Chief Executive Reto Francioni signalled that he
would continue to look out for consolidation opportunities even
if the European Commission blocks the planned takeover of NYSE
Euronext.
Some people are asking why not confine ourselves to our
home countries and serve the real economy, he told the Global
Securities Financing conference in Luxembourg on Wednesday.The answer is quite simple. Many and more and more of our
customers are global and therefore exchanges need to be global
as well. Nobody can stay cocooned in a local environment while
chief customers and main competitors undergo a rapid wave of
consolidation.A source told Reuters on Tuesday that national competition
regulators in the European Union have endorsed a recommendation
that the EU block a merger of Deutsche Boerse and NYSE Euronext.A vote by all 27 commissioners, the final stage in the
process, is expected on Feb. 1.We have got approval for this project from many national
and international regulators and now wait for Brussels,
Francioni said.He still rallied for the proposed deal, saying a combination
of NYSE Euronext with Deutsche Boerse would help bring European
and U.S. regulators together and therefore improve global policy
coordination.Whatever the outcome of the final stage of the decision
process. Truly international integrated exchange organisations
not only stand for cost savings. They also stand for increased
market safety and market integrity, he said.
~Kim Kardashian news - http://Kim.GotJuicy.com

Read full article: More…continued here