The IntercontinentalExchange announced that the U.S. Securities and Exchange Commission has declared effective its registration statement concerning the proposed merger with the New York Board of Trade.

Under the terms of the agreement and plan of merger, the NYBOT has scheduled a special meeting of its members for December 11 to consider approving the transaction. The NYBOT will begin mailing the prospectus/proxy statement to its members today.

Completion of the merger requires the affirmative vote of two-thirds of the votes cast at the special meeting by NYBOT members constituting a quorum. If approved, the ICE says that the transaction will combine the leading electronic energy marketplace and soft commodities exchange in the world.

”NYBOT’s markets will be enhanced by ICE’s leading edge electronic trading platform, and ICE will be able to utilize NYBOT’s commodities clearinghouse,” it noted. Upon closing, NYBOT will become a wholly-owned subsidiary of ICE and will be a for-profit corporation.

“In our pursuit to bring continued innovation and scale to our rapidly growing global commodity marketplace, this acquisition provides mutual benefits of a diverse product offering, technology and additional clearing opportunities to our respective market participants,” said ICE CEO Jeffrey Sprecher. “We believe this transaction will provide a significant platform for future growth and, importantly, represents significant value for our customers and shareholders.”

The NYBOT’s board of governors recommends that NYBOT members vote “for” the approval. The transaction is expected to close in early 2007, pending final regulatory approval from the Commodity Futures Trading Commission and a tax ruling from the Internal Revenue Service.