Having a unified financial market makes sense, but having multiple stock exchanges is also a good idea. The US has New York and NASDAQ. Currently the EU has Euronext, DAX and NASDAQ Nordic and Baltic.
Maybe some consolidation wouldn’t be a bad idea, but given how the markets are at the moment I would expect a significant crash is needed before anyone would give up their exchange.
There are already some large players and it is pretty likely that they just buy out smaller exchanges and then integrate them into a larger multinational one. Euronext is already quite far along in that process.
Having a unified financial market makes sense, but having multiple stock exchanges is also a good idea. The US has New York and NASDAQ. Currently the EU has Euronext, DAX and NASDAQ Nordic and Baltic.
And Paris, and Vienna and Budapest and … (link)
Maybe some consolidation wouldn’t be a bad idea, but given how the markets are at the moment I would expect a significant crash is needed before anyone would give up their exchange.
There are already some large players and it is pretty likely that they just buy out smaller exchanges and then integrate them into a larger multinational one. Euronext is already quite far along in that process.