The European Union is reviewing its merger control guidelines in what could become the biggest regulatory change in the region. The draft reform aims to help firms grow large enough to compete globally, especially against major rivals from the US and China.

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According to draft guidelines cited by the Financial Times, the European Commission will place greater emphasis on innovation, investment, and the resilience of the internal market when assessing proposed mergers. It marks a shift from the existing approach, which focuses mainly on how a deal might affect consumers and pricing.

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Indeed, consolidation among the CFD players in the region is picking up pace. Most recently, GBE Brokers agreed to acquire JFD Group’s EU CFD client book and associated funds, in an eight‑figure asset deal.

FX and CFD Consolidation Accelerates

Stepping back to last year, the merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d Read this Term between prop firm FuzeTraders and Kubera Markets shows a different path to scale: pulling a prop trading outfit into the orbit of a CFD broker. Announced around May 2025 and then built out across the year, the deal created a hybrid structure where funded‑trader style prop activity and CFD brokerage live under one, more recognisable umbrella brand.

EU‑facing FX/CFD Brokers Quietly Building “European Champions”

Additionally, Interactive Brokers quietly migrated its EU and Central/Eastern European clients into its Irish entity, turning Ireland into the single booking centre for its FX/CFD and wider multi‑asset offering in the EU.

The groundwork for that consolidation was laid in late 2023, when Interactive Brokers announced it would merge its Hungarian firm IBCE into its Irish unit IBIE and centralize EU operations there. The legal merger, completed in 2024, brought equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term, options, futures, bonds, FX and CFDs for EU clients under a single Irish‑licensed broker, simplifying the group’s structure while preserving its broad multi‑asset scope.

Read more: Interactive Brokers Centralizes European Operations in Ireland amid Expansion

An EU official commented for the FT, saying that the new rules represent an ambitious approach that reflects the realities of increasingly challenging global competition. The guidelines reflect the priorities of the current Commission mandate, more scale and ambition in building globally competitive firms.

Balancing Competitiveness and Consumer Interests

Commission President Ursula von der Leyen has urged regulators to support companies that are trying to expand internationally. The draft notes that the growth and scaling-up of firms can be pro-competitive, suggesting that consolidation may strengthen supply chains and secure critical inputs for production.

Even with those concerns, the guidelines maintain that protecting effective competition remains the primary objective. The reforms call for a broader understanding of what makes markets competitive, especially in sectors where both innovation and scale are vital to success.

The draft text has yet to be finalized, and further debate is expected before formal adoption. If approved, the changes would signal a major policy shift in how Brussels views corporate consolidation within Europe.