The move is another step in the co-operation between the three exchanges, who have frequently been rivals as they vie to be the pre- eminent exchange in China.

此举标志着三家交易所在合作的道路上又迈出一步，这三家交易所经常相互竞争，因为它们都在争取成为中国首要交易所。

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At the moment, the three exchanges seem happy to rub along together.

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Despite many a prediction in recent years that Europe-wide consolidation was just around the corner, it is possible that all three exchanges will carry on separately for some years to come.

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When Western Europe's new single currency, the euro, comes into use starting in 1999, the systems of all three exchanges will handle one set of contracts on euro interest rates and stock indices.

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