NYX Nyse Euronext

The U.S. Justice Department on Thursday gave antitrust clearance to the merger of NYSE Euronext (NYX) and Deutsche Boerse AG (DBOEF, DB1.XE), but said a Deutsche Boerse subsidiary must sell its stake in Direct Edge Holdings LLC.

The parties have agreed to a proposed settlement, filed in a Washington federal court, that addresses the Justice Department's concerns.

The department said the transaction as originally proposed would have lessened competition for equities trading services, listing services and real-time data products in the U.S.

The settlement requires Deutsche Boerse subsidiary International Securities Exchange Holdings Inc. to sell its 31.5% stake in Direct Edge, the fourth-largest stock-exchange operator in the U.S., within two years.

"The remedy ensures that participants in the markets for U.S. equities exchange products and services will continue to receive the full benefits of robust competition in the form of competitive prices and increased innovation," Sharis Pozen, the Justice Department's acting antitrust chief, said in a statement.

Duncan Niederauer, Chief Executive of NYSE Euronext, called the U.S. antitrust clearance "an important milestone on our path to completing our compelling Trans-Atlantic combination."

Deutsche Boerse also issued a statement that described the Justice Department move an important milestone.

ISE and Direct Edge had no immediate comment on the announcement.

-By Brent Kendall, Dow Jones Newswires; 202-862-9222; brent.kendall@dowjones.com

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