Nyse Euronext has finally submitted plans to the Securities and Exchange Commission to sell half of its interest in the Amex stock options market to a group of global dealers.
Under the proposed sell-off, Goldman Sachs and Citadel would each take a 14.9% stake in Amex, with Bank of America Merrill Lynch, Citigroup, TD Ameritrade, UBS and Barclays each taking a smaller percentage.
Nyse Euronext would retain 47.2% in the joint venture.
The exchange operator first floated the idea of an ownership split in 2009, a year after acquiring Amex for $260 million in stock. The stake sale is aimed at buying market share in the fiercely competitive US options market, which is now contested by nine separate liquidity destinations.
Dealers buying into the Amex will be required to contribute capital to meet regulatory requirements for operation of the market, and Nyse Amex may adjust the stakes of the seven firms based on their meeting "minimum volume requirements".