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The exchange, facing pressure from electronic upstarts that have taken business away from it, said on Wednesday that it was in advanced talks on a merger with the operator of the Frankfurt Stock Exchange.
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In California, the health insurance exchange faces an even more daunting task.
The money-losing exchange faces a decline in trading and threats from online trading systems and derivatives exchanges.
As The Economist went to press, Mr Ketchum was thought likely to sign up.The exchange faces an unpleasant few weeks.
Stock Exchange faced in 1970: the failure of Hayden, Stone; Goodbody & Co.; & F.I. du Pont & Co., & how these brokerage firms were saved.
The confusion stemming from Mr. Duffy's testimony comes as the exchange faces questions about its oversight of MF Global.
But besides volatile markets, the Toronto exchange faces the challenge that dozens of its most heavily traded stocks are also listed on United States exchanges, siphoning sizable trading volume.
If ever there was a product perfect for online trading, this seemed to be the one.Even so, the exchange faced an uphill struggle.
Now Mr. Grasso must figure out how to make the Big Board less vulnerable, even as the exchange faces growing competition from Nasdaq and other new trading systems.
No wonder exchanges, facing the threat of greater competition, are weighing up mergers.A third intention of MiFID is more transparency.
That might have worked when exchanges faced no competition.
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