Euronext, rather than Deutsche Borse, would now provide the chairman of the merged company's supervisory board. Euronext's own NSC cash trading system would be adopted for cash equity trading across the merged company and IT services would now be based in Paris as well as in Frankfurt.
Deutsche Borse said the moves were intended to make the merged company "a federal organisation", adding that it had already started to seek antitrust clearance from the European Union.
Meanwhile, John Thain, chief executive of the NYSE, said the takeover of Euronext could be followed by a bid for the London Stock Exchange. Speaking to the Financial Times, he suggested that London's status as an international financial centre meant the merged NYSE/Euronext would need a London presence - either by taking over the LSE, or by setting up its own London exchange.
The week on Risk.net, July 7-13, 2018Receive this by email