NYSE Euronext and Deutsche Boerse AG Sweeten the Deal with Disinvestments

NYSE Euronext (NYSE:NYX) and Deutsche Boerse AG, major exchange operators planning a merger, have offered to appease EU regulators with more sweeteners by way of disinvestments.

The merger has been facing relentless scrutiny by the European Commission, who is concerned about the clout the merged entity would have over European exchange-based derivatives trading. According to the Federation of European Securities Exchanges, data for the year-to-date shows that Eurex and Liffe accounted for 97% of European stock futures volumes and 93.7% of options volumes. But percentage market shares are a sore point here; according to the exchanges, the vast volumes traded on the OTC market should be included in the ambit of the overall market, thus showing their combined volumes in a much better light, but the EU rejected this premise.

The latest Standard Operating Procedures being offered by the exchanges are a divestment of a London-based part of NYSE Euronext (NYSE:NYX) unit Liffe’s equity derivatives business and offering rivals increased access to their derivatives clearing house. Another proposal is to license the Eurex trading system to a third party.

Will these palliatives be good enough for the EU? We’ll know by February 9, the date the EC is set to complete its review.

Here’s how exchange operators are trading on the news:

NYSE Euronext, Inc. (NYSE:NYX): NYX shares recently traded at $26.78, down $0.16, or 0.59%. They have traded in a 52-week range of $21.80 to $41.60. Volume today was 320,774 shares versus a 3-month average volume of 3,112,690 shares. The company’s trailing P/E is 10.98, while trailing earnings are $2.44 per share. Get the most recent company news and stock data here >>

Nasdaq OMX Group Inc. (NASDAQ:NDAQ): NDAQ shares recently traded at $24.99, up $0.14, or 0.56%. They have traded in a 52-week range of $20.32 to $29.71. Volume today was 55,436 shares versus a 3-month average volume of 2,606,220 shares. The company’s trailing P/E is 10.41, while trailing earnings are $2.40 per share. Get the most recent company news and stock data here >>

CME Group Inc. (NASDAQ:CME): CME shares recently traded at $244.12, up $0.61, or 0.25%. They have traded in a 52-week range of $235.23 to $327.98. Volume today was 28,084 shares versus a 3-month average volume of 702,802 shares. The company’s trailing P/E is 12.94, while trailing earnings are $18.86 per share. Get the most recent company news and stock data here >>

CBOE Holdings, Inc. (NASDAQ:CBOE): CBOE shares recently traded at $26.20, up $0.08, or 0.31%. They have traded in a 52-week range of $21.55 to $29.77. Volume today was 24,278 shares versus a 3-month average volume of 725,642 shares. The company’s trailing P/E is 17.65, while trailing earnings are $1.48 per share. Get the most recent company news and stock data here >>

IntercontinentalExchange, Inc. (NYSE:ICE): ICE shares recently traded at $119.36, down $0.18, or 0.15%. They have traded in a 52-week range of $102.57 to $135.38. Volume today was 46,467 shares versus a 3-month average volume of 749,388 shares. The company’s trailing P/E is 18.34, while trailing earnings are $6.51 per share. Get the most recent company news and stock data here >>