NYSE, Deutsche Boerse sell derivatives businesses
Stock market operators NYSE Euronext and Deutsche Boerse said Friday they would sell parts of their derivatives activities to address EU Commission concerns about their merger.
"NYSE Euronext and Deutsche Boerse today confirm that they have submitted a remedy proposal to the European Commission... to divest the portions of their respective businesses in which they overlap," the two groups said in a joint statement.
NYSE Euronext would "divest its pan-European single equity derivatives business, including Bclear, except the options businesses in its home markets, where Deutsche Boerse would divest its respective business," the statement said.
The proposal was designed to address the Commission's remaining concerns in derivatives trading and clearing and would "eliminate the existing overlap in European single equity derivatives," the statement said.
© 2011 AFP