NYSE Euronext, which operates the New York Stock Exchange and other trading venues, on Monday said it completed its acquisition of trading technology provider NYFIX Inc. The $144-million all cash deal, announced in August, valued NYFIX stock at $1.675 per common share. Most of NYFIX's business units will be folded into NYSE Technologies. The combination now provides a link between more than 450 buy-side institutions and more than 600 sell-side institutions, and connections to exchanges and... Read Full Story
LONDON/NEW YORK (Reuters) - Cost-cutting helped NYSE Euronext <NYX.N> <NYX.PA> beat earnings expectations, and the transatlantic exchange operator announced the sale of a big stake in its U.S. derivatives exchange. The parent company of the New York Stock Exchange said underlying costs dropped 10 percent in the third quarter and forecast that expenses this year would be considerably below its previous estimate. Analysts said the European launch of NYSE Liffe Clearing helped drive third... Read Full Story
Leading US group Hyatt Hotels began trading on the stock exchange on Thursday, raising almost a billion dollars with its initial public offering, in the New York bourse's second largest flotation this year. In a massive show of confidence in the US and global economy as it recovers from the worst recession in decades, Hyatt said it was offering 38 million shares at 25 dollars each for a total of 950 million dollars. The Chicago-based group, which is owned 85 percent by the wealthy Pritzker... Read Full Story
NEW YORK (Reuters) - A huge influx of orders prevented the New York Stock Exchange from disseminating quotes shortly after the start of trading on Friday. NYSE Euronext <NYX.N><NYX.PA>, the parent of the New York Stock Exchange, said the delays followed "an inordinate influx" of orders received as Friday's session got under way. Later in the session, the company had to temporarily transfer quote processing to a backup system. The exchange's quote delays caused some tickers to be locked, but... Read Full Story
LONDON (Reuters) - NYSE Euronext <NYX.N> <NYX.PA> said on Friday it is selling a "significant equity interest" in its derivatives exchange NYSE Liffe U.S., as it posted a 28-percent drop in third-quarter earnings. The bourse will remain the biggest shareholder of the U.S. part of NYSE Liffe, it said. NYSE Euronext's third-quarter net income, at $125 million, outperformed market expectations, despite lower overall trading volumes, thanks to NYSE Liffe Clearing revenues and a 10 percent drop... Read Full Story
With federal regulators poised to propose changes for so-called "dark pools," the head of the New York Stock Exchange said tighter rules should be applied to the alternative trading systems that don't publicly provide price quotes and compete with traditional exchanges. The Securities and Exchange Commission is expected to propose new rules on Wednesday that would require fuller display of information on trades, bids and offers for the "dark pool" systems. NYSE CEO Duncan Niederauer and Sen... Read Full Story
Trans-Atlantic stock market operator NYSE Euronext said Friday its net income plunged 28 percent in the third quarter as it cut prices in a bid to counter falling trading volume. NYSE Euronext, the New York headquartered company that runs the New York Stock Exchange as well as bourses in Paris, Amsterdam and Brussels, reported net income fell to $138 million in the third quarter, down from $192 million a year earlier. The company, which also runs London's NYSE Liffe derivatives exchange... Read Full Story
LOWERING THE BAR FOR STOCK LISTINGS
Investors are benefiting from the stock market rally, but the major U.S. exchanges still have little reason to celebrate. Trading volumes are way off their highs, and upstarts continue to steal market share. With revenues slipping, the bourses are scrambling to protect an old-fashioned business: listings and the fees companies pay the exchanges to trade their shares. The NYSE Euronext has been the most aggressive, going so far as to lower the threshold... Read Full Story
NYSE Euronext Inc. said Wednesday that it plans to sell a "significant" stake in its NYSE Amex options unit to seven Wall Street brokers. The trans-Atlantic stock exchange operator said in a statement that it has agreed in principle on a framework with BofA Merrill Lynch, Barclays Capital, Citadel Securities, Citi, Goldman Sachs, TD Ameritrade and UBS to sell part of one of its two U.S. options exchanges. NYSE Euronext would remain the largest shareholder and manage the daily operations... Read Full Story
Jonathan Spicer and Daisy Ku NEW YORK/LONDON (Reuters) - Aggressive cost cutting helped NYSE Euronext <NYX.N><NYX.PA> beat earnings expectations for a second straight quarter Thursday, and the company expects staff reductions to yield more savings. Analysts applauded a surprising 6 percent drop in fixed expenses and word from management that the company could exceed 2009 cost savings targets set only three months ago. "There was a lot of fat to be cut there," said Chris Allan, analyst at... Read Full Story
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