Thursday, February 10, 2011

NYSE to sell to Deutsche Boerse?

NYSE's parent company, Euronext, announced yesterday it may sell out to Deutsche Boerse, the owner of the German stock exchange, based in Frankfurt.

The combined megamarket would be the stock-trading home to companies worldwide worth about $15 trillion.

Only real details announced yet are that Deutsche Boerse would own 59 to 60 percent of the company, and that they would keep both offices, in NY and Frankfurt open and allow NYSE's current CEO, Duncan Niederauer to remain CEO of Deutsche Boerse, while their current chief executive, Reto Francioni would become the chairman.

Kind of makes me wonder what affect this could have on the US Dollar as the current World Reserve Currency...

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