Jim Cramer, the erstwhile pundit and TV personality, thinks that the New York Stock Exchange has some huge upside. For one thing, he's impressed with the early showing of the Big Board's much discussed hybrid system. He also notes that listings are up, as is trading. But he seems to be most enthusiastic about the NYSE's overseas prospects. The Euronext deal might be adding to earnings as soon as 2007. If the NYSE and Euronext were to somehow align with the Tokyo Stock Exchange--some sort of talks have been in the works--Cramer claims "you are talking about one mega exchange that could dominate the world's stock and currency businesses." This is certainly what the NYSE would have you believe. There are some wildcards. The Nasdaq isn't exactly a non-issue, and the hybrid system will need to evolve further perhaps. Political opposition in Europe is also nothing to scoff at. But if all the stars align, the NYSE should benefit--we'll see.  

For more on this:
- Here's the column from TheStreet.com
ALSO: The NYSE shutters one of its trading floors. Article