Deutsche Boerse AG's (DB1.XE) planned tie-up with U.S. peer NYSE Euronext (NYX) will strengthen Frankfurt and Europe as a financial center, the German exchange operator's chief executive, Reto Francioni, said Monday.

Francioni was speaking at the Frankfurt Euro Finance Week conference.

Later Monday, Deutsche Boerse's supervisory board will discuss proposed remedies to the European Union's formal objections to the planned tie-up with NYSE Euronext, two people familiar with the matter told Dow Jones Newswires.

The remedy proposals from the German exchange operator's management, will have to be approved by Deutsche Boerse's supervisory board prior to the 2300 GMT Nov. 17 deadline when Deutsche Boerse and NYSE Euronext must submit the proposals to the European Commission, the EU's executive arm.

Francioni, in his speech emphasized the advantages of a combination of the two exchange powerhouses for the locations they operate in, and for stakeholders. He added that the planned tie-up --combining the international integration with local presence-- is also a response to structural changes in the industry that is increasingly becoming global.

By Ulrike Dauer, Dow Jones Newswires; +49 69 29725 500; ulrike.dauer@dowjones.com

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