Boujnah stated that a tie-up between the two exchange operators would make sense to boost liquidity and enhance the competitiveness of European Union capital markets. Euronext operates trading venues in eight countries, including France, the Netherlands, Italy, and Ireland, with a market capitalisation of €16 billion. Deutsche Börse runs the Frankfurt stock exchange, the Eurex derivatives venue, and the Xetra trading system from its headquarters in Frankfurt, carrying a valuation of approximately €50 billion.

Deutsche Börse disputed the prospect of an immediate transaction. Representatives for the German exchange stated that there are no conversations between us and Euronext regarding a possible merger.

The two exchange groups previously attempted to merge in 2012, but European Commission competition regulators blocked the transaction. Any renewed consolidation effort would face complex regulatory hurdles. Germany and France are currently negotiating reforms to shift oversight of major financial entities to the Paris-based European Securities and Markets Authority, though Deutsche Börse is seeking a carveout from that supervision.

Investors responded positively to the prospect of industry consolidation. Following the statements, Deutsche Börse shares rose 2% and Euronext shares increased by 1.33%.