A revival in M&A activity has been much anticipated and discussed almost since the start of the global financial crisis five years ago. With few exceptions, boosts in deal making have proven unsustainable.
Precious metal prices continue to build a base, with increasing evidence of a shortage of physical metal. In London gold forward rates (GOFO) continue to be negative, which means that the market will pay you more interest on your gold than on your dollars.
In both the securities and derivatives worlds, new rivals have emerged to offer comparable services for similar transactions. Here we question whether exchange mergers can stem the gains made by those alternatives.