Holy High Frequency Electronic Trading, Batman!

[Guest ValueCarl]

Under the terms of the deal NYSE Euronext stock will be exchanged for 0.47 shares in the new company, while Deutsche Boerse shares will be swapped on a one-for-one basis, the exchanges said in a statement on Tuesday.

 

As previously trailed, NYSE head Duncan Niederauer will be chief executive and Reto Francioni of Deutsche Boerse will take on the role of chairman.

 

The exchanges face intense competition in their traditional stock-trading business from younger trading venues geared toward today's increasingly dominant high-speed electronic traders.

NYSE Euronext and others have responded by investing heavily in technology and expanding into more profitable derivatives trading.

 

The merger deal creates an unprecedented exchange powerhouse with more than $20 trillion in annual trading volume and operations in Germany, France, Britain, Amsterdam, Portugal, Belgium, and the United States.

 

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