NYSE Euronext (NYX) confirmed on Monday that it has received approval from a German regulatory authority for its merger with Deutsche Borse, a step forward in what has been a lengthy European antitrust review.

The confirmation comes after an NYSE senior executive told The Wall Street Journal that no such deal had been struck over the weekend. 

With this approval, we have cleared another significant regulatory hurdle as we continue to make progress on completing the transaction by the end of the year, the company said in a statement.

While NYSE Euronext said BaFin (the German Federal Financial Supervisory Authority)  approved the merger, the transaction remains subject to European Union antitrust and exchange supervisory approval, the biggest hurdle in the merger. 

NYSE Euronext and Deutsche Borse agreed to merge in February and received shareholder approval in July.

Shares of NYSE Euronext fell more than 4% to a 52-week low of $24.40 on the news.

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