SEC Greenlights $9B NYSE Merger

Law360, New York (February 28, 2006, 12:00 AM EST) -- The Securities and Exchange Commission has approved the merger of the New York Stock Exchange and Archipelago Holdings, Inc., clearing the way for the exchange to become a for-profit enterprise.

“The NYSE/Archipelago merger will represent the largest-ever among securities exchanges and will combine the world’s leading cash equities market with the first totally open, fully electronic exchange. As merged enterprises, the NYSE and Archipelago will become wholly owned subsidiaries of NYSE Group, Inc., a newly formed, for-profit Delaware corporation that will be a publicly traded company,”...
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