Financial Services Industry
Industry: Email Alert RSS FeedThe Two IPOs of the Century?
Traders, August, 1999 by Hoffman, William
The New York Stock Exchange is looking to go public, a move that comes just a few weeks after Nasdaq said it might do the same thing.
Asked about these reports, a Big Board spokesman Ray Pellecchia said the exchange had no comment.
But days later the Wall Street Journal reported that Big Board staffers had quietly approached investment banking giants Merrill Lynch & Co. and Salomon Smith Barney to explore the IPO route. That is the same route that Frank Zarb, chairman of the National Association of Securities Dealers, held out as an option for Nasdaq in the NASD's ongoing restructuring efforts.
Merrill Lynch and Salomon Brothers, along with several other Wall Street investment banks, declined to comment on both the NASD and Big Board reports....
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