IntercontinentalExchange (ICE) has agreed an $8.2 billion deal to acquire Nyse Euronext in a stock-and-cash transaction.
This is a major step towards consolidating the market infrastructures and has wide market changing possibilities. Not least it makes the LCH price agreed with the LSE far too high. However it also makes it very important that this deal is completed for both
parties. I dont expect this deal to be last and more consolidation will happen in 2013. If not expect the major global banks to start to enter the post trade clearing game
This sector is rarely boring and over a decade has seen swings and roundabouts as strategies change and markets evolve and struggle and political and regulatory pressure. More to come and what fun!
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