& çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð

London, Frankfurt exchanges hope merger to cut costs by £50m
FRANKFURT. J»F 21; The London and Frankfurt stock exchanges said yesterday they expect to cut costs by some 50 million pounds (83 million eu-ros) through their planned merger, forced by London's weak position in the face of competition from electronic dealing systems, reports AFP.
Deutsche Boerse. which operates the Frankfurt market, and the London Stock Exchange published an information document detailing of the proposed merger to create IX
The cost savings from the merger were expected to be made each year from 2002. even If the tie-up costs might he higher than Initially expected
The proposed tie-up was a response to the consolidation
process among European exchanges as demand for equalities bonds and derivatives increased. the prospectus said.
It was also a response to growing deregulation and liberalisation of global capital markets and increased competition from new. electronic exchanges.
IX would become the leading European exchange In terms of volume and value of equity trading, it said.
Headquartered in London, the combination would be a merger of equals, with the capital of IX divided equally between the shareholders 61 the British and German partners.
The London and Frankfurt stock exchanges would continue to exist as wholly-owned sub-
sidiaries of the new company.
The chairman designate of LX and current chairman of the London Stock Exchange. Don Cruickshank, urged LSE members not to vote against the merger, arguing that London would be left behind If they did.
I think there is a dawning realisation that if this merger tlocs not go through then there's a very distinct risk of being left behind." he said
We have got a narrow scope of business. We are not in derivatives. We do not have a third-party technology business and we don’t have much in the wav of an e-commerce business We ate operating in a relatively mature market in the UK compared io other markets in Europe.* he said.
"It would mean heavy investment to get ourselves out of that rather weak position.” Cruickshank said
By joining forces. London and Frankfurt would be able to bring down dealing costs, offer better prices and unprecedented access to a wide range of international Investment opportunities and markets." he argued
"IX will be Europe's largest equities market and the world's leading derivatives exchange, uiib the tiiianci.il stirugih to develop a substantial Information and e-commerce business.
Deutsche Boerse and LSE shareholders were to vote on the merger on September 14.
The alliance would also be open to other European exchanges. Seifert and Cruickshank said.