Market Structure Mashup

Letter From The Editor

In many cases, exchanges are growing into their for-profit suits. They have gone global, across asset classes and become large transaction processing plants that seek to become large technology providers. They aim to retain their traditional functions of capital formation and listing, expanding to more and different markets. They're dealing with changing regulation and figuring out different models.

Major players are in the midst of integrating big, international mergers and acquisitions. The

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