Deutsche Boerse/NYSE to use latter's stock platform: report
The financial market formed by operators Deutsche Boerse and NYSE Euronext will probably use the latter's stock trading platform, the head of the German operator said on Monday in a newspaper report.
"The momentum is going towards the NYSE Euronext system for the stock market," Reto Francioni told the German business daily Handelsblatt, while "on the derivative side it is probably our system that will be used."
That would mean an end to Frankfurt's Xetra trading platform, but Francioni said that "Frankfurt and the financial sector will profit" from the merger and that fears over its decline were "unfounded."
The merger will combine operators in Amsterdam, Brussels, Frankfurt, Lisbon, New York and Paris to create the world's largest financial financial market, pending approval by regulatory agencies.
Staff of both Deutsche Boerse and NYSE Euronext have been invited to propose names for the new group, Francioni said.
© 2011 AFP