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Tuesday, February 15, 2011

WRAPUP 3-D.Boerse, NYSE near deal; SGX cedes ground on ASX tie-up

Deutsche Boerse and NYSE Euronext are expected to sidestep thorny political issues in announcing a deal later on Tuesday to create the world's largest exchange operator, as the wave of global stock exchange consolidation gathers pace. In Asia, Australian bourse operator ASX and suitor Singapore Exchange revised the board structure of their planned $7.9 billion tie-up in an attempt to win the support of Australian lawmakers wary of ceding control of the local bourse. Nationalism is one of the biggest hurdles to the consolidation sweeping the industry as exchanges are often seen as symbols of national pride. The deals, including a bid by the London Stock Exchange to take over Toronto Stock Exchange operator TMX Group , face intense scrutiny from regulators and politicians around the world.

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