Siemens the financial engineer - Siemens wants to be its own banker. Then it wants to be yours too. It's working with its own companies before unleashing its services on an unsuspecting world.
Survival of the fittest - Smaller bourses are nimbler. Stockholm introduced remote membership in 1993, and now claims 90% of Swedish trading. Even it could be usurped by the internet.
Grim repo - German repo traders want the Bundesbank to abolish its minimum-reserve requirement. Then, they say, they can compete with London. But will they be able to?