Where share trading takes place will be, as it has observably been in recent decades as London nicked the European business, determined by where people wish to trade shares, not by where the people who own the marketplace are.
Given this the only thing left to think about is who gets to decide who runs it?
And given that we’re talking about capitalism, that’s the people who currently own it and no one else.
Highest bidder wins and good luck to all who sail in her.
And if that bid or merger fails?
Anyone think that London is short of the capital to build a market upon which people can trade shares?
Assuming the current one doesn’t do very well?
Quite: perhaps we capitalists should be displaying just a little more faith in capitalism.