NYSE firms squeezed by rising expenses

Crain's New York reports:

New York Stock Exchange member firms on Tuesday reported record quarterly revenue but income tumbled 51% as expenses surged.

The Big Board, which went public last month after a $10 billion acquisition of electronic exchange Archipelago Holdings Inc., has been trying to regain its flagging market share and may be looking for another partner.

Eighty-three of the 217 NYSE firms that reported quarterly results were unprofitable, according to the exchange.

There probably will not be as many NYSE members firms five years from now.