Reply #1: New York stock exchange and Euronext merge

[IDemo]

Mark Tran
Friday June 2, 2006

The New York stock exchange (NYSE) and the pan-European exchange Euronext are merging to create the world's largest stock market.

The NYSE agreed late yesterday to buy Euronext for $9.9bn (£5.3bn) in cash and stock, trumping a larger offer from Deutsche Börse.

If approved by regulators and shareholders, NYSE's acquisition of Euronext would create a single platform where traders could deal in stocks, options, futures, commodities and corporate bonds across two continents - for up to 12 hours daily.

That could give the new exchange a decisive advantage over smaller bourses such as the London stock exchange (LSE) and trigger further consolidation in the sector.

http://business.guardian.co.uk/story/0,,1789127,00.html