Philadelphia Stock Exchange (PHLX) has decided to look for partners and alliances in the aftermath of the Archipelago/New York Stock Exchange (NYSE) and Nasaq/Instinet deals, its top executive said at the recent Options Industry Conference.
Sandy Frucher, PHLX chairman and CEO, said he was looking to forge deals in the coming months, before the Arca/NYSE merger takes root in stock execution and, later, options.
"The issue now is not necessarily a merger, it is reinvention - which probably comes from strategic alliances in a number of forms as opposed to simply a merger," Frucher said at the conference in Bonita Springs, Florida.
"Yes, there is a window of opportunity now...