Nasdaq grows, but still hungry

Nasdaq Stock Market Inc. chief executive Robert Greifeld finally came through with a major deal to move into Europe, but the agreement with Nordic exchange owner OMX hasn’t curbed his appetite for a presence in London.

It might appear that Nasdaq and OMX might make for strange bedfellows considering that the Stockholm-based bourse operator is only Europe’s fifth largest. But they have one very compelling thing in common: Both have made separate runs to buy the London Stock Exchange.

Both companies made it clear Friday that they not only want a presence in Europe’s financial capital, but they will keep looking for acquisitions. It might be the only way to outmaneuver rival New York Stock Exchange, which through this year’s $14 billion acquisition of Paris-based Euronext became the world’s largest financial exchange.

“What’s been impressive about OMX is that they think in a very competitive way, they think strategically,” Greifeld said during a conference call with reporters after the $3.7 billion deal was announced.

“The Nasdaq has always had to compete for every scrap of progress,” he said. “This new organization has in its DNA the desire to compete, it does not know any other way.”