DEUTSCHE BÖRSE AG AND NYSE EURONEXT CONFIRM SUBMISSION OF REMEDY PROPOSAL

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New York, Frankfurt, November 18, 2011 -- NYSE Euronext (NYSE:NYX) and Deutsche Börse AG (XETRA: DB1) today confirm that they have submitted a remedy proposal to the European Commission’s Directorate-General for Competition (DG Competition). The proposed remedies are designed to address the remaining concerns of DG Competition in derivatives trading and clearing while preserving the compelling industrial logic of the transaction. The remedy proposal aims at eliminating the existing overlap in European single equity derivatives and ensures continued competition in European interest rate and equity index derivatives.

With respect to European single equity derivatives, the notifying parties have proposed to divest the portions of their respective businesses in which they overlap. NYSE Euronext would divest its pan-European single equity derivatives business, including Bclear, except the options businesses in its home markets, where Deutsche Börse would divest its respective business. This remedy addresses DG Competition’s stated concerns in the area of single equity derivatives.

With respect to European interest rate and equity index derivatives, Deutsche Börse and NYSE Euronext propose to grant unprecedented third-party access to Eurex Clearing for derivatives product innovations taking advantage of the merged entity‘s clearing services. The clearing services would be provided on a fair, reasonable and non-discriminatory basis and include cross margining.

Deutsche Börse and NYSE Euronext continue to believe that the transaction will have no detrimental effect on competition, but rather will enhance it by delivering a regulated, stable and transparent European counterweight to established market centers in America and Asia and delivering significant efficiencies to users of our markets.

In accordance with the EU Merger Regulation, the timing of yesterday’s submission will automatically extend DG Competition’s review period by 15 working days. Under the revised timetable, DG Competition is now set to complete its review by January 23, 2012, and the parties would anticipate closing shortly thereafter in early 2012. The Parties look forward to continuing to work with the Commission to successfully complete the transaction.

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About Euronext 
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With close to 2,000 listed issuers and around €5.8 trillion in market capitalisation as of end June 2022, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.  
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