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NYSE-ICE merger nears close

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NYSE and ICE: getting close to closing the deal. NYSE Euronext and IntercontinentalExchange may finally complete their merger in October, if the last of a long series of approvals finally comes through.

While approvals in the United States have essentially been completed, a couple of European approvals remain.

First is the "college of regulators," which are regulators in the five countries where Euronext operates (Portugal, France, the UK, Netherlands, and Belgium). They are the body that oversees the exchanges that make up Euronext.

They meet on a monthly basis. They cannot formally vote the merger down, only object or not to the merger. The anticipation is that they will provide a "non-objection" to the deal.

The final sign-offs come from the national regulators (the people who the college of regulators report to) in each of the five countries, which in most cases are the Finance Ministers.

There is no statutory deadline for the approval, so this could drag on, but the anticipation is that this will be completed in October.

What these regulators want to make sure of is that the interests of the national exchanges in Europe is protected. NYSE/ICE has already said they plan an IPO of Euronext.

Once the national regulators sign off, ICE/NYSE will put out a press releasing announcing the closing date. Shares and cash will change hands, and voila...ICE/NYSE will be one.

By CNBC's Bob Pisani