Chillin' out till it needs to be funded
While the ASX SGX bid has failed as SGX will not be allowed in Australia in control, the Deutsche Borse bid has been trailing the fire from a decade of bids and counter offers. The cash rich CME is safe while NASDAQ OMX, itself not in the “pink” of health has gone after the big board NYSE at $42.50 a share at 20% higher than the German bid and without funding tied up for the purchase. Seemingly ICE (The Inter Continental experiment) will walk away with the Derivatives business of LIFFE in this deal and i can guess the clearing systems would be put for sale etc. Rush hour already, in the first year of post crisis?
We like Reuters Breaking views February opinion on this and the next deal action should be in Asia or on the CME. Please get back to work 😀
Also, the black pools and the high frequency traders are feeling high and looking good! Time for the people at the top to act grouchy about the patriot act and read the fine print that says no economic deals make sense if they cannot hold up the “national” interest