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As proper competition is actually sitting on the floor of -- New York Stock Exchange.
We've got breaking news on that for the New York Stock Exchange right -- New York Stock Exchange is in talks with the London clearing house about a potential strategic alliance what does this mean.
Working out some deal to clear derivatives I should point out the London clearing house is now it talks with the LSE.
But the New York Stock Exchange thinks those talks are about to break up.
That's why the -- -- about a strategic alliance.
That's what I would advance Duncan Niederauer and that's what the competition did not ask me this is a pretty big deal.
New York Stock Exchange doesn't get the Deutsche Boerse deal.
It's got to do something else what does it do well -- will be clearing house clears derivatives all derivatives will be cleared on an exchange.
It's looking at a strategic alliance with the what with the one and class we should point out that it does not -- -- outright -- the one class why is that.
Well if you know -- the London clearing houses owned it's owned by brokers it's like -- forty different tax.
New York Stock Exchange has a piece of that pie two.
But instead of buying the thing out right they can get the same thing done to -- some strategic alliance.
Where they become essentially the clearing broker for the New York Stock Exchange I think this is a big story if you follow all of these markets and these stocks.
All these stocks of publicly traded the New York Stock Exchange would do itself real a big favor.
By getting into this business like that and they already do some clearing -- anyway so this is really interesting look for strategic alliance we should point out that the -- clearing house right now.
Is in talks with the LSE -- London Stock Exchange about a merger those talks -- increasingly difficult the bedding inside the New York Stock Exchange.
Is that that's not gonna happen from what I understand they have about two and a half weeks is -- and -- weak opening to make this deal work if it doesn't happen.
They're gonna do but they're gonna do it through strategic alliance least that's what they wanna -- that's very high we should point out.
And I -- this wasn't talked about by -- on the network.
This is one of the top priorities of -- -- to our work it out to strategic alliance politically Alley again until you broken Charlie and a that you didn't think that they have a chance asthma.
They're showing and I sent.
I'd I'd pretty sad about -- -- -- Paterson obviously wait a second day following day.
-- to basically I don't this is real reporting to Steve the phone and a debt not even a desk he set up their -- that we don't buy at burger restaurant Charlie.
They needed to do something the New York Stock Exchange.
Could not get that to -- -- -- approval for that merger so you know you saw Duncan Niederauer size -- gonna sit around and not do anything right.
It's may be what I like about -- is -- is pro active yes this is it that we should say it is they're not gonna bite they don't.
Is up partnership it's some sort of a -- strategic alliance partnership where they go and remember what on the clearing house does it clears derivatives why is that point.
On -- -- that's our troops are but so reductions the last one of the Dodd-Frank.
-- the host the view of world global regulations.
You have to put derivatives on markets they need to be cleared.
It was and I degree company Asia we're looking at the stock right now ticker symbol NYX.
It is a slightly higher at the moment on this news eternally desperate.
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