NYSE Euroenxt (NYX) - about to be acquired by IntercontinentalExchange (ICE) - selects JPMorgan and Soceite Generale to lead the IPO of its European equity operations (Euronext), reports Bloomberg. The sale could come early next year and may raise as much as $1B, though the size has yet to be determined, say sources.
Most key regulators have approved the ICE/NYX merger, but a few EU states are holding out until they know the plans for Euronext.
The IPO would end the marriage of the two major U.S. and European stock exchanges that took place in 2007 when NYSE purchased Euronext for $14.3B.
The approval is nearly the final one necessary for ICE to close its takeover of NYX. The deal awaits a nod from a handful of European agencies, though the European Commission has already given its thumbs up.
In a letter to the SEC, SIFMA argues the self-regulatory model for U.S. stock exchanges including the New York Stock Exchange (NYX, ICE) and the Nasdaq (NDAQ) is outdated.
It's the latest in a battle between brokers and exchanges over stock transaction action.
"In today's markets, securities exchanges and broker-dealer trading venues perform essentially identical functions ... the status of exchanges as SROs has not changed, even as they have evolved from member-owned utilities to for-profit businesses."
Options Clearing Corp. - the world's largest derivative clearinghouse, with NYSE Euronext (NYX) and CBOE between them owning 60% - is in talks with Craig Donohue about hiring him as Chairman, reports Bloomberg.
Current Chairman and CEO Wayne Luthringshausen is retiring at year's end, after which the roles will be split.
OCC clears trades for competitors of CME like NYSE Liffe and ELX Futures.
Donohue left CME a year ago under not ideal circumstances and has a non-compete clause which expires at the end of this year.
NYSE Euronext (NYX +0.8%) CEO Duncan Niederauer says the company's sale to IntercontinentalExchange (ICE +1%) is on track to close this fall after securing a number of key approvals, including one last month from the EU.
The companies await a ruling from the SEC due by August 15.
Analysts expect today's earnings release will be NYSE's last as a standalone company, and NYSE management didn't take questions on the earnings call - deferring those until ICE's August 6 call.
NeoStem (NBS +4.6%) plans to transfer its listing to Nasdaq (NDAQ) from the NYSE (NYX) on August 5. NeoStem believes the move will enhance its exposure, particularly to institutional shareholders, "while at the same time providing investors with the best prices, the fastest execution and lowest cost per trade." (PR)
NYSE Euronext (NYX) is upped to a Buy from Hold at Keefe Bruyette, with price target raised to $49.50 from $45. Intercontinentalexchange (ICE) yesterday disclosed financing obtained should it have to prepay senior notes in connection with the NYSE purchase.
NYSE Euronext (NYX, ICE) gets the nod to try and restore confidence in Libor, winning out over competitors like Bloomberg, the LSE, and Markit the contract to take over setting of the rate. The work was previously handled by the British Bankers Association.
The NYSE (NYX), Nasdaq (NDAQ), and SIFMA are set to ask the SEC to delay (from Aug. 1) the final phase of the limit-up/limit-down program. The rule - set to curb sudden stock swings - has been turned off during the first 15 minutes and last 30 minutes of each trading day, and exchange officials are concerned enabling it in the last half hour could make an orderly close difficult.
As expected, European regulators have green-lighted IntercontinentalExchange's (ICE) purchase of NYSE Euronext (NYX) and the parties now await the "ok" from U.S. regulators (along with a few other players). (PR)
The NYSE (NYX) has gained a major victory over Nasdaq (NDAQ) after Oracle (ORCL) said it would move its listing to the Big Board on July 15. The transfer of what must be one of the most archetypal Nasdaq companies follows similar moves by Infosys and Teva Pharmaceutical last year. Oracle will continue to trade under its current ticker symbol.
IntercontinentalExchange (ICE +1.9%) is set to win unconditional approval from EU regulators for its $8.2B purchase of NYSE Euronext (NYX +1.7%), reports Reuters. ICE actually took care of possible conditions ahead of time, announcing in March it would cap trading fees for 5 years on soft commodities at the Liffe should the merger go through.
NYSE Euronext (NYX) takes a step to get a bigger piece of ETP action, receiving regulatory approval to launch its Traded Product Incentive Program. The move - the first of its kind on U.S. exchanges - is designed to encourage market makers to be the primary market maker in certain ETPs. It's set to begin in 2013 H2. (PR)
Micah+ FollowFollowing- Unfollow|Send Message30 Nov 2011
Added to $SHLD yesterday before the rally and sold some $NYX this morning into the rally
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NYSE Euronext, a Delaware corporation, was organized on May 22, 2006 in anticipation of the combination of the businesses of NYSE Group, Inc., a Delaware corporation, and Euronext N.V., a company organized under the laws of the Netherlands. The combination was consummated on April 4, 2007. NYSE...More