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NYSE Euronext to sell equity stake in NYSE Amex options market

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NYSE Euronext has agreed in principle on a framework with liquidity providers and market making firms – BofA Merrill Lynch, Barclays Capital, Citadel Securities, Citi, Goldman Sachs, TD

NYSE Euronext has agreed in principle on a framework with liquidity providers and market making firms – BofA Merrill Lynch, Barclays Capital, Citadel Securities, Citi, Goldman Sachs, TD Ameritrade and UBS – to sell a significant equity interest in NYSE Amex options, one of the company’s two US options exchanges. 

NYSE Euronext will remain the largest shareholder in the entity, which aims to enhance the competitive position of NYSE Amex options, while bringing competitive and operational benefits to the marketplace. 
      
The contemplated transaction would call for NYSE Euronext to continue to manage the day-to-day operations of NYSE Amex options, which would operate under the supervision of a separate board of directors and a dedicated chief executive officer. 

The contemplated transaction is subject to the negotiation and execution of final legal documentation and obtaining the requisite regulatory approvals. 

NYSE Euronext anticipates that the transaction could be completed by the end of 2009.

‘This partnership will further align our business interests with those of our customers, and makes NYSE Amex options an even more compelling trading venue within an increasingly competitive marketplace,’ says Duncan L. Niederauer, chief executive officer, NYSE Euronext (pictured). ‘We welcome this shared commitment to deliver the highest levels of innovation and market quality to our options trading platform.’

The contemplated transaction is expected to enable NYSE Amex options to offer customers deep liquidity delivered by many of the world’s leading market makers. NYSE Amex options also anticipates making other services available, including the facilitation of open-outcry orders.

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