Exchange Mergers on Hold for Now, NYSE CEO Niederauer Tells CNBC

Exchanges around the globe appear to be putting on hold plans to combine, NYSE Euronext Chief Executive Officer Duncan Niederauer, whose deal with Deutsche Boerse (DB1) AG failed this year, said in an interview with CNBC.

“I still think ultimately the destiny for this industry is to have fewer globally integrated exchanges,” he told CNBC today. “That all appears to be on hold for the time being.”

New York-based NYSE Euronext’s plan to merge with Deutsche Boerse of Frankfurt was blocked by European regulators in February on grounds that it would have created a “near monopoly” in European exchange-traded derivatives. The failure came after plans for mergers between Toronto and London, and Australia and Singapore also fell through.

“I don’t know if there’s a lot of cross-border merger activity coming up soon, but I do think it’s inevitable,” Niederauer said today. “I don’t know what role we’ll play in it yet.”

NYSE Euronext (NYX) is among bidders for the London Metal Exchange, according to people with direct knowledge of the matter. LME is the world’s biggest metal market.

To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

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