Yesterday the EU Commission formally rejected the proposed merger of Germany's Deutsche Borse and NYSE Euronext, the owner of the iconic New York Stock Exchange, almost exactly one year after it was announced. Had it been allowed, the merger would have created the world's largest market for financial derivatives. The proposed merger would have been more of an acquisition of NYSE Euronext by Deutsche Borse (DB), with 60 percent of the stock of the combined corporation going to current DB stockholders and 40 percent going to NYSE stockholders. The merger was valued at something near $17 billion. The rejection did not generate much fanfare since it had been well signaled in advance.Reportedly, all 27 EU commissioners agreed with the EU's Com...