The New York Stock Exchange, in the final stages of turning itself into a public company through its acquisition of Archipelago Holdings Inc., defended its future regulatory structure in a comment letter to the U.S. Securities and Exchange Commission.
In a letter dated Feb. 7 and made public on Thursday, the NYSE said it disagreed with comments from bodies including the Independent Broker Action Committee that there should be a complete separation of the for-profit company from the regulation arm.
After the Archipelago deal, the Big Board plans to run its regulatory unit as a separate not-for-profit arm, self-funded by fees and fines. That has caused some concerns about how independent the regulation arm will be.
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