Nasdaq intends to have its headquarter for its new joint venture with Deutsche Börse's Neuer Markt and the London Stock Exchange's techMark in London, with only a small number of staff working out of Frankfurt.

Yesterday, the London and Frankfurt exchanges announced their intention to merge, forming Europe's biggest stock exchange, iX. At the same event, the merger partners and Nasdaq of the US said they had entered a joint venture to create a pan-European exchange for high-growth stocks.