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Two of the world’s leading stock exchange operators, NYSE Euronext, which owned and operated the iconic New York Stock Exchange (NYSE) in the US, and Deutsche Borse (DB), which owned and operated the Frankfurt Stock Exchange in Germany, entered into an agreement in February 2011 to merge in a $10 billion deal. The merger that would create the world’s largest stock exchange with an annual trading volume of more than $20 trillion was seen as a strategic move by the two giant exchange operators to survive and grow in an increasingly competitive stock exchange business. According to the merger agreement, DB and NYSE would own 60% and 40% respectively of the merged entity, which would be incorporated in the Netherlands and have its headquarters in both New York and Frankfurt. The merger plan gave rise to some major issues and concerns. The transnational nature of the merger attracted political interference, especially since the NYSE, which would have the lower ownership of the merged entity, was seen as a symbol of American capitalism. There was a question mark over whether a global stock exchange - a key promotional plank of the merger - could actually be created. Anti-trust questions also arose as there was apprehension that the merged entity would dominate European derivatives trading with an over 90% market share. The case study provides a background on the stock exchange business, the NYSE Euronext, and Deutsche Borse, and discusses the merger plan of NYSE Euronext and Deutsche Borse and the issues and concerns arising from it.