Deutsche Boerse AG sought to convince EU regulators to judge its bid for NYSE Euronext by assessing over-the-counter derivatives trading and not only its impact on the smaller exchange-listed market, in its bid to win clearance for the deal.The European Commission is reviewing the $9 billion transaction only in terms of the exchange-listed market, sources have told Reuters. Securing EU regulatory approval is seen as the biggest hurdle for the operators, whose combination would create the world's largest exchange operator.The narrower market underlines the impact of the combination, which would have more than 90 percent of the trade in exchange-listed futures in Europe, and has put pressure on the operators to offer significant concessions to secure regulatory approval for the deal.Andreas Preuss, chief executive of Deutsche Boerse's Eurex derivatives unit, attended a closed-door hearing with regulators in Brussels on Thursday, urging them to take the broader view.
NYSE Euronext is a global operator of financial markets and provider of trading technologies. Shares of NYX traded higher by 8.21% or $2.14/share to $28.19. In the past year, the shares have traded as low as $23.24 and as high as $41.60. On average, 4093820 shares of NYX exchange hands on a given day and today's volume is recorded at 2075390.
