A perfect match

The rush of consolidation among Europe’s exchanges has sparked speculation that Asia may follow along the same path. But Asia’s derivatives exchanges are, instead, eyeing loose alliances outside the region. Melvyn Westlake reports

Every time a chief executive at one of Asia’s exchanges gets a telephone call these days, he must wonder whether it heralds some tantalising offer of a tie-up or amalgamation. Speculation about mergers and strategic alliances between the exchanges of Asia-Pacific is gripping the industry once more, and this time it is fuelled by the recent pace of consolidation among Europe’s exchanges. “Everybody is talking to everyone else,” says Fred Grede, chief operating officer of Hong Kong