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Big Exchanges Fear a Flood of Newcomers

Traders Magazine Online News, April 23, 2008

Nina Mehta

NYSE Euronext and Nasdaq OMX see trouble ahead if the Securities and Exchange Commission approves the BATS Exchange application. Swift approval could encourage others to follow in BATS's footsteps, potentially creating an unnecessary surplus of stock exchanges in the U.S., exchange officials fret. A relatively quick approval process for BATS "drops the barrier [for] competition," said Larry Leibowitz, head of U.S. execution and global technology at NYSE Euronext, in a panel discussion at the Security Traders…

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