Borsa Italiana to start talks to pursue "federal exchange"

Borsa Italiana announced in a statement on 7 July that it was to start talks with other European equity and derivatives markets to evaluate the possibility of building a pan-European exchange with a federal structure.

Last week, discussions were believed to be in the preliminary stages and to involve both Deutsche Börse and Euronext. Separate talks between the Milan-based exchange and Euronext opened in May, but...