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New York

Merged NYSE would keep 11 Wall as co-HQ

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A $9.5 billion merger of the New York Stock Exchange Euronext and Frankfurt’s Deutsche Boerse would make the iconic 11 Wall Street one of two global headquarters locations for the largest exchange group in the world, GlobeSt.com reported. The deal, which was announced yesterday and still needs approval from regulators, would give Deutsche Boerse majority ownership of the yet-to-be-named company. In a statement, Mayor Michael Bloomberg praised the deal, noting that “with co-headquarters here in New York City, it reaffirms the central position that New York continues to play in the international financial system.” But market observers weren’t so sure. More than 60 percent of those polled online by the Wall Street Journal yesterday said the merger demotes the city from its position as the world’s financial center. [GlobeSt]

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