Nyse: The Analysis of Transition

摘要

I am amazed. Well, not amazed, but pleasantly surprised. They overcame the skeptics. The NYSE pulled off the acquisition of a lifetime (Euronext), implemented the Hybrid, cut costs to the bone, increased revenue, became profitable, and held off virtually all of the upstart/recapitalized regional exchanges and ECNs. Who would have thunk it (other than John Thain)? I thought it was beyond odds. But I guess everyone has to eat a bit of crow every once in a while.