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NYSE Euronext to cut costs ahead of ICE sale

Posted on 06 February 2013

NYSE Euronext has pledged to reduce costs further to offset slower trading as it prepares for this year’s planned sale to IntercontinentalExchange (ICE). The global exchange operator reported net quarterly revenue down 11 percent to $562 million on Tuesday and said that it will sell all or part of its 5 percent stake in Mumbai-based commodities market MCX.
“We are focused on building momentum in our business prior to closing the deal with ICE, which we expect in the second half of this year,” NYSE Euronext Chief Executive Duncan Niederauer said………………………………………..Full Article: Source


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