As we are continually told, stock markets are going through a period of consolidation, and soon just a few big players will be left in the game. But despite the many alliances and frameworks agreed between various parties around the world, the market for listing and trading shares feels as fragmented as ever.
Change is afoot, however. Today's FT reports that NASDAQ OMX is planning to launch a 'global listings center', a single body handling the paperwork for listings in any jurisdiction covered by the group.
NASDAQ's rivals will be watching closely. Right now, the London Stock Exchange has the most reasons to worry. The FT also quotes Bob Greifeld, NASDAQ's CEO, as saying his group will apply 'within weeks' for permission to run IPOs out of London.