Archipelago Holdings is to sell its wholly owned broker subsidiary to Merrill Lynch. The deal was part of the regulatory approval by the SEC following Archipelago's acquisition of the Pacific Exchange in September 2005.

PCX, parent of Pacific Exchange was acquired to give Archipelago the capability to trade electronically equitiy securities and and options products.

The New York Stock Exchange (NYSE) is still trying to push through a deal to merge with Archipelago

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