NASDAQ OMX and LSE both left Reeling ?

Reels of eight is known to most of us who have been to a celtic wedding, lots of dancing and swapping of partners midway through the dancing.

Now that NASDAQ OMX has been told buy the DOJ that its bid for NYSE Euronext was unlikely to be "successful in securing regulatory approval" and that LSE faces a higher bid from the Maple consotium, does a link up between LSE and NASDAQ OMX look possible?

Rumours surfaced a few weeks back that LSE was considering a tie up with NASDAQ OMX. With the LSE planned partner TMX, now being wooed by a higher offer from the Maple team, LSE maybe looking at a Plan B.

Simarly with NASDAQ OMX stymied by the DOJ, NASDAQ OMX now need an alternate strategy. A tie up with LSE could offer them a strong presence in the UK market, something that eluded NASDAQ OMX in the past.

This could be an elegant solution to both parties, one of whom maybe shortly looking for a new dancing partner.