Seth Merrin (pictured), CEO of Liquidnet, comments on reports the European Competition Commissioner, Joaquin Almunia, is to block the planned merger of Deutsche Boerse and NYSE Euronext…

As well as competition issues there’s a feeling from investors that the merger is an answer to a question which they aren’t asking. It looks good for the exchanges but brings nothing to institutional investors. They want greater liquidity and the ability to execute their investment decisions. For that, exchanges need to give their clients access to additional sources of liquidity. They won’t be able to achieve that by merging amongst themselves.