth goes global

The non-profit 'slam storytelling' competition was founded in 1997 by the novelist George Dawes Green and has seen Malcolm Gladwell, Salman Rushdie and Molly Ringwald all take their turn at the mic
Pakistani women come out fighting: A hard-hitting play focuses on female Muslim boxers

Pakistani women come out fighting

Hard-hitting new play 'No Guts, No Heart, No Glory' focuses on female Muslim boxers
Leonora Carrington transcended her stolid background to become an avant garde star

Surreal deal: Leonora Carrington

The artist transcended her stolid background to become an avant garde star
LGBT History Month: Pupils discuss topics from Sappho to same-sex marriage

Education: LGBT History Month

Pupils have been discussing topics from Sappho to same-sex marriage
11 best gel eyeliners

Go bold this season: 11 best gel eyeliners

Use an ink pot eyeliner to go bold on the eyes with this season's feline flicked winged liner
Cricket World Cup 2015: Tournament runs riot to make the event more hit than miss...

Cricket World Cup runs riot to make the event more hit than miss...

The tournament has reached its halfway mark and scores of 300 and amazing catches abound. One thing never changes, though – everyone loves beating England
Katarina Johnson-Thompson: Heptathlete ready to jump at first major title

Katarina Johnson-Thompson: Ready to jump at first major title

After her 2014 was ruined by injury, 21-year-old Briton is leading pentathlete going into this week’s European Indoors. Now she intends to turn form into gold
Syrian conflict is the world's first 'climate change war', say scientists, but it won't be the last one

Climate change key in Syrian conflict

And it will trigger more war in future
How I outwitted the Gestapo

How I outwitted the Gestapo

My life as a Jew in wartime Berlin
The nation's favourite animal revealed

The nation's favourite animal revealed

Women like cuddly creatures whilst men like creepy-crawlies
Is this the way to get young people to vote?

Getting young people to vote

From #VOTESELFISH to Bite the Ballot