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Germany's Deutsche Börse said Tuesday it will sue the European Union's competition regulator over its decision to block the company's $10 billion merger with NYSE Euronext.
The merger of Deutsche Börse and NYSE would have created the world's largest financial exchange operator but the Commission blocked the deal on February 1.
It argued that the combination of Deutsche Börse's Eurex and NYSE's Liffe derivatives exchanges would have given the company a dominant position in the market for exchange-traded derivatives. Derivatives are complex financial products that allow investors to bet on changes in the price of financial instruments, such as oil, interest rates or stock indexes.
Officials from the companies have said in the past that the regulator should have used a broader definition of the derivatives market for its decision.