NYMEX (NMX): IS NYSE Euronext Warming Up To ICE? How The InterContinental Exchange May Be Pushing NYMEX Out Of The Picture.

Everybody has noticed the lack of news concerning the highly anticipated (rumored) NYSE Euronext merger. This past summer it was confirmed that there were talks held concerning a merger but details of who was involved in these talks was omitted. NYMEX also announced that they would likely pursue selling their headquarters as well as laying off employees in $12M cost saving measure. John Thain, of NYSE Euronext, is seen as being eager to consolidate in an effort to preserve his reign over the worlds stock exchanges. People were expecting to see more evidence of NYMEX wrapping up it's current operations. They expected to hear about the sale of the NYMEX building at 1 North End Ave. by now. They expected to see more lay offs by now. More importantly, everybody expected to hear about the merger by now. Everybody is wondering "whats taking so long?". Rumor has it that the heads at NYSE Euronext are asking the same question. People expected this deal to come together quickly. In this game it is important to strike while the iron is hot. That is why many people think that NYSE Euronext is warming up to the InterContinental Exchange (ICE). ICE has also shown it's interest to consolidate. It is also seen as more innovative in its new trading system and also has unique exposure to foriegn markets. ICE would be a significantly cheaper acquisition to NYMEX, but more importantly an ICE deal could happen much quicker. That may mean that NYMEX will be put on NYX's back burner until it can get itself in to order next year. However, many point to the fact that NYSE Euronext and NYMEX already have so many financial ties. That means that NYSE can't and won't risk NYMEX being bought by a rival exchange. The next month should be interesting as the competition increases. What will NYSE Euronext's strategy be?