SEC Approves NYSE-ICE Merger

The SEC has approved the acquisition of the NYSE Euronext by the InterContinentalExchange (ICE), ruling that the deal does not violate the Securities Exchange Act of 1934.

“A core aspect of the structure of the Combination is that it would maintain local regulation of the marketplace, members, and issuers. Therefore, securities exchanges, members, and issuers of the U.S. Regulated Subsidiaries will continue to be regulated in the same manner as they are currently regulated,” the SEC said in its filing on the approval.

The two exchanges agreed to the over $8 billion deal in December 2012, and the European Commission approved the merger in June. The final steps to complete the deal include approval from a few other regulators in Europe such as the Euronext College of Regulators.