IntercontinentalExchange Inc. (ICE) completed its roughly $8.2
billion acquisition of New York Stock Exchange parent NYSE Euronext
(NYX), creating a global exchange giant.
With the deal, ICE adds NYSE's London-based futures markets and
its flagship U.S. equities businesses to ICE's portfolio of
energy-focused derivatives markets, and it plans to spin off NYSE's
European stock markets into a new, separate entity.
The company, which will trade under the ticker symbol ICE, will
be dual-headquartered in Atlanta and New York.
IntercontinentalExchange plans to provide more details about its
strategy and financials during a conference call set for Tuesday at
8 a.m. EST.
"This is a game-changing transaction," said ICE Chairman and
Chief Executive Jeffrey C. Sprecher.
On the eve of the deal's closing, Mr. Sprecher said he plans to
reorient the Big Board back toward individuals and away from the
high-frequency traders who play an increasingly large role in the
financial markets.
Also on Tuesday, the biggest U.S. stock-exchange operators said
they plan to propose new rules and measures to improve the
operation of financial markets following a string of high-profile
breakdowns, a response to regulator demands to address the market
failures.
NYSE Euronext's Duncan L. Niederauer will be president of ICE
and chief executive of the NYSE.
IntercontinentalExchange also confirmed its plans to conduct an
initial public offering for the Euronext group of Continental
European exchanges next year, but didn't provide further
details.
Write to Tess Stynes at tess.stynes@wsj.com
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