Everybody rejoiced when both the NYMEX and NYSE EURONEXT reported stellar earnings this quarter. However, some shareholders noticed something that NYMEX said this past week which in many ways bothered them. NYMEX announced (again) that they would be excercising cost saving measures including layoffs and the sale of their headquarters. They announced that they would be using the services of real estate firm Cushman Wakefield. The part which disturbed some investors is that this is practically the same announcement we heard from NYMEX earlier this year. There is no real sign of progress in terms of a merger deal. People expected the deal to be much further along than it apparently is. In fact, originally NYMEX stated that they were seeking the services of Frank Knight Newmark to sell their property. Now they are working with Cushman Wakefield. Some see this as a sign that any prior deals that may have been in discussion might have now fallen through. Although learning about this apparent bump in the road disturbed some people, it wasnt all bad news. It shows that NYMEX is still very serious about making a deal. It shows that they are trying to expedite the process. NYSE EURONEXT and other exchanges are all keeping a close eye on what NYMEX will do next.
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