The Big Board’s attempt to buy Euronext, the company that owns European stock exchanges, moved one step closer. It’s main competitor, Deutsche Boerse, has dropped out, reports Reuters. Euronext, which runs the Paris, Amsterdam, Brussels and Lisbon stock exchanges, had fought the Frankfurt Exchange operator and wanted to hook up with the New York Stock Exchange.

And that was the decisive factor. Deutsche Boerse took the repeated rejection to heart. "Politicians, stakeholders and regulators across Europe have confirmed their preference for a European solution," the German exchange said in a statement. "Despite this broad support, the Euronext management did not reopen talks with Deutsche Boerse … a combination of exchanges can only be successful if both sides willingly work together.”

And shares in the New York exchange have risen dramatically, indicating that the market thinks its a good move. We can look for more transatlantic dual listings with this deal. And one more sign that the world’s economy is becoming more itegrated.