Intercontinental Exchange Plans to Sell NYSE Equities Unit

Intercontinental Exchange Plans to Sell NYSE Equities Unit

IntercontinentalExchange Inc (NYSE:ICE) founder and CEO Jeffrey Sprecher plans to unload “the cash equity business at the New York Stock Exchange (NYSE)” according to an exclusive report from FOX Business Network (FBN) Senior Correspondent Charlie Gasparino. Gasparino further reported that while NYSE Euronext (NYSE:NYX) CEO Duncan Niederauer has committed to stay on through 2014, “look for his exit” following the sale.

Video and highlights below:

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On whether IntercontinentalExchange Inc (NYSE:ICE) CEO Jeffrey Sprecher will unload the cash equity business at the New York Stock Exchange:

“There’s a lot of stuff going on here in terms of buying and selling Mergers and Acquisitions, but these people are clearly pointing to the very real potential that Jeff Sprecher at some point – that’s the CEO of the ICE unloads the cash equity business at the NYSE Euronext (NYSE:NYX).”

 

On potential buyers of the NYSE Euronext (NYSE:NYX) cash equity business:

“Now who would he unload it to is the big question. Now a lot of people are talking, a consortium of banks – people that actually do provide what order flow does go to the New York Stock Exchange, might buy that. Again I am getting this from fairly informed sources. We should point out that I have pressed the IntercontinentalExchange and Sprecher on this and they basically said they have no intention of selling it right now, but I will tell you there’s a lot of writing on the wall.”

 

On whether NYSE CEO Duncan Niederauer will stay through 2014:

“He’s verbally committed, he’s said he is going to stay until through 2014. I can tell you a lot of people tell me that when this thing closes look for his exit as well – out of there. And that might be the beginning of the unravel.”