Bloomberg News

Deutsche Boerse CEO Not ‘Sleepless’ Over ICE-NYSE Deal

January 21, 2013

Jan. 21 (Bloomberg) -- Deutsche Boerse AG, the German exchange blocked from buying NYSE Euronext (NYX:US) last year, said it's not worried by IntercontinentalExchange Inc. (ICE:US)’s agreement to acquire the operator of the New York Stock Exchange.

“It hasn’t caused us any sleepless nights,” Reto Francioni, chief executive officer of Deutsche Boerse, said in an e-mailed version of a speech he’ll make at the company’s annual New Year reception in Eschborn, Germany, this evening. “We anticipated a step such as the ICE -- it could have been another non-European stock exchange organization -- and prepared ourselves for it very early on.”

ICE, the 12-year-old energy and commodity futures bourse, agreed on Dec. 21 to acquire NYSE Euronext for cash and stock worth $8.2 billion. European Union regulators blocked Deutsche Boerse’s purchase of NYSE last year, citing concern over competition in derivatives and clearing and rejecting arguments the combined exchange would be a regional champion.

“Through that merger, Europe would have been able to increase its influence significantly on a positive and socially responsible design for world markets,” Francioni said. “I think that Europe wasted an essential opportunity.”

To contact the reporter on this story: Nandini Sukumar in London at nsukumar@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net


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Companies Mentioned

  • ICE
    (Intercontinental Exchange Inc)
    • $184.4 USD
    • 0.95
    • 0.52%
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