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Stock Market & Financial Investment News

News Breaks
December 21, 2012
12:59 EDTNYX, ICEICE to pay NYSE $750M if merger fails to gain antitrust clearance
In an SEC filing earlier this morning, potential penalties and other stipulations for both parties in the proposed IntercontinentalExchange (ICE) and NYSE Euronext (NYX) merger were outlined. Under the merger agreement, neither NYSE Euronext nor ICE may solicit competing proposals or, subject to exceptions that permit their respective boards of directors to take actions required by their fiduciary duties, participate in any discussions or negotiations regarding alternative business combination transactions. Either NYSE Euronext or ICE may terminate the merger agreement under certain specified circumstances, including if its respective board of directors determines in good faith that it has received a “superior proposal," and the party that is not entering into the superior proposal will be entitled to a fee of $300M. In addition, in the event that either the NYSE Euronext board or the ICE board changes it recommendation under the terms of the merger agreement other than for a superior proposal, then the party changing its recommendation must pay the other $450M. In the case of a failure to obtain required antitrust clearances or regulatory approval prior to the termination date and subject to certain other conditions, the merger agreement provides for ICE to pay NYSE Euronext a $750M fee upon termination.
News For ICE;NYX From The Last 14 Days
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April 17, 2015
06:09 EDTICEBATS seeks to gain maket share in options trading, ETFs, WSJ reports
BATS Global Markets (BATS) is planning to launch an options market, EDGX Options, in November, which will compete directly with options exchanges run by Nasdaq OMX Group (NDAQ) and International Securities Exchange, The Wall Street Journal reports. In other BATS moves, the stock exchange operator has hired Laura Morrison, a senior NYSE (ICE) officer to run its global exchange-traded funds business. Reference Link
April 16, 2015
11:29 EDTICEIntercontinentalExchange says ICE brent crude futures make open interest record
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April 13, 2015
16:18 EDTICEeBay announces executive appointments ahead of PayPal separation
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April 6, 2015
08:32 EDTICEIntercontinentalExchange reports March exchange traded volume
Intercontinental Exchange reported March exchange traded volume. ICE’s March 2015 futures and options average daily volume declined 7% compared to March 2014. Commodity ADV increased 13% led by Brent, Gasoil, Other Oil and Nat Gas up 28%, 8%, 32%, and 9% respectively, from the prior March. Financials ADV declined 22% from the previous March primarily due to continued low volatility in Continental European short-term interest rates and single stock equities, partially offset by a 9% and 6% increase in Sterling and Gilt ADV, respectively. ADV for NYSE’s U.S. cash equities increased 6%, while U.S. equity options ADV declined 32% over the prior March. NYSE’s U.S. cash equities market share was 24.4% and NYSE’s U.S. options market share was 17.9%.

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