
Acquisitive Exchanges Find Dealmaking is Only Half the Battle
While the large-scale exchange mergers of yesteryear may be over for now, regional bourses are still finding themselves in the M&A crosshairs. Yet for those operators that pick up smaller rivals, technology and data integration often prove to be trickier than antitrust approval.
Tie-ups between the stock exchanges that bear the names of cities and countries always make headlines. But, for those involved in the deals, once they get past the boardroom, the real work can lie in picking apart technology and infrastructure. It is not often an easy task. The technology and data burden can often involve many months or years of planning and integration, especially in circumstances where exchanges are anchored to legacy systems.
“Getting to the requirements is often the
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