Robert Greifeld is President and Chief Executive Officer of the Nasdaq Stock Market. He has led the American exchange’s nimble, but risky, bid to buy the London Stock Exchange, despite hostility from the LSE board. The company currently holds more that 25pc of LSE shares, and has the opportunity of mounting a full bid in September. Most commentators expect that to happen in the event of an amicable deal proving impossible.

According to Nasdaq’s website :

“NASDAQ is an open, electronic marketplace that supports competition and provides companies and investors with the best outcome. Our mission is to be the premier U.S. equities market.”

Robert Greifeld is President and Chief Executive Officer of The Nasdaq Stock Market, Inc. (NASDAQ: NDAQ), the largest U.S. electronic stock market. Since joining NASDAQ in May 2003, Greifeld has taken steps to sharpen the company’s strategic direction, focusing its mission on being the premier U.S. equities market. The market’s focus is to provide the most efficient, transparent trading platform for investors by leveraging NASDAQ’s advanced trading technology; to capture the majority of U.S. IPOs and attract listings from competitive exchanges.

Tapping his 20-year industry experience and leadership with electronic trading systems, Greifeld has led a significant enhancement of NASDAQ’s trading offerings. In March 2004, he oversaw the launch of NASDAQ’s market center-a newly integrated system capable of trading of NASDAQ, NYSE, AMEX-listed securities and exchange traded funds on a single electronic platform. In January of 2004, Greifeld spearheaded NASDAQ’s innovative “dual listing” program, which for the first time allowed NYSE-listed companies to list on NASDAQ. This innovative initiative made worldwide news and significantly ratcheted up the debate regarding efficient electronic markets versus manual, floor-based exchanges. Greifeld has been a vocal advocate for modernizing market structure and increasing public company CEO attention on the performance and quality of stock markets for the benefit of company shareholders and all investors.

In May 2004, Greifeld led NASDAQ’s decision to acquire BRUT ECN from SunGard Data Systems (NYSE: SDS). The BRUT acquisition provides NASDAQ trading systems with additional capabilities, including advanced order routing. Most recently, in April 2005, NASDAQ announced a definitive agreement to purchase the INET ECN.

Greifeld is an active speaker on financial market structure and regulatory issues. He has been vocal in Washington regarding enhancements to Sarbanes-Oxley for small companies and the use of stock options as a tool for business and economic growth. Greifeld has addressed organizations including The Investment Company Institute, the National Press Club, and the World Economic Forum.

Prior to joining NASDAQ, Greifeld was an Executive Vice President with SunGard Data Systems Inc., a $6.2 billion market cap company, where he was responsible for all of SunGard’s sell-side businesses and its buy-side transaction routing businesses. While serving as President Chief Operating Officer of Automated Securities Clearance, Inc. (ASC) from 1991-1999, Mr. Greifeld led the team that created BRASS and made it the industry standard trade order management system for NASDAQ stocks.

Greifeld holds a Masters in Business from New York University, Stern School of Business and B.A. in English from Iona College. His graduate school thesis was on the operation of The NASDAQ Stock Market.

Greifeld is an avid runner and has completed four marathons. He was recently named Chairman of the USA Track & Field Foundation.

Nasdaq’s Robert Greifeld becomes a more ardent suitor with each rebuff. Still intent on taking over the London Stock Exchange despite a blunt refusal and a series of damning statements against American Sarbanes-Oxley regulation rules, Greifeld continues to ply Clara and Co. with warm congratulatory words, and admiring glances.

In truth, having borrowed to the hilt to finance a 25pc stake in the LSE, Nasdaq doesn’t have many options left but to go for a full bid in September, the earliest date it can strike under the rules.

Greifeld has described the LSE as “the Crown Jewels of the European equity marketplace” which “continues to perform very well”.

Of his 25pc stake in the London exchange, he says: “our investment today looks stronger than three months ago”. Not everyone can say that.

The London Stock Exchange and the City of London jointly commissioned some research into the cost of capital incurred by issuers in major financial centres around the world.

The study shows that the cost of capital at both Initial Public Offering (IPO) stage and beyond is lower in London than in other major financial centres included in the study, and highlights the additional value offered by London’s corporate governance standards, which are rated the best in the world.

This is another reminder to stakeholders that a takeover by Nasdaq would be a severe blow to London’s status as a top financial centre.

The LSE reports: “The study covers equity and debt on the world’s largest stock exchanges: the London Stock Exchange’s Main Market & AIM, Euronext, Deutsche Börse, NYSE and NASDAQ, which together represent 58% of total world market capitalisation.”

Following excellent first-quarter results, in which revenues leapt by 25pc, London Stock Exchange Chairman Chris Gibson-Smith has sounded a warning about a possible takeover by Nasdaq.

The imp in the hearth remains U.S. Sarbanes-Oxley regulations which could add millions of pounds in bureaucracy to London’s costs and hit the LSE’s buoyant business. Despite the FSA’s talks with its American counterpart, the SEC, worries have not been dispelled.

Gibson-Smith is reported as saying: “We fully understand that London’s stakeholders do not want a combination of exchanges that might lead to the import of unsuitable regulations and incompatible market models.”

Now if London can be as decisive in its own interests as Bob Greifeld has been in Nasdaq’s, the LSE may yet turn the tables. Euronext might be seen as having drunk from the poisoned chalice, and London could power away on a tide of new business.