SEC approves $8 billion sale of NYSE parent to ICE

2013-08-17T00:00:00Z SEC approves $8 billion sale of NYSE parent to ICEThe Associated Press The Associated Press
August 17, 2013 12:00 am  • 

WASHINGTON — U.S. regulators have approved the proposed $8 billion sale of the venerable New York Stock Exchange to a much younger futures exchange. The deal is a symbol of how financial markets are being increasingly reshaped by high technology.

The Securities and Exchange Commission disclosed Friday that it's authorized the takeover of the two-centuries-old NYSE's parent by Atlanta-based IntercontinentalExchange, or ICE. The rival acquiring company, founded in 2000, has expanded rapidly through acquisitions over the past decade.

The SEC said in a filing that it's determined that the merger of the exchanges would comply with securities laws and regulations.

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