Deutsche Boerse's planned $9 billion acquisition of NYSE Euronext could create opportunities for rivals, especially if the two are slow to integrate, the vice chairman of Nasdaq OMX Group said on Thursday. Meyer "Sandy" Frucher also told Reuters in an interview that acquisitions were currently not a priority for the operator of US and European trading venues, even as exchanges around the world get caught up in a wave of consolidation.
Deutsche Boerse agreed to buy the parent of the New York "Big Board" in February. The deal was the largest among the several major bourse deals announced this year, most of which failed. Analysts have said that the deal, if it clears regulatory scrutiny in Europe, would put pressure on Nasdaq.
But Frucher told Reuters there could be opportunities for the US and European exchange operator, especially if Deutsche Borse and NYSE take some time to bring their business together. "Having been part of large mergers in my life before, I can tell you it takes up all the energy that's in the room," he said.
"While they're busy consolidating systems, we're going to be busy selling systems." Nasdaq, which runs US and Nordic trading venues, is not actively seeking acquisitions, and is looking to build its business through partnerships and alliances, Frucher said. "I don't think that (acquisitions) are our priority at the moment, but our eyes are always open," he said. "You don't always have to be Pac-Man, there are other ways of interacting."
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