NYSE and Nasdaq Look to Merge Stock Business [REPORT]

FOX Business Network’s (FBN) Senior Correspondent Charlie Gasparino reports that the possible merge between NYSE Euronext (NYSE:NYX) and NASDAQ OMX Group, Inc. (NASDAQ:NDAQ)’s stock business “is going to happen at some point.” Gasparino went on to report, that IntercontinentalExchange Inc (NYSE:ICE) CEO Jeff Speacher “does not like the stock business of The New York Stock Exchange” and that he is looking at a “derivatives portion of that.”

NYSE and Nasdaq Look to Merge Stock Business [REPORT]

Excerpts from the report are below.

On whether The New York Stock Exchange and NASDAQ will merge in the future:

“I’ve been talking to people both at the NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) and at The New York Stock Exchange and these are senior people and I am asking them now, right now, is this thing, you know, merging  – the stock business of The New York Stock Exchange and the NASDAQ stock business, is that something that can’t be done and people would be against. And what was surprising based on my conversations with these senior people is they believe it is going to happen at some point. They believe first off that The New York Stock Exchange the new CEO, is now owned by the ICE, a guy name Jeff Sprecher…who started the IntercontinentalExchange Inc (NYSE:ICE) which is essentially a computerized derivative exchange that he does not like the stock business of The New York Stock Exchange, the thing that we all talk about all the time. What he wants is that they have a derivatives portion of that and that is really what he is looking for. People inside The New York Stock Exchange believe at some point he is going to spin that out and that is when it becomes an issue of can The New York Stock Exchange merge with NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) to create a bigger exchange.”



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