Mon, May 2, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

NYSE sells to ICE for $8bn, deal still needs regulatory approval

Thursday, December 27, 2012

Bailey McCann, Opalesque New York: The parent company of the New York Stock Exchange has agreed to sell the exchange to a smaller rival - ICE for $8bn. ICE is based in Atlanta, and is offering a mix of cash and shares to NYSE Euronext,although the deal still needs regulatory approval. According to a report in BBC News if the deal goes forward as currently written ICE will become the third-largest exchange operator in the world.

The offer for the NYSE follows a similar hostile joint bid from ICE and Nasdaq OMX which was blocked by the justice department. This deal signals a coming war for Europe's lucrative derivatives market according to a Reuters account. The deal would give ICE control of commodities and energy on NYSE Liffe, and also gives the firm a significant advantage over Nasdaq OMX and the CME Group in the space. All three companies are working to challenge Deutsche Boerse's control in Europe.

The new derivatives regulations will drive derivatives trades on to clearinghouses and public exchanges - opening up a significant market for exchange operators. With the ICE deal, that company then have a presence in Europe before new regulations take effect, making it harder for companies like CME to gain a strong foothold. Lawyers for the case the sale to move forward given ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n