Summer Reflections

WATERS SOAPBOX

Exchanges were red hot once again. After the New York Stock Exchange's bid for Euronext and the Nasdaq Stock Market's almost daily purchase of another chunk of the London Stock Exchange, you'd think people saw a future in these centuries-old venues. They're right.

Although most exchanges across the globe are already wholly electronic, the NYSE is seeking out forward-looking technology as it irons out its plans for Regulation NMS. By buying Euronext, NYSE is stepping into the future by latching

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