It's Going To Take Something Really Spectacular To Derail The ICE-NYSE Merger Now


Maybe this is how Gary Gensler goes out with a bang?

The Securities and Exchange Commission approved the IntercontinentalExchange Inc.'s planned takeover of NYSE Euronext, moving the mega-exchange merger one step closer to completion.

The SEC approved the deal in a filing dated Thursday and posted to the SEC's website Friday. Clearance from the SEC is among the last needed for ICE to close its acquisition of NYSE, a tie-up seen creating the world's second-largest exchange operator by market capitalization….

ICE and NYSE have notified the U.S. futures-market regulator, the Commodity Futures Trading Commission, of the planned combination and have received no objection, a person close to the discussions said. A spokesman for the CFTC had no immediate comment. The deal also needs approval from a handful of European market authorities….

The EU took no issue with the ICE-NYSE combination, given the relatively minor overlap between the two companies' marketplaces, and formally approved the deal June 24.

SEC Approves ICE-NYSE Deal [WSJ]


Maybe E*Trade Should Stop Giving Four-Year Contracts To Its CEOs

Like the four who held the job before him since its, er, difficulties began five-and-a-half years ago, Steve Freiberg did not do a particularly good job running E*Trade. But he's been compensated handsomely for facing the wrath of an angry Ken Griffin before getting a pink slip in August.