NYSE, Deutsche Boerse Announce Merger
The combined group will have 2010 combined net revenue of U.S. $5.4 billion and is expected to generate annual cost savings of around U.S. $400 million. Based on 2010 net revenues, the combined group will earn about 37% of total revenue in derivatives trading and clearing; 29% in cash listings, trading and clearing; 20% in settlement and custody; and 14% in market data, index and technology services.
Of the 15 directors, nine will be designated by Deutsche Boerse and six by NYSE Euronext.
The combined market value of the two entities is $25.5 billion, creating one of the world's largest exchange operators and a leader in derivatives trading and risk management.
Deutsche Boerse CEO Reto Francioni will be chairman of the combined entities, while NYSE CEO Duncan Niederauer will be CEO of the combined entities.
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