A Rollup of Rollups
Drilling down, the Euronext is itself a rollup of the Amsterdam Stock Exchange, Brussels Stock Exchange, and Paris Bourse – a three-way EU merger completed on September 22, 2000. Upon creation, the Euronext then acquired the London International Financial Futures and Options Exchange (LIFFE) in 2001 and the Portuguese Stock Exchange (BVLP) in 2002. Euronext is currently in the process of acquiring the Italian Stock Exchange, Borsa Italiana.
The creation of NYSE Euronext marks the world’s first international stock exchange. And it’s certainly a harbinger of things to come. In the digital world, it’s easier than ever for investors to diversify their investments across global markets. And with the NYSE merger, it’s going to get even easier. I imagine European stocks will someday be purchased on the NYSE without ADR’s. And sector indices will be expanded to include overseas companies. Imagine your industry ETF’s diversified across two continents. Or the S&P 500 superceded by a Trans-Atlantic index…
Where ValueWiki Fits In
We’re trying to anticipate this brave new world by building a site where a Canadian can research stocks in India, while a Singaporean can research stocks in Italy. Wikipedia has chosen to fragment their wiki into dozens of languages. This means an article I read about France is probably written by Americans, not the French. For the time being, ValueWiki will stick to English as a common language. But is this the best choice? Does it satisfy the greatest number of people? As always, we’re curious to hear your opinions.