NYSE Joins Forces With Germany's Deutsche Boerse
STEVE INSKKEP, host:
NPR's business news starts with a global merger of stock exchanges.
It's been expected for a while now, it's happened: The New York Stock Exchange is joining forces with Germany's main exchange, known as the Deutsche Boerse.
The parent companies of the two exchanges announced the merger agreement today. The New York Stock Exchange will not change its famous name but if the deal is approved the Wall Street icon will become part of a giant new company that will own exchanges in New York and in several European cities.
Today's move is part of a wave of financial exchange mergers, driven in part by competition from alternative computerized exchanges.
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