In April 2006, NYSE Group and Euronext signed a merger agreement, subject to shareholder vote and regulatory approval.
[16] In 2011, Bloomberg reported that the German exchange operator Deutsche Börse was in advanced talks to buy NYSE Euronext for $9.53 billion in a deal that would create the world's largest trading powerhouse.
[17] The shares of both companies were temporarily frozen on the news due to the risk of large price movements and clarifications of the deal.
[18] The proposed group would have dual headquarters, in Deutsche Boerse's newly built green tower near Frankfurt, Germany, and in New York City at 11 Wall Street.
These decisions move the two sides closer to completing the transaction, which must still pass through forty separate regulatory approval processes to be finalized.
[20] The merger was subject to review in both the United States and with the European Union (EU) for concerns it could create a "de facto monopoly".
In October 2011, CEO Niederauer said the company had received the EU's so-called statement of objections, which was more than 100 pages long, and would be responding within two weeks, possibly by asking for the opportunity for an oral hearing with the regulators.
In March, Joaquín Almunia, the EU's antitrust commissioner, expressed concern that the deal would maybe monopolize the derivatives market due to Deutsche Boerse's "vertical silo" which routes all trade clearing through its own services.
[22] NYSE Euronext and Deutsche Boerse AG delayed the deadline for completing their merger until March 31, 2012, so the exchange operators could try to persuade European regulators to approve the deal.
[27] ICE said that after the deal closed it would sell the Euronext portion of the company, including stock exchanges in Amsterdam, Brussels, Lisbon and Paris.
[30] Through a single electronic trading platform, NYSE Liffe offers customers access to a wide range of interest-rate, equity, index, commodity and currency derivative products.
[30] NYSE Liffe also offers its customers the Bclear and Cscreen services, which bridge the listed and over-the-counter (OTC) markets.
A significant minority equity stake in NYSE Liffe US is held by six external investors: Citadel Securities, DRW Investments, Getco, Goldman Sachs, Morgan Stanley and UBS.
[30] The NYSE Amex Options business uses a hybrid model combining both auction-based and electronic trading capabilities that is designed to provide a stable, liquid and less volatile market.
The NYSE Arca Options business uses a technology platform and market structure designed to enhance the speed and quality of trade execution for its customers, as well as to attract additional sources of liquidity.
Issuers who meet European Union regulatory standards are qualified for listing on the regulated markets operated by Euronext.
[30] NYSE Arca Europe is a pan-European multilateral trading facility (MTF) that extends the trading scope of Euronext's regulated markets by adding blue-chip stocks from 14 European countries: Austria, Czech Republic, Denmark, Finland, France, Germany, Hungary, Ireland, Italy, Norway, Spain, Sweden, Switzerland, and the United Kingdom.
[30] SmartPool Trading Limited is a UK-registered company supplying an MTF approved by the Financial Services Authority (FSA).
It provides an exchange-led dark pool for the execution of block orders covering 15 different European markets, with a full central counter party back-end through LCH.Clearnet and EuroCCP.
It seeks to establish a leading position in trading in environment-related instruments, and has also launched a futures market with physical delivery of allowances and credits.
They provide a channel for disseminating buy and sell orders, with trades executed by NYSE Euronext member firms.
[35] NYSE Euronext's 8,000 listed issues provide members with an extensive network of global investors and business leaders with which to interact.
The opening and closing bell ceremonies hosted by the NYSE date back to 1903, taking place Monday through Friday at 9:30 a.m. and 4:00 p.m. respectively in New York City.
[37] The Broad Street area in front of the Exchange is known as Experience Square,[citation needed] where listed companies are able to market themselves and their products directly to the thousands of visitors to New York's Financial District each day.
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