Two senior technology executives at NYSE group are stepping down ahead of the impending merger between the New York Stock Exchange and Euronext. Analysts are expecting the merger, if it closes, to lead to further IT layoffs at the US exchange.

Mike Cormack, executive vice president for electronic trading and new products at NYSE, will be stepping down from his current position to spend "more quality time" with his family and is moving to Vancouver, Canada, in the coming months.