LONDON (MarketWatch) --
Deutsche Boerse AG said Wednesday that the European Commission's decision to block its merger with NYSE
Euronext was "wrong" and called it a "black day for Europe." Reto Francioni,
Deutsche Boerse's chief executive officer, told reporters at a press conference in Frankfurt that the decision was based on "an unrealistically narrow definition of the market that does no justice to the global nature of competition in the market for derivatives." Francioni said the decision contradicted the 2007 merger of Chicago exchanges CME Group and Chicago Board of Trade, which at the time created the largest globally operating derivatives exchange. "The merged exchange group would have been the ideal partner to European regulators when it came to providing support in establishing standardized, transparent and stable markets in Europe and worldwide," Francioni added.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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