EU extends review of D. Boerse and NYSE merger
European competition regulators have put back their report into the planned merger of German stock exchange Deutsche Boerse and NYSE Euronext by a week, to December 22.
The delay has come after Deutsche Boerse said it needed more time to reply to the list of concerns sent to them by the European Commission.
The two exchanges were sent a statement of objections from the EC on October 5 as it probes possible effects of the deal on competition in Europe.
“The statement of objections is a substantial and long document, and we are analysing it and preparing our response,” Deutsche Boerse said in a statement.
“Given the complex issues involved and our desire to provide a full and comprehensive response to the Commission, we have asked for, and received, seven additional working days to provide our submission.”
The $10bn (£6.3bn) merger of the two exchange giants would combine two very large derivatives trading and clearing operations, which other market participants such as the London Stock Exchange fear could push up fees and hinder new startups in the market.