????此外,，證交所也可以嘗試將這一問(wèn)題政治化,，同時(shí)向各國(guó)部長(zhǎng)施加壓力，迫使他們按照自己的意愿進(jìn)行投票,。據(jù)知情人士透露,，美國(guó)負(fù)責(zé)歐盟事務(wù)的貿(mào)易部長(zhǎng)已經(jīng)前往布魯塞爾，替紐約證交所進(jìn)行游說(shuō),。白宮直接出面呼吁也不無(wú)可能,，而且可能最終改變歐盟委員會(huì)部分委員的立場(chǎng)。此外,，兩家證交所還可以給出理由,，即超大型證券交易所可以形成一個(gè)更加規(guī)范的市場(chǎng)，以應(yīng)對(duì)亞洲監(jiān)管松散的期貨市場(chǎng)不斷加強(qiáng)的沖擊和影響,。

????毋庸置疑,，游說(shuō)工作肯定不會(huì)那么輕松。同時(shí),，兩家證交所還需要防備和應(yīng)對(duì)其強(qiáng)勁對(duì)手——大型銀行的游說(shuō)能力,。銀行控制著資金暗池的影子交易與場(chǎng)外交易，利潤(rùn)豐厚,，因此,，它們并不想將這塊“肥肉”拱手讓給接受政府監(jiān)管的交易所。紐約證交所/德國(guó)證交所規(guī)模更大的期貨平臺(tái)將為用戶帶來(lái)更大的流動(dòng)性,，使更多的投資者放棄影子銀行,，轉(zhuǎn)而選擇交易所。

????兩家證交所可以宣稱(chēng),，給合并投反對(duì)票就是在為銀行撐腰,，從而爭(zhēng)取歐盟各國(guó)部長(zhǎng)中民粹主義者的支持，尤其是在當(dāng)前,，銀行業(yè)在歐洲已經(jīng)失寵,。證券交易所一直在避免與銀行公開(kāi)發(fā)生沖突，因?yàn)殂y行不僅是它們最大的競(jìng)爭(zhēng)對(duì)手,，同時(shí)也是它們最大的客戶,，這真是諷刺之極。因此,，證券交易所在處理這一問(wèn)題時(shí)必須小心謹(jǐn)慎,。

????不過(guò),，紐約證交所的一位官員在接受《財(cái)富》雜志（Fortune）采訪時(shí)表示，只要能夠使合并獲得批準(zhǔn),，兩家證交所愿意接受銀行帶來(lái)的任何后果,。所以，雖然這起合并看起來(lái)已經(jīng)如同拳臺(tái)上被擊倒的拳手,，但現(xiàn)在還不是倒數(shù)計(jì)時(shí)的時(shí)候,。

????譯者：阿龍/汪皓

????The company could also try politicizing the issue as a way to pressure ministers into voting its way. The U.S. trade minister to the EU is already on the ground in Brussels lobbying on the NYSE's behalf, according to a person close to the situation. A call from the White House isn't out of the realm of possibility and could go a long way in changing a few minds on the committee. In addition, company officials could also argue that the massive exchange would create a strong regulated market to counter the growing power of the loosely regulated futures markets in Asia.

????To be sure, this lobbying effort won't be a walk in the park. The company will need to fight against the lobbying power of a formidable opponent - the big banks. The banks control the lucrative shadow trading world of dark pools and OTC trades and are not happy about the possibility of losing that business to a regulated exchange. The larger NYSE/ Deutsche Boerse futures platform would offer customers more liquidity, which could draw investors out of the shadows and onto the exchange.

????Calling a vote against the merger a vote for the banks could help the exchanges gain some populist points with the EU ministers, especially given how terribly out of favor the banks are in Europe at this moment. The exchanges have tried to avoid a messy public conflict with the banks because they're not only their biggest competitors but they are also, ironically, their biggest customers. Exchange officials had to be sensitive when dealing with this issue.

????But an official inside the NYSE tells Fortune that the exchanges are now willing to accept any consequences that may come from the banks if it means getting the merger approved. So while this merger looks like it has been knocked out, don't start counting down just yet.