The proposed merger of NYSE Euronext (NYX) and Deutsche Boerse (DB1.XE) is the latest chapter in the iconic trading floor's evolution to stay competitive in global markets, executives involved in the merger plan to tell lawmakers Monday.

"Our proposed merger is simply a continued reflection of how we must adapt and change in order to remain a leader among exchanges, a fierce competitor that services the needs of its clients and an advocate for transparency and fair play," NYSE Euronext Chief Operating Officer Larry Leibowitz said in testimony prepared for a congressional hearing.

Without "diversifying and globalizing," NYSE would be "doomed to become a charming but irrelevant anachronism," Leibowitz said.

Leibowitz will testify before a House Judiciary subcommittee on the merger. International Securities Exchange Chief Executive Gary Katz is also scheduled to testify.

-By Jamila Trindle, Dow Jones Newswires; 202-862-6684; jamila.trindle@dowjones.com

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