NYX Nyse Euronext

Deutsche Boerse AG (DBOEF, DB1.XE) currently plans "no bold deals," Chief Executive Reto Francioni said Tuesday.

His remarks come two months after the European Union blocked the planned merger of Deutsche Boerse with U.S. peer NYSE Euronext (NYX). Both exchange operators, which pursued tie-up plans for about a year before it was nixed by the EU on antitrust grounds, are now focusing on stand-alone strategies including cost cuts and returning shareholder funds.

Speaking to reporters on the sidelines of a management conference, Francioni also said the German exchange operator, which itself is traded on the German DAX blue-chip index, doesn't plan another listing for its shares elsewhere.

The current trend is to bundle liquidity in a single marketplace rather than spreading it over a number of exchanges, he said.

Francioni also reiterated the exchange's opposition against a financial-transaction tax, which he says lowers liquidity, increases market volatility and drives investments toward less regulated markets. If politicians want to introduce such a tax, for it to be effective, it should be introduced at least in all 27 EU countries and should include unregulated markets, known as over-the-counter, among other criteria, Francioni said.

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

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