ICE Engages SGSS to Manage Post-Merger Share Exchange

IntercontinentalExchange Group (ICE) engaged Societe Generale Securities Services to manage the exchange of securities on the Euroclear Clearing Systems following its merger with NYSE Euronext.

SGSS centralized the withdrawal of all the NYSE Euronext shares, which were listed on the Paris Stock Exchange and held by financial intermediaries on behalf of shareholders. These shares were exchanged against ICE shares and/or cash redemptions, annulling the former shares and creating and admitting the new shares for trading.

The exchange of securities was successfully completed on Nov. 13 2013 and SGSS is now processing all fiscal aspects resulting from the operation. This process includes recuperating the withholding tax that is automatically applied to non-US residents in the United States so that each NYSE Euronext shareholder, under certain conditions and through their financial intermediary, is able to recuperate the amounts, which were deducted, in compliance with Section 302 of the US Act.

SGSS had previously assisted Euronext during its merger with NYSE in 2007.