NYSE Group
NYSE Group, Inc. () is a for-profit corporation that operates multiple
stock exchanges, most notably the
New York Stock Exchange (the "Big Board") and
NYSE Arca (formerly known as ArcaEx).
NYSE completed its acquisition of Archipelago Holdings via
reverse takeover on
March 7,
2006 in a 10 billion
USD deal to create the NYSE Group. The NYSE Group became a for-profit corporation and began trading publicly on its own stock exchange on
March 8,
2006 under the NYX ticker. Owners of the 1,366 NYSE seats received 80,177 shares of NYSE Group stock plus 300,000 in cash and 70,571 in dividends.
Due to apparent moves by
NASDAQ to acquire the
London Stock Exchange, NYSE Group offered 8 billion euros ($10.2b) in cash and shares for
Euronext on
May 22,
2006, outbidding a rival offer for the European Stock exchange operator from
Germany's
Deutsche Börse, the German stock market.
Contrary to statements that it would not raise its bid, on
May 23,
2006,
Deutsche Börse unveiled a merger bid for Euronext, valuing the pan-European exchange at
US$11 billion (€8.6bn), €600 million over NYSE Group's initial bid.
Despite this, NYSE Group and Euronext penned a merger agreement, subject to shareholder vote and regulatory approval. The initial regulatory response by
SEC chief
Christopher Cox (who was coordinating heavily with European counterparts) was positive, with an expected approval by the end of 2007.
The new firm, tentatively dubbed
NYSE Euronext, would be headquartered in
New York City, with European operations and its trading platform run out of
Paris. NYSE
CEO John Thain, who would head NYSE Euronext, intends to use the combination to form the world's first global stock market, with continuous trading of stocks and derivatives over a 21-hour time span. In addition, the two exchanges hope to add
Borsa Italiana (the Milan stock exchange) into the grouping.
Below is a list of major NYSE Group locations (including Euronext):
*
New York, New York (
NYSE)
*
Chicago, Illinois (
NYSE Arca)
*
London, United Kingdom (
Euronext.liffe)
*
Paris, France (
Euronext Paris)
*
Brussels, Belgium (
Euronext Brussels)
*
Lisbon, Portugal (
Euronext Lisbon)
*
Amsterdam, Netherlands (
Euronext Amsterdam)
*
NYSE Arca*
"NYSE gets final approval to buy Archipelago", Yahoo! news,
2006-02-28*
"NYSE stock soars 25 per cent after it goes public for first time in 214 years", CBC News,
2006-03-08*
"NY Stock Exchange to ring bells as goes public", Reuters,
2006-03-08
