JEast Posted October 20, 2009 Share Posted October 20, 2009 Just checking to see if anyone had any comments about NYSE Euronext. Much like CME, they appear to have an oligopoly to some degree. Though not super cheap, they do have the captured market and depending on how you value their goodwill, maybe currently at 1x book. Cheers JEast Link to comment Share on other sites More sharing options...
xxx1313 Posted October 21, 2009 Share Posted October 21, 2009 Nasdaq OMX looks even cheaper. Lower P/E and below book value but much goodwill. Link to comment Share on other sites More sharing options...
ubuy2wron Posted October 21, 2009 Share Posted October 21, 2009 It is probably a low risk bet here but a lot of the monopoly pricing power has disappeared because of the emergence of so many alternative trading venues. I'm thinking John Thane wishes he stayed at the NYSE tho. Link to comment Share on other sites More sharing options...
JEast Posted October 22, 2009 Author Share Posted October 22, 2009 True about the new alternatives and reason Morningstar only gives them a narrow moat status. However, if I look out 2-4 years, will there be more consolidation? The other item I am looking for is who is going to be the clearing house for the eventual return of engineered financial products like CDS and others not named as of yet. That is or will be a big prize for someone. This new clearing house also may be mandated by the G-8 or G-20 based on future global regulation. Cheers JEast Link to comment Share on other sites More sharing options...
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