In Europe, the London Stock Exchange had a suitor in Germany's Deutsche Borse , until that deal was scuttled by Deutsche's shareholders in early March.

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In its bid with ICE to take the NYSE away from Deutsche Borse, Nasdaq OMX says its superiority at technology means it can achieve more cost savings.

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Sweden's Financial Supervisory Authority (FSA) did not impose a penalty against Borse Dubai, even though it entered into options agreements with shareholders to buy 23.5% of OMX.

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Bednar, who is advising NYSE Euronext on its planned merger with Deutsche Borse, also got an interesting look into what the public thinks of that deal before the panel began.

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Driven by a desire to get bigger in the exploding options market, rival Nasdaq in 2007 struck deals to buy the Philadelphia Stock Exchange, the Boston Stock Exchange and Stockholm-based OMX (this last deal is being done with Borse Dubai).

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When the dust settled, Nasdaq had OMX and a foothold in London, and Borse Dubai had a 30% stake in Nasdaq (10% of which is in a nonvoting trust to honor U.S. laws prohibiting the sale of strategic assets to foreigners).

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Borse Dubai is going to have a hard time convincing the established shareholders of OMX , including the Swedish government and the powerful Wallenberg family, that it will be a better owner of the Nordic bourse than The Nasdaq Stock Market .

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