Tue 10 Oct 2006
NYSE and Euronext said the move was “a merger of equals”. New biggest stock exchange would be named as NYSE Euronext, and head quarters will be in Amsterdam, New York and Paris. The market value of new born baby is about 20 bn USD.
The merge is aimed to reduce transaction costs and improve online banking and trading sector.
Mr Thain (NYSE group boss) said the deal was “an important development in the history of the NYSE, Euronext and the global capital markets…A partnership with Euronext fulfils our shared vision of building a truly global marketplace…”
One of the main benefits is ability for companies to be listed both in Euros and US Dollars with 13 hours of continuous trading and to become part of the “global super league” of dual-listed companies.