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London, Frankfurt deny rift
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July 29, 1999: 6:56 a.m. ET
Stock exchanges say talks continue on pan-European market
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LONDON (CNNfn) - The London and Frankfurt stock exchanges -- Europe's two largest stock markets --Thursday angrily refuted a report of a rift between them.
German daily Handelsblatt had claimed talks between the two aimed at creating a joint trading forum for 300 top stocks had collapsed. The newspaper said disagreements between senior management over the choice of trading platform and the major indexes to be used had caused the disruption.
However, a joint statement from the exchanges said they "sharply rejected" the report. The bourses said they were still talking about the creation of a pan-European stock market with Europe's six other major markets.
The other exchanges joined the project several months after London and Frankfurt announced their plans for a tie. They include Paris, Milan, Madrid, Amsterdam and Zurich.
The London and Frankfurt markets announced they would harmonize their trading hours beginning Sept. 20. "In the coming months we shall be making further announcements but will not comment on the status of what we are doing," the exchanges said.
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