NYSE Euronext has signed a binding agreement with several banks and liquidity providers that include Citadel Securities, GETCO, Goldman Sachs, Morgan Stanley and UBS, to sell a significant equity interest in NYSE Liffe US, the US futures exchange of NYSE Euronext. However, the NYSE Euronext will remain the largest shareholder in the entity.
NYSE Euronext said that it will continue to manage the day-to-day operations of NYSE Liffe US, which will operate under the supervision of a separate board of directors, chaired by Jim McNulty and CEO Thomas Callahan.
Duncan Niederauer, CEO of NYSE Euronext, said: “This partnership further demonstrates the commitment of NYSE Euronext to create exceptional value through innovation both for and with our customers. The announcement marks an important step in achieving our goal of establishing NYSE Liffe US as a highly competitive, global multi-asset exchange.”
Mr. Callahan said: “NYSE Liffe US will effectively compete in the US futures market by delivering innovative products and services, and by leveraging the market leading technology of NYSE Euronext. I am thrilled that this group of distinguished market leaders shares our vision for innovation and efficiency, and we look forward to working with them to accelerate the growth of NYSE Liffe US.”
The transaction is expected to close shortly, and it is subject to regulatory review.
