LONDON, June 5 (Reuters) - Big cross-border mergers in stock exchanges look “hard” given the nationalistic focus on bourses, London Stock Exchange Group Chief Executive David Schwimmer said on Wednesday.
“There have been some big painful failures,” Schwimmer told the annual FIA IDX derivatives industry conference. The LSE has failed several times to merge with rival Deutsche Boerse .
“There will continue to be this nationalistic focus on exchanges in particular. I think it’s hard to think of doing big cross border exchange type transactions. It just feels challenging for the industry,” Schwimmer said.
Reporting by Huw Jones; editing by Jason Neely