Recent meetings of the GrahamBishop.com fora have underlined the continuing confusion about some aspects of the possible combination of the EU stock exchanges. This short paper attempts to set out some "competition" issues that still need to be clarified before policy-makers and stockholders can develop a considered view about the desirability of possible combinations. Most market participants are unfamiliar with the details of EU competition policy, yet it could easily have a decisive influence on the future shape of financial markets. This note is intended to form a basis for discussions at future meetings.
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