NYSE Changes Listing Standards

" You are drew ray -- that is right it's no helicopter rides -- the -- closed for me or my next -- joining me right now at the World Economic Forum is -- need are you know who couldn't he yelled and quiet scenes. Euronext good to see it done and."

" As you well there's so much discussed let's just start first of all with something you recently announced and that is that you change your listings standards tell me."

" I think what we felt was a lot of companies who we think are going to get through this. We're being subjected to very black and white rules that momentarily and put them underwater. And we felt that -- relaxation of those rules which we expect to be temporary gave them a chance to relax a little bit get through this period. And not be a victim of the crisis generally."

" And buy them a little more time so they can get their businesses back to where they -- they -- the market capitalization requirements you said it is temporary if things persist or are you willing to extend it."

" I think we probably will we're going to take it under advisement right now we felt the most important thing to do was just let these companies breathe a little bit. And then we'll just keep reviewing and as we go along in the -- that depends on how long the crisis last but I think it was a repetitive."

" You talked to a lot of corporations obviously -- that you some of which are here in -- what it is saying to."

" I think -- so far as a corner turning event as little as I was mentioning him before we came on. If you had asked me two months ago what -- I was CEO's feeling about 9 it was pretty negative. It was almost universally pessimistic and some CEO's -- writing a year off. I don't know if it's about -- those are just what everyone being together thinking about it but I started here people using words like. Time to be constructive time to look for opportunities in this crisis et cetera and I think people are finally looking forward which is positive sign that."

" It is a positive sign a lot of talk here I've noticed Natalie about what's going on with our fiscal -- situation and the stimulus package here. But a lot people talking about the quality or what it is the cash can do for you in this environment. And it and and what that might mean in 2009. We have certainly haven't had years of mergers and acquisitions like we've had in the past. But we'll start to feel some of that bill."

" I think you start to see some of that comeback of cash is king for the moment and probably will be for awhile. And if you've got a pretty clean balance sheet and you've got cash in your plans for the position of strength right now. You could absolutely improve your position in a market like this might view ourselves hopefully that category. But now that we're starting to see a couple of Blockbuster deals. I think the most important part of that is. It's going to prove to the market it as as the funding for these deals get stunt which I believe it well it starts to prove to the market need please don't tell us credit isn't flowing through the system. It may not be what it was and they have people we need to be but at least it's -- started starting to move through you know decide to move again."

" One hot topic here is regulatory oversight changes fear of government intervention and yet we need a little bit of government intervention. What is it that you gonna do in terms the NYSE changing roles bringing back up tech has been when things that you think are important to note nine to change let's."

" Let's let's tackle that two different ways wanted to exchange level we're going to work closely with the SEC at our companies that are their constituents. I supported some kind of -- price Hester returned to an uptick rule I thought it was released to put back in there was no consensus around that. Among the other exchanges or the SEC Wilson was who have Shapiro wants to do and I'm sure she and I'll be talking about it soon and I think. The more broader picture it is what is the government is involved in financial services that you really -- to be they had to. Another involved and that we're trying to work her way through his what does it mean. Obviously we needed it from a stability point of view. But now what happens from here how does it inadvertently upset the competitive balance in the industry because some companies have government support other companies don't. Does it affect the way these companies operate because the companies are told to do certain things can make loans but make sure they're all good loans. I think we're just we're we're we're just still cutting and keep them that we got to figure that where we go from."

" I -- leave it there are great plan shall be cutting our teeth around that holds -- 2009. -- thank you very much for joining me. Irate client how offended back to you in New York as a lot to get our hands around and we are learning a lot that's for sure at the world economic."