The New York Stock Exchange has taken issue with a research report from a Bear Stearns analyst that criticizes the NYSE for having a cost structure that pays employees better than 50% more than employees at other exchanges, The New York Post reports. According to the paper, the exchange took analyst Daniel Goldberg to task for not including the NYSE’s back-office staff, which would place the per-employee cost at around $179,000 – less than those of the Nasdaq ($194,000) and the International Stock Exchange ($197,000). While the NYSE contested the figures in report, the Post says, it did not deny that it still needs to work on cutting costs, particularly through eliminating staff, especially now that it’s a public company.
