NYSE Euronext on Thursday boosted its presence in US derivatives and exchange-traded funds by agreeing to pay $260m (£132m, €178m) to acquire the American Stock Exchange, putting an end to a century-long rivalry.

Coming just weeks into the tenure of Duncan Niederauer as chief executive of NYSE Euronext, the deal shows he intends to follow the lead of his predecessor, John Thain, in pursuing expansion through mergers. The two exchanges have been in talks for months about a combination.