纳斯达克(Nasdaq)首席执行官鲍勃?格雷菲尔德(Bob Greifeld)日前预测，尽管全球证券交易所行业的大型参与者试图整合该行业，但业内将继续分化。

The global stock exchange industry will see continued fragmentation in spite of attempts to consolidate¹ it by large sector² participants, the head of the Nasdaq Stock Market has forecast.

格雷菲尔德表示，未来将出现越来越多“类似于交易所”的机构，从而加剧该行业的竞争。“最近的监管变革实际上允许电子通信网络和其它规模较小的机构参与竞争，”他向英国《金融时报》表示。

Bob Greifeld said more and more “exchange-like” institutions will emerge in the coming months and years, adding competition to the business. “Recent regulatory changes essentially³ allow electronic communications networks and other smaller players to compete,” he told the Financial Times.

他指出，所谓的“暗流动性池”( dark liquidity⁴ pools)——投资者在公开市场以外进行交易——等非传统竞争渠道正日益受到青睐，这表明，尽管交易所行业出现了大量合并案，但分化仍在加剧。

He pointed⁵ to the growing popularity of non-traditional sources of competition such as so-called “dark liquidity pools” – where investors⁶ trade outside the public markets – as evidence that in spite of a spate⁷ of exchange mergers⁸, fragmentation was increasing.