At the beginning of February 2011, all major economic journal around the world publish announcement of the imminent merger of the Deutsche Boerse and the New York Stock Exchange. The merger would create the world's largest stock exchange for shares and derivatives by joining the exchanges in Frankfurt, New York, Lisbon, Paris and Amsterdam. Deutsche Börse and NYSE Euronext will, however, not merge. Antitrust authorities of the European union have considerd the "near monopoly" merger unacceptable.
Joaquin Almunia, the EU Commissioner for competitiveness, says in the official statement with the negative decision of the European Commission, that it was impossbile to find another solution. The merger would mean creation of a stock exchange giant with a value of $ 17 billion which would dominate 90% of European stock market with derivatives. Almunia wanted Deutsche Börse to get rid of its derivatives and options exchange Eurex and NYSE Euronext to sold its derivative exchange Liffe. Both exchanges rejected.
Both the exchanges may appeal to the European Court in Luxembourg. The possible court battle could, however, last even two years and ultimately destroy the merger.
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