NYSE sold for $8.2B to firm in Atlanta
The floor of the New York Stock Exchange (NYSE). (Getty) Credit: The floor of the New York Stock Exchange (NYSE). (Getty)
In October, Jeff Sprecher, chief executive of IntercontinentalExchange, approached NYSE Euronext CEO Duncan Niederauer about teaming up on clearing trades in London.
But Sprecher lated suggested ICE buy NYSE, in what became an $8.2 billion deal announced Thursday.
The deal will link up two powerful derivatives exchange and clearing house operators, but threatens to further reduce the clout of the New York Stock Exchange, which has stood for 200 years as an iconic symbol of U.S. capitalism.
For ICE, the crown jewel of NYSE Euronext is Liffe, Europe's second-largest derivatives market, analysts said.
Sarra Sounds Off, Ep. 15: LI's top basketball players On the latest episode of "Sarra Sounds Off," Newsday's Gregg Sarra and Matt Lindsay take a look top boys and girls basketball players on Long Island.
Sarra Sounds Off, Ep. 15: LI's top basketball players On the latest episode of "Sarra Sounds Off," Newsday's Gregg Sarra and Matt Lindsay take a look top boys and girls basketball players on Long Island.
