NYSE to buy National Stock Exchange
erms were not disclosed and the financial impact will not be material to ICE.
The transaction is expected to close in the first quarter of 2017, subject to customary regulatory approvals.
As a result, subject to Securities and Exchange Commission (SEC) approval, NSX will continue to operate as a licensed National Market System (NMS) exchange, and no longer has plans to cease trading on December 16 as it previously announced.
The acquisition will also give the NYSE Group an additional U.S. exchange license, bringing its total to four.
NSX will be distinct from NYSE's three listings exchanges - NYSE, NYSE MKT and NYSE Arca Equities - which have unique market models designed for corporate and ETP issuers. ■