Deutsche Boerse AG has been secretly talking to NYSE Euronext about a combination that would create the world’s leading stock exchange, a German weekly reported on Saturday.
Der Spiegel said the two exchanges are considering creating a Netherlands-based holding company that would take over the Frankfurt-based Deutsche Boerse’s shares, which would then be fused with a US-based subsidiary of the holding company.
Deutsche Boerse declined in a statement on Saturday to comment on the report. An NYSE spokesman also declined to comment.
Der Spiegel cited as the basis for its report a Deutsche Bourse “internal paper” to be presented at an exchange meeting today.
The new company would have Deutsche Boerse chief executive Reto Francioni as its chairman, with NYSE’s Duncan Niederauer as head of the board, Der Spiegel said in an advance release of today’s edition.
Trading would be based in New York, while derivatives would remain in Frankfurt, Der Spiegel said.
NYSE Euronext resulted from a US$9.96 billion deal that saw Euronext, which operates the Paris, Amsterdam, Brussels and Lisbon exchanges, combine with the US exchange last year.
Deutsche Boerse had also been courting the company.
NYSE Euronext operates on a single platform where traders can deal in stocks, options, futures, commodities and corporate bonds across two continents — for up to 12 hours daily.