Jim Cramer's Stop Trading! NYX Looks Good

New leadership will help the exchange, as it will Merrill Lynch.
Author:
Publish date:

Duncan Niederauer will do a great job as CEO of

NYSE Euronext

(NYX)

, Jim Cramer said on

CNBC's

"Stop Trading!" segment Wednesday. Niederauer replaces John Thain, who is leaving NYX to run

Merrill Lynch

(MER)

.

"Duncan is a cost-cutter. He's a pro-technology buff. ... He's not a friend of the specialists." Cramer said "the specialists represent an older school of thought."

Cramer said he expects cost reductions this quarter, adding that Niederauer has "learned a tremendous amount" since joining the exchange several months ago. Niederauer had previously been a trader at

Goldman Sachs

(GS) - Get Report

.

Cramer stressed that NYSE Euronext is "not half European, it's majority European, and it's a weak-dollar play. ... Two-thirds of the income comes from Europe." Even though NYX is "hated," Cramer believes it's now on the right track.

Meanwhile, Thain's arrival at Merrill Lynch means there will "no longer be any nonsense," Cramer said. "Thain is a no-nonsense guy." Unlike former Merrill CEO Stanley O'Neal, Thain is "a coalition builder ...

who will be able to make the company whole again." Unlike

Citigroup

(C) - Get Report

, which Cramer says is in "disarray," Merrill should be able to right itself.

At the time of publication, Cramer was long GS and NYX.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click

here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click

here to order his book, "Real Money: Sane Investing in an Insane World," click

here to get his second book, "You Got Screwed!" and click

here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by

clicking here.

TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.