NASDAQ (NDAQ) Finally Unloads LSE on Bourse Dubai

Frantic dealmaking in the world of financial exchanges: After its failed attempt to climb out of the global exchange market-cap cellar by buying London’s LSE, Nasdaq has finally unloaded its LSE stake on Bourse Dubai in exchange for BD’s future stake in Nordic exchange OMX and a BD investment in Nasdaq.  Got that?  Bourse Dubai will now own 19.9% of Nasdaq. 

Here’s the translation:

“We’re tired of our stock price moving sideways and of being a puny also-ran on the world financial exchange stage, so we’re wheeling and dealing our way to globalness.  Bourse Dubai, another also ran, is overflowing with oil money and also has big ambitions, so we’re taking some of that cash dumping our LSE stake (whew!), and teaming up.”

Meanwhile, the financial exchange industry continues to crank, having now amassed about $130 billion in market cap. Reuters ranks the world’s financial croupiers, in billions:

Chicago Mercantile Exchange (CME.N)      $30.3

Hong Kong Exchanges (0388.HK)             $26.5    

Deutsche Borse (DB1Gn.DE)                     $23.4

NYSE Euronext (NYX.N )                         $18.7

Singapore Exchange (SGXL.SI)                 $7.9

Dubai Financial Market (DFM.DU )             $6.9  

London Stock Exchange (LSE.N)                 $5.8

OMX (OMX.ST)                                         $4.7

Nasdaq (NDAQ.O)                                     $4.0

 

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