The owner of the New York Stock Exchange, whose trading floor helped fuel Warren Buffett’s fortune and financed industries from shipping to semiconductors, is about to be bought by a 12-year-old energy market operator founded with money from a legal settlement.
IntercontinentalExchange Inc., the 12-year-old energy and commodity futures bourse, agreed to acquire NYSE Euronext for cash and stock worth $8.2 billion, moving to take control of the world’s biggest equities market.
The name on the building will remain and the opening bell will continue to ring every trading day. But an era is about to end, sadly, with the agreement by the New York Stock Exchange to sell itself to IntercontinentalExchange Inc.
NYSE Euronext , the biggest operator of U.S. equity exchanges, must expand into Asia after agreeing to be purchased by Frankfurt-based Deutsche Boerse AG , said Richard Grasso , the former chairman and chief executive officer of the New York Stock Exchange.
June 21 (Bloomberg) -- Richard Grasso, former chairman and chief executive officer of the New York Stock Exchange, talks about Republican presidential candidate Mitt Romney. Grasso, speaking with Betty Liu on Bloomberg Television's "In the Loop," also discusses high-frequency trading and regulatory oversight of exchanges. (Source: Bloomberg)
Goldman Sachs Group Inc. has signaled it will fight a U.S. lawsuit over subprime mortgage instruments the same way Bank of America Corp.’s Merrill Lynch unit and UBS AG have challenged similar claims -- by invoking the concept of caveat emptor: Latin for buyer beware.