With prospects for a tie-up with Deutsche Boerse AG (DB1.XE)
generally seen as dim, the head of NYSE Euronext (NYX) on Friday
said the exchange is "comfortable" with a stand-alone strategy, but
has not given up on a merger deal with the German exchange.
Duncan Niederauer, chief executive at NYSE Euronext, in an
interview on CNBC said he is "very comfortable with the stand-alone
strategy" and cautioned that while industry consolidation is
needed, in the near-term such deals are challenging.
"Consolidation in this industry appears to be challenging in the
near term," Niederauer said, saying it would be more appropriate
for exchanges to look for "bolt-on" deals. Asked about an analyst
suggestion that NYSE Euronext may bid for LCH.Clearnet should the
Deutsche Boerse deal fall through, Niederauer said it would be
"inappropriate" to respond to that talk but that exchanges will be
faced with opportunities in the near term that they should
consider.
As for the tie-up with Deutsche Boerse, Niederauer said he's
"not giving up yet," but acknowledged that "it does appear, that at
least in our case, nationalism and a little bit of protectionism
are winning out."
Neiderauer said NYSE Euronext investors "can expect to hear from
us pretty soon what our capital management approach will
be--stand-alone or as a merged company."
Website: www.cnbc.com
-Dow Jones Newswires; 212-416-2900