Eurex favors European consolidation

11 September 2006

The chief executive of Eurex, the world's largest derivatives exchange, has said that he would favor European consolidation of the markets over a transatlantic union, as the Euronext takeover battle continues.

In an interview with the Financial Times, Andreas Preuss argued that there were "strong and convincing advantages" to a merger between European exchanges.

Eurex is jointly owned by the SWX Swiss Exchange and Deutsche Borse – the latter of which has tabled a bid for Euronext in competition with the New York Stock Exchange (NYSE).

However, Mr Preuss said that the successful completion of a deal between Deutsche Borse and Euronext would have no effect on Eurex's own merger plans.

Asia and the US are expected to be the target regions for expansion by the derivatives exchange, with membership in Asia set to increase significantly as the regional markets develop.

Over two-thirds of Eurex's members are already in the US and Canada, although Mr Preuss said that he expected many more to join in the near future.

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