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Institutional Investor (October Issue)

2013/ 10/ 23 by jd in Global News

“Atsushi Saito has reinvigorated the Japanese exchange world with a merger and a technology overhaul. Now comes the hard part: winning back market share in Asia.” Following the merger of the Tokyo and Osaka exchanges, the Japan Exchange Group ranks third behind only the NYSE Euronext and Nasdaq OMX. “JPX now controls more than 90 percent of all equity-and derivatives-trading volume in Japan.” Yet, “despite its lead in listed companies, JPX trails in foreign listings. It’s also weak in terms of options, futures contracts and exchange-traded funds (ETFs), compared with the big U.S. exchanges”

 

New York Times (December 23)

2012/ 12/ 25 by jd in Global News

The proposed acquisitions of NYSE Euronext by IntercontinentalExchange (ICE) and Knight Capital Group by Getco both “reflect the demise of traditional stock-exchange trading. The equities market has been eclipsed by the global market in derivatives, and human traders have been increasingly replaced by computers programmed to profit from split-second price anomalies.” Regulators have not kept pace with this change. “The mergers should remain on the drawing board unless and until regulators can reassure the public that the newly created companies will operate not only for private gain, but in the public interest as well.”

 

Securities Technology Monitor (March 20)

2012/ 03/ 22 by jd in Global News

The Deutsche Boerse (DB) plans to sue the EU for blocking its planned merger with NYSE Euronext. DB “plans the suit in order to recoup some of its merger costs and to clear the way to potentially make a future deal in which it could expand its derivatives operation.” DB, however, has no plans to revive the NYSE Euronext deal. DB’s main concern is that the definition of “derivatives markets” be expanded to include OTC trading, thus making future acquisitions of derivatives operations less likely to trigger monopoly concerns.

The Deutsche Boerse (DB) plans to sue the EU for blocking its planned merger with NYSE Euronext. DB “plans the suit in order to recoup some of its merger costs and to clear the way to potentially make a future deal in which it could expand its derivatives operation.” DB, however, has no plans to revive the NYSE Euronext deal. DB’s main concern is that the definition of “derivatives markets” be expanded to include OTC trading, thus making future acquisitions of derivatives operations less likely to trigger monopoly concerns.

 

Bloomberg (February 14)

2011/ 02/ 15 by jd in Global News

The proposed merger of Deutsche Börse and NYSE Euronext is “more desperation than love.” When NYSE merged with Euronext in June 2007, the two companies executed 64% of all trades in NYSE-listed stocks and ETFs. By January 2011, the figure had dropped to 33.9%. There is little to guarantee this newest merger proposal will be any more successful in reviving the fortunes of either exchange.

 

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