Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus".
NEW YORK (TheStreet) -- The acquisition of NYSE Euronext (NYX), parent of the New York Stock Exchange, by the Intercontinental Exchange (ICE) is a good one, Jim Cramer told Debra Borchardt at TheStreet.com Thursday. He said the merger creates a powerful company at a time when scale means everything.
Cramer said that on one hand it's ironic that ICE, a 12-year-old upstart, is able to buy one of America's most iconic companies. But on the other hand the action is in derivatives and that's why ICE is valued higher than NYX.
He said that only those at Nasdaq OMX (NDAQ), parent of the Nasdaq, are likely not happy with the deal, as it, too, will need to grow in order to keep pace.To sign up for Jim Cramer's free Booyah! newsletter, with all of his latest articles and videos, please click here. -- Written by Scott Rutt in Washington. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV