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Thu Dec 20, 2012, 09:41 AM

IntercontinentalExchange to buy NYSE for $8.2B

Source: Associated Press

NEW YORK - The New York Stock Exchange (NYX) is being sold to a rival exchange for about $8 billion, ending more than two centuries of independence for the iconic Big Board.

The buyer, IntercontinentalExchange Inc. (ICE), an upstart exchange based in Atlanta, made clear Thursday that little would change for the iconic trading floor in Manhattan's financial district if regulators approve the deal.

There will be dual headquarters in New York and Atlanta and ICE will open an office in Manhattan. NYSE CEO Duncan Niederauer will become president of the combined company and CEO of NYSE Group.

ICE said that the tie-up will create a top exchange operator covering a diverse lineup of markets and boosting efficiency.

Read more: http://www.cbsnews.com/8301-505123_162-57560197/intercontinentalexchange-to-buy-nyse-for-$8.2b/

9 replies, 2184 views

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Reply IntercontinentalExchange to buy NYSE for $8.2B (Original post)
jsr Dec 2012 OP
Sekhmets Daughter Dec 2012 #1
Roy Rolling Dec 2012 #2
Botany Dec 2012 #3
kracer20 Dec 2012 #4
malthaussen Dec 2012 #5
just1voice Dec 2012 #6
sally5050 Dec 2012 #7
defacto7 Dec 2012 #8
7wo7rees Dec 2012 #9

Response to jsr (Original post)

Thu Dec 20, 2012, 09:44 AM

1. Yeah, right. n/t

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Response to Sekhmets Daughter (Reply #1)

Thu Dec 20, 2012, 09:46 AM

2. Ditto n/t

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Response to jsr (Original post)

Thu Dec 20, 2012, 09:47 AM

3. How much cash has been "squirreled away" by corporations and the very rich?

n/t

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Response to jsr (Original post)

Thu Dec 20, 2012, 10:14 AM

4. Forgive my lack of knowledge...

But who owns the NYSE? Is it a group of individuals or companies? Who get the profits for the sale?

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Response to jsr (Original post)

Thu Dec 20, 2012, 11:05 AM

5. Proving, I guess, that brokers really would sell their own mothers. n/t

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Response to jsr (Original post)

Thu Dec 20, 2012, 01:03 PM

6. Financial markets so corrupt nobody even cares

 

Computer trading rules the markets now and the fastest computers win, which are owned by the 1%.

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Response to jsr (Original post)

Thu Dec 20, 2012, 04:04 PM

7. Yeah, but who the heck owns ICE?

 

we'll never know I guess. But it's scary to have a stock exchange in the hands of intercontinental (read greedy global elites) with no regard to US citizen stockholder integrity, etc.

this my friends is the proverbial nail in the coffin.

set your clocks to how quickly another meltdown is mysteriously executed and foisted on the US citizens.

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Response to jsr (Original post)

Thu Dec 20, 2012, 04:31 PM

8. All we need now...

is an even larger centralized conglomerate holding and dealing the investments of corporate America and the world. And it's based in the southern US... a red state.. another privately owned and operated corporation of which we know nothing about it's actual owners and controllers.

We need to watch this one close, as if it matters. Why would NYSE want to sell out? and to whom exactly? Who is the beneficiary?

This is too big and should be investigated.

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Response to defacto7 (Reply #8)

Thu Dec 20, 2012, 10:20 PM

9. And what does this market owe the US economy?

And where's my cut of the $8B?
And who has $8B to begin with?
And what do they plan on selling it for?

This is another reason to divest from the market.

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