(Reuters) - In October, Jeff Sprecher, chief execu
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Posted On: 12/20/2012 11:40:07 PM
(Reuters) - In October, Jeff Sprecher, chief executive of upstart IntercontinentalExchange, approached NYSE Euronext CEO Duncan Niederauer with a modest proposal to team up on clearing trades in London. As the men continued talking, Sprecher grew bolder, instead suggesting that ICE buy NYSE in what became an $8.2 billion deal announced on Thursday. The deal will link up two powerful derivatives exchange and clearing house operators, but threatens to further reduce the clout of the New York Stock Exchange. While the New York Stock Exchange has stood for 200 years as an iconic symbol of U.S. ...
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