New York Stock Exchange CEO Duncan Niederaur Tells Fox Business That He’s “not Going To Get Into The Name Game” Now That The Nyse Euronext (NYSE:NYX) Has Been Acquired By Intercontinentalexchange Inc (NYSE:ICE).
New York Stock Exchange (NYSE) CEO Duncan Niederaur on what the name of the new company will be:
“You have the NYSE brand, you have the ICE brand, you have the Euronext brand. Right now all we’re committing to is all the brands are going to survive, but we’re not going to get into the name game. Everyone should just have a nice holiday and we’ll talk about it next year.”
“I don’t know what the group will be called. We haven’t talked about it yet.”
Niederauer on whether this move signals his exit strategy:
“It’s about shareholder value creation and our parents did teach us if you try something that you thought was a good idea and you fail that doesn’t mean you give up….I’ve committed to stay at least through the end of 2014 and if we are liking working together it will be longer. He is not rushing me to the exit just to be clear and I am not looking for one.”
Sprencher on whether there will still be floor traders now that IntercontinentalExchange Inc (NYSE:ICE) has agreed to buy the Nyse Euronext (NYSE:NYX):
“Absolutely because what these people did here is they prevented flash clashes and they are here at times of emergency. I was one of hundreds of people on the telephone when Hurricane Sandy was coming through and we were all asking what should we do, how should the markets work and everybody turned to Duncan and asked Duncan what are we going to do. In times of stress, this economy turns to the New York Stock Exchange and to the people that are here.”
Niederauer on whether he is committed to keeping traders on the floor:
“My role in the new company will be more focused on this. I will be less spread out because Jeff has a more than capable derivatives team to take care of that piece of it. There will be discussions I am sure about the European exchange assets and if the policy makers in Europe would like to have them back I think we opened the door yesterday to saying that’s their call so that gives me the opportunity to be more focused on the brand.”
Sprencher on whether the headquarters will be in New York or Atlanta:
“We’re going to be in both places and I am going to continue to be behind the scenes.”
Sprencher on whether Niederauer will still be the public face of the company:
“I sure hope so because I am not a particularly good public face and he’s great at it.”
