Stock exchange merger in Australia

The Australian stock exchange (ASX) and the Sydney Futures Exchange (SFE) have announced their intention to merge. According to the "Australian Financial Review" this will create the ninth largest listed exchange group in the world. ASX chairman Maurice Newman said the merger would have significant benefits for both sets of shareholders and all market participants. SFE chairman Rick Holliday-Smith said the proposed merger was a logical progression. According to the Swiss financial newspaper Neue Zürcher Zeitung the Australian Australian Competition and Consumer Commission (ACCC) viewed the proposed merger as positive in a preliminary statement - this in contrast to a merger proposal which was made by the same exchanges seven years ago.



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