纽约证交所与泛欧证交所合并的法律问题探析

Legal Issues of the Merger of New York Stock Exchange and Euronext

纽约证交所和泛欧证交所的合并创造了跨越大西洋的股票及衍生品市场的第一次连接,把全球化交易所的合并推向了高潮,无疑具有典型的代表意义。二者的合并将会产生很大的协力优势,但共同的交易平台的发展可能会受其不同的交易系统和交易规则的限制,而一个有效的打破这种限制的办法就是对外国交易所的准入。

The merger of New York Stock Exchange and Euronext creates the first trans-Atlantic linkup of stock and derivatives markets,which is a typical representative in the exchange merging wave.Huge synergies will be made in the NYSE-Euronext combination,but the different trading systems and regulations may impede the development of a common trading platform.A persistent idea for cutting through the regulatory red tape is foreign exchange access.