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US: Upstart stock exchange merger threatens NYSE’s top spot

 |  November 3, 2013

As the IntercontinentalExchange moves towards its finalization of the $10 billion buyout of NYSE Euronext, set to complete this week, reports say NYSE – the once epicenter of American companies – is facing the threat of getting knocked from the top spot over the upcoming merger of upstart trading competitors BATS and Direct Edge.

The upstart merger is set to finalize early next year and, according to reports, could launch a competitive war between NYSE and the combined stock exchange for the number-one spot.

Further, reports say, the upstart merger could permanently knock NYSE from the top spot. NYSE currently holds a 22.8 percent market share, but together, BATS and Direct Edge would control up to 20.6 percent.

The future of NYSE now remains in the hands of ICE ahead of the merger completion, according to reports.

Full content: New York Post

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