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Brussels blog by some wire service journalists

Europe wary of creation of ‘mega exchange’

By GABRELE STEINHAUSER

BRUSSELS (AP) — In the U.S., the planned takeover of NYSE Euronext by Germany’s Deutsche Boerse made waves because it means ceding the storied trading floor on 11 Wall Street to foreign control.

But in Europe, tradition has almost no role to play in reviews of the deal. Regulators are focused instead on how to handle a new company that would be the world’s largest exchange and control vast but rather obscure parts of the financial system.

The deal is shining a spotlight on the sector’s transforming business model. Big exchanges are no longer just the venues for trading stocks and bonds, but have turned into one-stop conglomerates that clear and settle trades in derivatives, source and sell their own data and license the use of coveted indexes like DAX or Stoxx.

READ THE FULL STORY HERE.

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