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Stock exchange sold for $8 billion

Clout of NYSE has dwindled with advanced technology

The facade of the New York Stock Exchange is framed by the NYSE holiday tree on Thursday in New York City.
Photographer: The Associated Press
The facade of the New York Stock Exchange is framed by the NYSE holiday tree on Thursday in New York City.
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The Big Board just isn’t so big anymore. In a deal that highlights the dwindling stature of what was once a centerpiece of capitalism, the New York Stock Exchange is being sold to a little-known rival for $8 billion — $3 billion less than it would have fetched in a proposed takeover just last year. The buyer is IntercontinentalExchange, a 12-year-old exchange headquartered in Atlanta that deals in investing contracts known as futures. Intercontinental Exchange, ...

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