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Commodities upstart ICE in $8bn takeover of New York Stock Exchange $8bln

Posted on 21 December 2012

Two centuries of independence for the New York Stock Exchange are set to come to an end after its operator, NYSE Euronext, agreed to sell itself to Inter-continentalExchange, the commodities-focused markets business, in an $8bn (£5bn) deal.
In all, the combined stock market behemoth will own 14 exchanges, along with five clearing houses, giving ICE the heft to go head to head with larger rivals such as CME, which runs derivatives and futures exchanges in New York and Chicago, and the Frankfurt-based Deutsche Börse, whose own gambit to join forces with NYSE Euronext was thwarted by European competition regulators………………………………………..Full Article: Source


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