NYSE Delays Plan to go Public
The New York Stock Exchange (NYSE) has delayed plans indefinitely for its own IPO while it provides tough answers to issues involving regulation and taxation.
Based on feedback from its own board of directors and other parties, chairman Richard Grasso said the NYSE made the decision to go forward with a strategic plan addressing public policy-related questions rather than solidify the IPO at this time. The NYSE, along with fellow Nasdaq stock market, are considering IPO status as a measure to stay ahead of competitors like the popular Internet-based trading exchanges.
One body that has expressed concerns is the Securities and Exchange Commission, who made the statement that the stock exchange's regulatory obligations might be in jeopardy to its shareholders if the IPO actually occurred.