Of Special Interest
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
22nd November 2011
Deutsche Borse / NYSE derivatives proposal
Deutsche Börse and NYSE Euronext have offered limited disposals of derivative operations in order to try and gain approval from the European Commission for their proposed merger.
The proposal is for NYSE Euronext to divest its pan-European single equity derivatives business, including Bclear, except the options businesses in its home markets. Deutsche Börse would divest its respective business in the NYSE Euronext home countries. This proposal does not therefore alter the main European competition concern of the new group owning both NYSE Liffe and Eurex, the two largest European derivatives exchanges. The two exchange groups comment "With respect to European interest rate and equity index derivatives, Deutsche Börse and NYSE Euronext propose to grant unprecedented third-party access to Eurex Clearing for derivatives product innovations taking advantage of the merged entity‘s clearing services. The clearing services would be provided on a fair, reasonable and non-discriminatory basis and include cross margining".
The two exchanges also argue that the competition arguments should be viewed on a global basis comparing the proposed grouping against the major US and Asian markets as opposed to purely an internal European view.
The revised proposal automatically adds 15 days on to the review timetable with a decision now expected on January 23rd 2012.