Philadelphia Stock Exchange (PHLX) seat holders approved a plan for demutualisation last Tuesday, a move that will shift the exchange from a member-owned organisation to a shareholder-owned corporation.
Seat owners voted 330 to 59 in favour of the plan, which now goes before the general membership for a vote on Tuesday. A total of 437 members, some of which are the same seat owners who just voted, will be eligible to cast ballots. A majority is needed...