March 1, 2011 / 4:54 PM / 6 years ago

U.S. won't "lose" NYSE: SEC's Schapiro

2 Min Read

<p>Securities and Exchange Commission Chairman Mary Schapiro answers a question at the Reuters Future Face of Finance Summit in Washington March 1, 2011.Kevin Lamarque</p>

WASHINGTON (Reuters) - Deutsche Boerse AG's (DB1Gn.DE) takeover of NYSE Euronext NYX.N signals the extent of globalization in financial markets and does not mean the United States is ceding the Big Board to a foreign entity, a top U.S. regulator said on Tuesday.

"I don't believe we are losing it," Securities and Exchange Commission Chairman Mary Schapiro told the Reuters Future Face of Finance Summit on Tuesday. "It's already NYSE Euronext, there will still be a dual headquarters in New York, the New York Stock Exchange building, that iconic symbol, will still be there."

Naming a slew of international tie-ups including London Stock Exchange's (LSE.L) planned acquisition of the Toronto Stock Exchange (X.TO), Schapiro said she sees consolidation as a "natural evolution."

The SEC will review the deal, focusing on governance, ownership, and assuring the regulator continues to have access to the people and information it needs to police the market, she said.

"I don't want to comment on what the Commission will or not ultimately do with respect to approval, but I do think it's emblematic of how really global the securities markets have become," she said.

Reporting by Ann Saphir, Sarah Lynch, Rachelle Younglai; Editing by Tim Dobbyn

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