The EU Commission blocks a merger due to its potential effect on European financial derivatives traded on the stock exchange (NYSE Euronext / Deutsche Börse)

On 1st February 2012, the European Commission adopted its decision prohibiting the USD 10.2 billion merger between Deutsche Börse (DB) and NYSE Euronext (NYSE). The decision is notable not the least because it is rare for the Commission to block a merger. Only 21 have been blocked compared to the 4,857 transactions that have been notified under the EU’s merger control regime since its inception in 1990. Companies, markets and position The main issue related to the effect of the transaction on the worldwide market for European financial derivatives (namely, European interest rate, single stock equity and equity index derivatives) traded on exchanges. A derivate is a financial contract whose value is derived from an underlying asset. The Commission found that the merged entity would

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Nathalie Jalabert-Doury, Gillian Sproul, Jens Peter Schmidt, Kiran Desai, The EU Commission blocks a merger due to its potential effect on European financial derivatives traded on the stock exchange (NYSE Euronext / Deutsche Börse), 1 February 2012, e-Competitions Bulletin US Mergers in IT, Art. N° 53076

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