European Exchanges, Investors’ Behaviour and Asset Allocations Criteria: Country Approach vs Industry Approach

Abstract

Several years have now passed since the first attempts at integration were made by European stock exchanges. The first stage of the process, from the end of the 1990s to the first years of 2000, led to a number of different solutions being tried and tested, and the outcome was not always encouraging. The iX (International Exchange) project between the London Stock Exchange and the Deutsche Börse and the ‘Group of Eight’ between the principal European bourses are just two examples of unsuccessful integration projects.

This chapter is the result of the authors’ common efforts and continuous exchange of ideas. The individual parts of the chapter can be attributed as follows: introduction and conclusions to Alessandro Carretta and other paragraphs to Gianni Nicolini.