Europe's other main exchanges generally had little reaction to the announcement.
A debt-fuelled rush of individual investors helped inflate a bubble on China's main exchanges but it burst last summer.
Huayi Brothers and most of the other companies on the new exchange were privately owned, while China's main exchanges in Shanghai and Shenzhen are dominated by government enterprises.
If, for example, the Coalition invoked the Civil Contingencies Act and shut down the main exchanges, some mobile broadband operators would still be able to operate.
But the markets, stitched together with emergency phone lines and borrowed computer servers to connect temporary trading floors in New Jersey with the main exchanges, have worked almost flawlessly since then, even with record trading.
The new deal appears to make Nasdaq a direct competitor with Europe's main exchanges, most of which have had sporadic but fruitless discussions with Nasdaq about trans-Atlantic alliances and partnerships.
