It's a New NYSE

NYSE closes Archipelago deal, becomes NYSE Group

"NEW YORK (AP) — The New York Stock Exchange closed its $10 billion acquisition of electronic rival Archipelago Holdings Tuesday, a move that turned the 214-year-old not-for-profit exchange into a publicly traded company with advanced trading technology.

The new NYSE Group Inc. will begin trading Wednesday on the floor of the Big Board under the ticker symbol NYX.

Its new equity, the majority of which is still held by the NYSE's former seat holders, will help the exchange expand into new businesses, such as derivatives trading, and could fund acquisitions as well.

The NYSE and Chicago-based Archipelago will continue to operate separately under the NYSE Group umbrella, at least for a short time.

Eventually, the exchange hopes to allow its floor traders access to the Arca electronic trading platform, which would give them the ability to trade Nasdaq-listed stocks as well as equity options."