There has been widespread support for the EU's decision to block the NYSE Euronext merger with Deutsche Börse.
Reaction from investors was equally swift with a lift in share price for both exchanges. NYSE Euronext was upgraded by research analysts at RBC Capital and Credit Agricole.
The Association for Financial Markets in Europe said the failure by the exchanges to offer significant concessions had been critical for other exchanges.
Christian Krohn, a managing director at the Association for Financial Market in Europe, said: "AFME has previously stated that...