NYSE Sold to ICE

Photo (cc) by rudynorff

The NYSE has been sold to IntercontinentalExchange. (Let’s pronounce the merged company as “Nice Ice.”) CNN Money explains…

Trading stocks has been overshadowed in recent years by the growing importance of derivatives and options. Atlanta-based ICE, which operates commodities and derivatives markets around the world, has a larger market value than NYSE Euronext, even though it is not as well known by the general public.

The combined company will have headquarters in Atlanta as well as New York, and NYSE shareholders will hold slightly more than a third of its stock.

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