A New York state judge has approved an earlier settlement between the NYSE and several disgruntled seatholders, clearing the way for tomorrow’s merger vote.

A settlement was reached in late November, with Citigroup producing a fairness opinion on the NYSE’s proposed deal with Archipelago Holdings Inc. A judge has now approved that deal, which will be voted on by NYSE members tomorrow.

“The New York Stock Exchange is pleased with the resolution of this matter. Our board of directors and John Thain [NYSE CEO] wish to thank the overwhelming majority of our members who supported the NYSE position and look forward to tomorrow’s vote on the merger, which is an important historic event for the exchange and America’s capital markets,” it said in a statement

The enthusiasm for the deal is reflected in the fact that seats on the exchange are now selling for US$4 million, a record high. A regular seat sold on the NYSE today for US$4 million, which is unchanged from the last regular seat sale on December 2. The market is now bid at US$3.85 million and offered at US$4.375 million.

Last January, before the exchange made its historic deal with Archipelago, seat prices dipped below the US$1 million mark.