BATS Global Markets Inc and Direct Edge Holdings said on Monday they would merge, in a deal that would create the second-largest U.S. stock exchange operator after NYSE Euronext.The stock trading business has been in decline for more than three years, as uncertainty over the global economy pushed retail investors to the sidelines and low market volatility hit volumes. Exchange operators have been looking for new sources of revenue, including in areas of market data and technology.They have also been trying to combine to create scale and take out costs.The deal comes just months after Big Board operator NYSE Euronext agreed to sell itself to IntercontinentalExchange in a deal currently valued at around $10.6 billion, making it a bigger player in the derivatives market, as opposed to the low-margin equity market.
NYSE Euronext is a global operator of financial markets and provider of trading solutions. Shares of NYX fell by 0.02% or $-0.01/share to $42.65. In the past year, the shares have traded as low as $22.25 and as high as $43.25. On average, 1254480 shares of NYX exchange hands on a given day and today's volume is recorded at 435232.
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