Beyond Hong Kong

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Asia’s stock exchanges have so far been spectators to the trend of consolidation that has swept through Europe over the past year. Led by giants such as Euronext and Deutsche Börse, Europe’s exchanges have come under increasing shareholder pressure to claim an ever-larger portion of European trading business. In Asia, on the other hand, exchanges have been preoccupied with other, more elementary concerns – improving infrastructure, expanding the range of derivatives products and, in some cas

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