NYSE Euronext
| NYSE Euronext Inc.
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|---|---|
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| legal form | Incorporated |
| founding | April 4, 2007 |
| resolution | 20th June 2014 |
| Seat | New York City , United States |
| management | Duncan Niederauer ( CEO ) |
| Number of employees | 3,079 (December 31, 2012) |
| sales | $ 3.749 billion (2012) |
| Branch | Exchanges |
| Website | www.nyx.com |
NYSE Euronext Inc. was a transatlantic exchange operator that was created in 2007 through the merger of the European multi-country exchange Euronext (Euronext N.V.) with the New York Stock Exchange (NYSE Group, Inc.). NYSE Euronext operated the stock exchanges in Amsterdam , Brussels , Lisbon and Paris , the futures market in London , the New York Stock Exchange and the NYSE Amex (formerly American Stock Exchange) in New York and the NYSE Arca in Chicago and San Francisco . NYSE Euronext was most recently a wholly owned subsidiary of IntercontinentalExchange , which reversed the merger of the two companies after the takeover.
history
Creation of NYSE Euronext
In February 2006, Deutsche Börse proposed a “merger among partners” with the four-country exchange Euronext , without adding any details to the offer. After the Euronext Supervisory Board had voted in favor of a merger with the New York Stock Exchange (NYSE), since the offer was more attractive than that of Deutsche Börse, Deutsche Börse submitted a concrete purchase offer for Euronext for the first time in May 2006, the NYSE outperformed. They offered 76.60 euros per euro next-shares, or approximately 8.6 billion euros in cash and shares of the new company. However, Euronext rejected the offer.
On June 2, 2006, Euronext and the NYSE agreed on a merger. Euronext shareholders received 0.98 NYSE shares and an additional 21.32 euros in cash for each Euronext share after approval by the shareholders of both stock exchanges and the regulatory authorities . The merger was finally decided on December 19, 2006 at an extraordinary general meeting of Euronext. The merger on April 4, 2007 created the first transatlantic exchange operator in history. The new company has a market capitalization of around 15 billion US dollars . Euronext NV became a wholly-owned subsidiary of NYSE Euronext, which emerged from the NYSE Group. The Next 150 share index comprises the 150 strongest stocks on these exchanges.
Acquisition of the American Stock Exchange
On January 17, 2008, NYSE Euronext announced the acquisition of the American Stock Exchange (AMEX). Shareholders received shares valued at $ 260 million in the following months. Founded in 1911 and based in New York , AMEX specializes in trading options and listed funds. In 2007 AMEX examined a cooperation or a merger with various exchanges. Deutsche Börse was also discussed as a possible partner or buyer. On October 1, 2008, the purchase was completed and AMEX was renamed NYSE Alternext US . Five months later, on March 6, 2009, the exchange was named NYSE Amex .
Failed merger with Deutsche Börse
On February 9, 2011, Deutsche Börse and NYSE Euronext announced that they were in "advanced merger negotiations". Both companies' shares have been suspended from trading. With the merger, the shareholders of Deutsche Börse AG should get a stake of over 50 percent in the merged company, since the market capitalization of Deutsche Börse at EUR 11.4 billion significantly exceeded that of NYSE Euronext at EUR 6.7 billion.
In the course of 2011, however, concerns about the merger grew, as it could impede competition. The EU Commission's approval of the merger could depend on whether either the NYSE sells its derivatives exchange Liffe or Deutsche Börse sells its counterpart Eurex . In such a case, according to Reto Francioni , CEO of Deutsche Börse, the merger would become significantly less attractive.
On February 1, 2012, the EU Commission refused to approve the merger with Deutsche Börse. Despite concessions from both companies, the assessment was made that the merger would hinder competition to a considerable extent. So the proposed merger had failed.
Takeover by IntercontinentalExchange
On December 20, 2012, IntercontinentalExchange announced the purchase of NYSE Euronext for $ 8.2 billion. That's a price of $ 33.12 per share. The commodity exchange paid for the takeover from a combination of cash and existing loans. The acquisition was completed on November 13, 2013.
Spin-off of Euronext
In mid-November 2013, the spin-off of Euronext with the stock exchanges in Paris, Amsterdam, Brussels and Lisbon was announced for the beginning of 2014, as the European stock exchanges are not viewed as core business by the IntercontinentalExchange . This reversed the 2007 merger of the NYSE with Euronext. Euronext went public on June 20, 2014 on the stock exchanges in Amsterdam, Paris and Brussels; Lisbon followed at a later date. The NYSE and the London futures exchange LIFFE remain the sole property of IntercontinentalExchange.
Trading venues
Stock exchanges and stock indices
The table shows the trading venues and their most important stock indices .
Alternext
Similar to the former German Entry Standard , Alternext is a special Euronext market segment created in May 2005 by Euronext Paris. In terms of the German investment services directive, Alternext is not a regulated market .
Web links
Individual evidence
- ↑ a b NYSE Euronext Inc .: Annual Report 2012. (pdf; 1.2 MB) Retrieved on November 14, 2013 (English).
- ↑ Frankfurter Allgemeine Zeitung: Stock exchange merger: Euronext shareholders keep all options open , from May 24, 2006.
- ↑ Handelsblatt: Troubled Festive Mood , April 4, 2007
- ↑ Handelsblatt: The Octopus from Overseas , December 20, 2006
- ↑ Manager Magazin: Nyse takes over Amex , January 18, 2008
- ↑ NYSE Euronext: NYSE Alternext Coming 4Q08 ( Memento of the original from February 5, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF file; 306 kB)
- ↑ NYSE Euronext: Rebranding of NYSE Alternext US to NYSE Amex ( Memento of the original from March 12, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , dated March 9, 2009
- ^ Financial Times Deutschland: Deutsche Börse and NYSE Euronext before merger ( memento of February 11, 2011 in the Internet Archive ) of February 9, 2011
- ↑ Handelsblatt: Merger of the exchange operators threatens to fail , from December 10, 2011
- ↑ Reuters: EU blocks mega stock exchange merger - "Disappointing day" , February 1, 2012
- ↑ NYSE Euronext: IntercontinentalExchange to Acquire NYSE Euronext For $ 33.12 Per Share in Stock and Cash, Creating Premier Global Market Operator ( Memento of the original dated December 23, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , dated December 20, 2012
- ↑ IntercontinentalExchange: IntercontinentalExchange completes acquisition of NYSE Euronext. November 13, 2013, accessed November 14, 2013 .
- ^ N-TV: New plans for Euronext. May 8, 2014, accessed May 13, 2014 .
- ↑ Ruth David and Francesca Cinelli: ICE prices Euronext shares probably near the lower end of the IPO range. Die Welt, June 19, 2014, accessed June 19, 2014 .
- ↑ Reuters Germany: Poker about the future of Euronext - Deutsche Börse waves it away. November 19, 2013. Retrieved November 19, 2013 .
- ↑ Weitnauer: Admission Requirements for Selected Exchanges (PDF file; 128 kB)
