company would have resulted in a quasi-monopoly in the area of European financial derivatives traded globally on exchanges. Deutsche Börse unsuccessfully appealed this decision. In 2012, Euronext announced the creation of Euronext London to offer listing facilities in the UK. As such, Euronext received in June 2014 Recognized Investment Exchange (RIE) status from Britain's Financial Conduct Authority. On 20 December 2012, the boards of directors of both Intercontinental Exchange (ICE) and the NYSE Euronext approved an $8 billion acquisition of NYSE Euronext. Under the terms shareholders of NYSE would receive either $33.12 in cash for each share or .2581 IntercontinentalExchange Inc. shares, or a combination of $11.27 in cash per share plus .1703 shares of stock. The acquisition is subject to regulator approval, though since the operations of ICE and NYSE have little in common—ICE is largely devoted to trading commodities, as opposed to NYSE's business of trading stocks and securities—the deal is not expected to be blocked. ICE said that after the deal closed it would sell the Euronext portion of the company, including stock exchanges in Amsterdam, Brussels, Lisbon and Paris. The deal went through and Euronext is a sister division to NYSE and part of ICE. ICE CEO Jeffrey Sprecher would continue in that position at the combined company, while NYSE CEO Duncan Niederauer would serve as president. The future of the New York Stock Exchange's historic trading floor under ICE has not been announced. ICE closed the high profile and historic trading floors of its other earlier acquisitions, the International Petroleum Exchange and the New York Board of Trade in New York. In December 2012 Intercontinental Exchange (ICE) announced plans to acquire NYSE Euronext, owner of Euronext, in an $8.2 billion takeover. In May 2013, Euronext established Enternext as a subsidiary to help small and medium-size enterprises (SMEs) listed on Euronext outline and apply a strategy most suited to support their growth. The ICE's deal was approved by the shareholders of NYSE Euronext and Intercontinental Exchange on 3 June 2013. The European Commission approved the acquisition on 24 June 2013 and on 15 August 2013 the US regulator, SEC, granted approval of the acquisition. European regulators and ministries of Finance of the participating countries approved the deal and on 13 November 2013 the acquisition was completed. 2014–present: Spin-off from ICE and subsequent development Part of ICE's deal to acquire NYSE Euronext was a spin-off for Euronext,