Nyse Euronext is in talks with banks about selling equity stakes in its US derivatives platforms in a bid to spread costs and increase trading volume, according to Dow Jones Newswires.
Michael Geltzeiler, CFO, Nyse Euronext, told Dow Jones the move is "taken from the playbook" of MTFs like Direct Edge and Bats. Between them, the two newcomers now account for nearly a quarter of US stock trading, thanks in part to volume from banks that hold stakes in them.
Nyse Euronext expects to announce agreements in the third quarter for its Nyse Liffe US futures exchange, helping to spread the cost of building the business. The exchange's CEO Duncan Niederauer says a similar "re-semimutualisation" approach will be taken with its two options platforms.
Yesterday Nyse Euronext reported a second quarter net loss of $182 million - mainly due to a $355 million severance payment made to LCH.Clearnet - and warned of impending job cuts for technology staff.
Nyse Euronext Seeks Bank Backers For Derivatives Platforms - Dow Jones Newswires