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.