FWB Exchange Council welcomes announced business combination

The Exchange Council of the Frankfurt Stock Exchange (FWB) commented positively on the planned business combination between Deutsche Börse AG and the New York Stock Exchange, emphasising the opportunities to be gained from the combination of global presence and local roots.

Chairman of the Exchange Council Dr Lutz Raettig stressed that the planned business combination was a “clear expression of the strength and attractiveness of Frankfurt as a financial centre”, and said that Deutsche Börse’s successful integrated business model had asserted itself well. He went on to say that Deutsche Börse had already carved out a leading position in the strong growth segments, particularly with its derivatives exchange Eurex and the settlement platform Clearstream. He said that with the renowned NYSE Euronext as partner, Deutsche Börse will become the world’s leading exchange provider and thus also play a leading role in the consolidation process. The FWB Exchange Council has expressed its general support for the business combination that will maintain national cash markets in their federal structure and offers the greatest benefits and strengthens Frankfurt as a financial centre in the opinion of the market participant groups, intermediaries, investors and issuers represented in the body. The Council will play an active role in the process and ensure that only European regulations will apply for the companies listed on the FWB.

“Global presence is the prerequisite for the transparency, efficiency and attractiveness of the offer. But globalization and local roots are two sides of the same coin. The strength of the Frankfurt Stock Exchange is also based on its firm roots and ties in financial centre Frankfurt. We have to preserve and safeguard these success factors within the larger unit in future too.”