NYX Nyse Euronext

NYSE Euronext (NYX) is reviewing a list of about 25 investments and ventures, weighing the sale or closure of several efforts as the transatlantic exchange operator works to cut $250 million in annual costs by 2014.

The Big Board parent has already unwound a handful of projects and several more are on "the watch list," according to Chief Operating Officer Lawrence Leibowitz, who is helping lead the cost-cutting program.

"We do a regular review of our investment portfolio," Leibowitz told investors at a presentation Wednesday. These include joint ventures, organic growth projects and investments in other companies and exchanges, he said.

NYSE Euronext aims to clamp down on spending as the company grapples with a slowdown in trading on both sides of the Atlantic that has spanned both derivatives and stocks, while charting a path forward from its failed merger with Germany's Deutsche Boerse AG (DBOEF, DB1.XE).

The company already has unwound a joint venture centered on growing carbon markets in the U.S. and Asia as well as a securities lending platform. Leibowitz said Wednesday that NYSE Euronext has closed MatchPoint Trading, a specialized trade-matching technology that NYSE Euronext had acquired in July 2006.

"We look at what is the impact of the cost of running the business, the impact on operating income this year, next year and in the visible future, and how do we feel about the investment thesis that got us there," Leibowitz said.

NYSE Euronext also may sell down its equity stakes in other exchanges such as India's Multi-Commodity Exchange and the Qatar Exchange, as well as Anglo-French trade clearinghouse LCH.Clearnet.

-By Jacob Bunge, Dow Jones Newswires; 312 750 4117; jacob.bunge@dowjones.com; Twitter: @jacobbunge

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