N-ICE (NYSE + ICE)
The IntercontinentalExchange (ICE) arranged to buy the New York Stock Exchange (NYSE) in December 2012. The blog Zero Hedge wrote on December 20, 2012, “N-ICE N-ICE Baby: ICE Buys NYSE For $33.12 In $8.2 Billion Deal”:
“It is unclear if the combined exchange will be called N-ICE.”
On September 20, 2012, Zero Hedge wrote, “the NYSE or N-ICE as it is currently known.” “N-ICE” has not been trademarked and is not an official name.
Wikipedia: New York Stock Exchange
The New York Stock Exchange (NYSE), sometimes known as the “Big Board”, is a stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York, United States. It is by far the world’s largest stock exchange by market capitalization of its listed companies at US$16.613 trillion as of May 2013. Average daily trading value was approximately US$153 billion in 2008.
The NYSE trading floor is located at 11 Wall Street and is composed of four rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978, as was the 11 Wall Street building.
The NYSE is operated by NYSE Euronext (NYSE: NYX), which was formed by the NYSE’s 2007 merger with the fully electronic stock exchange Euronext. In December 2012, it was announced that the company would be sold to Intercontinental Exchange (ICE), a futures exchange headquartered in Atlanta, Georgia, The United States, for $8 billion, a figure that is significantly less than the $11 billion bid for the company tendered in 2011.
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zerohedge
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From NYSE Bourse to N-ICE
5:23 AM - 20 Dec 12
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Jeffrey Cane
@Jeffrey_Cane
NYSE building still gets to be one of 2 headquarters for merged N-ICE. http://dealbook.nytimes.com/ ‘
5:31 AM - 20 Dec 12
Zero Hedge
N-ICE N-ICE Baby: ICE Buys NYSE For $33.12 In $8.2 Billion Deal
Submitted by Tyler Durden on 12/20/2012 09:29 -0400
Just about a year after the failed attemped by the Deutsche Bourse to acquire the NY Stock Exchange, we get a friendly reminder that stock trading is a dying business, and venues that engage in it must consolidate or die. Sure enough, moments ago the Intercontinental Exchange, or ICE, announced it would acquire the NYSE for $33.12 or roughly $8.2 billion in stock and cash.
ICE TO BUY NYSE EURONEXT FOR $33.12-SHR IN STOCK, CASH
ICE PACT IS FOR ABOUT 67% SHRS, 33% CASH
INTERCONTINENTALEXCHANGE TO ACQUIRE NYSE FOR ABOUT $8.2 BLN
ICE TO FUND CASH IN DEAL WITH CASH ON HAND, EXISTING CREDIT
NYSE EURONEXT HOLDERS TO OWN ABOUT 36% OF ICE SHRS POST DEAL
ICE SAYS NIEDERAUER TO BE PRESIDENT COMBINED CO, CEO NYSE GROUP
It is unclear if the combined exchange will be called N-ICE.
Zero Hedge
140 Years Ago Today, The Great Panic Of 1873 Led To The First Market Closure
Submitted by Tyler Durden on 09/20/2013 15:53 -0400
With enough real and electronic ink spilled over the past two weeks to describe every nuance of the Lehman crisis (as if anyone can ever forget those vivid days) that nearly 3 months worth of Treasury issuance could be monetized, we decided to go further back, some 140 years back in fact, to this day in 1873 which just happens to be day the first Great market Panic gripped the US, and resulted in the first ever shutdown of the New York Stock Exchange. Granted, these days the NYSE or N-ICE as it is currently known, and the NASDARK shut down on a daily basis courtesy of a billion collocated vacuum tubes and the rigged casino formerly known as the stock market, on a virtually daily basis.