ICE Completes Deal for NYSE Euronext

IntercontinentalExchange Inc. (ICE) completed its roughly $8.2 billion acquisition of New York Stock Exchange parent NYSE Euronext (NYX), creating a global exchange giant.

With the deal, ICE adds NYSE's London-based futures markets and its flagship U.S. equities businesses to ICE's portfolio of energy-focused derivatives markets, and it plans to spin off NYSE's European stock markets into a new, separate entity.

The company, which will trade under the ticker symbol ICE, will be dual-headquartered in Atlanta and New York.

IntercontinentalExchange plans to provide more details about its strategy and financials during a conference call set for Tuesday at 8 a.m. EST.

"This is a game-changing transaction," said ICE Chairman and Chief Executive Jeffrey C. Sprecher.

On the eve of the deal's closing, Mr. Sprecher said he plans to reorient the Big Board back toward individuals and away from the high-frequency traders who play an increasingly large role in the financial markets.

Also on Tuesday, the biggest U.S. stock-exchange operators said they plan to propose new rules and measures to improve the operation of financial markets following a string of high-profile breakdowns, a response to regulator demands to address the market failures.

NYSE Euronext's Duncan L. Niederauer will be president of ICE and chief executive of the NYSE.

IntercontinentalExchange also confirmed its plans to conduct an initial public offering for the Euronext group of Continental European exchanges next year, but didn't provide further details.

Write to Tess Stynes at [e-mail]

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