As Waiting Period Expires for ICE Acquisition of NYSE, What Will Happen To The Trading Floor?

Category: Markets / Finance / Feb 21, 2013 3:42PM EDT
The IntercontinentalExchange announced on December 20, 2012 that it agreed to acquire NYSE Euronext in a deal that would create one of the largest global exchange groups. IntercontinentalExchange (NYSE: ICE) and NYSE Euronext (NYSE: NYX) said Tuesday that the expiration of the waiting period in connection with the proposed acquisition ended on Friday, February 15 2012, which satisfies one of the regulatory requirements for completion of the merger. The transaction remains subject to additional regulatory requirements with the U.S. Securities and Exchange Commission, including competition approvals in Europe. Merging NYSE Euronext with the second-largest futures market emphasizes the diminishing influence of the 220-year-old New York Stock Exchange as it’s seen its share of trading in stocks listed on the exchange decline to 21 percent from 82 percent in the mid 1980’s; but what will happen to the future of the historic trading floor?