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Wednesday, February 20, 2013

Deutsche Boerse to focus on expansion in Asia, Latin America, (NYSE: NYX)

Deutsche Boerse AG is focusing on growth initiatives in Asia and Latin America as the Frankfurt-based exchange operator charts a fresh direction after its failed attempt to purchase NYSE Euronext. "We have now closed the chapter on the prohibited merger and are instead focusing our resources on forward-looking growth projects," Chief Executive Reto Francioni told the group's annual press conference on Wednesday."Regarding the geographic expansion of our range of influence, the crucial growth in our markets will no longer be focused in Europe or North America in future, but in Asia and Latin America."In Asia, financial infrastructure had not kept pace with the dynamic growth in the economy, the Boerse said, adding it had created a team dedicated to pushing Asian expansion.Deutsche Boerse will focus primarily on growing on its own, but would be open to joint ventures. The lack of suitable takeover targets in Asia made it unlikely the exchange will make any acquisitions, Francioni said.

NYSE Euronext is a global operator of financial markets and provider of trading solutions. Shares of NYX remained unchanged at $37.37. In the past year, the shares have traded as low as $22.25 and as high as $37.81. On average, 5089510 shares of NYX exchange hands on a given day and today's volume is recorded at 0.