NY Stock Exchange Moves

It was reported today that the New York Stock Exchange has been purchased by Deutsche Boerse, AG. Deutsche Boerse operates the Eurex Futures platform and the Frankfurt Stock Exchange. The merged headquarters will be moving to Amsterdam.

Does this mean that the trading floor of the Exchange will be moving. Not Yet! Folks, if you read the tea leaves you know that moving the Exchange could be next. While its a shame if such an institution would uproot itself, there is a reality factor which must be recognized now.

The US Department of Justice and the Securities and Exchange Commission will need to sign off on the current deal. We at Hudson Valley Wag hope that the Governor of New York, the Mayor of New York and other elected officials cry out about another company leaving New York.

The bottom line here is the loss of jobs to New York and loss of tax revenue.