NYSE Euronext (NYX), the world’s leading and most diverse exchange group, today completed its acquisition of the American Stock Exchange® (Amex®), becoming the third-largest U.S. options marketplace and enhancing the company’s leadership in ETFs, cash equities, closed-end funds and structured products. The transaction is expected to produce annualized run-rate cost savings in excess of $100 million by the end of 2009 and be accretive to earnings.
Highlights:
- NYSE Euronext becomes third-largest U.S. equity options marketplace
- Advances global leadership in ETFs, cash equities, closed-end funds and structured products
- NYSE Euronext technology infusion to improve operational efficiencies and benefit Amex customers and traders
- Transaction expected to produce annualized run-rate cost savings in excess of $100 million by the end of 2009
For a full link to the press release see here. Amex Equities will be migrated on to the NYSE Trading Platform in the December 1st time frame. For additional integration planning please refer to the following reference materials.
NYSE/Amex Integration – Industry Testing NYSE/Amex Integration – Trading Systems Update NYSE/Amex Integration – Post Trade Update
Category: Connectivity, Operations, Traders
