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The New York Stock Exchange (NYSE) and the Archipelago Exchange announced on April 20, 2005 that they had entered a definitive merger agreement that will lead to the combined entity, NYSE Group, Inc., becoming a publicly held company. If approved by the regulators, including the Securities and Exchange Commission, the NYSE members, and the Archipelago shareholders, the merger will represent the largest ever among securities exchanges and combine the world's largest equities market with the most successful totally open, fully electronic exchange.
Over eight years ago, Chicagobased Archipelago was created with a vision of making markets better for all investors. Archipelago Holdings owns and operates the Archipelago Exchange (ArcaEx), which is the first totally open all-electronic stock exchange in the United States. Through its alliance with the Pacific Stock Exchange Inc, Archipelago operates ArcaEx as the exclusive equities trading facility of PCX Equities,...