Deutsche Boerse and the London Stock Exchange said Wednesday that their planned merger could bring 450 million euros ($500 million) in cost savings, partly owing to substantial job layoffs.

"The boards believe that in order to achieve the ... cost synergies in the third year after completion (of the merger), there could be an overall potential job reduction of approximately 1,250 existing roles across the combined group," it said in a prospectus recommending the tie-up.