U.S. regulators have approved the proposed $8 billion sale of the venerable New York Stock Exchange (NYSE) to a much-younger futures exchange, and the deal is a symbol of how financial markets are being increasingly reshaped by high technology, The Associated Press reported Saturday. The Securities and Exchange Commission (SEC) disclosed Friday that it has authorized the takeover of NYSE's parent by Atlanta-based IntercontinentalExchange (ICE). The rival acquiring company, founded in 2000, has expanded rapidly through acquisitions over the past decade. The SEC said in a filing that it has determined that the merger of the exchanges would comply with securities laws and regulations. The merger also must be approved by regulators in Europe. The deal is expected to close in the fall.
