Tue, Aug 4, 2015
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. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  2. Activist News - Celgene says patent-fighting hedge fund manager wants to short its shares[more]

    From Reuters.com: Celgene Corp, one of the world's largest biotechnology companies, has accused U.S. hedge fund manager Kyle Bass of attempting to profit from his attempts to wipe out several major drug patents through his Coalition for Affordable Drugs. The company asked the U.S. Patent and T

  3. Einhorn's Greenlight Capital hedge fund slumps 6.1 percent in July[more]

    From Reuters/Thefiscaltimes.com: Hedge fund mogul David Einhorn's Greenlight Capital slumped 6.1 percent in July and is now down 9 percent for the year after gold, one of the fund's top holdings, tumbled to five-year lows last week. Greenlight notified clients of its returns late on Friday, ac

  4. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

  5. Cargill’s Black River Asset to shut down four hedge funds[more]

    Komfie Manalo, Opalesque Asia: Cargill Inc.’s $7.4 billion Black River Asset Management said it was closing four hedge funds with a combined $ 1 billion in assets and start returning investors money over the next several months, various media said. The hedge funds represent 15% of Black River’

 

banner