DB NYSE Group may be name for giant exchange: sources

Deutsche Boerse and NYSE Euronext plan to call a combined company DB NYSE Group and will likely sidestep thorny issues of technology in a bid to strike a merger deal by Tuesday, two people close to the negotiations said.

The Frankfurt- and the New York-based exchange operators are edging toward an outline deal to be agreed on Tuesday or Wednesday of next week, one source said on Saturday.

The two Europe-based sources said the sides have still not finalized a merger document that can be presented to Deutsche Boerse’s board of directors, confirming earlier reports.

A third source familiar with the matter, however, said that no name for the combined company had yet been decided — underlining the uncertainty remaining over how exactly the world’s largest exchange operator would be formed.

Decisions over leadership, including the composition of a combined company’s board, have been made, sources said earlier this week.

In their talks, the two sides are hammering out a framework deal which focuses on functions and personalities but key issues, such as over information technology (IT), are likely to be postponed.