Germany’s Deutsche Börse Buys New York Stock Exchange

Germany’s Deutsche Börse and the NYSE Euronext agreed on a $10 billion all-stock merger today. The deal will combine two of the world’s biggest stock exchanges.
The NY Times Dealbook reported:

NYSE Euronext and Deutsche Börse agreed on Tuesday to a $10 billion all-stock merger, combining two of the world’s biggest stock exchanges into a trans-Atlantic powerhouse.

The union of the operators of the New York Stock Exchange and the Frankfurt Stock Exchange marks the biggest instance of consolidation among exchanges, as established players contend with smaller electronic markets that have seized market share.

By combining, the two companies hope to create a giant among financial markets, allowing investors access to thousands of stock listings in the United States and Europe, as well as options, derivatives and other services. But the deal has also stoked fears that New York and its iconic “Big Board” are ceding prominence as a major financial capital.

Last week, the London and Toronto stock exchanges announced their own merger, and in October SGX, the operator of the Singapore stock exchange, said it plans to buy the Australian Stock Exchange.

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