Niederauer steps down at New York Stock Exchange

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Associated Press

Posted on May 22, 2014 at 9:00 AM

Updated Thursday, May 22 at 9:02 AM

NEW YORK (AP) — Citing a rapid integration with the IntercontinentalExchange Group, Duncan Niederauer will step down as CEO of the New York Stock Exchange immediately.

Thomas Farley, NYSE's chief operating officer, will succeed Niederauer, taking the title of President of the NYSE Group.

Niederauer, 54, served as CEO of NYSE Euronext, the company that owns the New York Stock Exchange, from 2007 through late 2013. He will continue as president of ICE through Aug. 2, ICE said Wednesday. Niederauer had been expected to stay until the end of the year.

ICE, the futures exchange based in Atlanta, closed on its acquisition of the NYSE in November for about $8 billion in cash and stock.

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