Finally, stock exchange alliances and increasing collaboration is acting to improve governance standards globally. Through exchange alliances and initiatives to attract dual listings, exchanges are also helping to spread good governance standards globally. For instance, NASDAQ OMX has been active in providing counselling to exchanges in Eastern Europe and the Middle East on how to improve transparency and disclosure in their local market though sharing its experiences in this area. Though it is debatable whether such initiatives will lead to regulatory harmonisation, it is clear that they can lead to potential improvements of governance standards in emerging markets. .
