Monday, February 21, 2011

NASDAQ and ICE discuss about joint bid for NYSE Euronext

Submitted by Upneet Sandhu on Mon, 02/21/2011 - 17:36 Finance Sector


It now seems to be a less probable to get the merger done between the ICE: 127.22, 0.00, 0.00% (Intercontinental Exchange Incorporation) and the NASDAQ: 29.07, 0.00, 0.00% i. e. the NASDAQ OMX Group. However the bid for NYSE Euronext cannot be fully considered as closed because there are still discussions being held about the combined bid made for NYSE.

Earlier in this weekend Fox business has come to know about from some sources that the Intercontinental Exchange Incorporation (ICE) did not want to be controlled or regulated by the Securities & Exchange Commission. It was assumed by the ICE and also NASDAQ that in order to wrest the NYSE Euronext from the Deutsche Boerse they will have to pay an amount of money of near about 11 billion dollars.

Last week the Deutsche Boerse had agreed to obtain the Big Board. It has been determined by the ICE as well as NASDAQ that the antitrust issues would not act as barrier. NASDAQ is determined to take on the stock listings of the New York Stock Exchange (NYSE). It has been known that the Deutsche Boerse is willing for the merger with the NYSE Euronext. They have agreed to merge with plans of forming a Trans Atlantic exchange. The major hubs of the company will be at Frankfurt and New York. This deal which is soon expected to be a reality has created a fever of merger among the other major stock exchanges of the world. There have been discussions going on between the ICE and the Nasdaq OMX regarding the rival bid for NYSE.

According to some sources the ICE and NASDAQ are assumed to be making a move in the next five to seven days. In the mean time it has been known that the Bats Global Market has decided to obtain the Chi – X Europe. In other words this deal means the combing of the trading operations of Europe and the United States.
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