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12/20/12, "ICE Agrees to Buy NYSE Euronext for $8.2 Billion," Bloomberg
"Merging NYSE Euronext, which owns the biggest exchanges by value of
listings in the U.S., France and the Netherlands, with the
second-largest futures market underscores both the growing importance of
derivatives and the diminishing influence of the 220-year-old NYSE. The
Big Board, once the benchmark for global free markets, has seen its
share of trading in stocks listed on the exchange decline to 21 percent
from 82 percent.
“Not only are they losing volume, they’re also
getting squeezed in their margins because of all these competitors who
have different corporate structures,” Thomas Caldwell, who oversees
about $1 billion as chairman and chief executive officer of
Toronto-based Caldwell Securities Ltd., said in a telephone interview.
His firm owns shares of NYSE and ICE. “They’re languishing as
everyone
sits and waits for cash equity volumes to pick up,
which may or may not
occur for several years.”"... via Free Republic
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