New York Stock Exchange members Tuesday voted overwhelmingly in favor of its deal to buy electronic trading company Archipelago Holdings Inc., the Big Board said, which will turn the 213-year-old Exchange into a for-profit, publicly traded company and give it clout to compete with nimble electronic rivals.

The deal creates NYSE Group Inc., which will begin on the Big Board under the symbol and is valued at $9.6 billion at current prices.

Support from members has been given a large boost by a huge run-up in NYSE seat prices, currently trading at a record $4 million. NYSE members will take home $300,000 for each seat and will share 70 percent of the shares in the new company.