What happens to NYSE Euronext?

Thain spent his nearly four years at the helm of the Big Board breaking it away from its insular roots and building it into a global, electronically oriented, multiproduct exchange. Heir Duncan Niederauer--like Thain, a Goldman alum--has a track record of supporting electronic trading. He even once said some disparaging things about the Big Board's floor brokers.

His leadership at NYSE Euronext (nyse: NYX - news - people ) will probably involve even more evolution toward electronic trading, a build-up of the company's operations in Asia, and NYSE's entry into derivatives trading. More.

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