Exchanges: Eurex finally gains foothold in US – but where’s the beef?

Derivatives exchange Eurex has finally gained a foothold in the US with its $2.8 billion cash acquisition of electronic options market the International Securities Exchange (ISE) – announced at the end of April. However, some industry observers are questioning the value of the deal. Eurex, which is jointly owned by Deutsche Börse and Swiss Exchange (SWX), will pay $67.50 per ISE share, which amounts to almost 50% more than the company’s market closing price just before the takeover announcement.