The consolidation of European stock exchanges

McAndrews, James J.; Stefanadis, Chris

Journal Article

The consolidation of European stock exchanges

Abstract: With the growing appeal of cross-border trading in Europe, efforts are under way to establish consolidated exchanges that offer trading in stocks from many European countries. An analysis of these evolving pan-European exchanges suggests that consolidation could reduce the costs and complications of cross-border trading through such enhancements as a standardization of trading platforms. Yet regulatory, legal, and economic barriers to the creation of these exchanges may delay any benefits of consolidation.

Keywords: Stock exchanges; International finance; Consolidation and merger of corporations;