NYSE-ICE Deal Approved by SEC
The SEC's approval, rather than an implicit backing of the deal process itself, is a rubber stamp for the rule changes files by NYSE markets with the regulator, which will see the long-running bourse become a wholly owned subsidiary of the Atlanta-headquartered group.
The proposed rule changes were filed on June 4, 2013, and published in the Federal Register on July 1, 2013 for public comment. After responding to the single public submission on August 8, the SEC has now approved the changes.
"The Commission has reviewed carefully the proposed rule changes, the comment letter, and finds that the proposed rule changes are consistent with the requirements of the [Securities Exchange Act of 1934] and the rules and regulations thereunder applicable to a national securities exchange," says the SEC, in a statement.
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