Pressure on Nasdaq for deal

NEW YORK – With two of its rivals set to combine into the world’s first trans-Atlantic securities market, Nasdaq Stock Market Inc. chief executive Bob Greifeld is expected to come under increasing pressure to pursue his own transformative deal.

It’s not that he hasn’t been trying – last month, Greifeld must have been dreaming that he would be the man to introduce the creation of the world’s largest stock exchange. But the Nasdaq’s offer to buy the venerable London Stock Exchange was soundly rejected.

That moment in time instead went to NYSE Group Inc. CEO John Thain on Friday. He was the one who unveiled the $9.96 billion deal to acquire Europe’s second-largest exchange – Euronext NV.

The race to become the first truly global stock exchange appears to have been won by the NYSE, but Wall Street isn’t counting Greifeld out. The fierce rivalry between the Big Board and Nasdaq is expected to continue.

“The Nasdaq signaled their desire and belief in a trans-Atlantic entity first, but that’s not the way it played out,” said Bill Cline, of the consulting firm Accenture.

Greifeld is said to be eyeing a number of chairs. First and foremost, the prize continues to be the London Stock Exchange.