NYT: NYSE May Soon Have European Owners

Traders work on the floor of the New York Stock Exchange minutes after the closing bell Oct. 5, 2010, in New York City.

/ GETTY IMAGES

The New York Times reports that the New York Stock Exchange is in "talks on a merger with the operator of the Frankfurt Stock Exchange." The exchange faces pressure from electronic upstarts that are taking business from it, reports the Times. The paper says a deal would create the world's largest financial market.

According to the Times, "A merger would potentially let customers trade stocks in New York, options tied to those shares in Paris and derivatives linked to them in Frankfurt."

The Times reports that the merger - or the potential for a merger - is an example of technology and globalization changing the world marketplace. The report states that the number of trades being done from places far away from the Stock Exchange via computer as a major reason the NYSE's presence is not as great as it used to be.

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