FBN Senior Correspondent Charlie Gasparino reports that NASDAQ is “scrambling to respond” to the deal between the New York Stock Exchange (NYSE) and Deutsche Boerse. Gasparino said there are “serious discussions” internally at NASDAQ “about teaming up with ICE, the Intercontinental Exchange” in an effort to “make a competitive response” and avoid being “swept away” in the NYSE-Deutsche Boerse merger.
Excerpt from the report ; courtesy of Fox Business Network:
On how the NASDAQ is responding to the deal between the NYSE and Deutchse Boerse:
“NASDAQ is scrambling to respond. The FOX Business Network has learned they have hired an investment bank. Internally they are talking about a number of options. They have had discussions with the CME about a joint bid. There is some serious discussion about teaming up with ICE, the Intercontinental Exchange. The market cap of ICE is much larger than NASDAQ. So it would not be a merger of equals but they are fighting for survival. This deal has not gone to the Board of Directors at the ICE as of yesterday. Clearly the NASDAQ CEO knows he needs to make a competitive response. They are in an incredibly bad competitive situation and they have to respond. Everybody has to respond but no one is in worse shape than the NASDAQ. There is a chance they could get swept away in this.”
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