London Stock Exchange CEO says 'hard to think' about big mergers

FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville - Copyright TOBY MELVILLE(Reuters)

By Reuters

Published on 05/06/2019 - 14:34•Updated 24/04/2024 - 11:41

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LONDON (Reuters) - Big cross-border mergers in stock exchanges look "hard" given the nationalistic focus on bourses, London Stock Exchange Group Chief Executive David Schwimmer said on Wednesday.

"There have been some big painful failures," Schwimmer told the annual FIA IDX derivatives industry conference. The LSE has failed several times to merge with rival Deutsche Boerse.

"There will continue to be this nationalistic focus on exchanges in particular. I think it's hard to think of doing big cross border exchange type transactions. It just feels challenging for the industry," Schwimmer said.

(Reporting by Huw Jones; editing by Jason Neely)

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