Fair exchange?

摘要

Later this summer, shareholders in the London stock exchange will be asked to vote on plans to merge with Frankfurt's Deutsche Borse, to create a new joint venture exchange with the US Nasdaq, to be called iX. The proposals are surrounded by controversy. Supporters in the financial sector argue that a move like this is inevitable, because of the global nature of share trading. But sceptics in the business world warn it could put the majority of British companies at a disadvantage. Engineering companies could be particularly at risk. The carve-up of work between the two exchanges could leave London focusing on the European blue-chips, while Frankfurt concentrates on the faster-growing high-tech stocks. Many engineering groups, which are either out of favour or simply off the radar because of their depressed market capitalisation, could find it even more difficult to attract capital.