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And good man in charge the international.
Stock exchange get -- of the New York Stock Exchange just after buying iconic marketplace senior correspondent Charlie Gasparino here now with -- This is new details I can tell you that just about every banker.
Every market because that's in this based on its exchange faces -- lots of activity as we were first report NASDAQ held talks with Carlyle there's a lot of stuff going on in terms of buying and selling.
Merges an accident acquisitions with these people are clearly pointing to the potential and the very real potential that Jeff structure at some point that's the CEOs of the ice.
On loads to cash equities business at the New York stocks -- what is the cash equities -- -- new York stock change.
Has a lot of stuff going on it has life the European derivatives business which is essentially what he has always wanted.
It has data it has communications it also has the cash equities business which is listings of stocks.
And market making this stuff that is decidedly low margin business right now as you know you know.
You list once you pay your fee and you kind of move on you might pay some recurring fees but they're not that -- also.
That market making is gone off exchanges it's gone to the black pools or the dark pools as there are no.
So no I stock trading in New York Stock Exchange now I -- my mind under this is this is what people are saying that scripture is at some point gonna unload this help who really unloaded -- Is the big question a lot of people talking to a consortium of banks the people that actually do provide what order flow -- go to New York Stock Exchange.
Might buy -- now who might again.
I'm getting this from fairly informed sources we should point out that I I press.
The ice stretcher on this they basically said they have no intention.
Of selling it right now.
But I will tell you this a lot of writing on the -- a lot of tea leaf reading going on in the market place.
And they think after some sort of points when you have the staying.
Goes for a year or so it's set to close in I believe the third quarter of this year.
That's -- structure makes his move and it's probably not gonna keep it because it doesn't really fit in with his business model which is an electronic exchange basically.
On high -- matching high margin.
Sort of commodities and other things of that nature competing directly with the Deutsche Boerse and the other thing is he hates being regulated by the Securities and Exchange Commission.
Couple other interest in fact what's going on it closes in the third quarter Duncan Niederauer the CEO the New York Stock Exchange I guess one of the architects the other part of the architect of the deal.
That happened late last year.
Is it verbally committed they're so he said he's gonna stay until 22 -- 2014.
I can tell you.
A lot of people tell me.
That you know when this thing closes look for his exit is well -- there and that might be the beginning of the unravel I mean listen if he is gonna unravel.
Look to see you -- Duncan Niederauer leaves if -- if he keeps it if he really.
If he is what he says he is intent on keeping -- can make it work downsizing may be may be right sizing that business you know cutting the expenses out.
Okay maybe Duncan states but if you see Duncan as a lot of people think he's gonna do -- -- -- there after the deal closes in the third quarter this year soon after that.
And that's a good sign that that the New York Stock Exchange is gonna be further sold the part that we all know the cash equities business.
Charlie many thanks.
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