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N-ICE N-ICE Baby: ICE Buys NYSE For $33.12 In $8.2 Billion Deal
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.
That this follows days after yet another mega consolidation, this time one creating a monopolist in the HFT space with the GETCO acquisition of Knight, is also not surprising. Expect more and more forced, unforced, voluntary and otherwise mergers, as trading volume collapse to levels not seen since the mid-1990s. Sadly, there is just not enough money for everyone who continued to expect the 2000s trading volume trendline to continue in perpetuity.
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Ice cubed!
The Careless Whisper Illuminati News Update & Threadjacking
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ok, I am starting to believe that shit now...
So, ICE (aka-Goldman) owns NYSE? This should end well...T
It’s an international banker market; it’s only fitting that the international bankers control the international stock exchange.
Offer valid for the next 17 nanoseconds
HA I called this a decade ago....always too early...sell side bitchez are going down...robots are taking over the world
Would have thought the casino would have gone for a little more.
Speaking of casinios, how about calling it Casino Royale. Maybe a large poster of David Niven in the background.
Pretty close to the price of a 1 oz. silver Eagle. 1:1? No thanks.
Silver is getting ice'd in broad daylight as i type. Christmas sale Bitchez.
Now that the definition of big numbers has been rendered meaningless, it's fairly hard to judge.
Tyler(s),
Your humour has me on the floor laughing sometimes!
DavidC
bonus time
If there is no trading volume on the NYSE and tons of it in dark pools, does that put a hole in the volume thesis?
Pathetic ending after a 200+ years of history.
In other words, another one bites the dust.
The bots are not afraid by this move.
In ten years all of the NYSE will be putting up drywall in FLA just like Vanillia.
MBS = that's precisely what they've been doing, building drywall huts in FLA.
The signs are everywhere these days, aren't they?
Exham Priory
Haven't I been telling you over and over and over and over that NYSE was going out of business due to lack of trading?
EKM do you factor dark pool trading into your thesis?
Lets see..volumes dropping....yeah I would buy it...must be money in manipulation...
Dark Pools are only for institutions. There's no trading for the sake of trading as far as I know.
Institutions make an offer and it stays there until somebody takes it. No HFT in dark pools.
I just can't help but wonder what our economy would be like if all the money invested in the stock market was actually invested in productive businesses.
a man can dream....how do you make that happen and remove the giant sucking sound investments banks take from pensions/investors/insurance?
The NYSE is essentially a podium for bell ringing photo ops and news shots of men in shmantas covering their eyes in front of trading screens.
In a galaxy far far away...
http://www.mtv.com/movies/photos/s/star_wars_nyse_flip/star_wars_nyse_3.jpg
NYSE-Amsterdam has their own opening "Bang The Gong" photo ops. Nice touch...
http://www.youtube.com/watch?v=qSwxpQWE_lo
Ice Capades.
For sale, used stock market. Needs tune-up, new engine, shock absorbers, drive shaft, couple dents, Salvage title. Best offer!
Air bags however are in tip top shape.
NYCE
May I be the first to wish them the worst of luck.
The sad thing is that stock OWNERSHIP should not be a dying thing. What had to die was the growth in stock trading (infinite growth is never sustainable ... and especially growth pulled in from the future). The bankers killed their own industry by killing every ounce of credibility they had by making it totally crooked (they assume people are incapable of learning and that is a bad assumption). The proliferation of non-equity offerings (synthetic instruments, such as ETFs) that have no intrinsic value and the computerized theft were what broke the camel's back. In their greed they murdered themselves.
Bankers have killed their own scams by going way, way, way too far to fleece the public. There needs to be a massive consolidation of bankers and then after that, a consolidation of the parasites that feed off the banking parasites. Just history repeating itself. (We find munch less royalty and royal sycophants these days ... same thing).
First, the unconnected clueless will be cut, then the intelligent and innocent who drive their business. Then they will cut the useless relatives that they have been supporting. Then, when they are all alone, they will die out ... finally and the world can recover from their treachery and evil subterfuge.
... but I ramble.
Lousy Intercontinental Exchange - LICE?
Manipulated Intercontinental Exchange - MICE?
My favourite:
Financial Leeches Exploiting Everyone Continental Exchange - FLEECE
A few years ago our dear commrad Cramer said NYX would head back toward $100. I guess that's not going to happen.
Can't wait until CME's turn comes.
Year-over-year volume trends must be worrysome.
Bulk of their income, other than scraping off exchange fees for "clearing" and other pursuits, is selling the quote data to vendors.
The moment someone invents a scalable decentralized exchange, (a lot closer than you may think), the sooner the middlemen disappear.
Couldn't happen to a better group, honestly.
If it is a dying business, why are they paying 8 billion dollars for it?
Now it's CME's turn. Who's going to buy CME?
Since MFG theft, volume there has gone down the drain.
The death of equities. 1982. The start of the greatest bull market in stocks.
Stock ownership is not a dying thing. Cycles start from a low, reach up to a high and return to a low again, to complete the cycle. Secular bull and bear markets last for a long time. The last secular bear lasted 16 years. We are now at 13 in this cycle.
" (synthetic instruments, such as ETFs) that have no intrinsic value".
What value does a piece of paper have? Any stock certificate is a piece of paper. On Storage Wars, a bunch of stock certificates were found in a locker. The winning bidder on the locker took them in to have them appraised. It rurned out that the companies no longer existed, so the pieces of paper were only worth some sort of collector value.
The Jersee Shore gang ringing the opening Bell doesn't inspire a round of confidence? Tired old Men like Art Cashin roaming around mumbling to themselves? Maria Bartoma.. anything?
Does this mean that all the HFT guys have to move their co-located servers?
http://en.wikipedia.org/wiki/IntercontinentalExchange
An exchange that trades commodities and derivatives buying up the combined, merged tradings exchanges of the NYSE, Amsterdam Stock Exchange, the Brussels Stock Exchange, the Paris Bourse, the London International Financial Futures and Options Exchange and the Portuguese Stock Exchange....(the Euronext of the merged NYSE/Euronext deal back in 2007 http://en.wikipedia.org/wiki/Euronext)
The elite's noose tightens.....