NYSE to be merged with European SE

Discussion in 'Politics, Religion, Social Issues' started by Squilly, Feb 20, 2013.

  1. macrumors 68020

    Squilly

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  2. eric/, Feb 20, 2013
    Last edited: Feb 20, 2013

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    eric/

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    webbuzz

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    #3
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    Thomas Veil

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    #5
    My first inclination was to doubt this as just another tin foil hat rumor. But upon checking:

    Which jibes pretty much with what Aljazeera says in the OP's link:

    Indeed. Does anyone else get the feeling that these monetary games are being played so far above our heads, and with so little attention from the media, and so little supervision by our esteemed politicians, that events are pretty much out of our control?

    I'd love for someone to tell me that Aljazeera is just being alarmist and this is not as spooky as it sounds. But recent history doesn't imbue me with confidence.
     
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    iStudentUK

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    #6
    The simple matter of fact is that these things are too complex for the average person to understand. Journalists don't really understand it, so how can they report it? The closest you get are the financial papers (the FT etc) but that is still dumbed down and not widely read by those outside banking/finance/law anyway.

    I don't profess to know all about this stuff (I am but a humble corporate lawyer) but the OP's article was cringeworthy and massively dumbed down.

    Even the thread title is misleading, the exchanges aren't merged - two corporations that operate various exchanges merged. NYSE Euronext was formed in 2007 by merger, now there is a deal pending for ICE to buy that corporation. Why is that so scary?
     
  7. thread starter macrumors 68020

    Squilly

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    #7
    There would be no more NYSE....
     
  8. macrumors 6502a

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    #8
    Why the angst?

    NYSE Euronext, Inc. is a multinational securities exchange corporation headquartered in NYC, NY.
    IntercontinentalExchange, Inc. is a multinational commodities exchange corporation headquartered in Atlanta, GA.

    One can say that "the NYSE" doesn't exist today, except in name.

    If the acquisition goes through, there would be a multinational exchange corporation headquartered in Atlanta, GA.

    The acquisition was announced back in December last year.
    http://www.cbsnews.com/8301-505123_162-57560197/intercontinentalexchange-to-buy-nyse-for-$8.2b/

    Nothing to do with any market movements yesterday.
     
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    iStudentUK

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    #9
    Do you mean the stock exchange would cease to exist, or the trading floor? They are two different things. Take the LSE (like the NYSE one of the top three exchanges), it hasn't had a trading floor for a couple of decades - everything is virtual.
     
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    Zombie Acorn

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    #10
    The last time I heard that, the entire world economy was nearly collapsed by those same banking/finance/lawyer types who were the only ones who could understand these "complex" systems.
     
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    iStudentUK

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    #11
    Well maybe I should have said too complex for anyone to understand! :D I'm only half joking...

    There's no realistic way of getting a typical member of the public to either (a) understand the systems involved; or (b) care enough to learn about it.

    I've been 'in the biz' for a couple of years now, and all I've learnt is how little I know. The chances of the average man in the street understanding the complex nature of modern economic markets is pretty much zero.
     

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