An Assessment of the Competitive Effects of the Proposed Merger of the New York Stock Exchange and the Nasdaq

In March of 2000 the New York Stock Exchange proposed a merger with The Nasdaq Stock Market. Applying a qualitative assessment to the proposed merger from the organizations’ perspective it is argued that the merger would be favorable for both organizations. Applying a quantitative assessment to the proposed merger from an antitrust perspective it is shown that the merger should be disallowed by federal antitrust regulators if the industry is to be treated as any ordinary industry.

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