The exchange operator is benefiting from a decision by the European Commission in April to accept accounts prepared according to US Gaap accounting rules, without having to reconcile them under IFRS, a costly exercise.
The EC also plans to recognize the accounts of firms from Canada and Korea by 2011 and is considering extending recognition to the new Chinese accounting rules.
NYSE-Euronext has been quick to exploit the decision, launching a new streamlined process to reduce the complexity US issuers face when cross-listing in Europe. The exchange has also made the process cheaper by charging an admission...
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