New York Stock Exchange (NYSE) and Euronext signed its
"merger of equals" agreement on 1 June, with the derivatives
business "one of the big sources of strength," according to
NYSE chief executive John Thain.
Speaking at a press and analyst conference on 2 June, Thain
said, "Derivatives is a business that's growing very, very
quickly?. We think there are great opportunities to cross sell
across our different customer bases."
Executives at the respective exchanges have been keen to
highlight the potential synergies of the deal, particular in
terms of technology. According to exchange figures, $275m worth
of cost savings were expected over a three-year period.
NYSE and Euronext presently operate six different trading
platforms between them, a number they plan to reduce to two,
one for cash and one for derivatives, under the proposed deal.
The derivatives platform was expected to be Liffe Connect, a
significant win for Euronext's recently formed Atos Euronext
Market Solutions technology subsidiary (see FO Week
Vol 10 No 30).
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