US authorities sign off $10.2bn takeover of the New York Stock Exchange

The Securities and Exchange Commission has approved the $10.2bn takeover of NYSE Euronext - parent company of the New York Stock Exchange, the NYSE Arca platform and the NYSE MKT - by the IntercontinentalExchange (ICE).

This approval is one of the last required before the acquisition can be closed, creating the world’s second largest exchange operator by market capitalisation.

NYSE Euronext and ICE expect the takeover deal to conclude in the autumn.

Seperately, NYSE Euronext won control of the Libor benchmark interest rate in early July, beating off competition from the likes of Markit and a joint bid from the London Stock Exchange and Thomson Reuters.