马拉松选手罗伯特•格雷菲尔德(Robert Greifeld)有毅力，这是一件好事。这位现年50岁的纳斯达克-OMX集团(Nasdaq OMX Group)首席执行官最近进行了一轮令人精疲力竭的疯狂采购，将三家新的交易所收归纳斯达克家族旗下。
It is a good thing marathon runner Robert Greifeld has stamina. The 50-year-old chief executive of the Nasdaq OMX Group has been on an exhausting shopping spree, acquiring three new exchanges as part of the Nasdaq family.
The recent merger with Sweden's OMX – which followed a complex agreement with Dubai's bourse that saw the emirate taking a stake in the Nasdaq group – is the biggest challenge. Mr Greifeld must try to assimilate the technology, staff and culture of the Scandinavian exchange with the US bourse.
These transatlantic challenges will need to be juggled with seeing through the deals he has signed with the Boston and Philadelphia stock exchanges.
He faces fierce competition from other exchanges, most notably bitter rival NYSE Euronext, and also from investment banks challenging exchanges on their pricing.
In a video interview with FT.com, Mr Greifeld discusses exchange consolidation, Dubai's political influence, his ambitions in the derivatives business and immigration. Edited highlights of the interview appear below.
Nasdaq's merger followed an agreement that Dubai's bourse would sell its OMX shares to Nasdaq in exchange for the emirate taking a stake in the US group. How essential was Dubai to Nasdaq closing the OMX deal?
I think it was essential. We see great opportunities. We, like others, love the potential in the Middle East and the developing world. We have a basic belief that their organic growth rate will be fundamentally higher than ours or Europe's in the years to come.
And how much influence will Dubai have on Nasdaq here in New York?
They'll be our single largest shareholder, owning 19.9 per cent. They will have two seats on the board. They will be restricted to 5 per cent voting rights and that's not a Dubai rule. It's the rule the Securities and Exchange Commission has put upon any large shareholders, so we have a number of other shareholders who fall within that rule. Should we be concerned about Dubai's possible political influence on the Nasdaq group? No. We voluntarily submitted the transaction to the [Committee on Foreign Investment in the US, the government committee that vets cross-border deals]. Thirteen governmental agencies [had] the opportunity to opine upon the merits of a transactions and whether it [raised] any national security concerns. So we voluntarily went through that process, we passed that process and the Cfius panel said go ahead with the transaction.
他们将成为我们最大的单一股东，拥有19.9%的股份，占有两个董事会席位。他们的表决权将限制在5%。这不是迪拜的规定，而是美国证券交易委员会(Securities and Exchange Commission)对所有大股东的规定，我们有许多其他股东都受到这个规定的约束。我们应该为迪拜可能对纳斯达克集团产生的政治影响感到担忧吗？不必。我们主动提交这笔交易（给负责审查跨境交易的美国政府部门——外国投资委员会(Committee on Foreign Investment)）。13家政府机构有机会就交易的价值及其是否会（引起）国家安全担忧发表意见。因此我们主动走了这个程序，而且通过了审查。外国投资委员会的专门小组说我们可以着手进行这笔交易。
Derivatives can be a great high-margin business. Are you interested in getting more involved?
Definitely. We've made two significant moves into derivatives, one is the acquisition of the Philadelphia Stock Exchange, which will close in the next 60 days; two is the acquisition of Nord Pool. So Nord Pool is the leading trader of derivatives for power and for carbon trading in the Nordic regions and certainly under our leadership we expect to expand them into a pan-European context.
当然了。我们在衍生品领域已经迈出重要的两步。一是收购了费城证券交易所(Philadelphia Stock Exchange)，交易将在今后60天内完成；二是收购了北方电力交易所(Nord Pool)。北方电力交易所是北欧地区电力及碳交易衍生品的领先交易商。当然，我们希望，在我们的领导下，它能扩张成为一家泛欧交易所。
In derivatives overall, is the CME's dominance now unchallengeable?
Well, I don't know about that. It's not something that's on our radar. We have many, many different opportunities and we have picked our spots in derivatives. We're not into direct competition with the CME. When you look at carbon trading and power trading there's great opportunities for us in the Nordic region and in the rest of Europe, hopefully in the US and in the cash options market place.
America has an election this year – at a time when the economy is slowing down and when we've seen a credit crunch on Wall Street. Do you worry that all of these things coming together will mean that we see an increase in protectionist sentiment and maybe policies?
I don't worry about it but certainly don't want to see that [happening]. Clearly, [we] in the US are beneficiaries of globalisation. Globalisation like any other set of human progresses is uneven but the progress is definite and we've raised our standard of living, so we want to see that continue. As you can guess since we will be acquiring Nord Pool, which is a leader in carbon trading, we wouldn't mind seeing a carbon trade regime coming in the US and we certainly support the candidates supportive of that initiative.
Do American CEOs need to make the public case more forcefully for free trade or risk putting their businesses in jeopardy?
No doubt and certainly we at Nasdaq have a very strong outreach programme but I just want to put it in context. As a sitting CEO of a public company you have many things coming at you and you're in this position because you have the ability to multi-task. But like anything else, there's room for improvements; and communication to policy makers [regarding] the benefits that businesses get from globalisation is something that we should focus on.
What about immigration? Is America sufficiently open to the most talented people in the world?
Definitely not. We have very strong views that we are bungling this issue [by] conflating the illegal immigrant issue with the issue of getting highly skilled employees into the US. When I speak to the chief executives out in Silicon Valley that is the number one issue, and they will not wait for the US [government] to solve these problems.