NYSE Partners With ACE For Private Stock-Sale Venture

Date : 09/09/2013 @ 10:39AM
Source : Dow Jones News
Stock : Nasdaq, Inc. (MM) (NDAQ)
Quote : 72.74  0.0 (0.00%) @ 4:00AM

NYSE Partners With ACE For Private Stock-Sale Venture

NYSE Group (NYSE:NYX)
Historical Stock Chart

5 Years : From Jul 2012 to Jul 2017

Click Here for more NYSE Group Charts.
   By Matt Jarzemsky 
 

New York Stock Exchange parent NYSE Euronext (NYX) is getting into the business of helping private companies sell shares.

The largest U.S. stock exchange operator by volume has agreed to partner with startup ACE Group Inc. to facilitate stock sales by closely held companies, it said in a statement. NYSE also took a minority stake in ACE for an undisclosed sum.

Stock-exchange firms are seeking new revenue sources following a multi-year decline in the number of U.S.-listed shares changing hands. NYSE rival Nasdaq OMX Group Inc. (NDAQ) announced a similar move in March, partnering with online private stock-trading company SharesPost Inc.

Stock investors have looked to pre-IPO companies in recent years as a way to get in early on businesses they see as poised for big growth. For example, Fidelity Investments and other mutual fund firms bought Facebook Inc. (FB) shares before its initial public offering, according to Wall Street Journal reports.

At midyear, Deutsche Bank AG (DB, DBK.XE) was tracking about 30 technology companies that have achieved $1 billion valuations in the private market, bankers wrote in a note to clients.

ACE, founded in 2010 and led by former investment bankers, provides online tools meant to help companies, bankers and investors participate in sales of stock and debt, as well as other assets such as stakes in private-equity funds.

Write to Matt Jarzemsky at matthew.jarzemsky@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


Latest NDAQ Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.