New York Board of Trade (Nybot) members were preparing to vote on 11 December on the $1bn Intercontinental Exchange (ICE) buyout proposal as some suggested there were questions being raised by permit holders considering suing the exchange for compensation.
The vote would decide the ICE bid that comprises 10.297m shares of ICE common stock and $400m in cash. On consummation of the deal, Nybot would become a wholly-owned subsidiary of ICE.
The deal, which was expected by most traders on the floor to pass, would give ICE a much coveted clearing house of its own along with a diversification of products ranging from coffee, sugar, cocoa and orange juice to financial futures such as the Russell index...