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Nasdaq Won't 'Sit on the Sidelines' After NYSE Deal: Source

Wednesday, 16 Feb 2011 | 11:00 AM ET

Nasdaq OMX Group is reassessing its strategy following the NYSE/Deutsche Boerse deal, and it won't "sit on the sidelines" as the latest round of consolidation in the industry heats up, a source told CNBC.

NASDAQ MarketSite Tower, Times Square, New York, NY
AP
NASDAQ MarketSite Tower, Times Square, New York, NY

Speculation has been rampant as to what steps the Nasdaq may take to remain competitive in the global exchange landscape, including one idea that it could join forces with the CME Group and make a counter-bid for the NYSE.

Analysts dismiss such a deal as too expensive. There is also speculation that the Nasdaq could be the first U.S. stock exchange to strike a major partnership with an Asian partner. Analysts say the most likely Asian partners are the Hong Kong Stock Exchange or the Singapore Stock Exchange, which is engaged in a plan of its own to merge with ASX, the Australian exchange.

Nasdaq CEO Robert Greifeld is in Paris this week for an appearance at a conference. Despite speculation, CNBC has learned he is not holding talks with any European exchange officials. In addition to the proposed NYSE Euronext/Deutsche Boerse merger, the LSE and TSX, Toronto Stock Exchange announced their own plans to merge last week.

Nasdaq shares rebounded Wednesday, following a slide on the day the NYSE/Deutsche Borse deal was formally announced.

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