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SEC Oks ICE's acquisition of NYSE Euronext
Last Updated: 2013-08-17 08:42 | Xinhua
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The U.S. Securities Exchange Commission (SEC) has approved IntercontinentalExchange's (ICE) acquisition of NYSE Euronext, bringing the merger one step closer to completion, according to a filing released by the regulator on Friday.

The SEC said that it approved proposed rule changes relating to the merger of the exchanges, which were consistent with securities laws and regulations.

Shareholders of both companies and the European Commission have also approved the deal, which was currently valued at about 10 billion U.S. dollars.

However, completion of the combination still requires approval from individual country regulators in Europe. The two companies plan to spin off Euronext, NYSE's Continental European stock markets, after the deal is finalized to avoid potential political opposition in Europe.

ICE Chairman and CEO Jeffrey Sprecher said on Aug. 6 that the deal was expected to close this fall.

The ICE, a young futures exchanges based in Atlanta, announced the proposed acquisition of NYSE Euronext in December 2012 to create a global exchange operator across diversified markets, including both stocks and financial derivatives.

Founded in 2000, the ICE has expanded rapidly through acquisitions over the past decade.

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