Newly merged NYSE Euronext becomes the world's largest stock market operator

NYSE Euronext said yesterday that the newly merged stock market operator had a market value of 19.32 billion euros (US$25.81 billion), making it the world's largest listed exchange group, based on a 75-euro opening price for the combined share on Euronext Paris.

"NYSE Euronext is the global leader and we have significant business opportunities ahead of us," John Thain, the group's chief executive officer, said in a statement.

"We have 78 of [the] top 100 largest companies in the world listed on NYSE Euronext markets, and we will continue to expand our global footprint and offer our customers a wider variety of trading products and services," he said.

The new leviathan, which was created in late March, brings markets in New York, Paris, Brussels, Amsterdam and Lisbon under one group and also includes the Liffe financial futures market in London.

NYSE Euronext stock fell in Paris yesterday after the company began trading for the first time.

The shares dipped 1.9 percent to 74.2 euros (US$99.15) from an initial price of 75 euros.

NYSE Euronext, formed by the merger of NYSE Group Inc and Euronext NV, is the first trans-Atlantic stock market.

Euronext NV Chairman Jan-Michiel Hessels said yesterday that the group remained open to a tie-up with Deutsche Boerse AG.

"We had an offer outstanding for them to bring their cash markets into our markets, which would result in a larger, more effective European cash equity market," he said. "The offer is still open, but it's up to them also to react."

Deutsche Boerse's bid for Euronext last year was turned down in favor of the NYSE merger.