The New York Stock Exchange, the world's biggest share market, is mulling an earlier start to trading in a bid to steal volume from European exchanges, notably the London Stock Exchange, the Financial Times reported on Saturday. But the Big Board ruled out making a bid for the LSE which is currently holding talks with Deutsche Boerse and Euronext about their rival take-over plans to buy the London exchange.
The FT article quoted NYSE President and Co-Chief Operating Officer Catherine Kinney as saying the Big Board was not bidding for the London Stock Exchange "but would absolutely love some of their trading".
Kinney said the idea was at a very early stage and that NYSE was exploring ways of becoming a secondary market for European listed stocks, not just US listed American Depository Receipts.
So far there have been no successful moves by one exchange to steal significant share trading volume from a rival.
Recently in Europe, both Deutsche Boerse and the LSE have failed to make significant inroads into Dutch share trading, a core market for Euronext.
The NYSE, like many other exchanges, is under pressure to find new revenue streams as trading fees and other traditional sources of income come under pressure.
The Nasdaq Stock Market, the US No. 2 stock exchange, is trying to take trading volume away from the NYSE through a dual-listing strategy.