New Exchange Models and the NSA

31

March, 2011

For organizations that should operate in a mundane, quasi-government world, stock exchanges sure make alot of noise and get alot of attention these days.  We are constantly hearing about how they want to merge their ultra-competitive, extremely low margin businesses together.  And this week we heard two more interesting exchange stories:

 1) BATS Global Markets, has decided that it will launch a market for primary listings this year.  Now, before we comment on their proposal, we would just like to say hello to Joe and Randy, two of our keenest Themis Thoughts readers.  Most of you are probably thinking, “isn’t that

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