NYSE Euronext: New York Stock Exchange acquires Euronext

NYSE Euronext: New York Stock Exchange acquires Euronext

The New York Stock Exchange has announced that they have managed to win control of pan-European market operator Euronext.

This acquisition would create an entity worth 29 billion dollars with trading platforms in six cities. Market reports added that the NYSE has acquired 91.42 percent of Euronext capital and 92.22 percent of the voting rights.

They now have a combined presence in cities like New York, Paris, Brussels, Amsterdam and Lisbon.

The two entities believe that by merging their operations they would be able to increase the amount of their business.

NYSE said that by combining the operations they would also be able to share the costs of computer systems and administration. This alone should save them around 375 million dollars in 2009.

The new combined company would be called NYSE Euronext.