Germany’s financial industry supervisor BaFin has granted approval to plans by Deutsche Börse to merge with NYSE Euronext, Financial Times reports. The regulator has permitted to transfer control of Deutsche Börse and key divisions to a Dutch holding company.
The approval is applicable chiefly to Clearstream, the settlement unit of the German exchange group, and Eurex Clearing, as the central counterparty for the Eurex derivatives exchange. Deutsche Börse also needs clearance from the finance ministry of the German state of Hessen and European Union competition authorities.
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