Last update: 13-Dec-2013 12:16 am
Friday, December 13, 2013
Trinidad & Tobago Guardian Online
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Stock-exchange rivals in merger talks
NEW YORK—Two electronic stock-exchange companies are in advanced talks on a merger that would create the second-biggest stock market operator in the US, according to a news report. BATS Global Markets and Direct Edge Holdings could announce a combination within days, The Wall Street Journal said Friday, citing unidentified people familiar with the matter. Representatives for the two companies declined to comment when asked about the report by The Associated Press.
A merger of BATS and Direct Edge would create the No 2 US operator, behind New York Stock Exchange owner NYSE Euronext Inc and ahead of Nasdaq OMX Group Inc, the Journal said, accounting for 20 per cent of the market. It would be the latest consolidation in the sector. Futures exchange IntercontinentalExchange wants to buy NYSE Euronext for $8 billion. (AP)
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