TheStreet.com TV Recap: Send NYX to Europe

Now that Duncan Niederauer has joined NYSE Euronext (NYX Quote) as the new chief executive officer, he should move the company to Europe to drive the stock higher, Jim Cramer said on TheStreet.com TV's Wall Street Confidential Web video Monday.

"They really need to leave New York," he said. "Until they do that, people are just going to [compare it to the] Nasdaq (NDAQ Quote) and that's one metric that shouldn't matter."

"The stock is back to being hated again," Cramer said. "People are now saying CME (CME Quote) is the golden boy."

The company, he said, needs to get rid of the hybrid system it's been using and "fire everybody" in order to be like the CME. "They need to leverage," Cramer said. "This should be a really good quarter and no one cares." Further, the last quarter was "fabulous" and the stock was down substantially when it reported.

"So they need to get out of America," he stressed. "They should minimize whatever they're doing here."

However, it's not likely NYX will move out of New York, because politically, it's impossible, Cramer said. But as long as it's here, Niederauer is going to face the same problem as the previous CEO John Thain, "which is that you can't tell the story," Cramer explained. "You try to tell it a million ways, but no one's listening."

The NYSE Euronext is a great weak-dollar story, Cramer said. All the markets that are doing well are in the Euronext world. Meanwhile, the U.S. market is the one that's doing badly.

If they announce a big buyback or buy a futures exchange, that would work, as well, Cramer added. "Otherwise the stock is going to tread water."

Niederauer has three choices: he can buy a futures exchange, do a huge buyback or move the company, Cramer said. Short of those, it will remain business as usual at the NYSE.