A ten-billion-dollar deal aims to create the world's largest exchange company.
一项价值达100亿美元的交易计划的目的是为了建立全球最大的交易公司。

The plan would combine the operators of the New York Stock Exchange and Germany's Frankfurt Stock Exchange.
该计划将合并纽约证券交易所和德国法兰克福证券交易所的运营商。

The two companies, NYSE Euronext and Deutsche Borse, announced the agreement Tuesday.
纽约证券泛欧交易所和德国证券交易所两家公司周二宣布了这项协议。

Deutsche Borse shareholders would own about 60% of the combined group.
合并后，德国证券交易所的股东们将持有约60%的股份。

One thing it still needs is a name.
新公司尚未命名。

The new company would have headquarters in Frankfurt and New York.
但将分别在法兰克福和纽约设立总部。

The New York Stock Exchange is the world's most famous stock market and a symbol of American capitalism.
纽约证券交易所是世界上最著名的股票市场，也是美国资本主义的象征。

Treasury Secretary Tim Geithner says New York will remain at the heart of the world's financial system for a long time to come.
美国财政部长蒂姆·盖特纳表示，在未来很长一段时间内，纽交所仍将保持其世界金融系统中心地位。

But the exchange business has changed in these days of high-speed trading by computers in a globally connected economy.
但在如今全球相通的经济形势下，高速电脑交易已改变了证券交易业务。

The Big Board now has to compete with smaller exchanges.
如今纽交所必须同小型交易所进行竞争。

Where stocks are traded has become less important than how much those trades cost.
交易地点的重要性已经让位于交易成本的多少。

NYSE Euronext and Deutsche Borse had profits of almost $4.5 billion last year.
纽约证券泛欧交易所和德国证券交易所去年共盈利45亿美元。

They expect to save $400 million a year by combining their operations.
两交易所合并后预期每年将节省4亿美元。

These savings could lower the cost of stock orders.
这笔结余可以降低股票订单成本。

But the size of the company could raise concerns about competition in the exchange industry.
但合并后的公司规模恐引起人们对证券交易业竞争势头的关注。

The new company would also have trading operations in Britain, France and other European countries.
新公司还将在英国、法国等欧洲国家进行业务运营。

Stock trading and other financial services would remain important to the combined company.
合并后公司的业务仍以股票交易及其它金融服务为主。

But much of its income is expected to come from trading complex financial products called derivatives.
但预计其大部分收入都要来源于金融衍生工具（一种复杂的金融产品）交易。

The deal requires approval by American and European officials and by shareholders.
此次交易需得到美欧官员与股东的批准。

Other exchange operators, like the CME Group, could try to offer a higher price for NYSE Euronext.
而包括芝加哥商业交易所集团（CME）在内的其他交易经营者可能会向纽约证券泛欧交易所提供更高的并购价格。

The CME Group, operator of the Chicago Mercantile Exchange, is one of the world's largest traders of derivatives.
芝加哥商业交易所集团经营芝加哥商业交易所，是全球最大的金融衍生品交易商之一。

Duncan Niederauer, chief executive of NYSE Euronext, is expected to keep that job in the new company.
预计纽约证券泛欧交易所首席执行官邓肯·尼德奥尔将在新公司继续担任这一职务。

He says combining with Deutsche Borse will make the company more competitive.
他称，与德交所合并可以让公司更具竞争力。

"This not only creates the world's premier exchange group, but there's a word we all want you to focus on today, and that is diversified.
此举不仅建立了全球第一大交易集团，而且让交易更具多样性——今天我们想让你们聚焦多样性这个词。

This will position us to compete on what is increasing a global landscape in a very competitive industry."
在这样一个竞争激烈的行业，多样性将把我们置于一个日益全球化的范围内进行竞争。

Last week the operators of the London and Toronto stock exchanges announced a deal to combine their companies.
上周，伦敦和多伦多的证券交易运营商宣布了公司合并消息。

And the Singapore Exchange offered in October to merge with Australia's exchange.
去年10月，新加坡交易所也提出要与澳大利亚交易所合并。