Another article about ICE (owner of the NYSE) buying the CSX. An interesting tidbit at the bottom of the article, in bold:
Source:
http://www.chicagobusiness.com/artic...stock-exchange
Quote:
A higher price offered by NYSE might also be justified because buying a stock exchange license is faster than attaining government approval for a new one, Herron said. The premium could also help fend off rival offers.
Also, the Bitcoin craze has driven interest in acquiring exchange licenses that could be potentially converted into trading of cryptocurrencies. The trend has sparked entrepreneurial initiatives, especially among Chicago's experienced derivatives traders and their firms.
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This is all entirely speculation t this point, but it is interesting to consider. The CSX accounts for half of one percent of all stocks traded in the US (and this is down from around 2% from a decade before), so the CSX isn't a valuable acquisition based on volume or market share. The exchange license is what was paid for here, and the possibility of turning it into a platform for trading cryptos. Chicago already has a head start on this, with the CME and CBOE trading crypto futures, thus there would already be a labor pool of experienced traders that are familiar with the product.
Interesting to see where this goes. Whatever happens, hopefully the exchange remains in Chicago.
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