Germany's Deutsche Boerse (DB1Gn.DE) is in advanced talks to buy NYSE Euronext (NYX.N) to create the world's largest trading powerhouse, marking the second major trans-Atlantic deal in 24 hours in a massive shake-up of an industry under pressure from upstart rivals. The London Stock Exchange (LSE.L) said earlier it has agreed to buy Canadian stock market operator TMX (X.TO), further highlighting the need for exchanges to cut costs and diversify businesses. The deals could spark more takeovers and leave competitors behind. Together, Deutsche Boerse and NYSE Euronext would dominate exchange trading in continental Europe. The companies said they could cut costs by 300 million euros ($400 million) a year.
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