The New York Stock Exchange Inc. (NYSE) has closed its acquisition of the National Stock Exchange Inc. (NSX), giving the firm a fourth exchange licence.
The NSX is being renamed NYSE National Inc. after the closing of the deal, the terms of which were not disclosed. The NYSE says that the financial impact of the transaction will not be material.
The acquisition follows the recent unveiling of a new strategy for the NYSE’s equity platforms, including plans to offer trading in all U.S. securities on all of its equities markets.
The plans for NYSE National are not clear at this point. The NYSE says its trading model will be distinct from its three listings exchanges, NYSE, NYSE MKT, and NYSE Arca, which have unique market models designed for corporate and ETF issuers.
“The NYSE will engage with NSX members, buy-side participants and retail brokerage firms before finalizing operational plans for the exchange’s re-launch as NYSE National,” it says.