London, April 28: The London and Frankfurt stock exchanges are mulling a global alliance with the US technology market Nasdaq if their own merger goes ahead, the Financial Times reported Friday. The aim would be a 24-hour market spanning the key US, Asian and European timezones, giving investors access to stocks and initial public offerings via one trading platform.It would also mean the abandonment of Nasdaq's plan to expand separately into Europe, the FT added. Merger talks between the London Stock Exchange and Deutsche Boerse are said to be in their decisive stage and close to nearing agreement.According to the FT, an announcement - which could be as early as next week -would include plans for an alliance with the US exchange, with the possibility of an exchange of shareholdings.
If the alliance goes ahead, the merged Anglo-German market would be its European leg, the forthcoming Nasdaq Japan market the Asian leg, and Nasdaq's US market the third.
However, bankers cautioned that such a global tie-up was still a long way off, partly because of Nasdaq's current mutual status.
"This has to go through many stages to be realised and nothing can happen until Nasdaq demutualises," a source close to the talks told the FT.
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