>such that the exchange operator (e.g. Alphabet, NYSE) cannot also be a participant in the traded assets.
If I recall correctly, ICE, which owns the NYSE, is itself traded on the NYSE. Obviously their position is small compared to that of Alphabet on the ad exchanges but I wonder if things go against Alphabet, would that force ICE off of the exchanges it owns?
If I recall correctly, ICE, which owns the NYSE, is itself traded on the NYSE. Obviously their position is small compared to that of Alphabet on the ad exchanges but I wonder if things go against Alphabet, would that force ICE off of the exchanges it owns?