4 January 2017

Co-Authors

Anish Puaar

Vice President    

Justin Schack

Managing Director    

Rosenblatt Securities Inc.    
New York +1 212 607 3100    

TRADING TALK
Rosenblatt's Market Structure News Digest (European Edition)

Brussels Narrows LSE-Deutsche Börse Probe to Derivatives Clearing
—Financial Times

Brussels antitrust officials have significantly narrowed the scope of their investigation into the potential merger of the London Stock Exchange Group and Deutsche Börse to focus on whether the deal will block out rivals in derivatives clearing.

Our Take: The European Commission appears to have narrowed its competition concerns about the proposed merger of Deutsche Börse and London Stock Exchange Group. Authorities are now focused particularly on clearing of interest-rate derivatives, with the combination of LCH.Clearnet’s SwapClear (part of LSE) and Deutsche Börse’s Eurex Clearing likely to face the most scrutiny…

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