IntercontinentalExchange agreed an $8 billion deal to purchase New York Stock Exchange owner NYSE Euronext on Thursday, propelling the commodities player into European financial futures and L5E8NK7YEhelping it to take on arch rival CME Group.Atlanta-based ICE will look at selling Euronext, NYSE's European stock market businesses, in an initial public offering after the deal closes in the second half of next year.The deal gives a 12-year old start-up ownership of the New York Stock Exchange, an iconic symbol of U.S. capitalism for over 200 years which has been hit by new technology and the rise of private trading venues run by Wall Street banks and brokers."Our transaction is responsive to the evolution of market infrastructure today and offers a range of growth opportunities," ICE Chairman and CEO Jeff Sprecher, who will be chairman and ceo of the combined group, said in a statement.
CME Group Inc. (CME Group) offers a range of global products across all asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. Shares of CME fell by 2.2% or $-1.16/share to $51.47. In the past year, the shares have traded as low as $44.94 and as high as $60.92. On average, 1842100 shares of CME exchange hands on a given day and today's volume is recorded at 3220207.
NYSE Euronext is a global operator of financial markets and provider of trading solutions. Shares of NYX traded higher by 33.43% or $8.04/share to $32.09. In the past year, the shares have traded as low as $22.25 and as high as $31.25. On average, 2618730 shares of NYX exchange hands on a given day and today's volume is recorded at 68088208.
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