Nasdaq OMX Group and IntercontinentalExchange Inc are not going to walk away from their bid for NYSE Euronext, despite the NYSE board’s rejection of the unsolicited offer, according to people familiar with the matter. Get the full story »
NYSE Euronext
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NYSE rejects takeover proposal from ICE
The board of NYSE Euronext on Sunday unanimously rejected a takeover proposal from IntercontinentalExchange Inc. and Nasdaq OMX Group to break up the company, and reaffirmed its commitment to agreed merger partner Deutsche Boerse AG. Get the full story »
NYSE unswayed by Nasdaq bid
NYSE Euronext believes that any kind of merger with Nasdaq OMX — whether the Big Board were the buyer or the seller — makes little strategic sense, and antitrust regulators would block it, according to a source close to the company.
NYSE board to meet on Nasdaq by April 14
NYSE Euronext’s board of directors plans to meet by April 14 to consider Nasdaq OMX Group’s unsolicited takeover bid, though no firm date has been set, a person familiar with the plan said on Tuesday. Get the full story »
Nasdaq, ICE make rival bid for NYSE Euronext
Nasdaq OMX and IntercontinentalExchange on Friday announced a joint $11.3 billion bid to buy the parent company of the New York Stock Exchange, topping an offer by Germany’s Deutsche Boerse. Get the full story »
BATS to list public shares, challenging NYSE
BATS Global Markets plans to list U.S. public stocks by year end, opening the door for companies to float shares somewhere other than the Big Board or Nasdaq for the first time in years. Get the full story »
ICE: Exchange mergers a consequence of reforms
Mergers sweeping financial exchanges are in part an unintended consequence of global financial regulatory reforms, the head of IntercontinentalExchange Inc. said Wednesday. Get the full story »
Nasdaq faces hurdles in winning NYSE, say experts
Nasdaq OMX Group Inc.’s possible counterbid for NYSE Euronext faces some big hurdles, including funding a complicated deal and convincing Big Board shareholders that it’s better than Deutsche Boerse’s offer, experts said. Get the full story »
Nasdaq bid for NYSE could come this week
Nasdaq OMX Group Inc is preparing an offer for NYSE Euronext and the bid could come as early as this week, the Wall Street Journal reported on Monday, citing people familiar with the matter.
CME to offer margining plan for rates, Treasuries
CME Group Inc. on Monday unveiled a cross-margining plan that would help customers trading both interest rate and Treasury futures, as the world’s largest derivatives exchange prepares for more competition.
The move by the Chicago Mercantile Exchange parent to create a new clearing membership class comes weeks before rival NYSE Euronext is expected to launch a similar cross-margining platform. Get the full story »
CBOE shares up; analyst calls Nasdaq likely suitor
CBOE Holdings Inc. shares jumped Friday after a Credit Suisse analyst called the U.S. options market operator a takeout candidate and fingered Nasdaq OMX Group as its most likely suitor.
“We believe a NDAQ-CBOE combination would have strong strategic merits for both companies,” Howard Chen wrote in a note to clients devoted to an analysis of such a takeover, although no such deal has been announced. Chen raised his rating on the operator of the Chicago Board Options Exchange to “outperform.” Get the full story »
Nasdaq may partner with CME on NYSE bid
Chicago's CME Group offices at 30 S. Wacker Drive in Chicago. (Nancy Stone/Chicago Tribune)
Nasdaq OMX Group could launch a rival bid for NYSE Euronext to avoid being left on the sidelines, a source said, as traditional exchanges race to merge to see off upstart electronic rivals.
This is one option Nasdaq, valued at $5.7 billion, is considering as a spate of deals shakes up an industry under intense cost pressure from new entrants such as BATS Global Markets, which last week snapped up rival Chi-X.
Nasdaq’s alternatives include tying up with IntercontinentalExchange Inc or the Chicago Mercantile Exchange (CME) to wrest NYSE from its planned $10.2 billion takeover by Deutsche Boerse, the source familiar with the matter said. Get the full story »
CME discussed merger with Deutsche Boerse
Exchange giant CME Group Inc. discussed a merger with Deutsche Boerse AG in late 2007, but the two companies couldn’t agree on a price, according to people familiar with the matter.
The aborted talks show how hungry the Chicago company was to combine the biggest derivatives-trading operations in the U.S. and Europe. Even though the discussions fell apart, CME still has ambitions for world-wide dominance in derivatives. Get the full story »
