Korea Exchange, one of Asia's few privately-held major bourses, is pressing to go public to compete in a fast-consolidating industry, but regulators look set to stymie any deal for the world's largest derivatives operator. The face of global finance is being transformed by a flurry of mergers, from a proposed tie-up between NYSE Euronext and Deutsche Boerse to the Singapore Exchange's $7.3 billion bid for the Australian Securities Exchange . Yet South Korea, Asia's fourth largest economy, seems insulated from all of it and may risk losing some of its own blue chips after having failed to win business for foreign listings in competition with the likes of Singapore and Hong Kong.
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