NYSE’s Owner Exploration of eBay Deal Opens New Era for Exchanges

The parent company of the New York Stock Exchange abandoned its pursuit of eBay days after news of its interest prompted a backlash from investors.

The revelation that the owner of the New York Stock Exchange approached eBay Inc. about a possible takeover–only to dump the idea after an investor backlash–stunned observers on Wall Street and beyond. But it shouldn’t be surprising given the transformation of the exchange business over the past decade. Once focused on running markets, exchange operators such as NYSE parent International Exchange Inc., or ICE, have increasingly evolved into data and technology companies–and the exploration of a deal with eBay suggests executives are intent on further transformation.

Read the full story here: https://www.wsj.com/articles/nyse-owners-exploration-of-ebay-deal-opens-new-era-for-exchanges-11581249601 

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