December 21, 2012
An upstart Atlanta entrepreneur has captured the Big Board — the 220-year-old beating heart of Wall Street capitalism — in a surprise deal that has eluded far more established suitors for years.
Jeffrey Sprecher’s 12-year-old IntercontinentalExchange — which he built from an obscure power company in Georgia into a key trader for energy and commodities derivatives — revealed an $8.2 billion deal to buy Big Board parent NYSE Euronext yesterday.
The deal will transfer control of the city’s symbolic financial center to Sprecher, 57, who will be CEO of the trading behemoth. NYSE chief Duncan Niederauer will be president.