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NYSE Buys Out SIAC from Amex

The New York Stock Exchange last week agreed to buy the American Stock Exchange's one-third stake in their joint technology subsidiary, the Securities Industry Automation Corp., for $40 million. SIAC runs Sector Inc., and the Secure Financial Transaction Infrastructure data network. Officials say that after the deal closes in November, Amex will remain a SIAC customer, but will reduce its use of SIAC's services.

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