The New York Stock Exchange and a group of money managers are lobbying U.S. securities regulators to abolish the practice of paying rebates to large brokers to attract trades to stock exchanges and other trading platforms, according to three people familiar with the matter.
IntercontinentalExchange Group Inc. hired Evercore Partners Inc. to help sell some technology businesses it acquired as part of its takeover of New York Stock Exchange owner NYSE Euronext, two people with knowledge of the matter said.
Derivatives clearinghouses owned by CME Group Inc. and Intercontinental Exchange Inc. have been designated systemically important by U.S. regulators, moving them closer to heightened supervision under the Dodd-Frank Act.
Jeffrey Sprecher, who built the second-largest U.S. futures market, will likely focus on reducing costs after acquiring NYSE Euronext even if that means separating the 220-year-old New York Stock Exchange.
ICE Trust U.S. LLC, the world’s largest clearinghouse for credit-default swaps, withdrew its Nov. 12 application to the U.S. Commodity Futures Trading Commission to be registered as a designated clearing organization.
European antitrust regulators have lodged no objections to IntercontinentalExchange Inc.’s takeover of NYSE Euronext as a decision on the transaction approaches, according to a person with direct knowledge of the matter.