Nasdaq to Acquire Boston Stock Exchange
Nasdaq Stock Market Inc. has agreed to acquire the Boston Stock Exchange and related assets for about $61 million, giving investors a second source of price quotes.
In a statement, Nasdaq President and Chief Executive Bob Greifeld said the deal will extend the company’s offerings and allow it to offer a second quote in the U.S. equities market.
“We believe a second exchange license in both equities, and in the future options, will provide market structure flexibility as we continue to deliver on our mission of being the number one trading platform in the transactions business,” he added.
The deal, slated to close by early next year, doesn’t include the BSE’s stake in the Boston Options Exchange. Nasdaq will, however, operate the exchange’s regulator services provider. Nasdaq and the BOE are discussing the exchange’s future regulatory structure. Nasdaq plans to launch its own options market in December. That effort is still awaiting approval from the Securities and Exchange Commission.
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