The Nasdaq Stock Market has completed its acquisition of the electronic exchange Brut LLC from SunGard Data Systems Inc. for US$190 million in cash.

The Brut acquisition accelerates Nasdaq’s growth initiatives and enhances its competitive position, the exchange said, noting that it will increase liquidity, execution quality and the depth of market information. Effective Sept. 1, Brut began to report its trades to the Nasdaq Market Center. Nasdaq customers will also be able to access multiple destinations outside the Nasdaq Market Center through the use of Brut’s sophisticated, smart-order router.

Nasdaq says that it has received all the necessary regulatory approvals and expects the transaction to be accretive to its shareholders within 12 months.

“This transaction is an important milestone for Nasdaq’s growth plans and Nasdaq and Brut customers are the beneficiaries, with deeper liquidity, better connectivity and the addition of new execution services,” said Bob Greifeld, president and chief executive officer of Nasdaq. “As a result, we believe this transaction will complement our strategy to provide lower cost and more efficient trading, contributing to our mission to be the number one stock market for trading U.S. stocks.”

“The Brut ECN, like Nasdaq, has focused on innovation and attention to customer service,” Greifeld said. “As a result of this transaction, we will maximize our services to become a one-stop venue with deeper liquidity, advanced order routing and connectivity on one competitive low-cost platform. We look forward to a smooth and efficient integration.”

In connection with the transaction, Nasdaq and SunGard entered into a hosting and multi-year processing agreement for SunGard to provide a real-time securities clearance and settlement system for certain Nasdaq trades.