United States and European regulators have finalised regulations for the merge between the New York Stock Exchange and Euronext.
The two sides – the US Securities and Exchange Commission and the College of Euronext Regulators – signed a memorandum of understanding agreeing to “collaboration to promote investor protection [and] foster market integrity…in connection with the regulation of the combined group,” according to a statement on the SEC’s Web site.
“The combination of major US and European stock exchanges marks a notable step in the continuing globalization of the world’s capital markets,” says Christopher Cox, the regulator’s chairman, adding the merger is likely to start a trend among the world’s trading platforms. “This arrangement reflects a modern approach to oversight of globally-active institutions and underscores the intent of securities regulators on both sides of the Atlantic to work together to coordinate our supervisory efforts.”