Ray Pellecchia News
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The world’s biggest clearinghouse for swaps is attracting interest from the world’s highest-profile operators of equities exchanges.
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Deutsche Boerse AG will likely face an in-depth review by European Union antitrust regulators of its $9.53 billion bid for NYSE Euronext , a deal that would create the largest owner of equities and derivatives markets, lawyers said.
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The insider-trading trial of Galleon Group LLC co-founder Raj Rajaratnam next month is the culmination of U.S. investigations dating back 12 years that involved blind alleys, anonymous tips, wiretaps and a trip into the Tamil Tiger underworld before prosecutors got their man, Bloomberg News’ Patricia Hurtado reports.
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NYSE Euronext , the parent company of the New York Stock Exchange, was sued by shareholders seeking to block its planned $9.53 billion sale to Deutsche Boerse AG, a deal that would create the world’s largest owner of equities and derivatives markets.
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Deutsche Boerse AG will probably raise its offer for NYSE Euronext to fend off Nasdaq OMX Group Inc .’s unsolicited bid, according to three shareholders of the biggest U.S. stock exchange operator.
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After four decades promoting the advantages of an all-electronic stock market, Nasdaq OMX Group Inc. may end up owning the world’s most famous trading floor.
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Derivatives are so valuable that Deutsche Boerse AG’s takeover of NYSE Euronext means the combined company may get a stock trading business for free.
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NYSE Euronext , Nasdaq OMX Group Inc . and Bats Global Markets sought permission from regulators yesterday to eliminate stub quotes, or bids and offers as low as pennies or as high as thousands of dollars provided by market makers that were blamed for worsening the May 6 crash.
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Nasdaq OMX Group Inc. , so far absent from the wave of mergers that has swept equity exchanges around the world, may be looking at cost cuts more than expansion in its pursuit of NYSE Euronext.
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Nasdaq OMX Group Inc. is in talks with lenders about funding a possible bid for NYSE Euronext to counter Deutsche Boerse AG ’s more than $9 billion offer for the exchange operator, said two people with knowledge of the matter.
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