The two proposed remedies to alleviate competition concerns in derivatives trading and clearing raised by the impending merger of the companies, while preserving the logic of the transaction.
The exchanges have proposed to divest the portions of their respective businesses in which they overlap.
NYSE Euronext would divest its pan-European single equity derivatives business, including Bclear, except the options businesses in its home markets, where Deutsche Borse would divest its respective business.
With respect to European interest rate and equity index derivatives, the exhanges propose to grant unprecedented third-party access to Eurex Clearing for derivatives product innovations taking advantage of the merged entity’s clearing services.
