Richard Repetto
Richard Repetto
cost exchange gives global london stock
The London Stock Exchange is an all-electronic stock exchange that gives Nasdaq a global presence. There would be cost savings, too.
focus listed strategy
I think the near-term strategy is: focus on getting listed share.
quarter slice strong
A strong quarter pretty much any way you slice it.
controls driven expense improving per quarter rate solid tight upside
A solid upside quarter (was) driven by tight expense controls and an improving rate per contract.
below estimate guidance higher implies previous
Guidance is below our previous estimate and implies higher expenses.
across atlantic exchange potential space within
I still think there is big potential for consolidation across the Atlantic within the exchange space overall.
activity clients flows money trading
The trading activity has been solid, and the new money flows from clients have been outstanding.
believe drive given locked members shares stock traded
It was thinly traded yesterday, they haven't even given the shares to the members yet and the members are locked up. I believe that the real fundamentals of the stock will drive the valuation going forth.
increase unwilling
Without that, Nasdaq was unwilling to increase its bid.
assets average believe decline drove management
We believe year-end redemptions drove a 10% decline in average assets under management to $3 billion.