One benefit of demutualisation has been that it gives exchanges the flexibility to merge.

股份化的一个优点是使这些交易所有合并的灵活性。

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Here in China, demutualisation of regulated commodity exchanges remains a discussion topic in academic circles.

而在中国，由于受到监管机构管制，商品交易所的股份化问题仅是学术界热议的话题。

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Analysts think the demutualisation and privatisation that might allow mergers of this kind will remain rare.

ECONOMIST: Easier said than done

This admittedly reflects the large number of penny-packet holdings of privatisation and demutualisation stocks.

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Skipton says that the society is constantly reviewing its status and that the resolution will not prompt a demutualisation.

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