Exchange and New York Pan-European announced savings of 300 million euros in merger year

After the merger of the two major exchanges, the shareholders of the company will hold a 60% per cent stake in the merged group.　　The merger of Deutsche Exchange ("The German exchanges") with the NYSE Euronext group ("New York Pan-Europe"). Will be the world's largest exchange still needs U.S. regulators to approve the morning news reporter Xin Sunland is the winter and winter Deutsche Exchange ("de") and the New York Pan-European Exchange Group ("New York Pan-European") merger case, in New York local time Tuesday 9 o'clock in the morning (Beijing time February 15 22 o'clock in the evening) by a vote of the board of Directors　　, two companies issued a joint statement saying that the two sides have signed an enterprise merger agreement.　　That means the world's largest stock exchange is brewing.　　Annual savings of 300 million euros under the agreement, each 1 shares of NYSE Euronext will be converted to 0.47 shares in the merged group, and the 1 shares of the Exchange will be converted to 1 shares of the new company. The name of the new group is not yet established and will be set up in two headquarters, located in New York and Frankfurt. Duncan Nieder, the current CEO of the NYSE, will be the CEO of the new group, while the CEO of Francioni will become chairman of the new group.　　Two companies also said that the company's shareholders would hold a 60% per cent stake in the merged group, while the NYSE Euronext group's shareholders would have a 40% stake. The statement said the company's board will have 17 members, in addition to the Chairman and the CEO, 9 will be appointed by the Deutsche Exchange, the remaining 6 by the NYSE, the new company will be in Frankfurt, New York and Paris three listings.　　The new group will save € 300 million a year, and the deal is expected to be completed by the end of 2011. The joint statement showed that the merged group had the largest exchange group in the world, with a total income of € 4.1 billion (about 5.4 billion US dollars) and a pre-tax net profit of 2.1 billion euros (about 2.7 billion US dollars) for 2010 years.　　According to the 2010 net income, the merged group will account for about 37% of the global derivatives trading and clearing houses, 29% of the cash transaction and settlement business, 20% of settlement and trusteeship, 14% market daily indices and technical services. "The deal brings together the way the world's most successful exchange operators are leading global capital markets ...," said Reto Francioni, CEO of the company. Shareholders of two companies will benefit from unique development opportunities and synergies. Customers will have unparalleled market access, products, information, world-class technology, clearing and settlement services ... From a regulatory point of view, we are committed to maintaining the most transparent and normative platform in the world.　　"But a hug from both sides of the deal will not be the fate of the deal, but the final approval of US regulators." Americans are not optimistic. However, most market participants were pessimistic about the deal, saying the US financial institutions would prevent the 219-year-old NYSE from dominating the Shang European companies.　　The two previous attempts to merge with the NYSE in 2008 and 2009 have failed. Two exchangesMergers and acquisitions, the former Goldman Sachs Group board co-chairman White Hede furious. In an interview with the media in the previous days, he said the 219-Year-old New York Stock Exchange would be an insult to the entire United States by being bought by Germany's only 18-year-old Deutsche Exchange group. "I think it's a bad idea and I want the deal to be stopped," he said. The takeover was an insult to New York City, an insult to New York State, and even an insult to the entire United States. White Hede, a former deputy secretary of the Reagan administration and a director of the NYSE, said his rich experience meant his argument against the deal was credible, "I rarely make a public statement, but this time I can't hide my point of view." The NYSE is an important symbol of American capitalism and a representative symbol of New York as a global financial centre. "White Hede, 88 years old, took part in the Normandy landings and commanded an American landing craft at Omaha Beach. He made it clear that his opposition to the takeover was not related to his own wartime experience with the Germans during World War II, "I will oppose any country's takeover of the NYSE, and Germany is no exception."　　"Whitehead, who joined Goldman Sachs in 1947, also said he remembers seeing the NYSE on behalf of Goldman when he was young." Equally firmly opposed are the Democratic Senator Schumer of the United States. He raised two big questions about the merger of the German Stock exchange with NYSE Euronext--which side of the new exchange would be managed and how to name it, it also stressed that the name of the new exchange, the name of NYSE Euronext before the exchange, would be a "key factor" in whether it would support the deal. The question of names will relate whether the deal is a merger or a takeover case. "Mr Schumer's statement also shows that it is not easy for the deal to be approved by both parties.