Stock exchange specialist that is remaking itself ivo market transformation.

I like the fact that they own 1% of the NYSE

From Barron's 7-16-07:

"Since December, the NYSE essentially has been subsidizing specialists with direct cash "revenue-sharing" payments. The program, scheduled to last six months, was just extended through Aug. 31. The extension came as specialists were in near-revolt over what they see as a deck stacked against them; the situation even spawned rash talk of a walkout as a protest.

These issues would seem to have spurred last week's announcement that LaBranche & Co. (LAB) -- one of the largest specialist firms and the biggest independent one -- would "explore strategic alternatives," presumably a search for possible acquirers...LaBranche, at a recent price of $7.28, has a market value of $449 million. Some $240 million of that can be attributed to its ownership of 2.9 million shares in NYSE parent NYSE Euronext (NYX)."

Speculative stock on NYX holdings and potential upside