A regulatory filing revealed the Securities and Exchange Commission gave its approval to IntercontinentalExchange (ICE) to take over NYSE Euronext. The latter operates in the derivatives, cash trading and listings, information technology and technology solutions.
The SEC is required to review and approve these mergers to see if it complies with federal regulations. The US regulator would need to check if firms involved in these exchanges could self-police their markets. Another regulator would review the takeover to check for antitrust issues.
European national regulators will also need to approve the deal before it can close in September. Once completed, ICE would have control over NYSE Liffe. A subsidiary of NYSE Euronext, NYSE Liffe is the second biggest derivatives market in Europe.
Shareholders of NYSE Euronext and the ICE, as well as the European Commission, had already inked the friendly takeover. Based on the August 1 closing price of ICE stocks, the deal is estimated to be worth USD 10.6 billion.
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