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Excerpt from our Wall Street Breakfast, a one-page summary of this morning's key market-moving and stock-moving stories:

NYSE Looks East [TheStreet.com]

Summary: New York Stock Exchange CEO John Thain confirmed yesterday that the NYSE has had preliminary talks with the Tokyo Stock Exchange about an as-yet unspecified joint venture. Speaking at a conference sponsored by the Society of American Business Editors and Writers in New York, Thain was careful to avoid the word "merger" and refrained from commenting on reports that the exchanges might take equity stakes in one another. The Tokyo exchange says it is examining assorted "business alliances" with the NYSE but similarly declined to specify. Although any alliance would be complicated somewhat by the fact that the Tokyo exchange is not public, Thain believes such an alliance makes sense and "over time will occur." In other indications of consolidation in the exchange sector, the Chicago Mercantile Exchange recently purchased its rival the Chicago Board of Trade for nearly $8 billion, and the NYSE agreed in June to purchase Euronext, the European equities and derivatives exchange, for $10 billion. The merger is expected to close next quarter.
Related links: Tokyo Stock Exchange Favors Euronext-NYSE DealU.S. Exchanges Continue To Trim Expenses Through Consolidation, M&A ActivityWhy I'm Long-term Bullish on the Exchanges On the CME-CBOT Merger: Is Chicago the World’s New Risk Manager?NYSE, Tokyo bourse mull possible alliance [MarketWatch]
Potentially impacted stocks and ETFs: NYSE Group, Inc. (NYX), CBOT Holdings, Inc. (BOT), Chicago Mercantile Exchange Holdings (CME) • First Trust IPOX-100 Index (FPX)

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Source: NYSE Eyes Joint Venture with Toyko Stock Exchange