Thain: Asia push will make NYSE Euronext global

NEW YORK (Reuters) - Trans-Atlantic exchange NYSE Euronext (NYX.PA: Quote, Profile, Research, Stock Buzz) (NYX.N: Quote, Profile, Research, Stock Buzz) will become truly global by strengthening its positions in the leading financial centers of Asia, chief executive John Thain said on Tuesday.

Thain said NYSE Euronext expects to strengthen its existing relationships with the Tokyo Stock Exchange (TSE) and India's National Stock Exchange (NSE) and become established in China.

"The place we need to build out a position is in Asia," said Thain at the Reuters Exchanges and Trading Summit in New York.

"At some point in time we'll get a position in China ... then we really will be global."

In January, NYSE announced an alliance with the TSE, Asia's biggest bourse, and also acquired a 5 percent stake in the NSE, India's biggest stock exchange.

The Tokyo exchange plans to have an initial public offering in 2009 and Thain said that eventually he foresaw some form of equity holding for his company.

Thain also said he expects NYSE Euronext to have a bigger stake in India's NSE in the next few years.

"I don't think it's important to be in every part of the world, but it's important to be in the major financial centers of the world," said Thain.

NYSE Euronext was formed by the recent merger of the largest U.S. stock exchange with Paris-based Euronext, amid a wave of global consolidation in the exchange and trading industry.