US Justice Department clears two stock exchange mergers

0 Comments | AFP, November, 2005

WASHINGTON (AFP) — US regulators cleared two mergers involving US stock markets, including the New York Stock Exchange's acquisition of electronic platform Archipelago and a Nasdaq-Instinet tie-up.

The Justice Department said neither deal was likely to harm competition.

"After detailed investigations of the exchange mergers, the Department determined that neither transaction is likely to reduce competition substantially," the antitrust division said in a statement.

"The Department has determined that the imminent entry of these enterprises should result in additional, viable alternatives to the two merged firms sufficient to ensure that the markets remain competitive."

The Nasdaq US electronic stock market announced plans in April to buy the Instinet...