NYSE Euronext and Deutsche Boerse confirmed today that they have submitted a remedy proposal to the European Commission's competition regulator.
The two proposed remedies to alleviate competition concerns in derivatives trading and clearing raised by the impending merger of the companies, while preserving the logic of the transaction.
The exchanges have proposed to divest the portions of their respective businesses in which they overlap.
Divestitures would include the NYSE Euronext
)'s pan-European single equity derivatives business, except the options businesses in its home markets, where Deutsche Boerse would divest its respective business.
With regard to European Interest rate and equity index derivatives, Deutsche Boerse and NYSE Euronext propose to grant third-party access to Eurex Clearing for derivatives product innovations taking advantage of the merged company's clearing services.
The Nasdaq OMX Group
) and IntercontinentalExchange
) withdrew a rival bid to acquire NYSE Euronext in May after discussions with US antirust regulators suggested they would not win approval for a deal.
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