全球交易所并购浪潮对中国交易所的影响

Influence of exchanges' M&A on exchanges of China

分析国际金融危机后全球交易所并购浪潮产生的原因、驱动因素以及对中国交易所行业的影响。指出全球新一轮交易所并购是全球经济一体化及金融市场一体化发展到一定程度的结果,是信息技术创新的产物,也是交易所之间优势互补的需求。全球交易所并购将对中国交易所行业产生巨大冲击,中国交易所必须加快推动市场化运作,寻求合适的发展途径。

This paper analyzed why some exchanges＇ MA took place and what drove these activities after the international financial crisis and the influence on exchanges of China.It pointed out that the global economic and finance market integration resulted in these new MA,especially under the help of information technology innovation and the demand of exchanges each other＇s complement advantages.All of these will produce huge impact on exchanges of China.The exchanges of China should promote market operation and seek appropriate development way.