NYSE Statement Regarding Motion For Injunction Against NYSE-Archipelago Merger

A small handful of Members today took steps to deny the vast majority of NYSE Members their right to vote on the merger. This action is wrong and is an affront to shareholder democracy, and is contrary to all previous statements this group has made. It threatens both the NYSE’s future and America’s leadership position in global capital markets. A vote for the merger is a vote for the future of the NYSE. We will continue to vigorously defend the right of our Members to vote.

The proposal as recommended by the NYSE’s independent Board of Directors is fair and equitable. The Board has provided abundant information and transparency on this transaction, including a summary of the plaintiff’s allegations in our proxy statement. The prospect of this deal has more than tripled the value of NYSE seats this year. It significantly benefits our Members, while placing the Exchange on firm ground for future growth and value creation. It will transform the NYSE into a for-profit, publicly traded company with a broad product mix and the ability to compete with any capital marketplace in the world. We will continue to vigorously pursue this transaction.