Deutsche Boerse and NYSE extend merger deadline

Deutsche Boerse and NYSE extend merger deadlineDeadline for completion of the planned merger of Deutsche Boerse and NYSE Euronext has been extended to March 31 next year as they seek to convince European regulators to back the $9 billion deal.

The Securities and Exchange Commission was told by the exchanges that they were exercising their right to extend the initial termination deadline of December 31 2011. Authorities in Europe are fearful that the merged entity will have a monopoly in European futures and options and have sought remedies from the exchange that between them has over 90 percent of European trading, to address this concern.

In November, the exchanges offered concessions including pinning-off parts of NYSE’s futures trading business and offering open-access to D.Boerse’s clearing unit to rival exchanges but these were rejected by European officials.

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