] Reed, who is serving as the exchange's chairman following
] the recent resignation of Richard Grasso, has been
] discussing the plan for about two weeks, according to one
] stock exchange director. It would involve one board of
] independent directors that would preside over the
] exchange's compensation, regulatory and audit committees,
] and another that would be made up of chief executives of
] securities firms and listed companies, who would look
] after the exchanges marketplace issues, the Times
] reported.